| SCHEDULE OF NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS |
Major
classes of line items constituting net income (loss) from discontinued operations are as follows:
SCHEDULE
OF NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS
| | |
2025 | | |
2024 | |
| | |
Twelve Months Ended December 31, | |
| | |
2025 | | |
2024 | |
| Revenue - Aircraft usage | |
$ | 89 | | |
$ | 32,546 | |
| Revenue - Managed aircraft | |
| — | | |
| 7,224 | |
| Costs of Revenue - Aircraft usage | |
| 65 | | |
| 43,488 | |
| Cost of Revenue - Managed aircraft | |
| — | | |
| 6,610 | |
| Selling, general and administrative | |
| 406 | | |
| 19,035 | |
| Other income from discontinued operations | |
| 5,530 | | |
| 9,902 | |
| Income (loss) from discontinued operations before provision for taxes | |
| 5,148 | | |
$ | (19,461 | ) |
| Benefit for taxes from discontinued operations | |
| 829 | | |
| — | |
| Net income (loss) from discontinued operations, net | |
$ | 4,319 | | |
$ | (19,461 | ) |
Carrying
amounts and major classes of assets included as part of discontinued operations are as follows:
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Accounts receivable, net | |
$ | 13 | | |
$ | 1,027 | |
| Prepaid and other assets | |
| 254 | | |
| 1,254 | |
| Property and equipment, net | |
| — | | |
| 3 | |
| Intangibles, net | |
| — | | |
| 1,200 | |
| Goodwill | |
| — | | |
| 635 | |
| Total assets associated with discontinued operations | |
$ | 267 | | |
$ | 4,119 | |
Carrying
amounts and major classes of liabilities included as part of discontinued operations are as follows:
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Accounts payable and accrued liabilities | |
$ | 1,307 | | |
$ | 6,344 | |
| Credit facility and other loans | |
| — | | |
| 918 | |
| Customer deposits and deferred revenue | |
| 284 | | |
| 5,156 | |
| Deferred income tax liability | |
| — | | |
| 305 | |
| Total liabilities associated with discontinued operations | |
$ | 1,591 | | |
$ | 12,723 | |
|