| Schedule of discontinued operations |
The following table presents a reconciliation of the major financial lines constituting the results of operations for discontinued operations to the loss from discontinued operations presented separately in the consolidated statements of operations (in thousands): | | | | | | | | | Years Ended June 30, | | | 2023 | | 2022 | Revenues | | $ | 391 | | $ | 499 | Cost of goods sold | | | 52 | | | 216 | Gross profit | | | 339 | | | 283 | Operating expenses: | | | | | | | Research and development | | | 6,344 | | | 7,902 | General and administrative | | | 6,751 | | | 12,373 | Fixed asset impairments | | | 17,900 | | | — | Gain on sale of fixed assets | | | (773) | | | — | Inventory reserve | | | 4,915 | | | — | Total operating expenses | | | 35,137 | | | 20,275 | | | | | | | | Other income (expenses): | | | | | | | Interest expense - term note payable | | | (900) | | | (602) | Interest expense - related party | | | — | | | (810) | Forgiveness of note payable and accrued interest - SBA loan | | | — | | | 607 | Other | | | (1) | | | 6 | Total other expenses | | | (901) | | | (799) | | | | | | | | Loss from discontinued operations | | $ | (35,699) | | $ | (20,791) |
The following table presents net carrying values related to the major classes of assets that were classified as held for sale at June 30, 2023 and 2022 (in thousands): | | | | | | | | | June 30, | | June 30, | | | 2023 | | 2022 | Current assets: | | | | | | | Inventory | | $ | — | | $ | 3,900 | Operating lease right-of-use assets | | | 1,941 | | | — | Property and equipment, net | | | 16,124 | | | — | Total current assets | | $ | 18,065 | | $ | 3,900 | | | | | | | | Other assets: | | | | | | | Property and equipment, net | | $ | — | | $ | 35,289 | Finance lease right-of-use assets | | | — | | | 74 | Operating lease right-of-use assets | | | — | | | 1,951 | Total other assets | | $ | — | | $ | 37,314 | | | | | | | | Current liabilities: | | | | | | | Finance lease obligation | | $ | — | | $ | 46 | Operating lease obligation | | | 1,941 | | | 10 | Total current liabilities | | $ | 1,941 | | $ | 56 | | | | | | | | Long-term liabilities: | | | | | | | Finance lease obligation | | $ | — | | $ | 30 | Operating lease obligation | | | — | | | 1,941 | Total long-term liabilities | | $ | — | | $ | 1,971 |
The following table presents the supplemental disclosures related to discontinued operations for the cash flows (in thousands): | | | | | | | | | Years Ended June 30, | | | 2023 | | 2022 | Depreciation expense | | $ | 273 | | $ | 2,275 | Amortization of finance lease right-of-use assets | | | 20 | | | 599 | Purchase of fixed assets | | | 1,542 | | | 5,809 | Fixed asset impairments | | | 17,900 | | | — | Inventory reserve | | | 4,915 | | | — | Sales proceeds of fixed assets | | | 2,600 | | | — | Investing non-cash transactions: | | | | | | | Increase in ROU operating assets and liabilities for new leases | | | — | | | 1,952 | Fixed assets included in accounts payable in prior period, paid in current period | | | 1,542 | | | 791 | Unpaid fixed assets included in accounts payable | | | — | | | 1,542 | Termination of finance ROU assets including issuance of warrant | | | — | | | 25,386 | Note payable to acquire Facility | | | — | | | 22,375 | Issuance of warrant for final lease obligation payment | | | — | | | 217 | | | | | | | | Supplemental cash flow information: | | | | | | | Cash paid during the period for interest | | | 603 | | | 1,045 |
|