Subsequent Events

6 Months Ended

Dec. 31, 2024

Note 14. – Subsequent Events

A subsidiary, SHST Technology, an IT business was sold in January 2025 for cash of $50 and a note receivable of $100. The note receivable is payable in two installments of $50 each in March and June 2025. An impairment loss of $100 was recorded in the three and six months ended December 31, 2024 for the estimated loss on sale of the business. SHST Technology net assets and liabilities (including a $100 impairment reserve) are shown as current assets held for sale and current liabilities held for sale on the December 31, 2024 condensed consolidated balance sheet.

Details of assets and liabilities held for sale of SHST Technology at December 31, 2024 are as follows:


	December 31,
	2024
Receivables - net	$	181
Prepaid expenses and other assets		31
Property, plant and equipment, net		144
Impairment reserve		(100	)
Total assets held for sale	$	256
Accounts payable	$	28
Accrued payroll and related taxes		78
Total liabilities held for sale	$	106

On January 6, 2025, the Company and Regional jointly announced that they have entered into a definitive agreement and plan of merger, dated January 3, 2025, pursuant to which the Company to merge with and into Regional. See Note 2. Merger.