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MESOSCRIBE SUBSIDIARY | 9 Months Ended
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Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
MESOSCRIBE SUBSIDIARY | NOTE 11: MESOSCRIBE SUBSIDIARY On August 8, 2023, the Company entered into a Purchase and License Agreement (the “Agreement”) with a third-party. Pursuant to the Agreement, the Company would sell certain proprietary assets relating to its plasma spray technology and material deposition system and grant a non-exclusive license to use certain of the Company’s related intellectual property as more fully described in the Agreement, for an aggregate purchase price of $0.9 million. The purchase price was payable in several installments and contingent upon certain performance metrics and other milestones. The Company received payments under the Agreement in the amount of $0.6 million which had been reflected as “deposit from purchaser” in the accompanying consolidated balance sheet as of December 31, 2023. During the three months ended September 30, 2024, the Company and the purchaser amended the agreement to reduce the purchase price to $0.8 million and the purchaser accepted the equipment. The Company recorded a net gain of sale of equipment of $0.6 million for the three and nine months ended September 30, 2024 representing the purchase price less the net book value of the assets sold. The Company fulfilled its final orders for MesoScribe products during the three months ended September 30, 2024 and recorded revenues of $0.7 million. The Company has ceased operations of MesoScribe as of September 30, 2024. The revenue and net income (loss) of MesoScribe were $0.7 million and $1.1 million, respectively, for the three months ended September 30, 2024 (includes final sales and gain on sale of equipment) and $0.8 million and $1.0 million, respectively, for the nine months ended September 30, 2024. The total assets and total liabilities of the MesoScribe subsidiary were $0.8 million and $0.1 million, respectively, as of September 30, 2024 and $0.2 million and $0.7 million as of December 31, 2023. During the nine months ended September 30, 2023, the Company recorded an impairment charge of $0.1 million for certain equipment of MesoScribe based on its decision to cease the remaining operations in 2024.

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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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