Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

v2.4.0.8
Discontinued Operations
 6 Months Ended
Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations [Text Block]
DISCONTINUED OPERATIONS
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 (Income) reflect the presentation of Pharmakon and TVG as discontinued operations in all periods presented.

The table below presents the significant components of Pharmakon's and TVG’s results included in Loss from discontinued operations in the Condensed Consolidated Statements of Comprehensive (Loss) Income for the three- and six-month periods ended June 30, 2014 and 2013.
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2014

2013
 
2014
 
2013
Revenue, net
$
—

 
$
—

 
$
—

 
$
—

Loss from discontinued operations, before income tax
(56
)
 
53

 
(87
)
 
—

Provision for income tax
1

 
1

 
2

 
2

Loss from discontinued operations, net of tax
$
(57
)
 
$
52

 
$
(89
)
 
$
(2
)

The major classes of assets and liabilities included in the Condensed Consolidated Balance Sheets for TVG and Pharmakon as of June 30, 2014 and December 31, 2013 are as follows:
 
June 30,
2014
 
December 31,
2013
Current assets
$
—

 
$
—

Non-current assets
150

 
150

Total assets
$
150

 
$
150

Current liabilities
$
390

 
$
405

Non-current liabilities
469

 
619

Total liabilities
$
859

 
$
1,024