Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

v3.24.3
Discontinued Operations
6 Months Ended
Jul. 31, 2024
Discontinued Operations  
Discontinued Operations

Note 4. Discontinued Operations

 

On October 31, 2023, the Board of Directors approved, and the Company completed, the sale of Mercury to Chris Carter, founder and CEO of Mercury.

 

In the consolidated statements of cash flows, the cash flows of discontinued operations were separately classified or aggregated under operating and investing activities.

 

The remaining notes to the consolidated financial statements were updated to reflect the impact of these discontinued operations. All discussions and amounts in the consolidated financial statements and related notes for all periods presented relate to continuing operations, unless otherwise noted.

 

The following table summarizes the results of discontinued operations (in thousands).

 

 

 

For the Three Months Ended July 31,

2023

 

 

For the Six Months Ended July 31,

2023

 

Revenue

 

$ 404

 

 

$ 605

 

Cost of sales

 

 

80

 

 

 

131

 

Gross profit

 

 

324

 

 

 

474

 

Selling, general, and administrative

 

 

662

 

 

 

1,050

 

Depreciation and amortization

 

 

29

 

 

 

57

 

Total operating expenses

 

 

691

 

 

 

1,107

 

Loss from operations

 

 

(367 )

 

 

(633 )

Other expense, net

 

 

(21 )

 

 

(37 )

Loss before income taxes

 

 

(388 )

 

 

(670 )

Income tax benefit

 

 

-

 

 

 

-

 

Net loss

 

$ (388 )

 

$ (670 )