XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Net premiums earned $ 3,697 $ 4,472
Net investment loss (4,011) (3,690) (7,411) (7,232)
Net product sales 4,782 3,794 9,417 7,564
Net services revenue 3,406 3,232 6,651 6,137
Total revenue 7,874 3,336 13,129 6,469
Expenses:        
Net losses and loss adjustment expenses 2,094 2,460
Amortization of deferred policy acquisition costs 872 1,156
Costs of products 3,973 3,542 7,874 6,875
Costs of services 2,514 2,285 4,880 4,451
Selling expense 370 161 658 398
General and administrative expenses 4,104 3,559 7,493 5,693
(Gain) loss on impairment and disposal of assets (5) 1,475 (5)
Total expenses 13,927 9,542 25,996 17,412
Loss from operations (6,053) (6,206) (12,867) (10,943)
Other income (expense):        
Interest expense, net (91) (93) (233) (162)
Foreign currency transaction loss (5) (6) (2)
Bargain purchase on acquisition and other income, net 1 1,858 24
Total other (expense) income, net (96) (92) 1,619 (140)
Loss from continuing operations before income taxes (6,149) (6,298) (11,248) (11,083)
Income tax (expense) benefit 74 14 91 7
Net loss from continuing operations (6,075) (6,284) (11,157) (11,076)
Net income from discontinued operations (Note 4) 150 893 785 1,694
Net loss (5,925) (5,391) (10,372) (9,382)
Net loss attributable to non-controlling interest (143) (118) (160) (118)
Dividends declared on Series A Preferred Shares (447) (516)
Loss attributable to common shareholders $ (6,229) $ (5,273) $ (10,728) $ (9,264)
Basic and diluted net (loss) income per common share:        
Continuing operations - basic $ (0.22) $ (0.63) $ (0.51) $ (1.15)
Continuing operations - diluted (0.22) (0.63) (0.51) (1.15)
Discontinued operations - basic 0.00 0.09 0.04 0.18
Discontinued operations - diluted 0.00 0.09 0.04 0.18
Total - basic (0.22) (0.54) (0.47) (0.97)
Total - diluted $ (0.22) $ (0.54) $ (0.47) $ (0.97)
Weighted average common shares outstanding:        
Weighted average common shares outstanding - basic 28,518 9,705 22,651 9,564
Weighted average common shares outstanding - diluted 28,518 9,705 22,651 9,564