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DECONSOLIDATION OF SUBSIDIARIES AND GRESHAM WORLDWIDE, INC. (“GIGA”) DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2025

Deconsolidation Of Subsidiaries And Gresham Worldwide Inc. Giga Discontinued Operations

Schedule of statement of cash flows

Schedule of operations
		For the Three Months Ended September 30, 2024				For the Nine Months Ended September 30, 2024
Revenue, products		$	10,678,000			$	30,862,000
Cost of revenue, products			7,824,000				23,339,000
Gross profit			2,854,000				7,523,000
Operating expenses
Research and development			906,000				2,617,000
Selling and marketing			286,000				1,166,000
General and administrative			2,923,000				8,033,000
Total operating expenses			4,115,000				11,816,000
Loss from operations			(1,261,000	)			(4,293,000	)
Other income (expense):
Interest and other income			1,554,000				1,594,000
Interest expense			(415,000	)			(1,662,000	)
Total other expense, net			1,139,000				(68,000	)
Loss before income taxes			(122,000	)			(4,361,000	)
Income tax benefit			-				(15,000	)
Net loss			(122,000	)			(4,346,000	)
Net loss attributable to non-controlling interest			325,000				1,554,000
Net income (loss) available to common stockholders		$	203,000			$	(2,792,000	)

The cash flow activity related to discontinued operations is presented separately on the statement of cash flows as summarized below:

Schedule of statement of cash flows
		For the Nine Months Ended September 30, 2024
Cash flows from operating activities:
Net loss		$	(4,346,000	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization			618,000
Amortization of right-of-use assets			684,000
Amortization of intangibles			157,000
Gain on extinguishment of debt			(858,000	)
Changes in operating assets and liabilities:
Accounts receivable			(1,638,000	)
Inventories			1,514,000
Prepaid expenses and other current assets			(1,516,000	)
Lease liabilities			(667,000	)
Accounts payable and accrued expenses			(314,000	)
Net cash used in operating activities			(6,366,000	)
Cash flows from investing activities:
Purchase of property and equipment			(249,000	)
Cash decrease upon deconsolidation			(3,550,000	)
Net cash used in investing activities			(3,799,000	)
Cash flows from financing activities:
Proceeds from notes payable			2,552,000
Net cash provided by financing activities			2,552,000
Cash contributions from parent			3,383,000
Effect of exchange rate changes on cash and cash equivalents			(71,000	)
Net decrease in cash and cash equivalents and restricted cash			(4,301,000	)
Cash and cash equivalents and restricted cash at beginning of period			4,301,000
Cash and cash equivalents and restricted cash at end of period		$	-
Supplemental disclosures of cash flow information:
Cash paid during the period for interest		$	946,000

Schedule of statement of cash flows

Schedule of statement of cash flows
		For the Nine Months Ended September 30, 2024
Cash flows from operating activities:
Net loss		$	(4,346,000	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization			618,000
Amortization of right-of-use assets			684,000
Amortization of intangibles			157,000
Gain on extinguishment of debt			(858,000	)
Changes in operating assets and liabilities:
Accounts receivable			(1,638,000	)
Inventories			1,514,000
Prepaid expenses and other current assets			(1,516,000	)
Lease liabilities			(667,000	)
Accounts payable and accrued expenses			(314,000	)
Net cash used in operating activities			(6,366,000	)
Cash flows from investing activities:
Purchase of property and equipment			(249,000	)
Cash decrease upon deconsolidation			(3,550,000	)
Net cash used in investing activities			(3,799,000	)
Cash flows from financing activities:
Proceeds from notes payable			2,552,000
Net cash provided by financing activities			2,552,000
Cash contributions from parent			3,383,000
Effect of exchange rate changes on cash and cash equivalents			(71,000	)
Net decrease in cash and cash equivalents and restricted cash			(4,301,000	)
Cash and cash equivalents and restricted cash at beginning of period			4,301,000
Cash and cash equivalents and restricted cash at end of period		$	-
Supplemental disclosures of cash flow information:
Cash paid during the period for interest		$	946,000

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- References

No definition available.

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Tabular disclosure of the aggregate change in the standardized measure of discounted future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchases under long-term agreements in which the enterprise participates in the operation of the properties on which oil and gas is located or otherwise serves as the producer.

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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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