XML 35 R24.htm IDEA: XBRL DOCUMENT

Discontinued Operations - Sale of VitaMedica

9 Months Ended

Mar. 31, 2025

Discontinued Operations - Sale of VitaMedica

Discontinued Operations - Sale of VitaMedica

Note 17. Discontinued Operations – Sale of VitaMedica

On June 13, 2024, the Company sold VitaMedica, Inc. to three investors and had an effective day of June 1, 2024. One of the minority interest investors is Allan Marshall, the Company’s Chief Executive Officer. The purchase price for the stock was $6,000,000, subject to certain customary post-closing adjustments. In addition, the Buyers are obligated to pay the Company for services provided according to the Transition Services Agreement. Accordingly, the results of the business were classified as discontinued operations in our statements of operations and excluded both continuing operations for all periods presented. Discontinued operations of VitaMedica excluded in the condensed consolidated financial statements for the three and nine months ended March 31, 2024 are as follows:

	Three Months Ended		Nine Months Ended
	March 31, 2024		March 31, 2024
Discontinued Operations
Revenue	$	2,673,744	$	6,708,021
Cost of sales	$	587,142	$	1,480,486
Sales, general and administrative expenses	$	1,888,490	$	4,694,350
Depreciation and amortization	$	115,896	$	353,646
Income (loss) from discontinued operations	$	81,978	$	239,908
Accounts receivable net of allowance for doubtful accounts	$	444,730	$	444,730
Fixed assets, net of accumulated depreciation	$	54,791	$	54,791
Total assets	$	4,901,950	$	4,901,950
Total liabilities	$	403,460	$	403,460