Annual report [Section 13 and 15(d), not S-K Item 405]

Discontinued Operations (Tables)

v3.25.1
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Reconciliation of Discontinued Operations
The following table presents a reconciliation of discontinued operations for the year ended December 31, 2024 and 2023 (amount in thousands):
For the Years Ended
December 31, 2024 December 31, 2023
 Revenues, net $ 6,442  $ 9,400 
 Cost of revenues 7,364  8,717 
 Gross (loss) profit (922) 683 
 Operating expenses:
 General and administration 2,569  1,060 
 Research and development —  16 
 Total operating expenses 2,569  1,076 
 Loss from operations (3,491) (393)
 Interest expense (378) (9)
 Other income 30  — 
 Loss from discontinued operations, net of tax $ (3,839) $ (402)
The following table presents a reconciliation of the carrying amounts of assets and liabilities of the Company that were reclassified to assets held-for-sale and liabilities held-for-sale as of December 31, 2024 and 2023 (amount in thousands):

December 31, 2024 December 31, 2023
Restricted cash $ 627  $ 540 
Accounts receivable, net 605  499 
Inventory, net 1,487  1,550 
Prepaid expenses and other current assets 3,424  200 
Total current assets held-for-sale 6,143  2,789 
Property, plant and equipment, net 4,895  2,568 
Other assets 544  — 
Total non-current assets held-for-sale 5,439  2,568 
Total assets held-for-sale $ 11,582  $ 5,357 
December 31, 2024 December 31, 2023
Accounts payable $ 2,432  $ 739 
Secured promissory note payable 1,000  — 
Finance lease liability 2,356  — 
Other current liabilities 79  96 
Total current liabilities held for sale 5,867  835 
Secured long-term debt, net of discount of $318 and $341
 2,924  2,924 
Total non-current liabilities held-for-sale 2,924  2,924 
Total liabilities held-for-sale $ 8,791  $ 3,759