| Schedule of discontinued operations |
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 consolidated statements of operations (in thousands):
|
|
|
|
|
|
|
|
|
Years Ended June 30, |
|
|
2024 |
|
2023 |
Revenues |
|
$ |
— |
|
$ |
391 |
Cost of goods sold |
|
|
— |
|
|
52 |
Gross profit |
|
|
— |
|
|
339 |
Operating expenses: |
|
|
|
|
|
|
Research and development |
|
|
— |
|
|
6,344 |
General and administrative |
|
|
1,207 |
|
|
6,751 |
Fixed asset impairments |
|
|
3,100 |
|
|
17,900 |
Loss (gain) on sale of fixed assets |
|
|
4,816 |
|
|
(773) |
Inventory reserve |
|
|
— |
|
|
4,915 |
Total operating expenses |
|
|
9,123 |
|
|
35,137 |
|
|
|
|
|
|
|
Other income (expenses): |
|
|
|
|
|
|
Interest expense - term note payable |
|
|
(1,149) |
|
|
(900) |
Gain on extinguishment of debt |
|
|
808 |
|
|
— |
Other |
|
|
— |
|
|
(1) |
Total other expenses |
|
|
(341) |
|
|
(901) |
|
|
|
|
|
|
|
Loss from discontinued operations |
|
$ |
(9,464) |
|
$ |
(35,699) |
The following table presents net carrying values related to the major classes of assets that were classified as held for sale at June 30, 2024 and 2023 (in thousands):
|
|
|
|
|
|
|
|
|
June 30, |
|
June 30, |
|
|
2024 |
|
2023 |
Current assets: |
|
|
|
|
|
|
Operating lease right-of-use assets |
|
$ |
- |
|
$ |
1,941 |
Property and equipment, net |
|
|
- |
|
|
16,124 |
Total current assets |
|
$ |
- |
|
$ |
18,065 |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Operating lease obligation |
|
$ |
- |
|
$ |
1,941 |
Total current liabilities |
|
$ |
- |
|
$ |
1,941 |
The following table presents the supplemental disclosures related to discontinued operations for the cash flows (in thousands):
|
|
|
|
|
|
|
|
|
Years Ended June 30, |
|
|
2024 |
|
2023 |
Depreciation expense |
|
$ |
— |
|
$ |
273 |
Amortization of finance lease right-of-use assets |
|
|
— |
|
|
20 |
Purchase of fixed assets |
|
|
— |
|
|
1,542 |
Fixed asset impairments |
|
|
3,100 |
|
|
17,900 |
Loss on sale of fixed assets |
|
|
4,817 |
|
|
— |
Gain on extinguishment of debt |
|
|
(808) |
|
|
— |
Payments of term note payable |
|
|
(1,513) |
|
|
— |
Inventory reserve |
|
|
— |
|
|
4,915 |
Sales proceeds of fixed assets |
|
|
50 |
|
|
2,600 |
Payment of finance lease obligation |
|
|
— |
|
|
17 |
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 |
|
|
577 |
|
|
603 |
|