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NOTE 2. - DISCONTINUED OPERATIONS AND DIVESTITURES

Net loss from discontinued operations for the three and six months ended June 30, 2026 and 2025 was as follows:

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During the three and six month period ended June 30, 2025, the Company settled outstanding obligations which resulted in reversals of previously accrued liabilities of $84 and $421, respectively.

Effective June 24, 2024, GVB Biopharma (“GVB”), the Company’s former subsidiary, made a scheduled principal and interest payment against the Company’s prior outstanding indebtedness to JGB under the former Senior Secured Credit Facility, reducing the Company’s total outstanding principal indebtedness with JGB by $1,500. The remaining $500 payable by GVB under the 2023 GVB Promissory Note was initially extended to December 31, 2024, and subsequently to March 31, 2025.  As of March 31, 2025, the 2023 GVB Promissory Note was in default with respect to payment at maturity of the contractual term and accordingly an allowance for credit loss was initially recorded as of March 31, 2025 in the amount of $500.  

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In connection with the September 18, 2025 full repayment of the Senior Secured Credit Facility, the Company entered into a new 2025 GVB Promissory Note with GVB in the amount of $500, payable in installments of $100 each on November 1, 2025, January 1, 2026 and February 1, 2026, with the remaining balance of $200 payable over a term of 31 monthly installments thereafter. The Company has received payments totaling $125 on the 2025 GVB Promissory Note through June 30, 2026. All other payments remain outstanding, triggering the 2025 GVB Promissory Note default provisions and accrual of penalty interest. As of June 30, 2026, the Company continues to maintain a full allowance for credit loss against the 2025 GVB Promissory Note.

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Cash flow information from discontinued operations for the six months ended June 30, 2026 and 2025 was as follows:

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