Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v3.8.0.1
Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Gain Loss on Disposal of Discontinued Operations [Table Text Block]
During the year ended December 31, 2017, the Company recorded a gain of approximately $1.7 million (net of tax of $0) on the sale of the assets related to the Argentum Purchase Agreement, pursuant to the following (in thousands):
 
Proceeds from sale
 
 
 
 
 
 
 
Consideration for inventory
 
$
112
 
 
 
 
Consideration for intangible assets
 
 
3,600
 
 
 
 
Total Consideration
 
 
 
 
 
3,712
 
Less: Net book value of assets sold to Argentum
 
 
 
 
 
 
 
Inventory, net
 
 
(307)
 
 
 
 
Intangibles, net
 
 
(1,709)
 
 
 
 
Total net book value of assets
 
 
 
 
 
(2,016)
 
Gain on sale of assets
 
 
 
 
$
1,696
 
 
During the year ended December 31, 2016, the Company recorded a gain of approximately $3.3 million (net of tax of $0) on the sale of the assets related to the purchase agreement with BSN, pursuant to the following (in thousands):
 
Proceeds from sale
 
 
 
 
 
 
 
Consideration for inventory
 
$
603
 
 
 
 
Consideration for intangible assets
 
 
3,500
 
 
 
 
Total Consideration
 
 
 
 
 
4,103
 
Less: Net book value of assets sold BSN
 
 
 
 
 
 
 
Inventory, net
 
 
(603)
 
 
 
 
Intangibles, net
 
 
(189)
 
 
 
 
Total net book value of assets
 
 
 
 
 
(792)
 
Gain on sale of assets
 
 
 
 
$
3,311
 
Disposal Groups, Including Discontinued Operations [Table Text Block]
Summarized operating results of discontinued operations for the years ended December 31, 2017 and 2016 are presented in the following table (in thousands):
 
 
 
Years Ended December 31,
 
 
 
2017
 
2016
 
 
 
 
 
 
 
Revenue, net of returns, allowances and discounts
 
$
1,242
 
$
3,655
 
Cost of revenues
 
 
396
 
 
1,140
 
Gross profit
 
 
846
 
 
2,515
 
Selling, general and administrative
 
 
392
 
 
1,030
 
Income from discontinued operations, net of tax
 
$
454
 
$
1,485
 
 
Summarized assets and liabilities of discontinued operations are presented in the following table (in thousands):
 
 
 
December 31
 
December 31,
 
 
 
2017
 
2016
 
Accounts receivable, net
 
$
17
 
$
307
 
Escrow
 
 
300
 
 
-
 
Inventory, net
 
 
-
 
 
550
 
Total current assets
 
 
317
 
 
857
 
Intangible assets, net
 
 
-
 
 
1,893
 
Total assets
 
 
317
 
 
2,750
 
 
 
 
 
 
 
 
 
Accounts payable
 
 
-
 
 
19
 
Accrued expenses and other current liabilities
 
 
-
 
 
41
 
Total current liabilities
 
$
-
 
$
60