Quarterly report [Sections 13 or 15(d)]

Discontinued Operations (Tables)

v3.25.2
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Reconciliation of Discontinued Operations
The following table presents a reconciliation of discontinued operations for the three and six months ended June 30, 2025 and 2024, respectively (amount in thousands):
For the Three Months Ended For the Six Months Ended
June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024
Revenues, net $ —  $ 970  $ —  $ 2,248 
Cost of revenues —  1,291  —  2,942 
Gross loss —  (321) —  (694)
Operating expenses:
General and administration —  278  102  572 
Research and development —  —  —  — 
Total operating expenses —  278  102  572 
Loss from operations —  (599) (102) (1,266)
Interest expense —  (121) —  (195)
Other income $ —  $ 30  $ —  $ 30 
Loss from discontinued operations, net of tax $ —  $ (690) $ (102) $ (1,431)
The assets and liabilities classified in discontinued operations as of June 30, 2025 and December 31, 2024 are as follows (amount in thousands):
June 30, 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