Note 8 – Discontinued Operations

Throughout the third quarter of 2023, the Company took steps to cease the operations of its fully owned subsidiary, NSL. By September 30, 2023 the aggregation of these efforts resulted in the abandonment of the remaining assets associated with the subsidiary. The Company no longer retains access to the facilities and warehousing locations previously associated with NSL operations. The loss recognized related to the disposal was $ (1,220) and is included in loss from discontinued operations, net of tax.

The major classes of assets and liabilities of our discontinued operations as reported on the Balance Sheet are as follows:

		December 31, 2024		December 31, 2023
Carrying amounts of assets associated with NutraScience Labs included as part of discontinued operations:
Cash and cash equivalents	$	-	$	-
Accounts receivable, net		-		161
Inventories, net		-		-
Prepaid expenses		-		-
Current assets of discontinued operations	$	-	$	161

Property and equipment, net	$	-	$	-
Right of use assets, net		-		-
Deposits and other assets		-		-
Non-current assets of discontinued operations	$	-	$	-

Carrying amounts of liabilities associated with NutraScience Labs included as part of discontinued operations:
Accounts payable	$	4,321	$	4,722
Accrued expenses and other current liabilities		2,276		2,055
Short-term operating lease liabilities		480		480
Current liabilities of discontinued operations	$	7,077	$	7,257

Long-term operating lease liabilities		-		-
Non-current liabilities of discontinued operations	$	-	$	-

The operating results of our discontinued operations are as follows:

	December 31,
		2024		2023
Net sales	$	-	$	7,106
Cost of sales		-		(6,796	)
Operating costs and expense		308		(4,362	)
Income (loss) from discontinued operations before Provision for income taxes		308		(4,052	)
Provision expense (benefit) for income taxes		-		-
Income (loss) from discontinued operations, net of tax	$	308	$	(4,052	)