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Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations

Set forth below are the results of the discontinued operations:

 

                 
(Dollars in thousands) 

Three Months Ended

September 30,

  

Nine Months Ended

September 30,

 
   2023   2022   2023   2022 
                 
Product revenue  $-   $-   $-   $1,799 
Cost of sales   -    -    -    728 
Research and development   -    -    -    398 
General and administrative expenses   -    -    -    573 
Other income   -    -    -    - 
(Loss) income from discontinued operations before gain on disposal and income taxes   -    -    -    100 
Pretax gain on sale of MTI Instruments   -    (21)   -    7,581 
Deferred tax benefit   -    -    -    70 
Net income from discontinued operations  $-   $(21)  $-   $7,751 
Schedule of Gain on Sale

The following table presents the gain associated with the Sale that was reported within the 2022 Annual Report.

 

(Dollars in thousands)

   As of April 11, 
   2022 
Consideration received  $10,750 
Plus: closing cash   1 
Less: transaction costs   (908)
Less: closing indebtedness   (483)
Plus: new working capital adjustments   19 
Adjusted consideration received   9,379 
      
Cash   1 
Accounts receivable, net   1,119 
Inventories   888 
Prepaid expense and other current assets   42 
Operating lease right-of-use assets   579 
Deferred tax assets   171 
Property, plant and equipment, net   76 
Total assets   2,876 
      
Accounts payable   122 
Accrued liabilities   547 
Operating lease liability   579 
Total liabilities   1,248 
      
Net assets transferred   1,628 
      
Gain on sale  $7,751