| Summary of Balance Sheet Reclassifications |
The table below details the balance sheet reclassifications:
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|
December 29, 2018 as reported
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Reclasses
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December 29, 2018 current presentation
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Assets
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|
|
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|
|
|
|
|
|
|
|
|
Cash and cash equivalents
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|
$
|
1,195
|
|
|
$
|
—
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|
|
$
|
1,195
|
|
|
Trade and other receivables, net
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|
5,804
|
|
|
|
—
|
|
|
|
5,804
|
|
|
Income taxes receivable
|
|
|
101
|
|
|
|
—
|
|
|
|
101
|
|
|
Inventories
|
|
|
801
|
|
|
|
—
|
|
|
|
801
|
|
|
Prepaid expenses and other current assets
|
|
|
617
|
|
|
|
419
|
|
a
|
|
1,036
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|
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Total current assets
|
|
|
8,518
|
|
|
|
419
|
|
|
|
8,937
|
|
|
Note receivable - ApplianceSmart Holdings, LLC a subsidiary of Live
Ventures Incorporated
|
|
|
3,837
|
|
|
|
—
|
|
|
|
3,837
|
|
|
Property and equipment, net
|
|
|
617
|
|
|
|
(406
|
)
|
b
|
|
211
|
|
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Intangible assets, net
|
|
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20,988
|
|
|
|
406
|
|
b
|
|
21,394
|
|
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Deposits and other assets
|
|
|
661
|
|
|
|
—
|
|
|
|
661
|
|
|
Total assets
|
|
$
|
34,621
|
|
|
$
|
419
|
|
|
$
|
35,040
|
|
|
Liabilities and Stockholders' Equity
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|
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|
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|
|
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|
|
|
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Liabilities:
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|
|
|
|
|
|
|
|
|
|
|
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Accounts payable
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|
$
|
3,169
|
|
|
$
|
—
|
|
|
$
|
3,169
|
|
|
Accrued liabilities - other
|
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|
1,118
|
|
|
|
—
|
|
|
|
1,118
|
|
|
Accrued liability - California Sales Taxes
|
|
|
4,722
|
|
|
|
—
|
|
|
|
4,722
|
|
|
Short term debt
|
|
|
256
|
|
|
|
419
|
|
a
|
|
675
|
|
|
Total current liabilities
|
|
|
9,265
|
|
|
|
419
|
|
|
|
9,684
|
|
|
Deferred income taxes, net
|
|
|
3,549
|
|
|
|
—
|
|
|
|
3,549
|
|
|
Other noncurrent liabilities
|
|
|
196
|
|
|
|
—
|
|
|
|
196
|
|
|
Total liabilities
|
|
|
13,010
|
|
|
|
419
|
|
|
|
13,429
|
|
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Commitments and Contingencies
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|
|
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|
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Stockholders' equity:
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|
|
|
|
|
|
|
|
|
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Preferred stock, series A
|
|
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—
|
|
|
|
—
|
|
|
|
—
|
|
|
Common stock
|
|
|
2
|
|
|
|
—
|
|
|
|
2
|
|
|
Additional paid in capital
|
|
|
38,660
|
|
|
|
—
|
|
|
|
38,660
|
|
|
Accumulated deficit
|
|
|
(16,518
|
)
|
|
|
—
|
|
|
|
(16,518
|
)
|
|
Accumulated other comprehensive loss
|
|
|
(533
|
)
|
|
|
—
|
|
|
|
(533
|
)
|
|
Total stockholders' equity
|
|
|
21,611
|
|
|
|
—
|
|
|
|
21,611
|
|
|
Total liabilities and stockholders' equity
|
|
$
|
34,621
|
|
|
$
|
419
|
|
|
$
|
35,040
|
|
|
|
a.
|
As of December 31, 2018, the Company has $419 of unamortized debt issuance costs associated with a revolving credit facility. Because there was no balance outstanding on the credit facility as of December 31, 2018, the Company should have reclassified the debt issuance costs from a contra liability to a deferred asset.
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b.
|
During fiscal 2019, the Company noted that its internally developed software, net of amortization, of $406 was included in property, plant and equipment instead of intangibles as of December 29, 2018. The Company has reclassified its internally developed software from property, plant and equipment to intangibles as of December 29, 2018.
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