MesoScribe and Tantaline |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| MesoScribe and Tantaline | Note 13 – MesoScribe and Tantaline
MesoScribe
On August 8, 2023, the Company entered into a Purchase and License Agreement (the “Agreement”) with a third-party. Pursuant to the Agreement, the Company sold certain proprietary equipment relating to its plasma spray technology and material deposition system and granted a non-exclusive license to use certain of the Company’s related intellectual property as more fully described in the Agreement, for an aggregate adjusted purchase price of $0.8 million. The purchase price was payable in several installments and contingent upon certain performance metrics and other milestones.
The Company fulfilled remaining orders for MesoScribe products during 2024 at which time it ceased operations of MesoScribe and recorded a $0.7 million gain upon the completion of the sale of the equipment during the year ended December 31, 2024.
The revenues and net income of MesoScribe were $0.1 million and $0.1 million for the year ended December 31, 2025 consisting principally of a license agreement fee.
CVD EQUIPMENT CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2025 and 2024
Note 13 – MesoScribe and Tantaline (continued)
The revenues and net income of MesoScribe were $0.8 million and $1.1 million for the year ended December 31, 2024, including the gain on sale of equipment of $0.7 million. The total assets and total liabilities of the MesoScribe subsidiary were $0.6 million and $0, respectively, as of December 31, 2024.
Tantaline
On May 26, 2023, the Company sold its Tantaline subsidiary located in Nordborg, Denmark in exchange for a nominal amount at closing and an earn-out provision based on any net income that Tantaline may earn during the five-year period ending December 31, 2027. Any earn-out amounts will be recognized when and if any such amounts become probable of receipt. To date, the Company has received a $6,000 earn-out payment in 2024 based on the results of Tantaline’s operations for the year ended December 31, 2023.
|