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Asset Sale (Tables)

6 Months Ended

Jun. 30, 2023

Asset Sale

Summary of balance sheet adjustments

		Historical				Discontinued Operations Adjustments				Pro Forma Continued Operations
ASSETS
Current Assets:
Cash and cash equivalents		$	11,419,000			$	-			$	11,419,000
Restricted cash			85,000				-				85,000
Accounts receivable, net			7,583,000				-				7,583,000
Inventories			28,000				(28,000	)			-
Income tax receivable			90,000				-				90,000
Prepaid production costs			143,000				(143,000	)			-
Other prepaid expense			208,000				(19,000	)			189,000
Current assets held for sale			-				190,000				190,000
Total Current Assets			19,556,000				-				19,556,000

Other Assets:
Property and equipment, net			71,000				(71,000	)			-
Operating lease right-of-use assets			123,000				(123,000	)			-
Other, net			10,000				-				10,000
Non-current assets held for sale			-				194,000				194,000

Total Assets		$	19,760,000			$	-			$	19,760,000

LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable			1,324,000				(72,000	)			1,252,000
Accrued liabilities			2,031,000				-				2,031,000
Current portion of operating lease liabilities			16,000				(16,000	)			-
Deferred revenue			1,154,000				(1,154,000	)			-
Current liabilities held for sale			-				1,242,000				1,242,000
Total Current Liabilities			4,525,000				-				4,525,000

Long-Term Liabilities:
Accrued income taxes			55,000				-				55,000
Operating lease liabilities			123,000				(123,000	)			-
Non-current liabilities held for sale			-				123,000				123,000
Total Long-Term Liabilities			178,000				-				178,000

Commitments and Contingencies			-				-				-

Shareholders' Equity:
Total Shareholders' Equity			15,057,000				-				15,057,000

Total Liabilities and Shareholders' Equity		$	19,760,000			$	-			$	19,760,000

Summary of operations adjustments

		Historical				Discontinued Operations Adjustments				Pro Forma Continuing Operations
Net services revenues		$	6,211,000			$	(6,211,000	)		$	-

Cost of services			4,588,000				(4,588,000	)			-
Gross Profit			1,623,000				(1,623,000	)			-

Operating Expenses:
Selling			361,000				(361,000	)			-
Marketing			300,000				(300,000	)			-
General and administrative			1,129,000				(572,000	)			557,000
Total Operating Expenses			1,790,000				(1,233,000	)			557,000
Operating Income (Loss)			(167,000	)			(390,000	)			(557,000	)

Interest income			135,000				-				135,000
Income (Loss) from Operations Before Taxes			(32,000	)			(390,000	)			(422,000	)

Income tax expense			4,000				-				4,000

Net Income (Loss) from Continuing Operations										$	(426,000	)

Net (Income) Loss from Discontinued Operations						$	(390,000	)

Net Income (Loss)		$	(36,000	)

Net income (loss) per share, basic and diluted:
Continuing operations										$	(0.24	)
Discontinued operations						$	0.22
Total		$	(0.02	)

Weighted average shares outstanding:
Basic and diluted			1,798,000				1,798,000				1,798,000