Discontinued Operations

9 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 2: DISCONTINUED OPERATIONS

As a result of receiving letters of intent for the sale of key assets of Sable, Pioneer and Magnolia Solar, and the approval by the Company's Board in May 2018 to sell the assets, those assets were included in assets held for sale and their operations included in discontinued operations. All discontinued operations have been sold or ceased operations by December 31, 2019, so there are no remaining assets or liabilities of the discontinued operations.

Carrying amounts of major classes of assets and liabilities classified as held for sale and included as part of discontinued operations in the condensed consolidated balance sheet as of March 31, 2019 consisted of the following:

Other current assets	$	23
Current assets – held for sale	$	23
Accounts payable	$	23
Accrued liabilities		11
Current liabilities – held for sale	$	34

Major line items constituting loss from discontinued operations in the condensed consolidated statements of operations consisted of the following:

	Nine months ended December 31,
	2019		2018
Revenue	$	-	$	7,941
Cost of revenue		-		8,448
Gross loss		-		(507	)
Operating expenses		-		1,416
Loss from discontinued operations	$	-	$	(1,923	)
Non-cash expenses	$	-	$	451

After consideration of all the evidence, both positive and negative, management has recorded a full valuation allowance due to the uncertainty of realizing income tax benefit for all periods presented, and the income tax provision for all periods presented was considered immaterial. Thus, no separate tax provision or benefit relating to discontinued operations is included here or on the face of the condensed consolidated statements of operations.

Non-cash expenses above consist principally of depreciation, amortization and impairment expense. Capital expenditures of discontinued operations were principally at Sable and amounted to $0 and $249 for the nine months ended December 31, 2019 and 2018, respectively.