Annual report pursuant to Section 13 and 15(d)

Discontinued Operations

v2.4.1.9
Discontinued Operations
 12 Months Ended
Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
Discontinued Operations
 
On December 31, 2014 the Company classified Group DCA as held-for-sale and wrote the assets of the business down to their fair values as the assets have become impaired. On December 29, 2011 the Company entered into an agreement to sell certain assets of our Pharmakon business unit to Informed Medical Communications, Inc. (“Informed”) in exchange for potential future royalty payments and an ownership interest in Informed. In the fourth quarter of 2012, the Company wrote-off all of the assets related to the sale of Pharmakon to Informed as it believes that these assets have become impaired. On July 19, 2010, the Board approved closing the TVG business unit. The Company notified employees and issued a press release announcing this decision on July 20, 2010. The Consolidated Statements of Comprehensive Loss reflect the presentation of Group DCA, Pharmakon, and TVG as discontinued operations in all periods presented.

The table below presents the significant components of Group DCA's, Pharmakon's and TVG’s results included in Loss from Discontinued Operations, Net of Tax in the consolidated statements of comprehensive loss for the years ended December 31, 2014 and 2013.

 
For the Years Ended December 31,
 
2014
 
2013
Revenue, net
$
3,214

 
$
4,309

 
 
 
 
Loss from discontinued operations, before income tax (1)
(6,666
)
 
(2,884
)
Income tax expense
5

 
5

Loss from discontinued operations, net of tax
$
(6,671
)
 
$
(2,889
)


(1) Includes loss on disposal of assets and liabilities held-for-sale of $1.2 million and write-off of assets of $0.7 million.

The assets and liabilities classified as held-for-sale and discontinued operations relate to Group DCA, Pharmakon, and TVG. As of December 31, 2014 and December 31, 2013 these assets and liabilities are in the accompanying balance sheets as follows:

 
For the Years Ended December 31,
 
2014
 
2013
 
Group DCA
 
Other
 
Total
 
Group DCA
 
Other
 
Total
Accounts receivable, net
$
613

 
$
—

 
$
613

 
$
519

 
$
—

 
$
519

Other
—

 
—

 
—

 
87

 
—

 
87

   Other current assets
613

 
—

 
613

 
606

 
—

 
606

Property and equipment, net
—

 
—

 
—

 
1,221

 
—

 
1,221

Goodwill
1,295

 
—

 
1,295

 
2,523

 
—

 
2,523

Other
—

 
150

 
150

 
157

 
150

 
307

   Other long-term assets
1,295

 
150

 
1,445

 
3,901

 
150

 
4,051

      Total assets
$
1,908

 
$
150

 
$
2,058

 
$
4,507

 
$
150

 
$
4,657

 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
$
69

 
$
—

 
$
69

 
$
150

 
$
—

 
$
150

Unearned contract revenue
1,698

 
—

 
1,698

 
2,033

 
—

 
2,033

Accrued salary and bonus
550

 
—

 
550

 
266

 
—

 
266

Other
78

 
425

 
503

 
1,641

 
405

 
2,046

   Other accrued expenses
2,395

 
425

 
2,820

 
4,090

 
405

 
4,495

Other long-term liabilities
—

 
329

 
329

 
198

 
619

 
817

     Total liabilities
$
2,395

 
$
754

 
$
3,149

 
$
4,288

 
$
1,024

 
$
5,312