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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 28, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations in Consolidated Statements of Operations and Cash Flows | The following table details the final calculation of the gain on sale of the Recycling Subsidiaries, as shown on the income statement (in $000’s):
Total minimum consideration | $ | 6,023 |
Payment from buyer | 3 |
Net consideration | $ | 6,026 |
Accounts payable | 5,323 |
Accrued liabilities | 1,857 |
Accrued liabilities - California state sales tax | 6,320 |
Lease liabilities | 5,285 |
Debt | 2,139 |
Accumulated other comprehensive loss | (604) |
Total disposal of liabilities | 20,320 |
Total consideration | 26,346 |
Cash | 145 |
Accounts receivable | 4,884 |
Inventory | 67 |
Property, plant and equipment | 2,767 |
Intangible assets | 732 |
Right-of-use assets | 5,075 |
Other assets | 574 |
Total disposal of assets | 14,244 |
Total gain on sale | $ | 12,102 |
The results of operations for these entities for the year ended December 28, 2024 and December 30, 2023, respectively, have been reflected as discontinued operations in the consolidated statements of operations and comprehensive income (loss) and consist of the following (in $000’s):
| December 28, 2024 |  | December 30, 2023
Revenues | $ | — |  |  | $ | 3,795 |
Cost of revenues | — |  |  | 3,992 |
Gross profit | — |  |  | (197) |
Operating expenses from discontinued operations: |  |  |
Selling, general and administrative expenses | — |  |  | 1,467 |
Gain on sale of ARCA | — |  |  | (12,102) |
Total operating expenses from discontinued operations | — |  |  | (10,635) |
Operating income from discontinued operations | — |  |  | 10,438 |
Other expense from discontinued operations |  |  |
Interest expense, net | — |  |  | (181) |
Other expense, net | — |  |  | (3) |
Total other expense, net | — |  |  | (184) |
Income before provision for income taxes from discontinued operations | — |  |  | 10,254 |
Income tax provision | — |  |  | 971 |
Net income from discontinued operations | $ | — |  |  | $ | 9,283 |
The cash flow activity from discontinued operations for the year ended December 28, 2024 and December 30, 2023 have been reflected as discontinued operations in the consolidated statements of cash flows and consist of the following (in $000’s):
| December 28, 2024 |  | December 30, 2023
DISCONTINUED OPERATING ACTIVITIES: |  |  |
Net income from discontinued operations | — |  |  | 9,283 |
Depreciation and amortization | — |  |  | 96 |
Amortization of debt issuance costs | — |  |  | 11 |
Amortization of right-of-use assets | — |  |  | 52 |
Gain on sale of ARCA, net of cash | — |  |  | (12,248) |
Changes in assets and liabilities: |  |  |
Accounts receivable | — |  |  | 2,932 |
Inventories | — |  |  | 299 |
Prepaid expenses and other current assets | — |  |  | 56 |
Accounts payable and accrued expenses | — |  |  | 1,837 |
Other assets | — |  |  | 1 |
Net cash provided by operating activities from discontinued operations | $ | — |  |  | $ | 2,319 |
DISCONTINUED INVESTING ACTIVITIES: |  |  |
Purchases of property and equipment | — |  |  | (123) |
Purchase of intangible assets | — |  |  | (32) |
Net cash used in investing activities from discontinued operations | $ | — |  |  | $ | (155) |
DISCONTINUED FINANCING ACTIVITIES: |  |  |
Proceeds from note payable | — |  |  | 5,162 |
Payments on related party note | — |  |  | (38) |
Payments on notes payable | — |  |  | (7,336) |
Net cash used in financing activities from discontinued operations | $ | — |  |  | $ | (2,212) |
Effect of changes in exchange rate on cash and cash equivalents | — |  |  | (5) |
DECREASE IN CASH AND CASH EQUIVALENTS | — |  |  | (53) |
CASH AND CASH EQUIVALENTS, beginning of period | — |  |  | 53 |
CASH AND CASH EQUIVALENTS, end of period | $ | — |  |  | $ | — |

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