Discontinued Operations

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Note 4. Discontinued Operations

On May 16, 2024, the Company sold the GoodWheat brand to Above Food. GoodWheat operations ceased during the second quarter of 2024.

In July 2023, management made the decision to exit its body care brands as a result of continued pressure on the CBD market due to regulatory uncertainty. Body care operations ceased during the third quarter of 2023.

In accordance with the provisions of ASC 205-20, the Company has separately reported the assets and liabilities of the discontinued operations in the consolidated balance sheets and the results of the discontinued operations as separate components on the consolidated statements of operations and comprehensive loss for all periods presented.

Major classes of line items constituting the balance sheet of discontinued operations:


	GoodWheat
(In thousands)	December 31, 2024		December 31, 2023
Assets
Accounts receivable and other receivables	$	96	$	8
Inventories, net — current		—		1,121
Property and equipment, net		—		314
Inventories, net — noncurrent		—		3,158
Total assets	$	96	$	4,601

Liabilities
Accounts payable and accrued expenses	$	—	$	500
Total liabilities	$	—	$	500

Major classes of line items constituting net loss from discontinued operations:


	GoodWheat						Body Care

	Year Ended December 31,						Year Ended December 31,
	2024			2023			2024		2023
(In thousands)
Product revenue	$	372		$	876		$	—	$	357
Cost of revenues		(691	)		(1,126	)		—		(314	)
Research and development		(400	)		(1,323	)		—		—
Gain on sale of property and equipment		65			11			—		—
Selling, general and administrative		(2,067	)		(6,274	)		—		(864	)
Net loss from discontinued operations	$	(2,721	)	$	(7,836	)	$	—	$	(821	)

The following table presents significant cash and non-cash items of discontinued operations:


	GoodWheat						Body Care
	Year Ended December 31,						Year Ended December 31,
(In thousands)	2024			2023			2024		2023
Depreciation	$	45		$	151		$	—	$	24
Write-down of inventories	$	—		$	275		$	—	$	—
Gain on disposal of property and equipment	$	(65	)	$	(11	)	$	—	$	—
Accounts receivable and other receivables	$	(88	)	$	(8	)	$	—	$	66
Inventories	$	(575	)	$	(2,969	)	$	—	$	250
Prepaid expenses and other current assets	$	—		$	—		$	—	$	14
Accounts payable and accrued expenses	$	(501	)	$	26		$	—	$	(26	)
Proceeds from sale of property and equipment	$	334		$	48		$	—	$	—

There were no other significant operating or investing cash or non-cash items for the years ended December 31, 2024 and 2023.