The
major line items constituting the net loss from discontinued operations during the three months ended March 31, 2025 are as follows (in
thousands):
Schedule of Net Loss From Discontinued Operation
| | |
Managed
Services | | |
Reinsurance | | |
Total | |
| | |
Three
Months March 31, 2025 | |
| | |
Managed
Services | | |
Reinsurance | | |
Total | |
| Net product and services revenue | |
$ | 6,573 | | |
$ | - | | |
$ | 6,573 | |
| Net premiums earned | |
| - | | |
| 6,974 | | |
| 6,974 | |
| Total revenue | |
| 6,573 | | |
| 6,974 | | |
| 13,547 | |
| Cost of products and services revenues | |
| (5,717 | ) | |
| - | | |
| (5,717 | ) |
| Net losses and loss adjustment expenses | |
| - | | |
| (3,638 | ) | |
| (3,638 | ) |
| Amortization of deferred policy acquisition
costs | |
| - | | |
| (1,957 | ) | |
| (1,957 | ) |
| Selling and administrative expenses | |
| (1,013 | ) | |
| (880 | ) | |
| (1,893 | ) |
| Impairment of assets | |
| - | | |
| (1,478 | ) | |
| (1,478 | ) |
| Total
expenses | |
| (6,730 | ) | |
| (7,953 | ) | |
| (14,683 | ) |
| Loss from operations | |
| (157 | ) | |
| (979 | ) | |
| (1,136 | ) |
| Other (expense) income | |
| (11 | ) | |
| 21 | | |
| 10 | |
| Loss from discontinued operations before taxes | |
| (168 | ) | |
| (958 | ) | |
| (1,126 | ) |
| Income tax expense | |
| - | | |
| - | | |
| - | |
| Net loss from discontinued
operations | |
$ | (168 | ) | |
$ | (958 | ) | |
$ | (1,126 | ) |
|