Note 9 - Discontinued Operations

9 Months Ended

Sep. 30, 2024

Discontinued Operations

Discontinued Operations

Note 9 – Discontinued Operations

Throughout the third quarter of 2023, the Company took steps to cease the operations of its fully owned subsidiary, NSL. By September 30, 2023, the aggregation of these efforts resulted in the abandonment of the remaining assets associated with the subsidiary. The Company no longer retains access to the facilities and warehousing locations previously associated with NSL operations. The loss recognized related to the disposal was $1,220 and is included in loss from discontinued operations, net of tax.

The major classes of assets and liabilities of our discontinued operations as reported on the Balance Sheet are as follows:

		September 30, 2024		December 31, 2023
Carrying amounts of assets associated with NutraScience Labs included as part of discontinued operations:
Accounts receivable, net	$	-	$	161
Current assets of discontinued operations	$	-	$	161
Carrying amounts of liabilities associated with NutraScience Labs included as part of discontinued operations:
Accounts payable	$	4,321	$	4,722
Accrued expenses and other current liabilities		2,300		2,055
Short-term operating lease liabilities		480		480
Current liabilities of discontinued operations	$	7,101	$	7,257

The operating results of our discontinued operations are as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
		2024		2023			2024		2023
Net sales	$	-	$	1		$	-	$	7,106
Cost of sales		-		(9	)		-		(6,796	)
Operating costs and expense		28		(3,006	)		279		(5,325	)
Income (loss) from discontinued operations before Provision for income taxes		28		(3,014	)		279		(5,015	)
Provision expense for income taxes		-		-			-		-
Income (loss) from discontinued operations, net of tax	$	28	$	(3,014	)	$	279	$	(5,015	)