Quarterly report pursuant to Section 13 or 15(d)

Discontinuing Operations (Tables)

v3.20.2
Discontinuing Operations (Tables)
9 Months Ended
Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Summarized results of consolidated discontinued operations
Summarized results of the Company's unaudited condensed consolidated discontinuing operations are as follows for the three and nine months ended September 30, 2020 and 2019 (in thousands):

Three Months Ended September 30, Nine Months Ended September 30,
2020 2019 2020 2019
Revenue $   $ 428  $   $ 10,066 
Cost of revenues   567    7,667 
Gross profit   (139)   2,399 
Operating expenses:
Research and development   47    937 
General and administrative (9) 796  (83) 4,306 
Sales and marketing   15  1,528 
Restructuring costs   100    100 
Transaction costs 9  —  9  651 
Impairment of patents and other intangible assets   601    601 
Total operating expenses   1,559  (74) 8,123 
Income (loss) from discontinuing operations   (1,698) 74  (5,724)
Other income (expense):
Interest expense   (38)   (2,211)
Gain on disposal of Clinical Business   1,222    1,222 
Gain on disposal of BioPharma Business   7,274    7,274 
Total other income (expense)   8,458    6,285 
Net income (loss) from discontinuing operations $   $ 6,760  $ 74  $ 561 

Unaudited condensed consolidated carrying amounts of major classes of assets and liabilities from discontinuing operations were as follows as of September 30, 2020 and December 31, 2019 (in thousands):
September 30, 2020 December 31, 2019
Current assets of discontinuing operations:
Accounts receivable, net of allowance for doubtful accounts of $4,518 in 2020; $4,536 in 2019
$   $ 71 
Current assets of discontinuing operations $   $ 71 
Current liabilities of discontinuing operations
Accounts payable and accrued expenses $ 578  $ 1,137 
Due to Interpace Biosciences, Inc.   92 
Current liabilities of discontinuing operations $ 578  $ 1,229 


Cash flows used in operating activities of discontinuing operations consisted of the following for the nine-months ended September 30, 2020 and 2019 (in thousands):
  Nine Months Ended September 30,
  2020 2019
Income from discontinuing operations $ 74  $ 561 
Adjustments to reconcile income from discontinuing operations to net cash used in operating activities, discontinuing operations
Depreciation   542 
Amortization   613 
Provision for bad debts (28) 323 
Accounts payable settlements (43) — 
Stock-based compensation (8) 91 
Amortization of operating lease right-of-use assets   436 
Amortization of discount of debt and debt issuance costs   601 
Loss on extinguishment of debt   328 
Interest added to Convertible Note   343 
Gain on disposal of Clinical buisness   (1,222)
Gain on disposal of BioPharma buisness   (7,274)
Change in working capital components:
Accounts receivable 99  711 
Other current assets   277 
Other non-current assets  
Accounts payable, accrued expenses and deferred revenue (516) (1,273)
Obligations under operating leases   (368)
Due to Interpace Biosciences, Inc. (92) — 
Net cash used in operating activities, discontinuing operations $ (514) $ (5,309)