Summary of Major Classes of Assets and Liabilities and Results from Discontinued Operations |
The major classes of assets and liabilities from discontinued operations included the following:
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June 30, 2023 |
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|
December 31, 2022 |
|
Land |
|
— |
|
|
$ |
734 |
|
Buildings & improvements |
|
— |
|
|
|
16,529 |
|
Office furniture & equipment |
|
— |
|
|
|
86 |
|
Total assets held for sale |
|
— |
|
|
$ |
17,349 |
|
|
|
|
|
|
|
Prepaid expenses and other current assets |
|
509 |
|
|
|
571 |
|
Current assets from discontinued operations |
$ |
509 |
|
|
$ |
571 |
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
1,466 |
|
|
$ |
3,747 |
|
Loans payable |
|
— |
|
|
|
5,364 |
|
Current liabilities from discontinued operations |
$ |
1,466 |
|
|
$ |
9,111 |
|
The results of discontinued operations were as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
|
June 30, 2023 |
|
|
June 30, 2022 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
— |
|
|
$ |
1,146 |
|
|
|
|
— |
|
|
$ |
2,531 |
|
Excise and cultivation tax |
|
— |
|
|
|
(302 |
) |
|
|
|
— |
|
|
|
(613 |
) |
Revenue, net |
|
— |
|
|
|
844 |
|
|
|
|
— |
|
|
|
1,918 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Sales |
|
— |
|
|
|
1,802 |
|
|
|
|
— |
|
|
|
3,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
— |
|
|
|
(958 |
) |
|
|
|
— |
|
|
|
(1,442 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
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|
|
|
|
|
|
|
|
|
|
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General and administrative |
|
455 |
|
|
|
1,056 |
|
|
|
|
756 |
|
|
|
2,184 |
|
Amortization and depreciation |
|
— |
|
|
|
435 |
|
|
|
|
48 |
|
|
|
878 |
|
Impairment of property and equipment |
|
— |
|
|
|
— |
|
|
|
|
3,064 |
|
|
|
— |
|
Total operating expenses |
|
455 |
|
|
|
1,491 |
|
|
|
|
3,868 |
|
|
|
3,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from discontinued operations |
|
(455 |
) |
|
|
(2,449 |
) |
|
|
|
(3,868 |
) |
|
|
(4,504 |
) |
Other expense |
|
|
|
|
|
|
|
|
|
|
|
|
Finance and other expenses |
|
166 |
|
|
|
248 |
|
|
|
|
344 |
|
|
|
449 |
|
Net loss from discontinued operations |
$ |
(621 |
) |
|
$ |
(2,697 |
) |
|
|
$ |
(4,212 |
) |
|
$ |
(4,953 |
) |
|