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Discontinued Operations

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONSOn June 16, 2021, the Company made the strategic decision to pursue the sale of CES, the service offerings of which include consulting, environmental studies, remediation services, and site-specific solutions for projects that may have an environmental impact. The Company made this decision to focus on its core asset management operations based on the continued growth and future prospects of the asset management business. CES met the criteria to be classified as a discontinued operation in June 2021. The sale of CES is expected to be completed within the next 12 months.

The major classes of assets and liabilities designated as held for sale in the Condensed Consolidated Balance Sheets are as follows:

			June 30, 2021						December 31, 2020
ASSETS
Trade receivables			2,459						1,420
Trade receivables - related parties			90						30
Prepaid and other assets			66						27
Total current assets held for sale			2,615						1,477
Fixed assets, net			105						96
Goodwill			1,377						1,702
Intangible assets, net			3						36
Total assets held for sale			$	4,100					$	3,312
LIABILITIES
Accrued personnel costs			$	135					$	109
Accounts payable and accrued liabilities			1,982						633
Notes payable			30						—
Total liabilities held for sale			$	2,147					$	742

The following are the operating results for CES which have been reflected within income from discontinued operations:

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Revenue			$	2,626					$	1,960					$	4,103					$	3,491
Operating expenses
Direct costs - real estate services			1,958						1,097						3,045						2,479
General and administrative			653						247						1,039						526
Sales and marketing			132						220						280						379
Operating income			(117)						396						(261)						107
Interest expense			(1)						(16)						(1)						(31)
Other income			—						2						—						13
Income (loss) from discontinued operations, before loss on classification			(118)						382						(262)						89
Loss on classification as held for sale			(325)						—						(325)						—
Income (loss) from discontinued operations			$	(443)					$	382					$	(587)					$	89

The income tax expense associated with the results of CES are not material.

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- References

No definition available.

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- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2122178

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