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4. DISCONTINUED OPERATIONS

12 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

4. DISCONTINUED OPERATIONS

In June 2022, the Company determined to make available for sale the asset groups related to its energy segment due to its strategic shift to strictly focus on its bitcoin mining operations. As a result, the energy segment's results of operations have been reclassified as discontinued operations on a retrospective basis for all periods presented. Accordingly, the assets and liabilities of this segment are separately reported as “assets and liabilities held for sale” as of September 30, 2023 in the Consolidated Balance Sheets. Through September 2023, the Company sold the majority of its software and intellectual property assets related to the energy segment and is in the process of winding-down the remaining assets and liabilities.

As of September 30, 2024, the Company has impaired the assets held for sale and reclassified the remaining warranty liability of $546 to continuing operations as it winds down the former energy segment, and such liabilities are recorded within accrued liabilities. The results of operations of this segment, for all periods, are separately reported as “discontinued operations” in the Consolidated Statements of Operations and Comprehensive Loss. Provided below are the key areas of the financials that constitute the discontinued operations:

($ in thousands)		September 30, 2023
ASSETS
Current assets
Accounts receivable, net		$	126
Inventory			319
Total current assets held for sale		$	445
Total assets held for sale		$	445
LIABILITIES
Total current liabilities held for sale			1,175
Total liabilities held for sale		$	1,175

		For the twelve months ended
($in thousands)		September 30, 2024				September 30, 2023				September 30, 2022
Total revenues, net		$	—			$	158			$	9,667
Total costs and expenses			—				6,071				26,901
Loss from operations		$	—			$	(5,913	)		$	(17,234	)
Other income (expense)
Gain on disposal of assets			—				1,508				—
Interest expense			—				(24	)			(3	)
Total other income (expense)			—				1,484				(3	)
Loss before income tax benefit (expense)			—				(4,429	)			(17,237	)
Income tax benefit (expense)			—				—				—
Net loss attributable to common shareholders		$	—			$	(4,429	)		$	(17,237	)

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- References

No definition available.

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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
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/205-20/tableOfContent

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

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