Cover
Cover - $ / shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 01, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2024 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-32146 | |
Entity Registrant Name | DSS, INC. | |
Entity Central Index Key | 0000771999 | |
Entity Tax Identification Number | 16-1229730 | |
Entity Incorporation, State or Country Code | NY | |
Entity Address, Address Line One | 275 Wiregrass Pkwy | |
Entity Address, City or Town | West Henrietta | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 14586 | |
City Area Code | (585) | |
Local Phone Number | 325-3610 | |
Title of 12(b) Security | Common Stock, $0.02 par value per share | |
Trading Symbol | DSS | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,066,772 | |
Entity Listing, Par Value Per Share | $ 0.02 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 10,719,000 | $ 6,615,000 |
Accounts receivable, net | 2,531,000 | 3,994,000 |
Inventory | 3,572,000 | 2,819,000 |
Assets held for sale | 46,040,000 | 51,595,000 |
Current portion of notes receivable | 3,907,000 | 8,772,000 |
Prepaid expenses and other current assets | 929,000 | 839,000 |
Total current assets | 67,698,000 | 74,634,000 |
Property, plant and equipment, net | 6,054,000 | 6,417,000 |
Investment in real estate, net | 6,226,000 | 6,279,000 |
Other investments | 1,282,000 | 1,282,000 |
Investment, equity method | 135,000 | 128,000 |
Marketable securities | 9,558,000 | 9,979,000 |
Notes receivable | 117,000 | 111,000 |
Other assets | 139,000 | 97,000 |
Right-of-use assets | 6,841,000 | 7,210,000 |
Goodwill | 26,862,000 | 26,862,000 |
Other intangible assets, net | 19,536,000 | 20,193,000 |
Total assets | 144,448,000 | 153,192,000 |
Current liabilities: | ||
Accounts payable | 3,430,000 | 3,654,000 |
Accrued expenses and deferred revenue | 1,989,000 | 2,512,000 |
Other current liabilities | 2,456,000 | 983,000 |
Current portion of lease liability | 661,000 | 686,000 |
Current portion of long-term debt, net | 49,130,000 | 47,776,000 |
Total current liabilities | 57,666,000 | 55,611,000 |
Long-term debt, net | 7,029,000 | 7,451,000 |
Long term lease liability | 6,603,000 | 6,917,000 |
Commitments and contingencies (Note 11) | ||
Stockholders’ equity | ||
Preferred stock, $.02 par value; 47,000 shares authorized, zero shares issued and outstanding (zero on December 31, 2023); Liquidation value $1,000 per share, zero aggregate. zero on December 31, 2023). | ||
Common stock, $.02 par value; 200,000,000 shares authorized, 7,066,772 shares issued and outstanding (7,066,772 on December 31, 2023) | 140,000 | 140,000 |
Additional paid-in capital | 319,963,000 | 319,963,000 |
Accumulated deficit | (264,930,000) | (256,176,000) |
Total stockholders’ equity | 55,173,000 | 63,927,000 |
Non-controlling interest in subsidiaries | 17,977,000 | 19,286,000 |
Total stockholders’ equity | 73,150,000 | 83,213,000 |
Total liabilities and stockholders’ equity | $ 144,448,000 | $ 153,192,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.02 | $ 0.02 |
Preferred stock, shares authorized | 47,000 | 47,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Preferred stock, liquidation preference per share | $ 1,000 | $ 1,000 |
Preferred stock, liquidation preference | $ 0 | $ 0 |
Common stock, par value | $ 0.02 | $ 0.02 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 7,066,772 | 7,066,772 |
Common stock, shares outstanding | 7,066,772 | 7,066,772 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenue: | ||||
Total revenue | $ 4,211,000 | $ 7,233,000 | $ 8,082,000 | $ 19,064,000 |
Costs and expenses: | ||||
Cost of revenue | 5,673,000 | 4,832,000 | 10,663,000 | 13,365,000 |
Selling, general and administrative | 3,473,000 | 8,851,000 | 7,035,000 | 17,824,000 |
Total costs and expenses | 9,146,000 | 13,683,000 | 17,698,000 | 31,189,000 |
Operating loss | (4,935,000) | (6,450,000) | (9,616,000) | (12,125,000) |
Other income (expense): | ||||
Interest income | 195,000 | 407,000 | 302,000 | 538,000 |
Dividend income | 8,000 | 12,000 | ||
Other income (expense) | 12,000 | 147,000 | 38,000 | 175,000 |
Interest expense | (142,000) | (138,000) | (190,000) | (388,000) |
