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Note 16 - Dermadoctor Divestiture

9 Months Ended

Sep. 30, 2025

DERMAdoctor [Member]

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE 16. DERMADOCTOR DIVESTITURE

On March 12, 2024, the Company entered into an agreement to sell 100% of the membership units of DERMAdoctor for a closing purchase price of $1.1 million (the “DERMAdoctor Divestiture”). The sale of the membership units closed, and the DERMAdoctor Divestiture occurred, on March 25, 2024. The accounting requirements for reporting the DERMAdoctor business as discontinued operations were met during the first quarter of 2024. Accordingly, the unaudited condensed consolidated financial statements and notes to the unaudited condensed consolidated financial statements reflect the results of the DERMAdoctor business as a discontinued operation for the years presented.

In accordance with the provisions of ASC 205-20, Presentation of Financial Statements: Discontinued Operations (“ASC 205-20”), the Company has not included in the results of continuing operations the results of operations of the discontinued operations in the condensed consolidated statements of operations. The results of DERMAdoctor’s operations for the three and nine months ended September 30, 2025 and 2024 have been reflected as discontinued operations in the condensed consolidated statements of operations and consist of the following (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024

Net sales		$	—			$	—			$	—			$	717
Cost of goods sold			—				—				—				493
Gross profit			—				—				—				224
Operating expenses:
Research and development			—				—				—				2
Sales and marketing			—				—				—				292
General and administrative			—				—				—				48
Total operating expenses			—				—				—				342
Operating loss			—				—				—				(118	)

Loss on divestiture			—				—				—				(871	)

Net loss from discontinued operations		$	—			$	—			$	—			$	(989	)

In accordance with the provisions of ASC 205-20, the Company has not included in the results of continuing operations the results of operations of the discontinued operations in the condensed consolidated statements of cash flows. The results of DERMAdoctor for the nine months ended September 30, 2025 and 2024 have been reflected as discontinued operations in the condensed consolidated statements of cash flows and consist of the following (in thousands):

		Nine Months Ended September 30,
		2025				2024

Operating activities:
Net loss from discontinued operations		$	—			$	(989	)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash loss on divestiture			—				865
Changes in operating assets and liabilities:
Accounts receivable			—				(262	)
Inventory			—				183
Prepaid expenses and other current assets			—				(4	)
Other assets							15
Accounts payable and accrued liabilities			—				63
Operating lease liabilities			—				(31	)
Net cash used in operating activities, discontinued operations			—				(160	)

Investing activities:
Proceeds from divestiture			—				1,070
Cash transferred to New Age Investments, LLC			—				(46	)
Net cash provided by investing activities, discontinued operations			—				1,024

Net increase in cash and cash equivalents, discontinued operations		$	—			$	864