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DISCONTINUED OPERATIONS | 9 Months Ended
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Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | DISCONTINUED OPERATIONS: On June 30, 2022, the Company sold its Opensalon® Pro (OSP) solution to Soham Inc. The Company received $13.0 million in proceeds in June 2022 and in the nine months ended March 31, 2023, received an additional $5.0 million in proceeds, of which $0.5 million were received in the third quarter, offset by a $0.5 million transaction fee. As a result of the sale, the Company classified the OSP business as discontinued operations in the financial statements for all periods presented. No income taxes have been allocated to discontinued operations based on the methodology required by accounting for income taxes guidance. The following summarizes the results of discontinued operations for the periods presented:
|  | Three Months Ended March 31, |  | Nine Months Ended March 31,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
|  | (Dollars in thousands)
Discontinued operations: |  |  |  |  |  |  |  |
OSP fees |  | $ | — |  |  | $ | 940 |  |  | $ | (226) |  |  | $ | 2,863 |
Cost of product sales to franchisees |  | — |  |  | (145) |  |  | — |  |  | (910) |
General and administrative |  | — |  |  | (726) |  |  | (27) |  |  | (2,633) |
Rent |  | — |  |  | (46) |  |  | (341) |  |  | (148) |
Depreciation and amortization |  | — |  |  | (375) |  |  | — |  |  | (1,080) |
Goodwill impairment |  | — |  |  | (2,880) |  |  | — |  |  | (2,880) |
Interest expense |  | — |  |  | (179) |  |  | — |  |  | (537) |
Gain from sale of OSP |  | 518 |  |  | — |  |  | 4,552 |  |  | — |
Income (loss) from OSP discontinued operations, net |  | $ | 518 |  |  | $ | (3,411) |  |  | $ | 3,958 |  |  | $ | (5,325) |

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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 https://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 https://asc.fasb.org/subtopic&trid=2122178 + Details
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