The following table summarizes the major income and expense line items from discontinued operations as reported in the condensed consolidated statements of operations (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six months ended June 30, |
|
|
Period from January 15 through June 30, |
|
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle, net |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Wholesale vehicle |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Product, net |
|
|
|
— |
|
|
|
(10 |
) |
|
|
— |
|
|
|
(21 |
) |
Total revenue |
|
|
|
— |
|
|
|
(10 |
) |
|
|
— |
|
|
|
(21 |
) |
Cost of sales: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Wholesale vehicle |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(6 |
) |
Total cost of sales |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(6 |
) |
Total gross profit (loss) |
|
|
|
— |
|
|
|
(10 |
) |
|
|
— |
|
|
|
(15 |
) |
Selling, general and administrative expenses |
|
|
|
(73 |
) |
|
|
(423 |
) |
|
|
(61 |
) |
|
|
(657 |
) |
Gain (loss) on disposal of long lived assets |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
130 |
|
Depreciation and amortization |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Income (loss) from operations |
|
|
|
73 |
|
|
|
413 |
|
|
|
61 |
|
|
|
512 |
|
Interest expense |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Interest loss |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Income (loss) before provision for income taxes |
|
|
|
73 |
|
|
|
413 |
|
|
|
61 |
|
|
|
512 |
|
Provision for income taxes |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net income (loss) from discontinued operations |
|
|
$ |
73 |
|
|
$ |
413 |
|
|
$ |
61 |
|
|
$ |
512 |
|
Net income (loss) from discontinued operations for the period from January 1, 2025, to January 14, 2025, was not material. The following table summarizes the major classes of assets and liabilities from discontinued operations as reported in the condensed consolidated balance sheets (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of
June 30, |
|
|
As of
December 31, |
|
|
|
|
|
2026 |
|
|
2025 |
|
|
ASSETS |
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
$ |
— |
|
|
$ |
— |
|
|
Other assets |
|
|
|
— |
|
|
|
46 |
|
|
Assets from discontinued operations |
|
|
$ |
— |
|
|
$ |
46 |
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
Accounts payable |
|
|
$ |
— |
|
|
$ |
82 |
|
|
Accrued expenses |
|
|
|
167 |
|
|
|
42 |
|
|
Liabilities from discontinued operations |
|
|
$ |
167 |
|
|
$ |
124 |
|
|
|