Foreign Currency Translation Adjustment | (9,000) | (14,000) | ||
Gain/(loss) on equity method investment | 8,000 | (18,000) | 7,000 | (22,000) |
Loss on investments | (383,000) | (27,922,000) | (572,000) | (30,790,000) |
Provision for loan losses | (53,000) | (3,757,000) | (346,000) | (3,757,000) |
Gain on sale of assets | 165,000 | 165,000 | ||
Loss from continuing operations before income taxes | (5,142,000) | (37,723,000) | (10,226,000) | (46,357,000) |
Income tax benefit | 188,000 | 163,000 | ||
Net loss | (4,954,000) | (37,723,000) | (10,063,000) | (46,357,000) |
Loss (gain) from continuing operations attributed to noncontrolling interest | 271,000 | (200,000) | 1,309,000 | 398,000 |
Net loss attributable to common stockholders | $ (4,683,000) | $ (37,923,000) | $ (8,754,000) | $ (45,959,000) |
Loss per common share: | ||||
Basic | $ (0.66) | $ (5.41) | $ (1.24) | $ (6.59) |
Diluted | $ (0.66) | $ (5.41) | $ (1.24) | $ (6.59) |
Shares used in computing loss per common share: | ||||
Basic | 7,066,772 | 7,007,046 | 7,066,772 | 6,978,952 |
Diluted | 7,066,772 | 7,007,046 | 7,066,772 | 6,978,952 |
Printed Products [Member] | ||||
Revenue: | ||||
Total revenue | $ 3,528,000 | $ 3,626,000 | $ 6,601,000 | $ 9,661,000 |
Rental Income [Member] | ||||
Revenue: | ||||
Total revenue | 438,000 | 1,543,000 | 838,000 | 3,228,000 |
Net Investment Income [Member] | ||||
Revenue: | ||||
Total revenue | 41,000 | 197,000 | 136,000 | 314,000 |
Direct Marketing [Member] | ||||
Revenue: | ||||
Total revenue | 1,572,000 | 5,566,000 | ||
Commission Revenue [Member] | ||||
Revenue: | ||||
Total revenue | $ 204,000 | $ 295,000 | $ 507,000 | $ 295,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Loss from continuing operations | $ (10,063,000) | $ (46,357,000) |
Adjustments to reconcile loss from continuing operations to net cash used by operating activities: | ||
Depreciation and amortization | 1,136,000 | 2,647,000 |
Stock based compensation | 268,000 | |
Loss (income) on equity method investment | (7,000) | 22,000 |
Gain on investments | 572,000 | 30,790,000 |
Change in ROU assets | 369,000 | 774,000 |
Gain on sale of assets | (165,000) | |
Provision for loan losses | 815,000 | 3,757,000 |
Decrease (increase) in assets: | ||
Accounts receivable | 1,679,000 | 2,531,000 |
Inventory | (753,000) | 4,707,000 |
Prepaid expenses and other current assets | 504,000 | 592,000 |
Other assets | (42,000) | 3,123,000 |
Increase (decrease) in liabilities: | ||
Accounts payable | (224,000) | (3,846,000) |
Accrued expenses | (529,000) | (15,958,000) |
ROU liabilities | (339,000) | (1,052,000) |
Other liabilities | 1,473,000 | (81,000) |
Net cash used by operating activities - continuing operations | (5,574,000) | (18,083,000) |
Net cash used by operating activities - held for sale | (1,632,000) | |
Net cash used by operating activities | (5,574,000) | (19,715,000) |
Cash flows from investing activities: | ||
Purchase of property, plant and equipment | (29,000) | (496,000) |
Purchase of investment | (379,000) | |
Disposal of property, plant and equipment | 5,140,000 | 215,000 |
Sale of marketable securities | 11,330,000 | |
Payments received on notes receivable | 4,044,000 | 2,327,000 |
Net cash provided by investing activities | 8,776,000 | 13,376,000 |
Cash flows from financing activities: | ||
Payments of long-term debt | (1,269,000) | (5,519,000) |
Borrowings of long-term debt | 2,171,000 | 2,601,000 |
Net cash provided (used) by financing activities | 902,000 | (2,918,000) |
Net increase (decrease) in cash - continuing operations | 4,104,000 | (7,625,000) |
Net increase (decrease) in cash - held for sale | (1,632,000) | |
Cash and cash equivalents at beginning of period | 6,615,000 | 19,290,000 |
Cash and cash equivalents at end of period | $ 10,719,000 | $ 10,033,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Beginning balance, value at Dec. 31, 2022 | $ 139,000 | $ 319,766,000 | $ (194,343,000) | $ 125,562,000 | $ 31,119,000 | $ 156,681,000 | |
Balance, shares at Dec. 31, 2022 | 6,950,858 | ||||||
Stock based payments | $ 1,000 | 267,000 | 268,000 | 268,000 | |||
Stock based payments, shares | 62,350 | ||||||
