v3.26.1
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
SCHEDULE OF GAIN ON THE DISPOSITION OF DISCONTINUED OPERATIONS

The following table represents the gain on the disposition of SDC, net of income taxes, for the six months ended June 30, 2026 (in thousands):

 

      
Sales proceeds received  $16,499 
Amount held in escrow   900 
Total sales price   17,399 
Less:     
Net assets transferred to buyer   (2,405)
Transaction expenses   (784)
Income tax expense   (710)
Gain on disposition of SDC, net of income taxes  $13,500 
SCHEDULE OF AMOUNTS OF ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS

The following table represents the amounts of assets and liabilities of the discontinued operations of SDC as of December 31, 2025 (in thousands):

 

   December 31,
2025		 
Assets:     
Accounts receivable, net of allowance for credit losses  $1,021 
Contract assets   538 
Inventories   1,284 
Other current assets   9 
Equipment, net   44 
Other noncurrent assets   2 
Total assets  $2,898 
      
Liabilities:    
Accounts payable  $392 
Accrued expenses   339 
Contract liabilities   213 
Total liabilities  $944 

 

 

NOTE 2: DISCONTINUED OPERATIONS (continued)

 

The following table represents statements of operations information for the discontinued operations of SDC (in thousands):

 

   2026   2025   2026   2025 
   Three months ended June 30,   Six months ended June 30, 
   2026   2025   2026   2025 
                 
Revenue  $-   $1,707   $2,364   $3,690 
Cost of revenue   -    1,115    1,524    2,207 
Gross profit   -    592    840    1,483 
                     
Operating expenses:                    
Research and development   -    47    53    94 
Selling   -    67    62    120 
General and administrative   -    247    226    449 
Total operating expenses   -    361    341    663 
                     
Income from discontinued operations   -    231    499    820 
                     
Gain on disposition of SDC, net of income taxes   13,937    -    13,500    - 
                     
Income from discontinued operations, net of income taxes  $13,937   $231   $13,999   $820 

 

The significant components included in the accompanying condensed consolidated statements of cash flow for the discontinued operations of SDC are as follows (in thousands):

 

   2026   2025 
   Six months
ended June 30,		 
   2026   2025 
         
Net cash provided by operating activities  $60   $1,113 
Net cash provided by (used in) investing activities   15,715    (5)
Net cash provided by financing activities   -    -