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Business Combination (Tables)
 6 Months Ended
Sep. 30, 2024
Business Combinations [Abstract]  
Schedule of assets acquired and liabilities assumed

The Company's preliminary allocation of the purchase price to the assets acquired, liabilities assumed, and noncontrolling interest recognized and redeemable as of the Closing Date were as follows:

(In thousands)

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

32

 

Accounts receivable

 

 

124

 

Materials and supplies

 

 

538

 

Operating lease right-of-use

 

 

502

 

Prepaid expenses and other assets

 

 

266

 

Property, plant, and equipment

 

 

23,750

 

Intangible assets

 

 

11,130

 

Goodwill

 

 

10,434

 

Total assets acquired

 

 

46,776

 

 

 

 

 

Accounts payable

 

 

1,260

 

Accrued expenses and other liabilities

 

 

231

 

Lease liabilities

 

 

502

 

Deferred income taxes

 

 

4,668

 

Deferred revenue

 

 

556

 

Total liabilities assumed

 

 

7,217

 

 

 

 

 

Total fair value of net assets acquired

 

 

39,559

 

Less: redeemable noncontrolling interest

 

 

(17,644

)

Less: noncontrolling interest

 

 

(3,551

)

Total purchase price

 

$

18,364

 
Schedule of net impact of the Acquisition on the Company's condensed consolidated statements of operations

The following is the net impact of the Amplex Acquisition on the Company's condensed consolidated statements of operations since the Closing Date:

 

 

For the Three Months Ended September 30, 2024

 

 

For the Six Months Ended September 30, 2024

 

 

 

(In thousands)

 

Total revenue

 

$

2,958

 

 

$

3,447

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

410

 

 

$

(190

)
Schedule of business acquisition, pro forma information

The following table represents the supplemental consolidated financial results of the Company on an unaudited pro forma basis, as if the acquisition had been consummated on April 1, 2023.

 

 

(In thousands)

 

 

 

For the Three Months Ended September 30,

 

 

For the Six Months Ended September 30,

 

 

 

2024 (Actual)

 

 

2023 (Pro Forma)

 

 

2024 (Pro Forma)

 

 

2023 (Pro Forma)

 

Revenue

 

$

2,958

 

 

$

2,841

 

 

$

5,858

 

 

$

5,495

 

Net (loss) income from continuing operations

 

 

(975

)

 

 

(1,303

)

 

 

(10,453

)

 

 

(2,574

)

Net income (loss) from discontinued operations

 

 

801

 

 

 

(8,827

)

 

 

2,860

 

 

 

(5,783

)

Net (loss) income

 

 

(174

)

 

 

(10,130

)

 

 

(7,593

)

 

 

(8,357

)

Per share amounts:

 

 

 

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per share from continuing operations

 

 

(0.15

)

 

 

(0.18

)

 

 

(1.56

)

 

 

(0.35

)

Diluted (loss) earnings per share from continuing operations

 

 

(0.15

)

 

 

(0.18

)

 

 

(1.56

)

 

 

(0.35

)

Basic earnings (loss) per share from discontinued operations

 

0.12

 

 

(1.21

)

 

0.43

 

 

 

(0.79

)

Diluted earnings (loss) per share from discontinued operations

 

 

0.12

 

 

 

(1.21

)

 

 

0.43

 

 

 

(0.79

)

Basic (loss) earnings per share

 

 

(0.03

)

 

 

(1.39

)

 

 

(1.13

)

 

 

(1.15

)

Diluted (loss) income per share

 

 

(0.03

)

 

 

(1.39

)

 

 

(1.13

)

 

 

(1.15

)
Schedule of noncash investing and financing activities

The following table represents the supplemental schedule of noncash investing and financing activities:

 

 

(In thousands)

 

 

 

For the Six Months Ended September 30,

 

 

 

2024

 

 

2023

 

Supplemental schedule of noncash investing and financing activities

 

 

 

 

 

 

Fair value of Amplex assets acquired

 

$

46,776

 

 

$

-

 

Less: redeemable noncontrolling interest

 

 

(17,644

)

 

 

-

 

Less: noncontrolling interest

 

 

(3,551

)

 

 

-

 

Less: cash paid for Amplex common stock

 

 

(18,364

)

 

 

-

 

Amplex liabilities assumed

$

7,217

 

 

$

-