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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net (loss) income including noncontrolling interest $ (3,339,000) $ 316,000
Gain from sale of discontinued operations, net of tax 0 (2,970,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,928,000 3,000
Amortization of deferred financing costs 77,000 0
Changes in allowance for credit losses 0 0
Stock-based compensation expense 36,000 43,000
Noncash paid in kind interest expense 936,000 0
Noncash operating lease expense 1,145,000 0
Deferred income tax benefit (1,542,000) 0
Increase (decrease) in cash resulting from changes in, net of acquisition:    
Accounts receivable, net 1,093,000 (200,000)
Inventories (3,008,000) 0
Income tax receivable 0 2,000
Prepaid expenses and other current assets 515,000 (96,000)
Accounts payable 1,583,000 41,000
Accrued compensation (2,100,000) 0
Accrued expenses and other current liabilities (100,000) 630,000
Accrued income taxes 113,000 (12,000)
Net cash used in operating activities of continuing operations (2,663,000) (2,325,000)
Net cash provided by operating activities of discontinued operations 90,000 1,735,000
Net cash used in operating activities (2,573,000) (590,000)
Investing Activities    
Proceeds from sale of business 0 1,581,000
Purchases of property and equipment (704,000) (24,000)
Acquisition of Bloomia, net of cash acquired (34,178,000) 0
Receipt of escrow receivable 200,000 0
Net cash (used in) provided by investing activities of continuing operations (34,682,000) 1,557,000
Net cash used in investing activities of discontinued operations 0 (24,000)
Net cash (used in) provided by investing activities (34,682,000) 1,533,000
Financing Activities    
Proceeds from term loan 18,000,000 0
Proceeds from revolving debt 11,056,000 0
Proceeds from related party note 2,000,000 0
Proceeds from machinery financing loan 156,000 0
Repayments of long-term debt (450,000) 0
Repayments of seller note (2,700,000) 0
Repayments of revolving debt (5,065,000) 0
Principal payments on finance lease liabilities (11,000) 0
Payment of financing costs (513,000) 0
Proceeds from issuances of common stock   9,000
Repurchase of common stock, net 0 (437,000)
Net cash provided by (used in) financing activities 22,473,000 (428,000)
Effect of exchange rate changes 38,000 0
Net decrease in cash and cash equivalents (14,744,000) 515,000
Cash and cash equivalents, beginning of period 16,077,000 14,524,000
Cash and cash equivalents, end of period 1,333,000 15,039,000
Supplemental cash flow information    
Cash paid for interest 1,006,000 0
Cash paid for income taxes 438,000 79,000
Noncash purchase consideration - Equity issuance of noncontrolling interest 2,990,000 0
Noncash purchase consideration - Seller notes 15,451,000 0
Non-cash financing activities    
Common stock issued for accrued liabilities $ 0 $ 148,000