| Assets and liabilities of disposal group |
The carrying value of the assets and liabilities
of discontinued operations on the condensed consolidated balance sheets as of June 30, 2020 and March 31, 2020 were as follows:
| |
|
|
June 30, 2020
|
|
|
|
March 31, 2020
|
|
| Assets |
|
|
|
|
|
|
|
|
| Accounts receivable (net) |
|
$ |
– |
|
|
$ |
89,000 |
|
| Inventory |
|
|
– |
|
|
|
11,000 |
|
| Operating lease, right of use |
|
|
– |
|
|
|
604,000 |
|
| Total current assets of discontinued operations |
|
$ |
– |
|
|
$ |
704,000 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
– |
|
|
$ |
18,000 |
|
| Operating lease |
|
|
– |
|
|
|
117,000 |
|
| Total current liabilities of discontinued operations |
|
$ |
– |
|
|
$ |
135,000 |
|
| |
|
|
|
|
|
|
|
|
| Operating lease |
|
$ |
– |
|
|
$ |
511,000 |
|
| Total Long-term liabilities of discontinued operations |
|
$ |
– |
|
|
$ |
511,000 |
|
The operations of its Micromed business included in discontinued
operations as restated is summarized as follows:
| |
|
Three Months Ended June 30,
|
|
| |
|
2020 |
|
|
2019 |
|
| Revenues |
|
$ |
212,000 |
|
|
$ |
216,000 |
|
| Cost of Revenues |
|
|
53,000 |
|
|
|
143,000 |
|
| Selling, general and administrative expenses |
|
|
5,000 |
|
|
|
32,000 |
|
| Income from discontinued operations before tax |
|
|
154,000 |
|
|
|
41,000 |
|
| Gain on disposal of discontinued operations before income taxes |
|
|
795,000 |
|
|
|
– |
|
| Total income from discontinued operations, before tax |
|
|
949,000 |
|
|
|
41,000 |
|
| Income Tax benefit (expense) |
|
|
– |
|
|
|
– |
|
| Income from discontinued operations, net of tax |
|