Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

v2.4.0.6
Discontinued Operations
 3 Months Ended
Mar. 31, 2012
DISCONTINUED OPERATIONS [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
12.    DISCONTINUED OPERATIONS
On December 29, 2011, we entered into an agreement to sell certain assets of our Pharmakon business unit to Informed in exchange for potential future royalty payments and a 1% ownership interest in Informed. The consolidated statement of operations reflects the presentation of Pharmakon as a discontinued operation in all periods presented.
On July 19, 2010, the Board approved closing the TVG business unit. The Company completed the closure of the TVG operations during the quarter ended September 30, 2010, including the completion of all active customer contracts. The financial statements reflect the presentation of TVG as a discontinued operation in all periods presented.
The table below presents the significant components of Pharmakon's and TVG’s results included in Income (loss) from Discontinued Operations in the Condensed Consolidated Statements of Operations for the three-month periods ended March 31, 2012 and 2011.
 
Three Months Ended
 
March 31,
 
2012

2011
Revenue, net
$
—

 
$
1,800

 
 
 
 
Income (loss) from discontinued operations, before income tax
33

 
(152
)
Provision (benefit) for income tax
2

 
(13
)
Income (loss) from discontinued operations, net of tax
$
31

 
$
(139
)
The major classes of assets and liabilities included in the Condensed Consolidated Balance Sheet for TVG and Pharmakon as of March 31, 2012 and December 31, 2011 are as follows:
 
March 31,
2012
 
December 31,
2011
Current assets
$
300

 
$
1,013

Non-current assets
475

 
625

Total assets
$
775

 
$
1,638

Current liabilities
$
624

 
$
1,865

Non-current liabilities
1,345

 
1,526

Total liabilities
$
1,969

 
$
3,391