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Business Combination (Tables) | 9 Months Ended
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Dec. 31, 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 |  | $ | - |
Accounts receivable |  |  | 117 |
Materials and supplies |  |  | 538 |
Operating lease right-of-use |  |  | 3,063 |
Prepaid expenses and other assets |  |  | 266 |
Property, plant, and equipment |  |  | 20,110 |
Intangible assets |  |  | 11,130 |
Goodwill |  |  | 10,434 |
Total assets acquired |  |  | 45,658 |
Accounts payable |  |  | 1,252 |
Accrued expenses and other liabilities |  |  | 111 |
Lease liabilities |  |  | 3,063 |
Deferred income taxes |  |  | 4,668 |
Deferred revenue |  |  | 556 |
Total liabilities assumed |  |  | 9,650 |
Total fair value of net assets acquired |  |  | 36,008 |
Less: redeemable noncontrolling interest |  |  | (17,644 | )
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 December 31, 2024 |  |  | For the Nine Months Ended December 31, 2024 |
|  | (In thousands) |
Total revenue |  | $ | 2,968 |  |  | $ | 6,415 |
Income (loss) from continuing operations |  | $ | 261 |  |  | $ | (5 | )
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 December 31, |  |  | For the Nine Months Ended December 31, |
|  | 2024 (Actual) |  |  | 2023 (Pro Forma) |  |  | 2024 (Pro Forma) |  |  | 2023 (Pro Forma) |
Revenue |  | $ | 2,968 |  |  | $ | 2,780 |  |  | $ | 8,825 |  |  | $ | 8,275 |
Net loss from continuing operations attributable to common shareholders before dividends |  |  | (403 | ) |  |  | (1,487 | ) |  |  | (11,279 | ) |  |  | (3,969 | )
Redeemable noncontrolling interest redemption value in excess of carrying value deemed dividend |  |  | (154 | ) |  |  | - |  |  |  | (154 | ) |  |  | - |
Net loss from continuing operations attributable to common shareholders |  |  | (557 | ) |  |  | (1,487 | ) |  |  | (11,433 | ) |  |  | (3,969 | )
Net income (loss) from discontinued operations attributable to common shareholders |  |  | 279 |  |  |  | (9,962 | ) |  |  | 3,139 |  |  |  | (15,745 | )
Net loss attributable to common shareholders |  |  | (278 | ) |  |  | (11,449 | ) |  |  | (8,294 | ) |  |  | (19,714 | )
Per share amounts: |  |  |  |  |  |  |  |  |  |  |  |
Basic (loss) earnings per share from continuing operations attributable to common shareholders |  |  | (0.08 | ) |  |  | (0.20 | ) |  |  | (1.71 | ) |  |  | (0.54 | )
Diluted (loss) earnings per share from continuing operations attributable to common shareholders |  |  | (0.08 | ) |  |  | (0.20 | ) |  |  | (1.71 | ) |  |  | (0.54 | )
Basic earnings (loss) per share from discontinued operations attributable to common shareholders |  |  | 0.04 |  |  |  | (1.37 | ) |  |  | 0.47 |  |  |  | (2.16 | )
Diluted earnings (loss) per share from discontinued operations attributable to common shareholders |  |  | 0.04 |  |  |  | (1.37 | ) |  |  | 0.47 |  |  |  | (2.16 | )
Basic (loss) earnings per share attributable to common shareholders |  |  | (0.04 | ) |  |  | (1.57 | ) |  |  | (1.24 | ) |  |  | (2.70 | )
Diluted (loss) income per share attributable to common shareholders |  |  | (0.04 | ) |  |  | (1.57 | ) |  |  | (1.24 | ) |  |  | (2.70 | )
Schedule of noncash investing and financing activities | The following table represents the supplemental schedule of noncash investing and financing activities:
|  | (In thousands) |
|  | For the Nine Months Ended December 31, |
|  | 2024 |  |  | 2023 |
Supplemental schedule of noncash investing and financing activities |  |  |  |  |  |
Fair value of Amplex assets acquired |  | $ | 45,658 |  |  | $ | - |
Less: redeemable noncontrolling interest |  |  | (17,644 | ) |  |  | - |
Less: cash paid for Amplex common stock |  |  | (18,364 | ) |  |  | - |
Amplex liabilities assumed |  | $ | 9,650 |  |  | $ | - |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the sale of an asset or business through a noncash (or part noncash) transaction. It may include the nature and purpose of the divesture, as well as the asset divested of and the noncash consideration received (that is, debt, stock, and so forth.) Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-3 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-5 + Details
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