Discontinued Operations |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Discontinued Operations and Disposal Groups [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Discontinued Operations | Note 14 - Discontinued Operations
On June 30, 2025, management committed to a plan to discontinue the Company’s legacy Snacks and Beverages business, which sold packaged snack products through wholesale and distribution channels, in connection with the Company’s strategic shift toward foodservice packaging distribution, Robotics-as-a-Service and hotel operations. The discontinuation represents a strategic shift with a major effect on the Company’s operations and financial results, and the business is presented as discontinued operations under ASC 205-20 for all periods presented, with prior period amounts reclassified to conform.
At June 30, 2026 and 2025, the Company had no remaining assets of the discontinued operations. Liabilities of discontinued operations of $377,788 and $479,005, respectively, consist primarily of accounts payable and accrued liabilities and are presented separately in the consolidated balance sheets. No exit costs, impairment losses or restructuring charges were recognized in connection with the discontinuation.
NIGHTFOOD HOLDINGS, INC. AND SUBSIDIARIES DBA TECHFORCE ROBOTICS NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2026 AND 2025
Results of Discontinued Operations
The following table presents the financial results of discontinued operations for the years ended June 30, 2026 and 2025:
Liabilities of Discontinued Operations
The carrying amounts of the liabilities of discontinued operations as of June 30, 2026 and 2025 were as follows:
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