JanOne Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

GeoTraq (Tables)

GeoTraq (Tables)

12 Months Ended

Dec. 31, 2022

The following table illustrates the calculation of the gain on sale of GeoTraq, including the charges to income referenced above, as shown on the income statement (in $000's):


Purchase price	$	13,500
Discount on note receivable		(4,013	)
Premium on shares received		46
Derecognition of GeoTraq inventory		(105	)
Gain on sale	$	9,428

Schedule of consolidated balance sheet, discontinued operations

The assets and liabilities have been reflected in the consolidated balance sheets as of December 31, 2022 and January 1, 2022, and consist of the following:


	December 31, 2022		January 1, 2022
Assets from discontinued operations
Inventories	$	—	$	105
Total current assets from discontinued operations		—		105
Property and equipment, net		—		2
Total assets from discontinued operations	$	—	$	107
Liabilities from discontinued operations
Accounts payable	$	—	$	195
Total current liabilities from discontinued operations	$	—	$	195

Schedule of property and equipment, net, discontinued operations

Property and equipment, net, from discontinued operations consist of the following:


	Useful Life (Years)	December 31, 2022		January 1, 2022
Equipment	3-15	$	—	$	41
Property and equipment			—		41
Less accumulated depreciation			—		(39	)
Total property and equipment, net, from discontinued operations		$	—	$	2

Schedule of consolidated statements of operations and comprehensive income (loss), discontinued operations

The results of operations for discontinued operations for the years ended December 31, 2022 and January 1, 2022 have been reflected as discontinued operations in the consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2022 and January 1, 2022, and consist of the following:


	Fiscal Years Ended
	December 31, 2022			January 1, 2022
Operating expenses from discontinued operations:
Selling, general and administrative expenses	$	10		$	3,764
Impairment charges		—			9,786
Gain on sale of GeoTraq		(9,428	)		—
Total operating expenses from discontinued operations		(9,418	)		13,550
Operating income (loss) from discontinued operations		9,418			(13,550	)
Other income (expense) from discontinued operations
Gain on debt settlement		—			73
Other income, net		144			(96	)
Total other income, net		144			(23	)
Income (loss) before benefit from income taxes from discontinued operations		9,562			(13,573	)
Income tax provision		2,159			—
Net income (loss) from discontinued operations	$	7,403		$	(13,573	)