DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS

Income and expense related to Craft C+P were as follows for the nine months ended September 30, 2024:

(Dollars in thousands)	2024
Sales	$	6,775
Less customer programs and excise taxes		117
Net sales		6,658
Cost of sales		6,322
Gross profit		336
Operating expenses:
Sales and marketing expenses		45
General and administrative expenses		2,355
Gain on disposal of property and equipment		(195	)
Total operating expenses		2,205
Loss from operations		(1,869	)
Other income		3
Net loss	$	(1,866	)

 

Assets and liabilities related to Bridgetown Spirits were as follows as of December 31, 2024:

(Dollars in thousands)	2024
Assets
Current assets:
Cash and cash equivalents	$	310
Inventories		1,493
Prepaid expenses and other current assets		75
Accounts receivables, net		134
Current assets of discontinued operations held for sale		2,012
Intangible assets, net		822
Right-of-use assets		372
Property and equipment, net		95
Other assets, net		180
Total Assets	$	3,481
Liabilities
Current liabilities:
Accounts payable	$	136
Accrued liabilities		170
Current portion of lease liabilities		186
Total current liabilities		492
Lease liabilities, net of current portion		163
Total liabilities	$	655

Income and expense related to Bridgetown Spirits and the spirits segment were as follows for the nine months ended September 30, 2025 and 2024:

(Dollars in thousands)	2025			2024
Net sales, spirits	$	1,143		$	1,977
Cost of sales, spirits (inclusive of depreciation)		956			1,476
Salaries and benefits		348			444
Marketing and advertising		286			254
Total operating expenses		1,590			2,174
Loss from operations		(447	)		(197	)
Other income		995			35
Net income (loss) from discontinued operations		548			(162	)
Loss from disposal of discontinued operations		(1,293	)		-
Net loss	$	(745	)	$	(162	)