| Schedule of Balance Sheet Detail Information |
|
|
|
March 31, 2021
|
|
|
September 30, 2020
|
|
|
Trade receivables, current, net:
|
|
|
|
|
|
|
|
|
|
Accounts receivable, current
|
|
$
|
22,024
|
|
|
$
|
20,197
|
|
|
Less: Reserve for doubtful accounts
|
|
|
(62
|
)
|
|
|
(76
|
)
|
|
|
|
$
|
21,962
|
|
|
$
|
20,121
|
|
|
Trade receivables , long term, net:
|
|
|
|
|
|
|
|
|
|
Accounts receivable, long term
|
|
$
|
—
|
|
|
$
|
196
|
|
|
Less: Reserve for doubtful accounts
|
|
|
—
|
|
|
|
(196
|
)
|
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Total trade receivables, net:
|
|
|
|
|
|
|
|
|
|
Gross trade receivables
|
|
$
|
22,024
|
|
|
$
|
20,393
|
|
|
Less: Reserve for doubtful accounts
|
|
|
(62
|
)
|
|
|
(272
|
)
|
|
|
|
$
|
21,962
|
|
|
$
|
20,121
|
|
|
Inventory, net
|
|
|
|
|
|
|
|
|
|
Raw materials
|
|
$
|
13,849
|
|
|
$
|
13,175
|
|
|
Work in progress
|
|
|
11,217
|
|
|
|
11,747
|
|
|
Finished goods
|
|
|
23,045
|
|
|
|
25,009
|
|
|
Merchandise
|
|
|
15,785
|
|
|
|
17,729
|
|
|
|
|
|
63,896
|
|
|
|
67,660
|
|
|
Less: Inventory reserves
|
|
|
(2,070
|
)
|
|
|
(3,135
|
)
|
|
|
|
$
|
61,826
|
|
|
$
|
64,525
|
|
|
Property and equipment, net:
|
|
|
|
|
|
|
|
|
|
Building and improvements
|
|
$
|
11,574
|
|
|
$
|
9,908
|
|
|
Transportation equipment
|
|
|
121
|
|
|
|
480
|
|
|
Machinery and equipment
|
|
|
31,713
|
|
|
|
27,217
|
|
|
Furnishings and fixtures
|
|
|
3,806
|
|
|
|
2,908
|
|
|
Office, computer equipment and other
|
|
|
2,712
|
|
|
|
3,445
|
|
|
|
|
|
49,926
|
|
|
|
43,958
|
|
|
Less: Accumulated depreciation
|
|
|
(18,266
|
)
|
|
|
(13,582
|
)
|
|
|
|
$
|
31,660
|
|
|
$
|
30,376
|
|
|
Intangible assets, net:
|
|
|
|
|
|
|
|
|
|
Domain name and marketing related intangibles
|
|
$
|
90
|
|
|
$
|
90
|
|
|
Customer relationship intangibles
|
|
|
2,689
|
|
|
|
2,689
|
|
|
Purchased software
|
|
|
120
|
|
|
|
121
|
|
|
|
|
|
2,899
|
|
|
|
2,900
|
|
|
Less: Accumulated amortization
|
|
|
(2,049
|
)
|
|
|
(1,837
|
)
|
|
|
|
$
|
850
|
|
|
$
|
1,063
|
|
|
Accrued liabilities:
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
$
|
2,861
|
|
|
$
|
4,178
|
|
|
Accrued sales and use taxes
|
|
|
1,590
|
|
|
|
1,251
|
|
|
Accrued property taxes
|
|
|
160
|
|
|
|
270
|
|
|
Accrued gift card and escheatment liability
|
|
|
1,561
|
|
|
|
1,534
|
|
|
Accrued interest payable
|
|
|
258
|
|
|
|
280
|
|
|
Accrued accounts payable and bank overdrafts
|
|
|
1,729
|
|
|
|
3,818
|
|
|
Accrued professional fees
|
|
|
1,910
|
|
|
|
2,191
|
|
|
Customer deposits
|
|
|
220
|
|
|
|
169
|
|
|
Accrued expenses - other
|
|
|
1,971
|
|
|
|
1,131
|
|
|
|
|
$
|
12,260
|
|
|
$
|
14,822
|
|
|
| Summary of Warranty Reserve Activity |
During 2019, the Company became the principal for certain extended warranties, as a result, warranty reserves are included in accrued liabilities in our consolidated balance sheet. The following table summarizes the warranty reserve activity for the six months ended March 31, 2021:
|
Beginning balance, September 30, 2020
|
|
$
|
206
|
|
|
Warranties issued/accrued
|
|
|
—
|
|
|
Warranty settlements
|
|
|
(35
|
)
|
|
Ending balance, March 31, 2021
|
|
$
|
171
|
|
|
| Schedule of Balance Sheet Detail Information |
ApplianceSmart’s balance sheet as of March 31, 2021 is below. The debtor in possession assets and liabilities are primarily related to assets and liabilities incurred pre-petition and are subject to compromise.
|
|
|
March 31, 2021
|
|
|
|
|
(Unaudited)
|
|
|
Assets
|
|
|
|
|
|
Cash
|
|
$
|
19
|
|
|
Inventories, net
|
|
|
181
|
|
|
Total debtor in possession assets
|
|
|
200
|
|
|
Right of use asset - operating leases
|
|
|
665
|
|
|
Other
|
|
|
13
|
|
|
Total assets
|
|
$
|
878
|
|
|
Liabilities and Stockholders' Equity
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
Accounts payable
|
|
$
|
5,879
|
|
|
Accrued liabilities
|
|
|
3,137
|
|
|
Notes payable related parties, including current portion
|
|
|
2,826
|
|
|
Total debtor in possession liabilities
|
|
|
11,842
|
|
|
Accounts payable
|
|
136
|
|
|
Accrued liabilities
|
|
|
706
|
|
|
Lease obligation long term - operating leases
|
|
|
691
|
|
|
Crossroads Financial Revolver Loan
|
|
|
618
|
|
|
Taxes payable
|
|
|
904
|
|
|
Total liabilities
|
|
|
14,897
|
|
|
Stockholders' equity:
|
|
|
|
|
|
Intercompany
|
|
|
1,555
|
|
|
Accumulated deficit
|
|
|
(15,574
|
)
|
|
Total stockholders' equity
|
|
|
(14,019
|
)
|
|
Total liabilities and stockholders' equity
|
|
$
|
878
|
|
|