Discontinuing Operations (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Discontinued Operations and Disposal Groups [Abstract] |
|
| Schedule of Disposal Groups Including Discontinuing Operations from Income Statement |
Results
of discontinuing operations were as follows:
Schedule of Disposal Groups Including
Discontinuing Operations from Income Statement
| |
|
|
2022 |
|
|
2021 |
|
| |
|
Years
ended December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Revenue |
|
$ |
6,406 |
|
|
$ |
3,978 |
|
| Cost
of goods sold |
|
|
3,189 |
|
|
|
2,524 |
|
| General
and administrative |
|
|
4,709 |
|
|
|
3,531 |
|
| Impairment of
goodwill and intangible assets |
|
|
5,415 |
|
|
|
20,216 |
|
| Total
operating costs and expenses |
|
$ |
13,313 |
|
|
$ |
26,271 |
|
| Loss
from discontinuing operations |
|
$ |
(6,907 |
) |
|
$ |
(22,293 |
) |
| Total
other income |
|
$ |
3 |
|
|
$ |
9 |
|
| Loss
from discontinuing operations before income taxes |
|
$ |
(6,904 |
) |
|
$ |
(22,284 |
) |
| Income
tax expense (benefit) |
|
|
(21 |
) |
|
|
- |
|
| Net
loss from discontinuing operations |
|
$ |
(6,883 |
) |
|
$ |
(22,284 |
) |
|
| Schedule of Disposal Groups Including Discontinuing Operations from Balance Sheet |
Asset
and liabilities of discontinuing operations were as follows:
Schedule
of Disposal Groups Including Discontinuing Operations from Balance Sheet
| |
|
|
2022 |
|
|
2021 |
|
| |
|
December
31, |
|
| |
|
2022 |
|
|
2021 |
|
| Accounts
receivable |
|
$ |
11 |
|
|
$ |
457 |
|
| Due from Reaction Biology Corporation |
|
|
334 |
|
|
|
|
|
| Other
current assets |
|
|
- |
|
|
|
345 |
|
| Assets
of discontinuing operations - current |
|
$ |
345 |
|
|
$ |
802 |
|
| |
|
|
|
|
|
|
|
|
| Fixed
assets, net of accumulated depreciation |
|
$ |
- |
|
|
$ |
163 |
|
| Operating
lease right-of-use assets |
|
|
- |
|
|
|
30 |
|
| Patents
and other intangible assets, net |
|
|
- |
|
|
|
8,787 |
|
| Goodwill |
|
|
- |
|
|
|
2,164 |
|
| Other
assets |
|
|
- |
|
|
|
364 |
|
| Assets
of discontinuing operations - non-current |
|
$ |
- |
|
|
$ |
11,508 |
|
| |
|
|
|
|
|
|
|
|
| Accounts
payable |
|
$ |
47 |
|
|
$ |
358 |
|
| Due to RDDT a vivoPharm Company Pty Ltd |
|
|
216 |
|
|
|
|
|
| Accrued
expense |
|
|
577 |
|
|
|
418 |
|
| Obligation
under operating lease, current |
|
|
- |
|
|
|
29 |
|
| Obligation
under finance lease, current |
|
|
- |
|
|
|
32 |
|
| Deferred
revenue |
|
|
43 |
|
|
|
1,911 |
|
| Taxes
payable |
|
|
69 |
|
|
|
365 |
|
| Other
current liabilities |
|
|
267 |
|
|
|
409 |
|
| Liabilities
of discontinued operations - current |
|
$ |
1,219 |
|
|
$ |
3,522 |
|
| |
|
|
|
|
|
|
|
|
| Obligations
under operating leases, less current |
|
$ |
- |
|
|
$ |
2 |
|
| Obligations
under finance leases, less current |
|
|
- |
|
|
|
47 |
|
| Liabilities
of discontinued operations -non- current |
|
$ |
- |
|
|
$ |
49 |
|
|
| Schedule of Intangible Assets |
There
were no intangible assets as of December 31, 2022. Intangible assets consisted of the following as of December 31, 2021:
Schedule
of Intangible Assets
| |
|
2021 |
|
| Intangible
Assets: |
|
|
|
|
| Customer
relationships |
|
$ |
8,000 |
|
| Trade
name |
|
|
1,500 |
|
|
Intangible
assets gross
|
|
|
9,500 |
|
| Less
accumulated amortization |
|
|
(713 |
) |
| Intangible
assets, net |
|
$ |
8,787 |
|
|
| Schedule of Goodwill Rollforward |
Goodwill
arising from the Merger was solely attributed to the vivoPharm business. The following is a roll forward of goodwill as of and
for the year ended December 31, 2022 and 2021:
Schedule of Goodwill Rollforward
| Beginning balance,
January 1, 2021 |
|
$ |
- |
|
| Initial
balance upon consummation of the Merger |
|
|
22,164 |
|
| Purchase price adjustments |
|
|
216 |
|
| Impairment
charge |
|
|
(20,216 |
) |
| Ending balance, December
31, 2021 |
|
$ |
2,164 |
|
| Impairment
charge |
|
|
(2,164 |
) |
| Ending
balance, December 31, 2022 |
|
$ |
- |
|
|