| Schedule of discontinued operations |
The following tables present 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 and comprehensive loss (in thousands):
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Three Months Ended |
|
|
December 31, |
|
December 31, |
|
|
2023 |
|
2022 |
Revenues |
|
$ |
— |
|
$ |
130 |
Cost of goods sold |
|
|
— |
|
|
22 |
Gross profit |
|
|
— |
|
|
108 |
Operating expenses: |
|
|
|
|
|
|
Research and development |
|
|
— |
|
|
2,462 |
General and administrative |
|
|
307 |
|
|
1,980 |
Fixed asset impairments |
|
|
3,100 |
|
|
17,600 |
Inventory reserve |
|
|
— |
|
|
833 |
Total operating expenses |
|
|
3,407 |
|
|
22,875 |
|
|
|
|
|
|
|
Other expenses: |
|
|
|
|
|
|
Interest expense - term note payable |
|
|
(316) |
|
|
(223) |
Total other expenses |
|
|
(316) |
|
|
(223) |
|
|
|
|
|
|
|
Loss from discontinued operations |
|
$ |
(3,723) |
|
$ |
(22,990) |
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
Six Months Ended |
|
|
December 31, |
|
December 31, |
|
|
2023 |
|
2022 |
Revenues |
|
$ |
— |
|
$ |
186 |
Cost of goods sold |
|
|
— |
|
|
27 |
Gross profit |
|
|
— |
|
|
159 |
Operating expenses: |
|
|
|
|
|
|
Research and development |
|
|
— |
|
|
5,524 |
General and administrative |
|
|
671 |
|
|
5,236 |
Fixed asset impairments |
|
|
3,100 |
|
|
17,600 |
Gain on sale of fixed assets |
|
|
(50) |
|
|
— |
Inventory reserve |
|
|
— |
|
|
4,933 |
Total operating expenses |
|
|
3,721 |
|
|
33,293 |
|
|
|
|
|
|
|
Other income (expenses): |
|
|
|
|
|
|
Interest expense - term note payable |
|
|
(674) |
|
|
(448) |
Other |
|
|
— |
|
|
(1) |
Total other expenses |
|
|
(674) |
|
|
(449) |
|
|
|
|
|
|
|
Loss from discontinued operations |
|
$ |
(4,395) |
|
$ |
(33,583) |
The following table presents net carrying values related to the major classes of assets that were classified as held for sale at December 31, 2023 and June 30, 2023 (in thousands):
|
|
|
|
|
|
|
|
|
December 31, |
|
June 30, |
|
|
2023 |
|
2023 |
Current assets: |
|
|
|
|
|
|
Operating lease right-of-use assets |
|
$ |
1,936 |
|
$ |
1,941 |
Property and equipment, net |
|
|
13,024 |
|
|
16,124 |
Total current assets |
|
$ |
14,960 |
|
$ |
18,065 |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Operating lease obligation |
|
$ |
1,936 |
|
$ |
1,941 |
Total current liabilities |
|
$ |
1,936 |
|
$ |
1,941 |
The following table presents the supplemental disclosures related to discontinued operations for the condensed consolidated statements of cash flows (in thousands):
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
Six Months Ended |
|
|
December 31, |
|
December 31, |
|
|
2023 |
|
2022 |
Depreciation expense |
|
$ |
— |
|
$ |
271 |
Amortization of finance lease right-of-use assets |
|
|
5 |
|
|
20 |
Purchase of fixed assets |
|
|
— |
|
|
1,070 |
Fixed asset impairments |
|
|
3,100 |
|
|
17,600 |
Inventory reserve |
|
|
— |
|
|
4,933 |
Investing non-cash transactions: |
|
|
|
|
|
|
Fixed assets included in accounts payable in prior period, paid in current period |
|
|
— |
|
|
1,542 |
|
|
|
|
|
|
|
Supplemental cash flow information: |
|
|
|
|
|
|
Cash paid during the period for interest |
|
|
343 |
|
|
187 |
|