Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.24.1.1.u2
Discontinued Operations (Tables)
9 Months Ended
Mar. 31, 2024
Discontinued Operations [Abstract]  
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

March 31, 

March 31, 

2024

2023

Revenues

$

$

205

Cost of goods sold

25

Gross profit

180

Operating expenses:

Research and development

837

General and administrative

245

929

Gain on sale of fixed assets

(732)

Total operating expenses

245

1,034

Other expenses:

Interest expense - term note payable

(292)

(158)

Other

(3)

Total other expenses

(292)

(161)

Loss from discontinued operations

$

(537)

$

(1,015)

Nine Months Ended

Nine Months Ended

March 31, 

March 31, 

2024

2023

Revenues

$

$

391

Cost of goods sold

52

Gross profit

339

Operating expenses:

Research and development

6,361

General and administrative

916

6,165

Fixed asset impairments

3,100

17,600

Gain on sale of fixed assets

(50)

(732)

Inventory reserve

4,933

Total operating expenses

3,966

34,327

Other income (expenses):

Interest expense - term note payable

(966)

(606)

Other

(4)

Total other expenses

(966)

(610)

Loss from discontinued operations

$

(4,932)

$

(34,598)

The following table presents net carrying values related to the major classes of assets that were classified as held for sale at March 31, 2024 and June 30, 2023 (in thousands):

March 31, 

June 30,

2024

2023

Current assets:

Operating lease right-of-use assets

$

1,933

$

1,944

Property and equipment, net

13,024

16,424

Total current assets

$

14,957

$

18,368

Current liabilities:

Operating lease obligation

$

1,933

$

1,944

Total current liabilities

$

1,933

$

1,944

The following table presents the supplemental disclosures related to discontinued operations for the condensed consolidated statements of cash flows (in thousands):

Nine Months Ended

Nine Months Ended

March 31, 

March 31, 

2024

2023

Depreciation expense

$

$

273

Amortization of finance lease right-of-use assets

8

20

Purchase of fixed assets

1,041

Fixed asset impairments

3,100

17,600

Inventory reserve

4,933

Sales proceeds of fixed assets

50

2,100

Investing non-cash transactions:

Fixed assets included in accounts payable in prior period, paid in current period

1,542

Sales of fixed assets receivable

460

Supplemental cash flow information:

Cash paid during the period for interest

490

469