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Sale of Cryosurgical Systems Business
9 Months Ended
Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]  
Sale of Cryosurgical Systems Business

4. Sale of Cryosurgical Systems Business

On August 16, 2019, we sold all rights and title to the assets necessary to operate our cryosurgical systems line of business to CryoConcepts LP (“CryoConcepts”) for $12,000.  This business consisted of medical devices used for the removal of benign skin lesions by cryosurgery or freezing. The products were sold in both the professional and OTC markets in North America, Europe, Central and South America and Australia.  We also entered into a transition services agreement with CryoConcepts in which both parties agreed to provide certain transition services beginning after the closing.  The Company recorded a gain on sale of business of $10,149 reflected in our statement of income for the quarter and year ended September 30, 2019. The gain includes the $12,000 of proceeds net of the fair value of the assets sold, which consisted entirely of inventory and fully-depreciated fixed assets, the legal fees associated with the transaction, and a value attributed to the transition services.