| Schedule of Operations by Reportable Segment |
Operations by reportable segment for the three months ended March 31, 2024 and 2023, are as follows (in thousands):
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For the three months ended March 31, 2024 |
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Film |
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Fiber Optics |
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Corporate and Other(a)
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|
Total |
| Total Revenue |
$ |
- |
|
|
$ |
682 |
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|
$ |
- |
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|
$ |
682 |
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| Cost of revenue, excluding depreciation and amortization |
- |
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|
(1,636) |
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|
- |
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|
(1,636) |
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| Gross profit (loss) |
- |
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(954) |
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|
- |
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(954) |
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| |
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|
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| Depreciation and amortization |
(142) |
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(70) |
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|
- |
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|
(212) |
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| Research and development |
(756) |
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|
- |
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|
- |
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(756) |
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| Selling, general and administrative |
- |
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(136) |
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(1,647) |
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(1,783) |
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| Loss from operations |
(898) |
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(1,160) |
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(1,647) |
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(3,705) |
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| Other income (expense): |
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| Interest expense |
- |
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(10) |
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(851) |
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(860) |
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| Change in fair value of warrants |
- |
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|
- |
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|
(23) |
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|
(23) |
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| Other expense |
- |
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|
- |
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(24) |
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|
(24) |
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| Total other income (expense) |
- |
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|
(10) |
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|
(898) |
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|
(907) |
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| Loss before income taxes |
$ |
(898) |
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|
$ |
(1,170) |
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$ |
(2,545) |
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|
$ |
(4,612) |
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(a)The Corporate and Other are expenses that are not currently allocated between our film and fiber divisions.
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For the three months ended March 31, 2023 |
|
Film |
|
Fiber Optics |
|
Corporate and Other(a) |
|
Total |
| Total Revenue |
$ |
- |
|
|
$ |
22 |
|
|
$ |
- |
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|
$ |
22 |
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| Cost of revenue, excluding depreciation and amortization |
- |
|
|
(31) |
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|
- |
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|
(31) |
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| Gross profit (loss) |
- |
|
|
(9) |
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|
- |
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|
(9) |
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| |
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| Depreciation and amortization |
(142) |
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|
(40) |
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|
- |
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|
(182) |
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| Research and development |
(541) |
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|
- |
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|
- |
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|
(541) |
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| Selling, general and administrative |
- |
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|
(1,620) |
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|
(1,774) |
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|
(3,394) |
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| Goodwill impairment charge |
- |
|
|
- |
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|
- |
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|
- |
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| Loss from operations |
(683) |
|
|
(1,669) |
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|
(1,774) |
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|
(4,126) |
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| |
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| Other income (expense): |
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| Interest expense |
- |
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|
(7) |
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|
(2,010) |
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|
(2,017) |
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| Loss on extinguishment of warrant liability |
- |
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- |
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(504) |
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|
(504) |
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| Loss on extinguishment of debt |
- |
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- |
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- |
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|
- |
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| Gain on issuance of convertible notes |
- |
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- |
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|
64 |
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|
64 |
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| Change in fair value of warrants |
- |
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|
- |
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|
5,606 |
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|
5,606 |
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| Change in fair value of notes |
- |
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|
- |
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|
(117) |
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|
(117) |
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| Change in fair value of derivative liability |
- |
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|
- |
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|
- |
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|
- |
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| Other expense |
- |
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|
- |
|
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(1,206) |
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|
(1,206) |
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| Total other income (expense) |
- |
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|
(7) |
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|
1,832 |
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|
1,826 |
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| Loss before income taxes |
$ |
(683) |
|
|
$ |
(1,676) |
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$ |
58
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|
$ |
(2,300) |
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(a) The Corporate and Other are expenses that are not currently allocated between our film and fiber divisions.
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| Schedule of Long Lived Assets by Segment |
The following table presents long-lived assets by segment (in thousands):
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For the three months ended |
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2024 |
|
2023 |
| Film Segment |
$ |
3,180 |
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|
$ |
12,953 |
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| Fiber Optics Segment |
$ |
3,076 |
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$ |
1,940 |
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Other assets(a)
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$ |
165 |
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$ |
213 |
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(a)“Other assets” primarily includes security deposits made with respect to the Company’s lease agreements.
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