Annual report pursuant to Section 13 and 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.21.1
DISCONTINUED OPERATIONS (Tables)
12 Months Ended
Dec. 31, 2019
DISCONTINUED OPERATIONS  
Schedule of discontinued operations

 

 

(in thousands)

 

 

 

Year ended December 31,

 

 

 

2020

 

 

2019

 

Total revenues

 

$

3,613

 

 

$

22,068

 

Cost of goods sold

 

 

2,915

 

 

 

12,531

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

698

 

 

 

9,537

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

5,425

 

 

 

12,451

 

Impairment of assets

 

 

10,359

 

 

 

34

 

Loss on sale of assets

 

 

1,997

 

 

 

53

 

 

 

 

 

 

 

 

 

 

Income (Loss) from operations

 

$

(17,083

)

 

$

(3,001

)

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(560

)

 

 

(855

)

Other income (loss)

 

 

12

 

 

 

152

 

 

 

 

 

 

 

 

 

 

Income (Loss) from discontinued operations

 

$

(17,631

)

 

$

(3,704

)

 

 

 

 

 

 

 

 

 

Income (Loss) from discontinued operations per common share attributable to Terra Tech Corp common stockholders - basic and diluted

 

$

(0.02

)

 

$

(0.03

)

Schedule of assets and liabilities for discontinued operations

 

 

(in thousands)

 

 

 

December 31,

2020

 

 

December 31,

2019

 

Accounts receivable, net

 

$

-

 

 

 

1,096

 

Inventory

 

 

-

 

 

 

1,073

 

Prepaid expenses and other assets

 

 

2

 

 

 

271

 

Property, equipment and leasehold improvements, net

 

 

2,766

 

 

 

15,069

 

Intangible assets, net

 

 

-

 

 

 

399

 

Goodwill

 

 

-

 

 

 

6,251

 

Other assets

 

 

186

 

 

 

1,079

 

Assets of discontinued operations

 

$

2,954

 

 

$

25,238

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

985

 

 

$

3,284

 

Deferred gain on sale of assets

 

 

8,783

 

 

 

3,750

 

Long-term lease liabilities

 

 

28

 

 

 

869

 

Liabilities of discontinued operations

 

$

9,796

 

 

$

7,903