Discontinued Operations

12 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

BH Holdings, S.A.S ("BHH")

On January 12, 2012 BHH initiated the filing of an insolvency declaration with the Tribunal de Commerce de Rennes, France ("Commercial Court").  The Commercial Court on January 18, 2012 opened the liquidation proceedings with continuation of BHH's activity for 3 months and named an administrator to manage BHH. Since Drew no longer had a controlling financial interest in BHH it was deconsolidated in the December 31, 2011 quarterly consolidated financial statements and prior period amounts are presented as discontinued operations.

The following table summarizes the results of discontinued operations of BHH for the years ended June 30, 2016 and 2015 (in thousands):

For the years ended June 30,	2016		2015
Revenue, net	$	—	$	—
Cost of goods	—		—
Marketing, general and administrative	—		2
Research & development	—		—
Total costs and expenses	—		2
Loss from discontinued operations	$	—	$	(2	)
Other income and expenses:
Adjustment to lease termination accrual	—		507
Loss before income taxes	—		505
Income tax	—		—
Net loss	$	—	$	505

Assets and liabilities of discontinued operations of BHH included in the consolidated balance sheets are summarized as follows at June 30, 2016 and 2015 (in thousands):

	June 30,			June 30,
	2016			2015
Assets
Total assets	$	—		$	—
Liabilities
Accrued lease termination costs	89			86
Total liabilities	89			86
Net assets of discontinued operations	$	(89	)	$	(86	)

During fiscal year 2015 the Company was informed by French Counsel that the total amount claimed by the BHH landlord in the liquidation of BHH was approximately $86,000. The Company did not have insight into the French liquidation process due to the Liquidator's reticence to communicate with the Company. As such, the Company had accrued the present value of the maximum amount potentially due under the lease guaranteed by the Company on behalf of BHH. The landlord's claim under liquidation of approximately $86,000 can not be revisited by the landlord and can only be potentially increased by interest or sundry expenses. Beginning in 2016 any changes to this liability are included in continuing operations.

Discontinued operation of ECD

The following tables summarize the results of discontinued operations for the years ended June, 2016 and 2015 (in thousands):

For the years ended June 30,	2016		2015
Revenue, net	$	—	$	—
Cost of goods sold	—		—
Marketing, general and administrative	—		1
Research & development	—		—
Total costs and expenses	—		1
Other income	—		7
Net income from discontinued operations, net of tax	$	—	$	6