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Note 22 - Wound Care Divestiture and Held-for-sale Assets | 12 Months Ended
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Dec. 31, 2024
Wound Care [Member] |
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 22. WOUND CARE DIVESTITURE AND HELD-FOR-SALE ASSETS On December 30, 2024, the Board approved a plan to divest our Wound Care Trademarks. In accordance with ASC 205, “Presentation of Financial Statements,” we determined that the planned divestiture of the Wound Care Trademarks did not represent a strategic shift that will have a major effect on our consolidated financial results, and therefore their results were not reported as discontinued operations. We applied the criteria in ASC 360-10-45-9, “Property, Plant and Equipment - Long-Lived Assets Classified as Held for Sale,” to determine whether any of the aforementioned long-lived asset groups should be classified as held-for-sale. Criteria include management commitment to sell the disposal group in its present condition and the sale being deemed probable of being completed within one year. We concluded that the business met all the requisite criteria as of December 30, 2024. In accordance with ASC 360-10-45-9, the Company has separately reported held-for-sale assets in the consolidated balance sheets. The assets have been reflected as held-for-sale in the consolidated balance sheets as of December 31, 2024 and 2023, and consist of the following (in thousands):
|  | Balance at December 31, |
|  | 2024 |  |  | 2023 |
ASSETS |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Inventory |  | $ | 48 |  |  | $ | 63 |
Total current assets, held-for-sale |  | $ | 48 |  |  | $ | 63 |
In accordance with ASC 360-10-45-9, the Company has not included results related to the held-for-sale-assets in the results of continuing operation in the consolidated statements of operations. Results related to the held-for-sale assets for the years ended December 31, 2024 and 2023 have been reflected as net income from held-for-sale assets in the consolidated statements of operations and consist of the following (in thousands):
|  | For the years ended December 31, |
|  | 2024 |  |  | 2023 |
Sales: |  |  |  |  |  |  |  |
Product revenue, net |  | $ | 237 |  |  | $ | 680 |
Other revenue, net |  |  | 21 |  |  |  | 39 |
Total sales, net |  |  | 258 |  |  |  | 719 |
Cost of goods sold |  |  | 147 |  |  |  | 315 |
Gross profit |  |  | 111 |  |  |  | 404 |
Net income from held-for-sale assets |  | $ | 111 |  |  | $ | 404 |
In accordance with ASC 360-10-45-9, the Company has not included results related to held-for-sale assets in the results of continuing operations in the consolidated statements of cash flows. Results related to held-for-sale assets for the years ended December 31, 2024 and 2023 have been reflected as a net increase in cash and cash equivalent, held-for-sale assets, in the consolidated statements of cash flows and consist of the following (in thousands):
|  | For the years ended December 31, |
|  | 2024 |  |  | 2023 |
Operating activities: |  |  |  |  |  |  |  |
Net income from held-for-sale assets |  | $ | 111 |  |  | $ | 404 |
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |
Inventory |  |  | 15 |  |  |  | 99 |
Net cash used in operating activities, held-for-sale assets |  |  | 126 |  |  |  | 503 |
Net decrease in cash and cash equivalents, held-for-sale assets |  | $ | 126 |  |  | $ | 503 |

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