| Schedule of Balance Sheet Detail Information |
|
|
|
|
|
|
|
|
|
|
|
June 30, 2021 |
|
|
September 30, 2020 |
|
Trade receivables, current, net: |
|
|
|
|
|
|
Accounts receivable, current |
|
$ |
19,644 |
|
|
$ |
20,197 |
|
Less: Reserve for doubtful accounts |
|
|
(268 |
) |
|
|
(76 |
) |
|
|
$ |
19,376 |
|
|
$ |
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 |
|
$ |
19,644 |
|
|
$ |
20,393 |
|
Less: Reserve for doubtful accounts |
|
|
(268 |
) |
|
|
(272 |
) |
|
|
$ |
19,376 |
|
|
$ |
20,121 |
|
Inventory, net |
|
|
|
|
|
|
Raw materials |
|
$ |
15,156 |
|
|
$ |
13,175 |
|
Work in progress |
|
|
12,483 |
|
|
|
11,747 |
|
Finished goods |
|
|
19,048 |
|
|
|
25,009 |
|
Merchandise |
|
|
16,637 |
|
|
|
17,729 |
|
|
|
|
63,324 |
|
|
|
67,660 |
|
Less: Inventory reserves |
|
|
(1,898 |
) |
|
|
(3,135 |
) |
|
|
$ |
61,426 |
|
|
$ |
64,525 |
|
Property and equipment, net: |
|
|
|
|
|
|
Building and improvements |
|
$ |
11,643 |
|
|
$ |
9,908 |
|
Transportation equipment |
|
|
121 |
|
|
|
480 |
|
Machinery and equipment |
|
|
34,078 |
|
|
|
27,217 |
|
Furnishings and fixtures |
|
|
3,820 |
|
|
|
2,908 |
|
Office, computer equipment and other |
|
|
2,727 |
|
|
|
3,445 |
|
|
|
|
52,391 |
|
|
|
43,958 |
|
Less: Accumulated depreciation |
|
|
(19,447 |
) |
|
|
(13,582 |
) |
|
|
$ |
32,942 |
|
|
$ |
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 |
|
|
(2,155 |
) |
|
|
(1,837 |
) |
|
|
$ |
744 |
|
|
$ |
1,063 |
|
Accrued liabilities: |
|
|
|
|
|
|
Compensation and benefits |
|
$ |
4,498 |
|
|
$ |
4,178 |
|
Accrued sales and use taxes |
|
|
1,245 |
|
|
|
1,251 |
|
Accrued property taxes |
|
|
1,993 |
|
|
|
270 |
|
Accrued gift card and escheatment liability |
|
|
1,579 |
|
|
|
1,534 |
|
Accrued interest payable |
|
|
221 |
|
|
|
280 |
|
Accrued accounts payable and bank overdrafts |
|
|
903 |
|
|
|
3,818 |
|
Accrued professional fees |
|
|
1,450 |
|
|
|
2,191 |
|
Customer deposits |
|
|
206 |
|
|
|
169 |
|
Accrued expenses - other |
|
|
1,249 |
|
|
|
1,131 |
|
|
|
$ |
13,344 |
|
|
$ |
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 nine months ended June 30, 2021:
|
|
|
|
|
Beginning balance, September 30, 2020 |
|
$ |
206 |
|
Warranties issued/accrued |
|
|
— |
|
Warranty settlements |
|
|
(61 |
) |
Ending balance, June 30, 2021 |
|
$ |
145 |
|
|
| Schedule of Balance Sheet Detail Information |
ApplianceSmart’s balance sheet as of June 30, 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.
|
|
|
|
|
|
|
June 30, 2021 |
|
|
|
(Unaudited) |
|
Assets |
|
|
|
Cash |
|
$ |
6 |
|
Inventories, net |
|
|
156 |
|
Total debtor in possession assets |
|
|
162 |
|
Right of use asset - operating leases |
|
|
640 |
|
Other |
|
|
10 |
|
Total assets |
|
$ |
812 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities: |
|
|
|
Accounts payable |
|
$ |
5,419 |
|
Accrued liabilities |
|
|
2,963 |
|
Notes payable related parties, including current portion |
|
|
2,826 |
|
Total debtor in possession liabilities |
|
|
11,208 |
|
Accounts payable |
|
77 |
|
Accrued liabilities |
|
|
635 |
|
Lease obligation - operating leases |
|
|
666 |
|
Taxes payable |
|
|
859 |
|
Total liabilities |
|
|
13,445 |
|
Stockholders' equity: |
|
|
|
Intercompany |
|
|
2,434 |
|
Accumulated deficit |
|
|
(15,067 |
) |
Total stockholders' equity |
|
|
(12,633 |
) |
Total liabilities and stockholders' equity |
|
$ |
812 |
|
|