as held for sale in the Company’s Consolidated Balance Sheets. Throughout most of 2024, the Company considered retaining some Company owned stores due to location and potential training centers that posed challenges for sale.


	As of
	June 30, 2025	December 31, 2024
	$’000	$’000
Cash	48	266
Accounts receivable, net of allowance for doubtful accounts of $31.1 thousand and $0.2 million as of June 30, 2025 and December 31, 2024, respectively	136	170

Other current assets	39	52

Property and equipment, net	6	6
Goodwill	1,798	1,798
Other non-current assets	185	189
Intangible assets, net	2,715	2,715
Assets held for sale	4,927	5,196

Accounts payable and accrued expenses	200	149
Notes payable, current	581	79
Operating lease liability, current	—	138
Deferred revenue, current	121	125
Other current liabilities	307	243
Notes payable, non-current	—	542

Deferred revenue, non-current	937	1,057
Liabilities held for sale	2,146	2,333


	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
	$’000	$’000	$’000	$’000
Sadot Food Services Net Income / (Loss) Before Income Tax	(55)	42	52	(1,049)

Sadot Food Services was comprised of two fast casual restaurant concepts, Pokémoto and Muscle Maker Grill, as well as a subscription-based fresh prep meal concept, SuperFit Foods. On August 1, 2024, SuperFit Foods was sold for $0.2 million with a minimal gain on the sale.

After launching Sadot Agri-Foods, the Company made the decision to explore the option of selling a portion of our restaurant operations. During the first quarter of 2024, the Company entered into an agreement with a brokerage firm to have the exclusive rights to offer and sell the Muscle Maker Grill and Pokémoto franchise business and potentially some of the corporate-owned restaurants. Accordingly, the assets and liabilities related to the restaurant operations were classified as held for sale in the Company’s Consolidated Balance Sheets. Throughout most of 2024, the Company considered retaining some Company owned stores due to location and potential training centers that posed challenges for sale.

However, in the fourth quarter of 2024, the Company closed its last two corporate owned stores, and have a sale pending for the franchise business. Given the sale or pending sale of all of the restaurant operations as of December 31, 2024, we have deemed this to be a strategic shift in business structure as it will eliminate one of our two business segments, which triggered accounting for the restaurant operations as discontinued operations. The Company performed an impairment test on the net assets of the restaurant operations as of June 30, 2025, noting the carrying amount was less than the fair value less cost to sell. The amount of loss from discontinued operations is disclosed in the Unaudited Consolidated Statements of Income and Other Comprehensive Income / (Loss).


	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
	$’000	$’000	$’000	$’000
Revenues	383	1,745	777	3,174
Cost of goods sold	—	(1,219)	—	(2,550)
Gross profit	383	526	777	624


Depreciation and amortization expenses	—	—	—	(189)
Franchise advertising fund expenses	(13)	(12)	(34)	(28)

Post-closing expenses	(99)	(10)	(59)	(29)

Sales, general and administrative expenses	(321)	(728)	(621)	(1,431)
Income / (loss) from discontinued operations	(50)	(224)	63	(1,053)
Other income	1	19	1	19
Interest expense, net	(6)	247	(12)	(15)




Income / (loss) from discontinued operations before income tax	(55)	42	52	(1,049)
Income tax benefit / (expense) from discontinued operations	—	—	—	—
Income / (loss) from discontinued operations	(55)	42	52	(1,049)