| Results of Discontinued Operations, Assets and Liabilities of Discontinued Operations |
The results of discontinued operations for 2018 are as follows (in thousands):
|
|
Verykool |
|
|
OneClick International |
|
|
OneClick Argentino |
|
|
Verablue Caribbean |
|
|
TOTAL |
|
|
Net sales |
$ |
6,486 |
|
|
$ |
1,908 |
|
|
$ |
9,046 |
|
|
$ |
1,607 |
|
|
$ |
19,047 |
|
|
Cost of sales |
|
6,876 |
|
|
|
1,673 |
|
|
|
6,154 |
|
|
|
1,244 |
|
|
|
15,947 |
|
|
Gross profit (loss) |
|
(390 |
) |
|
|
235 |
|
|
|
2,892 |
|
|
|
363 |
|
|
|
3,100 |
|
|
Selling, general and administrative expenses |
|
1,457 |
|
|
|
950 |
|
|
|
3,452 |
|
|
|
567 |
|
|
|
6,426 |
|
|
Goodwill and intangible impairments |
|
3,343 |
|
|
|
354 |
|
|
|
4,143 |
|
|
|
4,475 |
|
|
|
12,315 |
|
|
Operating loss |
|
(5,190 |
) |
|
|
(1,069 |
) |
|
|
(4,703 |
) |
|
|
(4,679 |
) |
|
|
(15,641 |
) |
|
Other income (expense), net |
|
39 |
|
|
|
(90 |
) |
|
|
(537 |
) |
|
|
6 |
|
|
|
(582 |
) |
|
Loss from discontinued operations before income taxes |
|
(5,151 |
) |
|
|
(1,159 |
) |
|
|
(5,240 |
) |
|
|
(4,673 |
) |
|
|
(16,223 |
) |
|
Provision for income taxes |
|
(2 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
|
Net loss from discontinued operations |
$ |
(5,153 |
) |
|
$ |
(1,159 |
) |
|
$ |
(5,240 |
) |
|
$ |
(4,673 |
) |
|
$ |
(16,225 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The results of discontinued operations for 2019 are as follows (in thousands):
|
|
Verykool |
|
|
OneClick International |
|
|
OneClick Argentino |
|
|
Verablue Caribbean |
|
|
TOTAL |
|
|
Net sales |
$ |
47 |
|
|
$ |
1 |
|
|
$ |
8,029 |
|
|
$ |
3,849 |
|
|
$ |
11,926 |
|
|
Cost of sales |
|
118 |
|
|
|
13 |
|
|
|
5,374 |
|
|
|
2,783 |
|
|
|
8,288 |
|
|
Gross profit (loss) |
|
(71 |
) |
|
|
(12 |
) |
|
|
2,655 |
|
|
|
1,066 |
|
|
|
3,638 |
|
|
Selling, general and administrative expenses |
|
(16 |
) |
|
|
501 |
|
|
|
2,703 |
|
|
|
1,057 |
|
|
|
4,245 |
|
|
Goodwill and intangible impairments |
|
— |
|
|
|
630 |
|
|
|
— |
|
|
|
— |
|
|
|
630 |
|
|
Operating loss |
|
(55 |
) |
|
|
(1,143 |
) |
|
|
(48 |
) |
|
|
9 |
|
|
|
(1,237 |
) |
|
Loss on assets held for sale |
|
— |
|
|
|
— |
|
|
|
(1,932 |
) |
|
|
(698 |
) |
|
|
(2,630 |
) |
|
Other income (expense), net |
|
25 |
|
|
|
(14 |
) |
|
|
(678 |
) |
|
|
(8 |
) |
|
|
(675 |
) |
|
Loss from discontinued operations before income taxes |
|
(30 |
) |
|
|
(1,157 |
) |
|
|
(2,658 |
) |
|
|
(697 |
) |
|
|
(4,542 |
) |
|
Provision for income taxes |
|
(2 |
) |
|
|
— |
|
|
|
— |
|
|
|
78 |
|
|
|
76 |
|
|
Net loss from discontinued operations |
$ |
(32 |
) |
|
$ |
(1,157 |
) |
|
$ |
(2,658 |
) |
|
$ |
(619 |
) |
|
$ |
(4,466 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets of discontinued operations held for sale at December 31, 2019 are as follows (in thousands):
|
|
OneClick Argentino |
|
|
Verablue Caribbean |
|
|
TOTAL |
|
|
Cash |
$ |
256 |
|
|
$ |
51 |
|
|
$ |
307 |
|
|
Trade accounts receivable |
|
682 |
|
|
|
42 |
|
|
|
724 |
|
|
Other accounts receivable |
|
272 |
|
|
|
389 |
|
|
|
661 |
|
|
Inventory |
|
916 |
|
|
|
447 |
|
|
|
1,363 |
|
|
Prepaid assets |
|
27 |
|
|
|
11 |
|
|
|
38 |
|
|
Total current assets |
|
2,153 |
|
|
|
940 |
|
|
|
3,093 |
|
|
Property and equipment, net |
|
76 |
|
|
|
196 |
|
|
|
272 |
|
|
Operating lease right-of-use assets |
|
98 |
|
|
|
178 |
|
|
|
276 |
|
|
Other assets |
|
— |
|
|
|
30 |
|
|
|
30 |
|
|
Total assets of discontinued operations held for sale |
|
2,327 |
|
|
|
1,344 |
|
|
|
3,671 |
|
|
Valuation allowance |
|
(1,932 |
) |
|
|
(698 |
) |
|
|
(2,630 |
) |
|
Net assets of discontinued operations held for sale |
$ |
395 |
|
|
$ |
646 |
|
|
$ |
1,041 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities of discontinued operations held for sale at December 31, 2019 are as follows (in thousands):
|
|
OneClick Argentino |
|
|
Verablue Caribbean |
|
|
TOTAL |
|
|
Accounts payable |
$ |
769 |
|
|
$ |
282 |
|
|
$ |
1,051 |
|
|
Accrued expenses |
|
546 |
|
|
|
20 |
|
|
|
566 |
|
|
Operating lease liabilities |
|
99 |
|
|
|
182 |
|
|
|
281 |
|
|
Total liabilities |
$ |
1,414 |
|
|
$ |
484 |
|
|
$ |
1,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|