Discontinued Operations (Tables)

9 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of discontinued operations

The following table presents a reconciliation of the major financial lines constituting the results of operations for discontinued operations to the loss from discontinued operations presented separately in the condensed consolidated statements of operations (in thousands):

	Three Months Ended		Three Months Ended
	March 31,		March 31,
	2023		2022
Revenues	$	205	$	143
Cost of goods sold		25		48
Gross profit		180		95
Operating expenses:
Research and development		837		2,278
General and administrative		929		3,211
Gain on sale of fixed assets		(732)		—
Total operating expenses		1,034		5,489
Other expenses:
Interest expense - term note payable		(158)		(249)
Other		(3)		(1)
Total other expenses		(161)		(250)
Loss from discontinued operations	$	(1,015)	$	(5,644)

	Nine Months Ended		Nine Months Ended
	March 31,		March 31,
	2023		2022
Revenues	$	391	$	438
Cost of goods sold		52		201
Gross profit		339		237
Operating expenses:
Research and development		6,361		5,128
General and administrative		6,165		8,659
Fixed asset impairments		17,600		—
Gain on sale of fixed assets		(732)		—
Inventory reserve		4,933		—
Total operating expenses		34,327		13,787
Other income (expenses):
Interest expense - term note payable		(606)		(372)
Interest expense - related party		—		(810)
Forgiveness of note payable and accrued interest - SBA loan		—		607
Other		(4)		1
Total other income (expenses)		(610)		(574)
Loss from discontinued operations	$	(34,598)	$	(14,124)

The following table presents net carrying values related to the major classes of assets that were classified as held for sale at March 31, 2023 and June 30, 2022 (in thousands):

	March 31,		June 30,
	2023		2022
Current assets:
Inventory	$	—	$	3,900
Operating lease right-of-use assets		1,944		—
Property and equipment, net		16,424		—
Total current assets	$	18,368	$	3,900
Other assets:
Property and equipment, net	$	—	$	35,289
Finance lease right-of-use assets		—		74
Operating lease right-of-use assets		—		1,951
Total other assets	$	—	$	37,314
Current liabilities:
Finance lease obligation	$	—	$	46
Operating lease obligation		1,944		10
Total current liabilities	$	1,944	$	56
Long-term liabilities:
Finance lease obligation	$	—	$	30
Operating lease obligation		—		1,941
Total long-term liabilities	$	—	$	1,971

The following table presents the supplemental disclosures related to discontinued operations for the statements of cash flows (in thousands):

	Nine Months Ended		Nine Months Ended
	March 31,		March 31,
	2023		2022
Depreciation expense	$	273	$	1,532
Amortization of finance lease right-of-use assets		20		587
Purchase of fixed assets		1,041		28,384
Fixed asset impairments		17,600		—
Inventory reserve		4,933		—
Sales proceeds of fixed assets		2,100		—
Investing non-cash transactions:
Fixed assets included in accounts payable in prior period, paid in current period		1,542		791
Unpaid fixed assets included in accounts payable		—		2,193
Sales of fixed assets receivable		460		—