In July 2024, the Company sold its Indiana Farm for a sale price of $9.5 million less transaction expenses of $305 thousand, which included certain Ohio Equipment Assets with a carrying value of $13.0 million that had been purchased for the Company’s Ohio Farm Project. In December 2024, the Company announced the winddown of its Canadian fish rearing operations and sold its Canadian Farms in March 2025 for a sale price of $5.2 million, including the assumption of $3.2 million in outstanding loans, less transaction expenses of $216 thousand. These decisions by the Company represented a strategic shift that has had a major effect on the Company’s operations and financial results. Consequently, each of these farms has been designated as discontinued operations in the condensed consolidated financial statements for the periods presented.

Additionally, the Company has been working with its investment bank to identify the optimal path forward for realizing the potential of its assets, including the possible sale of the Ohio Farm Project. The Company received a non-binding Letter of Interest to purchase the Ohio subsidiary, and consequently the Company determined that the actions and decisions that occurred leading up to receiving this offer constituted a triggering event for revaluing these assets and has included the Ohio Farm Project in discontinued operations in the condensed consolidated financial statements for the periods presented.

Provided below are the major areas of the financial statements that constitute discontinued operations.


	June 30,		December 31,
	2026		2025
Assets
Prepaid and other current assets	$	83,157	$	32,454
Property, plant and equipment		9,520,000		9,520,000
Total assets held for sale	$	9,603,157	$	9,552,454
Liabilities
Accounts payable and accrued expenses	$	39,833	$	90,019
Current debt		1,238,101		7,386,235
Non-current debt		6,148,134		—
Total Liabilities held for sale	$	7,426,068	$	7,476,254


	Six months ended June 30,
		2026		2025
Cash flows from operating activities
Long-lived asset impairment	$	—	$	1,218,866
Changes in working capital		(100,889)		426,224
Cash flows from investing activities
Proceeds from asset sales		—		3,019,688
Cash flows from financing activities
Repayment of term debt		—		(32,194)


	Three months ended June 30,				Six months ended June 30,
		2026		2025		2026		2025
Costs and expenses
General and administrative	$	151,182		556,880	$	280,750	$	1,149,610
Long-lived impairment, net		—		1,525,752		—		1,218,866
Operating income (loss)		(151,182)		(2,082,632)		(280,750)		(2,368,476)
Other expense		(147,320)		(90,585)		(293,021)		(241,538)
Loss from discontinued ops	$	(298,502)	$	(2,173,217)	$	(573,771)	$	(2,610,014)