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Segment Information (Restated) | 3 Months Ended
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Jul. 02, 2022
Segment Reporting [Abstract] |
Segment Information | Note 22: Segment Information (Restated) The Company operates within targeted markets through three reportable segments for continuing operations: biotechnology, recycling, and technology. The biotechnology segment commenced operations in September 2019 and is focused on development of new and innovative solutions for ending the opioid epidemic ranging from digital technologies to educational advocacy. The recycling segment includes all fees charged and costs incurred for collecting, recycling and installing appliances for utilities and other customers. The recycling segment also includes byproduct revenue, which is primarily generated through the recycling of appliances. The technology segment designed wireless modules to connect devices to the Mobile Internet of Things (“IoT”) which contain location-based service (“LBS”) capabilities and can interface to external sensors to allow them to communicate both sensor status and position information. Further, the gain associated with the GeoTraq disposition (Technology segment) has been restated and presented as discontinued operations for the periods ending July 2, 2022. As such, the results of the Technology segment have been reclassified and presented as discontinued operations for the periods ending July 3, 2021. The nature of products, services and customers for each segment varies significantly. As such, the segments are managed separately. Our Chief Executive Officer has been identified as the Chief Operating Decision Maker (“CODM”). The CODM evaluates performance and allocates resources based on sales and income from operations of each segment. Operating loss represents revenues less cost of revenues and operating expenses, including certain allocated selling, general and administrative costs. There are no intersegment sales or transfers. The following tables present our segment information for the 26 weeks ended July 2, 2022 and July 3, 2021 (in $000's):
|  | Thirteen Weeks Ended |  |  | Twenty Six Weeks Ended |
|  | July 2, 2022 |  |  | July 3, 2021 |  |  | July 2, 2022 |  |  | July 3, 2021 |
|  | (as restated) |  |  |  |  |  | (as restated) |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Biotechnology |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recycling |  |  | 10,538 |  |  |  | 8,606 |  |  |  | 19,862 |  |  |  | 17,278 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Revenues |  | $ | 10,538 |  |  | $ | 8,606 |  |  | $ | 19,862 |  |  | $ | 17,278 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |
Biotechnology |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recycling |  |  | 1,649 |  |  |  | 1,743 |  |  |  | 3,502 |  |  |  | 3,164 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Gross profit |  | $ | 1,649 |  |  | $ | 1,743 |  |  | $ | 3,502 |  |  | $ | 3,164 |
Operating Income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Biotechnology |  | $ | (110 | ) |  | $ | (808 | ) |  | $ | (352 | ) |  | $ | (1,050 | )
Recycling |  |  | (1,147 | ) |  |  | (1,099 | ) |  |  | (1,993 | ) |  |  | (2,027 | )
Operating loss from continuing operations |  |  | (1,257 | ) |  |  | (1,907 | ) |  |  | (2,345 | ) |  |  | (3,077 | )
Discontinued operations |  |  | 10,239 |  |  |  | (945 | ) |  |  | 10,235 |  |  |  | (1,884 | )
Total Operating income (loss) |  | $ | 8,982 |  |  | $ | (2,852 | ) |  | $ | 7,890 |  |  | $ | (4,961 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
Biotechnology |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recycling |  |  | 137 |  |  |  | 110 |  |  |  | 268 |  |  |  | 218 |
Depreciation and amortization from continuing operations |  |  | 137 |  |  |  | 110 |  |  |  | 268 |  |  |  | 218 |
Discontinued operations |  |  | — |  |  |  | 935 |  |  |  | 2 |  |  |  | 1,872 |
Total Depreciation and amortization |  | $ | 137 |  |  | $ | 1,045 |  |  | $ | 270 |  |  | $ | 2,090 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |
Biotechnology |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recycling |  |  | 61 |  |  |  | 125 |  |  |  | 253 |  |  |  | 198 |
Discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Interest expense, net |  | $ | 61 |  |  | $ | 125 |  |  | $ | 253 |  |  | $ | 198 |
Net income (loss) before benefit from income taxes |  |  |  |  |  |  |  |  |  |  |  |
Biotechnology |  | $ | (110 | ) |  | $ | (808 | ) |  | $ | (352 | ) |  | $ | (1,050 | )
Recycling |  |  | (1,363 | ) |  |  | (2,992 | ) |  |  | 127 |  |  |  | (1,353 | )
Net loss before benefit from income taxes |  |  | (1,473 | ) |  |  | (3,800 | ) |  |  | (225 | ) |  |  | (2,403 | )
Discontinued operations |  |  | 10,351 |  |  |  | (974 | ) |  |  | 10,317 |  |  |  | (1,871 | )
Total Net income (loss) before benefit from income taxes |  | $ | 8,878 |  |  | $ | (4,774 | ) |  | $ | 10,092 |  |  | $ | (4,274 | )
|  | As of July 2, 2022 |  |  | As of January 1, 2022 |
Assets |  |  |  |  |  |
Biotechnology |  | $ | — |  |  | $ | — |
Recycling |  |  | 25,706 |  |  |  | 15,058 |
Discontinued operations |  |  | — |  |  |  | 107 |
Total Assets |  | $ | 25,706 |  |  | $ | 15,165 |
Intangible assets |  |  |  |  |  |
Biotechnology |  | $ | — |  |  | $ | — |
Recycling |  |  | 345 |  |  |  | 268 |
Discontinued operations |  |  | — |  |  |  | — |
Total Intangible assets |  | $ | 345 |  |  | $ | 268 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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