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Commitments and Contingencies (Tables) | 3 Months Ended
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Dec. 31, 2020
Schedule of Balance Sheet Detail Information |
|  | December 31, 2020 |  |  | September 30, 2020 |
Trade receivables, current, net: |  |  |  |  |  |  |  |
Accounts receivable, current |  | $ | 17,626 |  |  | $ | 20,197 |
Less: Reserve for doubtful accounts |  |  | (62 | ) |  |  | (76 | )
|  | $ | 17,564 |  |  | $ | 20,121 |
Trade receivables , long term, net: |  |  |  |  |  |  |  |
Accounts receivable, long term |  | $ | — |  |  | $ | 196 |
Less: Reserve for doubtful accounts |  |  | — |  |  |  | (196 | )
|  | $ | — |  |  | $ | — |
Total trade receivables, net: |  |  |  |  |  |  |  |
Gross trade receivables |  | $ | 17,626 |  |  | $ | 20,393 |
Less: Reserve for doubtful accounts |  |  | (62 | ) |  |  | (272 | )
|  | $ | 17,564 |  |  | $ | 20,121 |
Inventory, net |  |  |  |  |  |  |  |
Raw materials |  | $ | 12,930 |  |  | $ | 13,175 |
Work in progress |  |  | 11,031 |  |  |  | 11,747 |
Finished goods |  |  | 26,474 |  |  |  | 25,009 |
Merchandise |  |  | 16,891 |  |  |  | 17,729 |
|  |  | 67,326 |  |  |  | 67,660 |
Less: Inventory reserves |  |  | (2,587 | ) |  |  | (3,135 | )
|  | $ | 64,739 |  |  | $ | 64,525 |
Property and equipment, net: |  |  |  |  |  |  |  |
Building and improvements |  | $ | 11,405 |  |  | $ | 9,908 |
Transportation equipment |  |  | 122 |  |  |  | 480 |
Machinery and equipment |  |  | 29,719 |  |  |  | 27,217 |
Furnishings, fixtures, office equipment and other |  |  | 6,749 |  |  |  | 6,353 |
|  |  | 47,994 |  |  |  | 43,958 |
Less: Accumulated depreciation |  |  | (16,868 | ) |  |  | (13,582 | )
|  | $ | 31,127 |  |  | $ | 30,376 |
Intangible assets, net: |  |  |  |  |  |  |  |
Domain name and marketing related intangibles |  | $ | 90 |  |  | $ | 90 |
Customer relationship intangibles |  |  | 2,689 |  |  |  | 2,689 |
Purchased software |  |  | 121 |  |  |  | 121 |
|  |  | 2,900 |  |  |  | 2,900 |
Less: Accumulated amortization |  |  | (1,944 | ) |  |  | (1,837 | )
|  | $ | 956 |  |  | $ | 1,063 |
Accrued liabilities: |  |  |  |  |  |  |  |
Accrued payroll |  | $ | 2,691 |  |  | $ | 4,178 |
Accrued sales and use taxes |  |  | 1,574 |  |  |  | 1,251 |
Accrued property and other tax |  |  | 208 |  |  |  | 270 |
Accrued gift card and escheatment liability |  |  | 1,683 |  |  |  | 1,534 |
Accrued interest payable |  |  | 393 |  |  |  | 280 |
Accrued bank fees and overdrafts |  |  | 514 |  |  |  | 2,631 |
Accrued professional fees |  |  | 5,102 |  |  |  | 3,378 |
Customer deposits |  |  | 35 |  |  |  | 169 |
Accrued expenses - other |  |  | 695 |  |  |  | 1,131 |
|  | $ | 12,896 |  |  | $ | 14,822 |
Summary of Warranty Reserve Activity | The following table summarizes the warranty reserve activity for the three months ended December 31, 2020:
Beginning balance, September 30, 2020 |  | $ | 206 |
Warranties issued/accrued |  |  | — |
Warranty settlements |  |  | (31 | )
Ending balance, December 31, 2020 |  | $ | 175 |
ApplianceSmart Inc |
Schedule of Balance Sheet Detail Information | ApplianceSmart’s balance sheet as of December 31, 2020 is below. The debtor in possession assets and liabilities are primarily related to assets and liabilities incurred pre-petition and are subject to compromise.
|  | December 31, 2020 |
|  | (Unaudited) |
Assets |  |  |  |
Cash |  | $ | 42 |
Inventories, net |  |  | 284 |
Total debtor in possession assets |  |  | 326 |
Right of use asset - operating leases |  |  | 691 |
Total assets |  | $ | 1,017 |
Liabilities and Stockholders' Equity |  |  |  |
Liabilities: |  |  |  |
Accounts payable |  | $ | 5,935 |
Accrued liabilities |  |  | 3,128 |
Notes payable related parties, including current portion |  |  | 2,826 |
Total debtor in possession liabilities |  |  | 11,889 |
Accounts payable |  | 42 |
Accrued liabilities |  |  | 818 |
Lease obligation long term - operating leases |  |  | 699 |
Crossroads Financial Revolver Loan |  |  | 828 |
Taxes payable |  |  | 886 |
Other non-current obligations |  |  |  |
Total liabilities |  |  | 15,162 |
Stockholders' equity: |  |  |  |
Intercompany |  |  | 1,350 |
Accumulated deficit |  |  | (15,495 | )
Total stockholders' equity |  |  | (14,145 | )
Total liabilities and stockholders' equity |  | $ | 1,017 |
Summary of Statement of Operations | ApplianceSmart’s statement of operations for the period of October 1, 2020 through December 31, 2020 is below:
|  | Three Months Ended December 31, 2020 |
Revenues |  | $ | 296 |
Cost of revenues |  |  | 165 |
Gross profit |  |  | 131 |
Operating expenses: |  |  |  |
General and administrative expenses |  |  | 208 |
Total operating expenses |  |  | 208 |
Operating income |  |  | (77 | )
Other (expense) income: |  |  |  |
Interest expense, net |  |  | (46 | )
Accounts payable settlement |  |  | 44 |
Other income (expense) |  |  | 279 |
Total other (expense) income, net |  |  | 277 |
Income before provision for income taxes |  |  | 200 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249 + Details
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