Transaction
costs incurred in connection with the disposition totaled $0.05 million. The gain on disposal of subsidiaries was calculated as follows:
Schedule Of Assets And Liabilities Operations Of Discontinued Operations
| | |
| |
| Carrying value (in thousands) of net assets of the Cannabis Subsidiaries | |
| |
| Cash | |
$ | 3 | |
| Accounts receivable | |
| 233 | |
| Inventories | |
| 157 | |
| Other assets | |
| 22 | |
| Accounts payable | |
| (117 | ) |
| Net asset
and liabilities | |
| 298 | |
| | |
| | |
| Total consideration received, net of transaction costs | |
| | |
| Cash | |
| 61 | |
| Fair value of Promissory Note | |
| 2,591 | |
| Fair value of Licensing Agreement | |
| 1,696 | |
| Less: Transaction costs | |
| (173 | ) |
| | |
| 4,175 | |
| | |
| | |
| Gain on disposition | |
$ | 3,877 | |
Following
is the breakdown of the gain (loss) from discontinued operations:
| | |
2025 | | |
2024 | |
| | |
Year ended December 31, | |
| | |
2025 | | |
2024 | |
| Net Revenue | |
$ | 498 | | |
$ | 1,362 | |
| Cost of goods sold | |
| (78 | ) | |
| (947 | ) |
| Gross profit | |
| 420 | | |
| 415 | |
| Operating expenses: | |
| | | |
| | |
| Selling and marketing | |
| 424 | | |
| 528 | |
| General and administrative | |
| 27 | | |
| 54 | |
| Total operating expenses | |
| (451 | ) | |
| 582 | |
| Gain (Loss) from discontinued operations | |
| (31 | ) | |
| (167 | ) |
| Other income (expenses): | |
| | | |
| | |
| Interest income | |
| - | | |
| 5 | |
| Other income (expense), net | |
| - | | |
| 11 | |
| Total other income | |
| - | | |
| 16 | |
| Tax expenses | |
| (60 | ) | |
| - | |
| Net income (loss) from discontinued operations | |
$ | (91 | ) | |
$ | (151 | ) |
|