Deconsolidation of Sharing Services | 18,773,000 | 18,773,000 | 5,064,000 | 23,837,000 | |||
Net loss | (45,959,000) | (45,959,000) | (398,000) | (46,357,000) | |||
Ending balance, value at Jun. 30, 2023 | $ 140,000 | 320,033,000 | (221,529,000) | 98,644,000 | 35,785,000 | 134,429,000 | |
Balance, shares at Jun. 30, 2023 | 7,013,208 | ||||||
Beginning balance, value at Dec. 31, 2023 | $ 140,000 | 319,963,000 | (256,176,000) | 63,927,000 | 19,286,000 | 83,213,000 | |
Balance, shares at Dec. 31, 2023 | 7,066,772 | ||||||
Net loss | (8,754,000) | (8,754,000) | (1,309,000) | (10,063,000) | |||
Ending balance, value at Jun. 30, 2024 | $ 140,000 | $ 319,963,000 | $ (264,930,000) | $ 55,173,000 | $ 17,977,000 | $ 73,150,000 | |
Balance, shares at Jun. 30, 2024 | 7,066,772 |
Basis of Presentation and Signi
Basis of Presentation and Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | 1. Basis of Presentation and Significant Accounting Policies The Company, incorporated in the state of New York in May 1984 has conducted business in the name of DSS, Inc. On September 16, 2021, the board of directors approved an agreement and plan of merger with a wholly owned subsidiary, DSS, Inc. (a New York corporation, incorporated in August 2020), for the sole purpose of effecting a name change from Document Security Systems, Inc. to DSS, Inc. This change became effective on September 30, 2021. DSS, Inc. maintained the same trading symbol “DSS”. DSS, Inc. (together with its consolidated subsidiaries, referred to herein as “DSS,” “we,” “us,” “our” or the “Company”), currently operates nine (9) distinct business lines with operations and locations around the globe. These business lines are: (1) Product Packaging, (2) Biotechnology, (3) Direct, (4) Commercial Lending, (5) Securities and Investment Management, (6) Alternative Trading (7) Digital Transformation (discontinued in 2023), (8) Secure Living (discontinued in 2023), and (9) Alternative Energy (discontinued in 2023). Each of these business lines are in different stages of development, growth, and income generation. Our divisions, their business lines, subsidiaries, and operating territories: (1) Our Product Packaging line is led by Premier Packaging Corporation, Inc. (“Premier”), a New York corporation. Premier operates in the paper board and fiber based folding carton, consumer product packaging, and document security printing markets. It markets, manufactures, and sells sophisticated custom folding cartons, mailers, photo sleeves and complex 3-dimensional direct mail solutions. Premier is currently located in its new facility in Rochester, NY, and primarily serves the US market. (2) The Biotechnology business line was created to invest in or acquire companies in the BioHealth and BioMedical fields, including businesses focused on the advancement of drug discovery and prevention, inhibition, and treatment of neurological, oncological, and immune related diseases. This division is also targeting unmet, urgent medical needs, and is developing open-air defense initiatives, which curb transmission of air-borne infectious diseases, such as tuberculosis and influenza. (3) Direct Marketing, led by the holding corporation, Decentralized Sharing Systems, Inc. (“Decentralized”) provides services to assist companies in the emerging growth “Gig” business model of peer-to-peer decentralized sharing marketplaces. Direct Marketing’s products include, among other things, nutritional and personal care products sold throughout North America, Asia Pacific, Middle East, and Eastern Europe. (4) Our Commercial Lending business division, driven by American Pacific Bancorp (“APB”), is organized for the purposes of being a financial network holding company, focused on acquiring equity positions in (i) undervalued commercial bank(s), bank holding companies and nonbanking licensed financial companies operating in the United States, South East Asia, Taiwan, Japan and South Korea, and (ii) companies engaged in—nonbanking activities closely related to banking, including loan syndication services, mortgage banking, trust and escrow services, banking technology, loan servicing, equipment leasing, problem asset management, SPAC (special purpose acquisition company) consulting services, and advisory capital raising services. (5) Securities and Investment Management was established to develop and/or acquire assets in the securities trading or management arena, and to pursue, among other product and service lines, broker dealers, and mutual funds management. Also in this segment is the Company’s real estate investment trusts (“REIT”), organized for the purposes of acquiring hospitals and other acute or post-acute care centers from leading clinical operators with dominant market share in secondary and tertiary markets, and leasing each property to a single operator under a triple-net lease. the REIT was formed to originate, acquire, and lease a credit-centric portfolio of licensed medical real estate. (6) Alternative Trading was established to develop and/or acquire assets and investments in the securities trading and/or funds management arena. Alternative Trading, in partnership with recognized global leaders in alternative trading systems, intends to own and operate in the US a single or multiple vertical digital asset exchanges for securities, tokenized assets, utility tokens, and cryptocurrency via an alternative trading platform using blockchain technology. The scope of services within this section is planned to include asset issuance and allocation (securities and cryptocurrency), FPO, IPO, ITO, PPO, and UTO listings on a primary market(s), asset digitization/tokenization (securities, currency, and cryptocurrency), and the listing and trading of digital assets (securities and cryptocurrency) on a secondary market(s). (7) Digital Transformation was established to be a Preferred Technology Partner and Application Development Solution for mid cap brands in various industries including the direct selling and affiliate marketing sector. Digital improves marketing, communications and operations processes with custom software development and implementation (discontinued in 2023). (8) The Secure Living division has developed a plan for fully sustainable, secure, connected, and healthy living communities with homes incorporating advanced technology, energy efficiency, and quality of life living environments both for new construction and renovations for single and multi-family residential housing (discontinued in 2023). (9) The Alternative Energy group was established to help lead the Company’s future in the clean energy business that focuses on environmentally responsible and sustainable measures. Alset Energy, Inc, the holding company for this group, and its wholly owned subsidiary, Alset Solar, Inc., pursue utility-scale solar farms to serve US regional power grids and to provide underutilized properties with small microgrids for independent energy (discontinued in 2023). The accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments, unless otherwise indicated) necessary to present fairly our consolidated financial position as of June 30, 2024 and December 31, 2023, and the results of our consolidated operations for the interim periods presented. We follow the same accounting policies when preparing quarterly financial data as we use for preparing annual data. These statements should be read in conjunction with the consolidated financial statements and the notes included in our latest annual report on Form 10-K, for the fiscal year ended December 31, 2023 (“Form 10-K”), and our other reports on file with the Securities and Exchange Commission (the “SEC”). Principles of Consolidation Deconsolidation of Sharing Services Global Corporation(“SHRG”) 280 7 81 Upon Deconsolidation, we recognized a loss before income taxes of approximately $ 29,196,000 Use of Estimates Cash Equivalents Accounts/Rents Receivable At June 30, 2024, and December 31, 2023, the Company established a reserve for credit losses of approximately $ 2,500,000 2,494,000 Concentration of Credit Risk 24 39 As of June 30, 2023, two customers accounted for approximately 19 5 55 14 As of December 31, 2023, two customers accounted for approximately 20 11 39 30 For the six months ended of June 30, 2024 one vendor accounted for approximately 12 14 Notes receivable, unearned interest, and related recognition Allowance For Loans And Lease Losses ASU No.2016-13 – Credit Losses” Investments Fair Value of Financial Instruments - ● Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets. ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The carrying amounts reported in the consolidated balance sheet of cash and cash equivalents, accounts receivable, prepaids, accounts payable and accrued expenses approximate fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities classify as a Level 1 fair value financial instrument. The fair value of notes receivable approximates their carrying value as the stated or discounted rates of the notes do not reflect recent market conditions. The fair value of revolving credit lines notes payable and long-term debt approximates their carrying value as the stated or discounted rates of the debt reflect recent market conditions. The fair value of investments where the fair value is not considered readily determinable, are carried at cost. Inventory 30,000 18,000 Investments in real estate, net Assets held for sale 5,593,000 41,570,000 4,396,000 65,000 Intangible Assets 7,418,000 Goodwill 1,769,000 25,093,000 29,744,000 1,234,000 Impairment of Long-Lived Assets and Goodwill Business Combinations Loss Per Common Share 3,333 0 Income Taxes Going Concern 10.7 Aside from its $ 10.7 9.6 46.0 Recently Issued Accounting Pronouncements — |
Revenue
Revenue | 6 Months Ended |
Jun. 30, 2024 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | 2. Revenue The Company recognizes its revenue based on when the title passes to the customer or when the service is completed and accepted by the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for shipped product or service provided. Sales and other taxes billed and collected from customers are excluded from revenue. The Company recognizes rental income associated with its REIT, net of amortization of favorable/unfavorable lease terms relative to market and includes rental abatements and contractual fixed increases attributable to operating leases, where collection has been considered probable, on a straight-line basis over the term of the related lease. The Company recognizes net investment income from its investment banking line of business as interest and management fees related to loans managed for third parties owed to the Company occurs. The Company generates revenue from its direct marketing line of business primarily through internet sales and recognizes revenue as items are shipped. As of June 30, 2024, the Company had no unsatisfied performance obligations for contracts with an original expected duration of greater than one year. Pursuant to Topic 606, the Company has applied the practical expedient with respect to disclosure of the deferral and future expected timing of revenue recognition for transaction price allocated to remaining performance obligations. The Company elected the practical expedient allowing it to not recognize as a contract asset the commission paid to its salesforce on the sale of its products as an incremental cost of obtaining a contract with a customer but rather recognize such commission as expense when incurred as the amortization period of the asset that the Company would have otherwise recognized is one year or less. Sales Commissions Sales commissions are expensed as incurred for contracts with an expected duration of one year or less. There were no sales commissions capitalized as of June 30, 2024 or June 30, 2023. Shipping and Handling Costs Costs incurred by the Company related to shipping and handling are included in cost of products sold. Amounts charged to customers relating to these costs are reflected as revenue. See Note 14 for disaggregated revenue information. |
Inventory
Inventory | 6 Months Ended |
Jun. 30, 2024 | |
Inventory Disclosure [Abstract] | |
Inventory | 3. Inventory Inventory consisted of the following as of: Schedule of Inventory June December 2024 2023 Finished Goods $ 2,592,000 $ 2,218,000 Work in Process 173,000 180,000 Raw Materials 837,000 439,000 Inventory Gross $ 3,602,000 $ 2,837,000 Less allowance for obsolescence (30,000 ) (18,000 ) Inventory Net $ 3,572,000 $ 2,819,000 |
