v3.26.1
Discontinued Operations
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

Note 17. Discontinued Operations

 

On October 6, 2025, the Company entered into definitive agreements, including a bill of sale, assignment and assumption agreement providing for the transfer by the Company of certain assets, and a contract for the transfer of business share providing for the assignment by the Company of all of the Company’s right, title and interest in and to the issued and outstanding shares of Safegard Medical Kft, the Hungarian subsidiary, which is reflected in the accompanying financial statements as a discontinued operation.

 

Loss from discontinued operations for the three and six months ended June 30, 2025 was as follows: 

   THREE MONTHS ENDED   SIX MONTHS ENDED 
   JUNE 30, 2025   JUNE 30, 2025 
NET REVENUE (LOSS )  $86,642   $86,642 
Cost of goods sold   376,043    376,043 
Cost of goods sold - inventory reserve   730,086    730,086 
Gross Margin (Loss)   (1,019,487)   (1,019,487)
OPERATING EXPENSES:          
Selling, general and administrative  $501,739   $1,209,196 
Research and development   61,455    143,471 
Total Operating Expenses   563,194    1,352,667 
           
OTHER INCOME (EXPENSE):          
Foreign currency transaction loss and other   (63)   (41,359)
Other Income (Expense), net   (63)   (41,359)
           
Loss before income taxes (benefit)   (1,582,744)   (2,413,513)
Income tax benefit   -    132,000 
Net Loss from Discontinued Operations  $(1,582,744)  $(2,281,513)

 

There were no assets or liabilities related to discontinued operations at June 30, 2026 or December 31, 2025 as the disposal occurred in October 2025.