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Note 4 - Discontinued Operations | 9 Months Ended
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Oct. 31, 2023
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 4. Discontinued Operations On August 21, 2023, the Company sold Klein pursuant to the SPA with the Buyer. As a result, the assets and liabilities of Klein have been reclassified as assets, excluding cash, and liabilities of discontinued operations at January 31, 2023 and it’s results of operations are reported as discontinued operations for the three and nine-month periods ended October 31, 2023 and 2022. On July 27, 2020, the Board determined to exit the Leasing Business. As a result, the assets, excluding cash, and liabilities of the Leasing Business were considered held for sale and reported as discontinued operations at January 31, 2023, and its results of operations were reported as discontinued operations for the three and nine month periods ended October 31, 2022. As of February 1, 2023, discontinued operations of the Leasing Business were considered materially completed. The assets and liabilities reported as part of discontinued operations consist of the following:
|  | January 31, 2023 |
Current assets of discontinued operations: |  |  |  |
Accounts receivable, net |  | $ | 746 |
Inventories, net |  |  | 4,292 |
Prepaid expenses and other current assets |  |  | 745 |
Total current assets of discontinued operations |  | $ | 5,783 |
Property and equipment, net |  |  | 2,992 |
Intangible assets, net |  |  | 1,297 |
Total assets of discontinued operations |  | $ | 10,072 |
Current liabilities of discontinued operations: |  |  |  |
Accounts payable |  | $ | 1,607 |
Accrued and other liabilities |  |  | 813 |
Total liabilities of discontinued operations |  | $ | 2,420 |
The results of operations from discontinued operations for the three and nine months ended October 31, 2023 and 2022 consist of the following:
|  | For the Three Months Ended October 31, |  |  | For the Nine Months Ended October 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenues: |  | (in thousands) |
Revenue from discontinued operations |  | $ | 140 |  |  | $ | 1,847 |  |  | $ | 3,318 |  |  | $ | 6,543 |
Cost of sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of discontinued operations |  |  | 11 |  |  |  | 1,230 |  |  |  | 1,982 |  |  |  | 3,981 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative |  |  | 179 |  |  |  | 680 |  |  |  | 1,348 |  |  |  | 2,109 |
Research and development |  |  | 45 |  |  |  | 431 |  |  |  | 689 |  |  |  | 1,628 |
Depreciation and amortization |  |  | 18 |  |  |  | 136 |  |  |  | 324 |  |  |  | 402 |
Total operating expenses |  |  | 242 |  |  |  | 1,247 |  |  |  | 2,361 |  |  |  | 4,139 |
Operating loss |  |  | (113 | ) |  |  | (630 | ) |  |  | (1,025 | ) |  |  | (1,577 | )
Other income (expense) (Including $1,626 of currency translation loss for the three and nine months ended October 31, 2022.) |  |  | 2 |  |  |  | (1,646 | ) |  |  | 73 |  |  |  | (1,106 | )
Gain on sale of Klein |  |  | 2,393 |  |  |  | — |  |  |  | 2,393 |  |  |  | — |
Income (loss) before income taxes from discontinued operations |  |  | 2,282 |  |  |  | (2,276 | ) |  |  | 1,441 |  |  |  | (2,683 | )
Provision for income taxes from discontinued operations |  |  | (5 | ) |  |  | — |  |  |  | (17 | ) |  |  | — |
Net income (loss) from discontinued operations |  |  | 2,277 |  |  |  | (2,276 | ) |  |  | 1,424 |  |  |  | (2,683 | )
The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below:
|  | For the Nine Months Ended October 31, |
|  | 2023 |  |  | 2022 |
|  | (in thousands) |
Gross profit from sale of assets held-for-sale |  | $ | — |  |  | $ | (382 | )
Gain on sale of Klein |  | $ | (2,393 | ) |  | $ | — |
Non-Cash cumulative translation adjustment for discontinued operations |  | $ | — |  |  | $ | 1,626 |
Sale of assets held for sale |  | $ | — |  |  | $ | 383 |

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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 -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
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