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Discontinued Operations | 12 Months Ended
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Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | Note 2. DISCONTINUED OPERATIONS As discussed in Note 1, the Company sold WMI Group in December 2018. As such, this business is reported as discontinued operations for the years ended December 31, 2018 and 2017. As required, the Company has retrospectively recast its consolidated statements of operations and balance sheets for all periods presented. The Company has not segregated the cash flows of this business in the consolidated statements of cash flows. Management was also required to make certain assumptions and apply judgment to determine historical expenses related to the discontinued operations presented in prior periods. Unless noted otherwise, discussion in the Notes to Consolidated Financial Statements refers to the Company’s continuing operations. The following table presents a reconciliation of the major financial lines constituting the results of operations for discontinued operations to the net income (loss) from discontinued operations presented separately in the consolidated statement of operations:
|  | December 31, |
|  | 2018 |  |  | 2017 |
Net revenue |  | $ | 13,852,000 |  |  | $ | 13,129,000 |
Cost of goods sold |  |  | 13,596,000 |  |  |  | 11,245,000 |
Gross profit |  |  | 256,000 |  |  |  | 1,884,000 |
Operating expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  |  | 1,306,000 |  |  |  | 2,488,000 |
Loss on assets held for sale |  |  | - |  |  |  | 2,648,000 |
Impairment of Goodwill |  |  | - |  |  |  | 3,417,000 |
Total operating expenses |  |  | 1,306,000 |  |  |  | 8,553,000 |
Interest income (expense) |  |  | 1,000 |  |  |  | (12,000 | )
Other income |  |  | 7,000 |  |  |  | 3,000 |
Loss from discontinued operations before income taxes |  |  | (1,042,000 | ) |  |  | (6,678,000 | )
Provision for income taxes |  |  | - |  |  |  | - |
Net loss from discontinued operations |  | $ | (1,042,000 | ) |  | $ | (6,678,000 | )
The following table presents a reconciliation of WMI Group net cash flow from operating, investing and financing activities for the periods indicated below:
|  | 2018 |  |  | 2017 |
Net cash used in operating activities - discontinued operations |  | $ | ( 439,000 | ) |  | $ | (2,765,000 | )
Net cash used in investing activities - discontinued operations |  | $ | 49,000 |  |  | $ | (33,000 | )
Net cash provided by financing activities - discontinued operations |  | $ | 475,000 |  |  | $ | 2,665,000 |
Depreciation and amortization |  | $ | 156,000 |  |  | $ | 375,000 |
Capital expenditures |  | $ | - |  |  | $ | (33,000 | )
See Note 8 for a reconciliation of the carrying amounts of major classes of assets and liabilities of the discontinued operations to the total assets and liabilities of the disposal group classified as held for sale that are presented separately in the consolidated balance sheets.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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