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Discontinued Operations | 12 Months Ended
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Dec. 31, 2024
Discontinued Operations [Abstract] |
Discontinued Operations | Note 16 - Discontinued Operations During the year ended December 31, 2024, the Company made a strategic decision to fully discontinue its Rhove operations, a component that previously operated under the rental business segment. This decision was based on the lack of future revenue potential and the absence of funding to further develop the platform. As a result, the Rhove operations have been classified as a discontinued operation in accordance with ASC 205-20. The following table rolls forward Rhove assets and liabilities from their carrying values prior to classification as discontinued operations to their values after such classification, and presents the impact of reclassifications, impairments, and write-offs:
Rhove Related Assets |  | Carrying Value Prior To Abandonment |  |  | Asset and Liability Transfers Retained by reAlpha |  |  | Asset Impairments and Liability Write-Offs |  |  | Carrying Value as of 12/31/2024 |
Cash |  | $ | 3,456 |  |  | $ | (3,456 | ) |  | $ | - |  |  | $ | - |
Other Current Assets(1) |  |  | 88,036 |  |  |  | (53,474 | ) |  |  | (34,562 | ) |  |  | - |
Intangibles, net |  |  | 740,240 |  |  |  | - |  |  |  | (740,240 | ) |  |  | - |
Goodwill |  |  | 17,337,739 |  |  |  | - |  |  |  | (17,337,739 | ) |  |  | - |
Total assets - Rhove |  | $ | 18,169,471 |  |  | $ | (56,930 | ) |  | $ | (18,112,541 | ) |  | $ | - |
Accounts Payable and Other Accrued Liabilities |  | $ | 24,147 |  |  | $ | - |  |  | $ | (24,147 | ) |  | $ | - |
Other Current Liabilities |  |  | 10,000 |  |  |  | - |  |  |  | (10,000 | ) |  |  | - |
Total Liabilities - Rhove |  | $ | 34,147 |  |  | $ | - |  |  | $ | (34,147 | ) |  | $ | - |
Net Assets and Liabilities - Rhove |  | $ | 18,135,324 |  |  | $ | (56,930 | ) |  | $ | (18,078,394 | ) |  | $ | - |
(1) | This relates to tax refunds from the Internal Revenue Service related to the Rhove acquisition.
The following table provides detail of the discontinued operations as of December 31, 2024 and 2023:
Rhove Related Assets |  | December 31, 2024 (transferred to reAlpha) |  |  | December 31, 2023 |
Current Assets |  |  |  |  |  |
Cash |  | $ | 3,456 |  |  | $ | - |
Other current Assets |  |  | 53,474 |  |  |  | 88,036 |
|  | $ | 56,930 |  |  | $ | 88,036 |
Long term Assets |  |  |  |  |  |  |  |
Intangibles, net |  |  | - |  |  |  | 997,962 |
Goodwill |  |  |  |  |  |  | 17,337,739 |
|  | $ | - |  |  | $ | 18,335,701 |
Current Liabilities |  |  |  |  |  |  |  |
Accounts payable and other accrued liabilities |  |  |  |  |  |  | 30,175 |
Other current liabilities |  |  |  |  |  |  | 17,490 |
Total liabilities - Rhove |  | $ | - |  |  | $ | 47,665 |
The following table represents the statement of operations for discontinued operations as of each reporting period:
|  | For the Year Ended |  |  | For the Eight Months Ended |  |  | For the Year Ended |
|  | December 31, 2024 |  |  | December 31, 2023 |  |  | April 30, 2023 |
Revenues |  | $ | - |  |  | $ | - |  |  | $ | - |
Cost of revenues |  |  | - |  |  |  | - |  |  |  | - |
Gross profit |  |  | - |  |  |  | - |  |  |  | - |
Discontinued operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Depreciation & amortization |  |  | 257,722 |  |  |  | 259,038 |  |  |  | - |
Professional & legal fees |  |  | - |  |  |  | 47,454 |  |  |  | 13,583 |
Other operating expense (income) |  |  | 3,520 |  |  |  | (605 | ) |  |  | 310 |
Total operating expenses |  |  | 261,242 |  |  |  | 305,887 |  |  |  | 13,893 |
Discontinued Operating Loss |  |  | (261,242 | ) |  |  | (305,887 | ) |  |  | (13,893 | )
Discontinued other expense (income) |  |  |  |  |  |  |  |  |  |  |  |
Impairment of intangible assets |  |  | 740,240 |  |  |  | - |  |  |  | - |
Goodwill impairment |  |  | 17,337,739 |  |  |  | - |  |  |  | - |
Other expense (income) |  |  | 414 |  |  |  | (3,758 | ) |  |  | 883 |
Total other (expense) income |  |  | 18,078,393 |  |  |  | (3,758 | ) |  |  | 883 |
Net loss from discontinued operations before income taxes |  |  | (18,339,635 | ) |  |  | (302,129 | ) |  |  | (14,776 | )

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