XML 32 R18.htm IDEA: XBRL DOCUMENT v3.22.2.2
DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations of the MST Franchise
The following table presents the combined results of discontinued operations of the MST Franchise:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2022202120222021
Product sales$— $3,953 $106 $11,805 
Cost of goods sold— 1,049 80 2,445 
Operating expenses:
Research and development— 1,064 — 4,503 
Selling, general and administrative117 8,849 25 30,780 
Total operating expenses117 9,913 25 35,283 
Income (loss) from discontinued operations(117)(7,009)1 (25,923)
(Loss) gain on the sale of the MST Franchise(87)— 12,918 — 
Income (loss) from discontinued operations, before income taxes(204)(7,009)12,919 (25,923)
Income tax expense— — — — 
Net income (loss) from discontinued operations$(204)$(7,009)$12,919 $(25,923)
The following table presents the carrying amounts of the classes of assets and liabilities related to the discontinued operations of the MST Franchise as of September 30, 2022 and December 31, 2021:
(in thousands)September 30, 2022December 31, 2021
Current assets:
Inventory$— $7,291 
Prepaid expenses and other assets— 554 
Total current assets of discontinued operations$— $7,845 
The following table presents non-cash items related to discontinued operations, which are included in the Company's unaudited condensed consolidated statement of cash flows for the nine months ended September 30, 2022 and 2021:
(in thousands)Nine months ended September 30, 2022Nine months ended September 30, 2021
Cash Flows From Operating Activities:
Stock-based compensation (income) expense*$(352)$1,079 
Gain on the sale of the MST Franchise(12,918)— 
Total non-cash items of discontinued operations$(13,270)$1,079 
Supplemental disclosure of cash flow information:
Amount due from sale of MST Franchise$5,000 $— 
*Income from stock-based compensation is related to forfeitures.
The following table presents the gain on the sale of the MST Franchise:

(in thousands)Nine months ended September 30, 2022
Cash proceeds$20,000 
Proceeds to be paid in January 20235,000
25,000 
Less transaction costs(4,334)
Less book value of sold assets(7,748)
Gain on sale, before income taxes12,918
Income tax expense— 
Gain on sale net of tax$12,918