| Schedule of Reconciliation of Discontinued Operations |
The following table presents a reconciliation of discontinued operations for the three months ended March 31, 2025 and 2024, respectively (amount in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended |
|
March 31, 2025 |
|
March 31, 2024 |
| Revenues, net |
$ |
— |
|
|
$ |
1,278 |
|
| Cost of revenues |
— |
|
|
1,651 |
|
| Gross loss |
— |
|
|
(373) |
|
| Operating expenses: |
|
|
|
| General and administration |
102 |
|
|
294 |
|
| Research and development |
— |
|
|
— |
|
| Total operating expenses |
102 |
|
|
294 |
|
| Loss from operations |
(102) |
|
|
(667) |
|
| Interest expense |
— |
|
|
(74) |
|
| Loss from discontinued operations, net of tax |
$ |
(102) |
|
|
$ |
(741) |
|
The assets and liabilities classified in discontinued operations as of March 31, 2025 and December 31, 2024 are as follows (amount in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2025 |
|
December 31, 2024 |
| Restricted cash |
$ |
— |
|
|
$ |
627 |
|
| Accounts receivable, net |
— |
|
|
605 |
|
| Inventory, net |
— |
|
|
1,487 |
|
| Prepaid expenses and other current assets |
— |
|
|
3,424 |
|
| Total current assets in discontinued operations |
— |
|
|
6,143 |
|
| Property, plant and equipment, net |
— |
|
|
4,895 |
|
| Other assets |
— |
|
|
544 |
|
| Total non-current assets in discontinued operations |
— |
|
|
5,439 |
|
| Total assets in discontinued operations |
—
|
|
|
11,582
|
|
|
|
|
|
| Accounts payable |
$ |
— |
|
|
$ |
2,432 |
|
| Secured promissory note payable |
— |
|
|
1,000 |
|
| Finance lease liability |
— |
|
|
2,356 |
|
| Other current liabilities |
— |
|
|
79 |
|
| Total current liabilities in discontinued operations |
— |
|
|
5,867 |
|
Secured long-term debt, net of discount of $318 |
— |
|
|
2,924 |
|
| Total non-current liabilities in discontinued operations |
— |
|
|
2,924 |
|
| Total liabilities in discontinued operations |
$ |
—
|
|
|
$ |
8,791
|
|
|