|
The following table presents a reconciliation of the major financial lines constituting the results of operations for discontinued operations to the loss from discontinued operations presented separately in the condensed consolidated statements of operations (in thousands):
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Three Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2023 |
|
2022 |
Revenues |
|
$ |
— |
|
$ |
56 |
Cost of goods sold |
|
|
— |
|
|
5 |
Gross profit |
|
|
— |
|
|
51 |
Operating expenses: |
|
|
|
|
|
|
Research and development |
|
|
— |
|
|
3,062 |
General and administrative |
|
|
364 |
|
|
7,355 |
Gain on sale of fixed assets |
|
|
(50) |
|
|
— |
Total operating expenses |
|
|
314 |
|
|
10,417 |
|
|
|
|
|
|
|
Other expenses: |
|
|
|
|
|
|
Interest expense - term note payable |
|
|
(358) |
|
|
(226) |
Other |
|
|
— |
|
|
(1) |
Total other expenses |
|
|
(358) |
|
|
(227) |
|
|
|
|
|
|
|
Loss from discontinued operations |
|
$ |
(672) |
|
$ |
(10,593) |
The following table presents net carrying values related to the major classes of assets that were classified as held for sale at September 30, 2023 and June 30, 2023 (in thousands):
|
|
|
|
|
|
|
|
|
September 30, |
|
June 30, |
|
|
2023 |
|
2023 |
Current assets: |
|
|
|
|
|
|
Operating lease right-of-use assets |
|
$ |
1,939 |
|
$ |
1,941 |
Property and equipment, net |
|
|
16,124 |
|
|
16,124 |
Total current assets |
|
$ |
18,063 |
|
$ |
18,065 |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Operating lease obligation |
|
$ |
1,939 |
|
$ |
1,941 |
Total current liabilities |
|
$ |
1,939 |
|
$ |
1,941 |
|
|
|
|
|
|
|
The following table presents the supplemental disclosures related to discontinued operations for the statements of cash flows (in thousands):
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
2023 |
|
2022 |
Depreciation expense |
|
$ |
— |
|
$ |
271 |
Amortization of finance lease right-of-use assets |
|
|
2 |
|
|
13 |
Purchase of fixed assets |
|
|
— |
|
|
875 |
Investing non-cash transactions: |
|
|
|
|
|
|
Fixed assets included in accounts payable in prior period, paid in current period |
|
|
— |
|
|
1,542 |
Unpaid fixed assets included in accounts payable |
|
|
— |
|
|
229 |
|
|
|
|
|
|
|
Supplemental cash flow information: |
|
|
|
|
|
|
Cash paid during the period for interest |
|
|
174 |
|
|
187 |
|