Note 6 - Discontinued Operations

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note 6 – Discontinued Operations 

Heat Waves Water Management

During December 2019, the Heat Waves Water Management business ceased operations. The decision to discontinue HWWM was made due to its history of net losses, declining revenues, and its failure to generate positive operating cash flow. In early 2020, the Company began disposing of the HWWM assets and plans on selling the remaining HWWM assets during the remainder of 2021. The HWWM entity was dissolved during the second quarter of 2021, and the remaining assets and liabilities were transferred to our Heat Waves entity.

Dillco

Effective November 1, 2018, the Dillco water hauling business ceased operations for customers. The Dillco entity was dissolved during the second quarter of 2021.

The following table represents a reconciliation of the carrying amounts of major classes of assets and liabilities disclosed as discontinued operations in the Balance Sheets:

	June 30,		December 31,
	2021		2020
Carrying amount of major classes of assets included as part of discontinued operations:
Property and equipment, net		-		321
Other assets		-		32
Total major classes of assets of the discontinued operation	$	-	$	353
Carrying amounts of major classes of liabilities included as part of discontinued operations:
Accounts payable and accrued liabilities		-		6
Other liabilities		-		34
Total liabilities included as part of discontinued operations	$	-	$	40

The following table represents a reconciliation of the major classes of line items constituting pretax loss of discontinued operations that are disclosed as discontinued operations in the Statements of Operations:  

	Three Months Ended June 30,
	2021		2020
Revenue	$	-	$	-
Cost of sales		-		(11	)
Sales, general, and administrative expenses		-		-
Depreciation and amortization		-		(7	)
Other expense items that are not major		-		11
Pretax loss of discontinued operations related to major classes of pretax profit		-		(7	)
Gain on disposal		-		38
Total income on discontinued operations that is presented in the Statements of Operations	$	-	$	31

	Six Months Ended June 30,
	2021			2020
Revenue	$	-		$	-
Cost of sales		(1	)		(11	)
Sales, general, and administrative expenses		-			-
Depreciation and amortization		(6	)		(13	)
Other expense items that are not major		(1	)		(1	)
Pretax loss of discontinued operations related to major classes of pretax profit		(8	)		(25	)
Gain on disposal		-			92
Total (loss) income on discontinued operations that is presented in the Statements of Operations	$	(8	)	$	67