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Note 14 - Discontinued Operations | 9 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 14 - Discontinued Operations In connection with the Dubin acquisition, certain assets acquired are still owned by us and classified as held-for-sale. When we acquired Dubin, there were two business lines. Dubin Workforce Solutions specialized in temporary labor assignments. The Dubin Group focused on permanent recruiting. We immediately sold the assets of Dubin Workforce Solutions to a new franchisee. There was not a franchisee identified for the Dubin Group portion of the business, however, we began marketing the franchise and classified it as held-for-sale immediately upon acquisition. We entered into an employment agreement with the seller to continue managing the business as a Company-owned location while it was held-for-sale. During 2024, we actively solicited but did not receive any reasonable offers to purchase the assets and, in response, have adjusted the price and increased efforts to grow the customer base. The franchise continues to be actively marketed at a price that is reasonable given its results of operation. We expect to complete a sale of these assets within the next 12 months. During the third quarter of 2025, we reviewed the intangible assets associated with discontinued operations for any indications of impairment. As a result of this review, we concluded the carrying value of the intangible asset associated with discontinued operations exceeded its estimated fair value resulting in an impairment charge of $100 thousand which is reported on the line item "Loss from discontinued operations, net of tax" on our Consolidated Statement of Operations. The fair value of discontinued operations was estimated using a discounted cash flow model. The related impairment is primarily attributable to industry and market conditions effecting the overall financial performance of this location. Intangible assets associated with discontinued operations consist of a customer list with a net carrying value of approximately $791 thousand and $891 thousand at September 30, 2025 and December 31, 2024, respectively. The net loss from discontinued operations as reported in our Consolidated Statements of Operations was comprised of the following amounts:
|  | Three months ended |  |  | Nine months ended |
(in thousands) |  | September 30, 2025 |  |  | September 30, 2024 |  |  | September 30, 2025 |  |  | September 30, 2024 |
Revenue |  | $ | 132 |  |  | $ | 258 |  |  | $ | 433 |  |  | $ | 593 |
Cost of staffing services |  |  | 77 |  |  |  | 82 |  |  |  | 173 |  |  |  | 203 |
Gross profit |  |  | 55 |  |  |  | 176 |  |  |  | 260 |  |  |  | 390 |
Selling, general and administrative expenses |  |  | (98 | ) |  |  | (232 | ) |  |  | (415 | ) |  |  | (580 | )
Impairment of intangible asset |  |  | (100 | ) |  |  | - |  |  |  | (100 | ) |  |  | - |
Loss on sale of intangible assets |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (11 | )
Net loss before tax |  |  | (143 | ) |  |  | (56 | ) |  |  | (255 | ) |  |  | (201 | )
Benefit for income taxes |  |  | (36 | ) |  |  | (14 | ) |  |  | (63 | ) |  |  | (49 | )
Net loss |  | $ | (107 | ) |  | $ | (42 | ) |  | $ | (192 | ) |  | $ | (152 | )

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