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Discontinued Operations | 12 Months Ended
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Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | Note 2. DISCONTINUED OPERATIONS As discussed in Note 1, the Company closed EPC and ECC as of March 31, 2019. Also, as discussed in Note 1, the Company sold WMI in December 2018. As such, these subsidiaries are reported as discontinued operations for the years ended December 31, 2019 and 2018. 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 these subsidiaries 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 only. The following table presents a reconciliation of the major financial lines constituting the results of operations for discontinued operations to the net loss from discontinued operations presented separately in the consolidated statement of operations:
|  | December 31, |
|  | 2019 |  |  | 2018 |
Net revenue |  |  | 132,000 |  |  |  | 15,631,000 |
Cost of goods sold |  |  | 105,000 |  |  |  | 15,406,000 |
Gross profit |  |  | 27,000 |  |  |  | 225,000 |
Operating expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  |  | 155,000 |  |  |  | 1,830,000 |
Impairment of Goodwill |  |  | - |  |  |  | (109,000 | )
Impairment on abandonment of assets |  |  | - |  |  |  | (386,000 | )
Total operating expenses |  |  | (128,000 | ) |  |  | (2,100,000 | )
Interest expense |  |  | (3,000 | ) |  |  | (4,000 | )
Other income (expense), net |  |  | (3,000 | ) |  |  | 7,000 |
Loss from discontinued operations before income taxes |  |  | (134,000 | ) |  |  | (2,097,000 | )
Provision for income taxes |  |  | - |  |  |  | (3,000 | )
Loss from discontinued operations, net of taxes |  |  | (134,000 | ) |  |  | (2,100,000 | )
The following table presents a reconciliation of WMI's net cash flow from operating, investing and financing activities for the periods indicated below:
|  | 2019 |  |  | 2018 |
Net cash used in operating activities - discontinued operations |  | $ | (149,000 | ) |  | $ | (439,000 | )
Net cash used in investing activities - discontinued operations |  | $ | - |  |  | $ | 49,000 |
Net cash provided by financing activities - discontinued operations |  | $ | - |  |  | $ | 475,000 |
Depreciation and amortization |  | $ | (6,000 | ) |  | $ | 156,000 |

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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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