| 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, | | | 2024 | | 2023 | Revenues | | $ | — | | $ | 391 | Cost of goods sold | | | — | | | 52 | Gross profit | | | — | | | 339 | Operating expenses: | | | | | | | Research and development | | | — | | | 6,344 | General and administrative | | | 1,207 | | | 6,751 | Fixed asset impairments | | | 3,100 | | | 17,900 | Loss (gain) on sale of fixed assets | | | 4,816 | | | (773) | Inventory reserve | | | — | | | 4,915 | Total operating expenses | | | 9,123 | | | 35,137 | | | | | | | | Other income (expenses): | | | | | | | Interest expense - term note payable | | | (1,149) | | | (900) | Gain on extinguishment of debt | | | 808 | | | — | Other | | | — | | | (1) | Total other expenses | | | (341) | | | (901) | | | | | | | | Loss from discontinued operations | | $ | (9,464) | | $ | (35,699) |
The following table presents net carrying values related to the major classes of assets that were classified as held for sale at June 30, 2024 and 2023 (in thousands): | | | | | | | | | June 30, | | June 30, | | | 2024 | | 2023 | Current assets: | | | | | | | Operating lease right-of-use assets | | $ | - | | $ | 1,941 | Property and equipment, net | | | - | | | 16,124 | Total current assets | | $ | - | | $ | 18,065 | | | | | | | | Current liabilities: | | | | | | | Operating lease obligation | | $ | - | | $ | 1,941 | Total current liabilities | | $ | - | | $ | 1,941 |
The following table presents the supplemental disclosures related to discontinued operations for the cash flows (in thousands): | | | | | | | | | Years Ended June 30, | | | 2024 | | 2023 | Depreciation expense | | $ | — | | $ | 273 | Amortization of finance lease right-of-use assets | | | — | | | 20 | Purchase of fixed assets | | | — | | | 1,542 | Fixed asset impairments | | | 3,100 | | | 17,900 | Loss on sale of fixed assets | | | 4,817 | | | — | Gain on extinguishment of debt | | | (808) | | | — | Payments of term note payable | | | (1,513) | | | — | Inventory reserve | | | — | | | 4,915 | Sales proceeds of fixed assets | | | 50 | | | 2,600 | Payment of finance lease obligation | | | — | | | 17 | Investing non-cash transactions: | | | | | | | Fixed assets included in accounts payable in prior period, paid in current period | | | — | | | 1,542 | | | | | | | | Supplemental cash flow information: | | | | | | | Cash paid during the period for interest | | | 577 | | | 603 |
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