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Discontinued Operations | 3 Months Ended
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Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Note 11. Discontinued Operations: During the quarter ended March 31, 2017, the Company made the decision to discontinue the operations of its wholly-owned subsidiary BDI. BDI had developed a proprietary Enhanced Surface Plasmon Resonance technology platform for the detection of molecular interactions. The decision to adopt this plan was made following an evaluation by the Company’s Board of Directors in January 2017 of the estimated results of operations projected during the near to mid-term period for BDI, including consideration of product development required and updated sales forecasts, and estimated additional cash resources required. The Company substantially disposed of the BDI assets and operations during 2017 by selling the assets and licensing the intellectual property rights. The Company has recognized the exit of BDI in accordance with ASC 205-20, Discontinued Operations. As such, the historical results of BDI, following its 2016 acquisition, have been classified as discontinued operations. The Company’s historical financial statements have been revised to present the operating results of the BDI business as a discontinued operation. Assets and liabilities related to the discontinued operations of BDI were approximately as follows as of March 31, 2018 (unaudited) and December 31, 2017:
Current Liabilities |  | March 31, 2018 |  |  | December 31, 2017 |
Accounts payable |  | $ | 16,000 |  |  | $ | 16,000 |
Accrued expenses |  |  | - |  |  |  | 28,000 |
Deferred revenue |  |  | - |  |  |  | 137,000 |
Total current liabilities |  | $ | 16,000 |  |  | $ | 181,000 |
Summarized results of the discontinued operation are as follows for the three months ended March 31, 2018 and 2017 (unaudited):
|  | March 31, 2018 |  |  | March 31, 2017 |
Revenue |  | $ | 137,000 |  |  | $ | 13,000 |
Cost of revenue |  |  | 41,000 |  |  |  | 2,000 |
Gross margin |  |  | 96,000 |  |  |  | 11,000 |
Operating expenses |  |  | - |  |  |  | 654,000 |
Operating income (loss) |  |  | 96,000 |  |  |  | (643,000 | )
Impairment loss |  |  | - |  |  |  | (2,704,000 | )
Income (loss) from discontinued operations |  | $ | 96,000 |  |  | $ | (3,347,000 | )

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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