Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.21.1
DISCONTINUED OPERATIONS (Tables)
3 Months Ended
Mar. 31, 2021
DISCONTINUED OPERATIONS  
Schedule of discontinued operations

 

 

(in thousands)

 

 

 

Three Months Ended
March 31,

 

 

 

2021

 

 

2020

 

Total revenues

 

$

-

 

 

$

2,576

 

Cost of goods sold

 

 

-

 

 

 

2,039

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

-

 

 

 

537

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

-

 

 

 

2,594

 

Loss on sale of assets

 

 

-

 

 

 

3,188

 

 

 

 

 

 

 

 

 

 

Income (Loss) from operations

 

$

-

 

 

$

(5,245

)

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

Other income (loss)

 

 

14

 

 

 

11

 

 

 

 

 

 

 

 

 

 

Income (Loss) from discontinued operations

 

$

14

 

 

$

(5,235

)

 

 

 

 

 

 

 

 

 

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

 

$

0.00

 

 

$

(0.03

)

Schedule of assets and liabilities for discontinued operations

 

 

(in thousands)

 

 

 

March 31,
 2021

 

 

December 31,

2020

 

Prepaid expenses and other assets

 

$

1

 

 

$

2

 

Property, equipment and leasehold improvements, net

 

 

2,766

 

 

 

2,766

 

Intangible assets, net

 

 

-

 

 

 

-

 

Goodwill

 

 

-

 

 

 

-

 

Other assets

 

 

161

 

 

 

186

 

Assets of discontinued operations

 

$

2,928

 

 

$

2,954

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

999

 

 

$

985

 

Deferred gain on sale of assets

 

 

8,783

 

 

 

8,783

 

Long-term lease liabilities

 

 

-

 

 

 

28

 

Liabilities of discontinued operations

 

$

9,782

 

 

$

9,796