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Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operation Income Statement, Assets and Liabilities in the Condensed Consolidated Statements of Operations

The following table summarizes the results of the Singing Machine business as a discontinued operation in the condensed consolidated statements of operations for the three and nine months ended September 30, 2025 and 2024:

 

Algorhythm Holdings, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

Schedule of Discontinued Operation Income Statement, Assets and Liabilities in the Condensed Consolidated Statements of Operations

 

             
   For the Three Months Ended   For the Nine Months Ended 
   September 30, 2025   September 30, 2024   September 30, 2025   September 30, 2024 
                 
Net Sales  $584,000   $10,495,000   $4,019,000   $15,361,000 
                     
Cost of Goods Sold   399,000    8,088,000    2,033,000    12,128,000 
                     
Gross Profit   185,000    2,407,000    1,986,000    3,233,000 
                     
Operating Expenses                    
Selling expenses   100,000    653,000    1,098,000    1,830,000 
General and administrative expenses   1,081,000    2,548,000    3,156,000    5,722,000 
Net (gain) loss on early termination of operating lease   -    (3,874,000)   -    4,000 
Total Operating Expenses   1,181,000    (673,000)   4,254,000    7,556,000 
                     
Income (Loss) from Operations   (996,000)   3,080,000    (2,268,000)   (4,323,000)
                     
Other Expenses                    
Interest expense   -    -    -    - 
Loss on sale of Singing Machine business   (104,000)   -    (104,000)   - 
Total Other Expenses   (104,000)   -    (104,000)   - 
                     
Income (Loss) Before Income Tax Benefit   (1,100,000)   3,080,000    (2,372,000)   (4,323,000)
                     
Income Tax   -    -    -    - 
                     
Net Income (Loss) from Discontinued Operations  $(1,100,000)  $3,080,000   $(2,372,000)  $(4,323,000)

 

The following table summarizes the assets and liabilities of the discontinued operations as of September 30, 2025 and December 31, 2024:

 

   September 30, 2025   December 31, 2024 
         
Assets        
         
Current Assets          
Cash  $-   $317,000 
Accounts receivable, net   -    4,252,000 
Accounts receivable, related party   -    212,000 
Inventory   -    2,186,000 
Returns asset   -    1,621,000 
Prepaid expenses and other current assets   -    61,000 
Total Current Assets of Discontinued Operations  $-   $8,649,000 
           
Property and equipment, net   -    282,000 
Other non-current assets   -    124,000 
Total Non-Current Assets of Discontinued Operations  $-   $406,000 
           
Liabilities          
           
Current Liabilities          
Accounts payable  $-   $3,421,000 
Accrued expenses   -    2,478,000 
Refund due to customer   -    38,000 
Reserve for sales returns   -    3,355,000 
Other current liabilities   426,000    95,000 
Total Current Liabilities of Discontinued Operations  $426,000   $9,387,000