| Schedule of Revenues and Gross Profit (Loss) by Reportable Segment |
The following table presents a comparative summary of the Company’s
revenues and gross profit (loss) by reportable segment for the periods presented (in thousands):
| |
|
Year Ended
December 31,
2023 |
|
|
Year Ended
December 31,
2022 |
|
| Segment Revenue |
|
|
|
|
|
|
| Film |
|
$ |
- |
|
|
$ |
- |
|
| Fiber Optics(a)
|
|
|
153 |
|
|
|
- |
|
| Total Revenue |
|
|
153 |
|
|
|
- |
|
|
(a) |
The fiber optics segment commenced operations in 2023, and as
such segment information did not exist as of December 31, 2022. |
|
| Schedule of Operations by Reportable Segment |
Operations by reportable segment for the year ended December 31, 2023,
are as follows (in thousands):
| |
|
Year ended December 31, 2023 |
|
| |
|
Film |
|
|
Fiber Optics |
|
|
Corporate and Other(a) |
|
|
Total |
|
| Total Revenue |
|
$ |
- |
|
|
$ |
153 |
|
|
$ |
- |
|
|
$ |
153 |
|
| Cost of revenue, excluding depreciation and amortization |
|
|
- |
|
|
|
(886 |
) |
|
|
- |
|
|
|
(886 |
) |
| Gross profit (loss) |
|
|
- |
|
|
|
(733 |
) |
|
|
- |
|
|
|
(733 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
(377 |
) |
|
|
(356 |
) |
|
|
- |
|
|
|
(733 |
) |
| Research and development |
|
|
(2,231 |
) |
|
|
- |
|
|
|
- |
|
|
|
(2,231 |
) |
| Selling, general and administrative |
|
|
- |
|
|
|
(4,066 |
) |
|
|
(10,896 |
) |
|
|
(14,962 |
) |
| Goodwill impairment charge |
|
|
- |
|
|
|
(649 |
) |
|
|
- |
|
|
|
(649 |
) |
| Loss from operations |
|
|
(2,608 |
) |
|
|
(5,804 |
) |
|
|
(10,896 |
) |
|
|
(19,308 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
|
- |
|
|
|
(14 |
) |
|
|
(9,403 |
) |
|
|
(9,417 |
) |
| Loss on extinguishment of warrant liability |
|
|
- |
|
|
|
- |
|
|
|
(504 |
) |
|
|
(504 |
) |
| Loss on extinguishment of debt |
|
|
- |
|
|
|
- |
|
|
|
(2,345 |
) |
|
|
(2,345 |
) |
| Gain on issuance of convertible notes |
|
|
- |
|
|
|
- |
|
|
|
64 |
|
|
|
64 |
|
| Change in fair value of warrants |
|
|
- |
|
|
|
- |
|
|
|
10,458 |
|
|
|
10,458 |
|
| Change in fair value of notes |
|
|
- |
|
|
|
- |
|
|
|
(7,040 |
) |
|
|
(7,040 |
) |
| Change in fair value of derivative liability |
|
|
- |
|
|
|
- |
|
|
|
401 |
|
|
|
401 |
|
| Other expense |
|
|
- |
|
|
|
- |
|
|
|
(1,293 |
) |
|
|
(1,293 |
) |
| Total other income (expense) |
|
|
- |
|
|
|
(14 |
) |
|
|
(9,662 |
) |
|
|
(9,676 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss before income taxes |
|
$ |
(2,608 |
) |
|
$ |
(5,818 |
) |
|
$ |
(20,558 |
) |
|
$ |
(28,984 |
) |
|
(a) |
The Corporate and Other are expenses that are not currently
allocated between our film and fiber divisions. |
|
| Schedule of Long-Lived Assets by Segment |
The following table presents long-lived assets by segment (in thousands):
| |
|
Year Ended
December 31,
2023 |
|
|
Year Ended
December 31,
2022 |
|
| Film Segment |
|
$ |
4,372 |
|
|
$ |
5,000 |
|
| Fiber Optics Segment |
|
$ |
3,146 |
|
|
$ |
- |
|
| Other assets(a) |
|
$ |
139 |
|
|
$ |
180 |
|
|
(a) |
“Other assets” primarily includes security deposits made with respect to the Company’s lease agreements. |
|