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Discontinued Operations | 12 Months Ended
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Dec. 31, 2018
Discontinued Operations And Disposal Groups [Abstract] |
Discontinued Operations | NOTE 4—DISCONTINUED OPERATIONS During the fourth quarter of 2018, the Company completed the closure of the verykool business segment that had been the legacy business of InfoSonics prior to the Merger. By December 31, 2018, the verykool product inventory was substantially liquidated, the trade name was sold, remaining assets consisted primarily of accounts receivable, and remaining liabilities consisted primarily of estimated warranty obligations and a $250,000 note payable to a vendor that was repaid in March 2019. The historical results of the verykool segment, including the impairment of goodwill assigned to the segment at the time of the Merger, are reported as discontinued operations in our consolidated financial statements for all periods from the merger through December 31, 2018. The results of discontinued operations for 2018 are as follows (in thousands):
|  | 2018 |
Net sales |  | $ | 6,486 |
Cost of sales |  |  | 6,876 |
Gross profit (loss) |  |  | (390 | )
Selling, general and administrative expenses |  |  | 1,457 |
Goodwill impairment |  |  | 3,343 |
Operating loss |  |  | (5,190 | )
Other income, net |  |  | 39 |
Loss from discontinued operations before income taxes |  |  | (5,151 | )
Provision for income taxes |  |  | (2 | )
Net loss from discontinued operations |  | $ | (5,153 | )

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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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