Notes Receivable
Notes Receivable | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
Notes Receivable | 4. Notes Receivable Note 1 On May 14, 2021, DSS Pure Air, Inc. a subsidiary of the Company entered a convertible promissory note (“Note 1”) with Borrower 1, a company registered in the state of Texas. Note 1 has an aggregate principal balance up to $ 5,000,000 6.65 Note 1 contains an optional conversion clause that allows the Company to convert all, or a portion of all, into newly issued member units of Borrower 1 with the maximum principal amount equal to 18% of the total equity position of Borrower 1 at conversion 5,544,000 2,772,000 2,772,000 Note 2 On September 23, 2021, APB entered into refunding bond anticipatory note (“Note 2”) with Borrower 2, which operates as a conservation and reclamation district pursuant to Chapter 3891, Texas Special District Local Laws Code; Chapter 375, Texas Local Government Code; and Chapter 49, Texas Water Code. The District Note was in the sum of $ 3,500,000 5.59 3,910,000 Note 3 On October 25, 2021, APB entered into a loan agreement (“Note 3”) with Borrower 3, a company registered in the state of Utah. Note 3 has an initial aggregate principal balance up to $ 1,000,000 3,000,000 8.0 October 25, 2022 10 884,000 Note 4 On December 28, 2021, APB entered into a promissory note (“Note 4”) with Borrower 4, a company registered in the state of California. Note 4 has a principal balance of $ 700,000 12.0 December 28, 2022 May 31, 2023 50,000 58,000 253,000 Note 5 On January 24, 2022, APB and Borrower 5 entered into a promissory note (“Note 5”) in the principal sum of $ 100,000 6 January 2024 111,000 103,000 Note 6 On March 2, 2022, APB and Borrower 6, a corporation organized under the laws of the Republic of Korea entered into a promissory note (“Note 6”). Under the terms of Note 6, APB at its discretion, may lend up to the principal sum of $ 893,000 8 March 2024 470,000 446,000 Note 7 On May 9, 2022, DSS PureAir and Borrower 1 entered into a promissory note (“Note 7”) in the principal sum of $ 210,000 10 February 9, 2023 224,000 112,000 Note 8, related party On August 29, 2022, DSS Financial Management Inc and Borrower 8, a related party, entered into a promissory note (“Note 8”) in the principal sum of $ 100,000 8 August 29, 2025 101,000 100,000 76,000 24,000 24.9 Note 9, related party On May 8, 2023, DSS Financial Management Inc and Borrower 8 entered into a promissory note (“Note 9”) in the principal sum of $ 102,000 2 10.5 May 7, 2026 110,000 107,000 53,000 54,000 24.9 Note 10, related party On July 26, 2022, APB and Borrower 10 entered into a promissory note (“Note 10”) in the principal sum of $ 1,000,000 8 July 26, 2024 959,000 480,000 939,000 20,000 Note 11 On February 19, 2021, Impact BioMedical, Inc, entered into a promissory note with an individual. The Company loaned the principal sum of $ 206,000 6.5 August 19, 2022 The outstanding principal and interest as of June 30, 2024 and December 31, 2023, was approximately $ 202,000 203,000 135,000 67,000 Note 12 On June 27, 2023, DSS and Borrower 12 entered into a convertible promissory note (“Note 12”) in the principal sum of $ 1,400,000 300,000 10 September 1, 2024 Note 13 On March 31,2023, DSS Biohealth Security, Inc and Borrower 13 entered into a promissory note (“Note 13”) in the principal sum of $ 140,000 8.5 March 31, 2025 133,000 99,000 34,000 135,000 |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jun. 30, 2024 | |
Investments, All Other Investments [Abstract] | |
Financial Instruments | 5. Financial Instruments Cash, Cash Equivalents, Restricted Cash and Marketable Securities The following tables show the Company’s cash, cash equivalents, restricted cash, and marketable securities by significant investment category as of: Schedule of Cash and Marketable Securities by Significant Investment Category June 30, 2024 cost Unrealized Fair Cash and Marketable Cash $ 10,649,000 $ - $ 10,649,000 $ 10,649,000 $ - Level 1 Money Market Funds 70,000 - 70,000 70,000 - Marketable Securities 26,984,000 (17,426,000 ) $ 9,558,000 - 9,558,000 Total $ 37,703,000 $ (17,426,000 ) $ 20,277,000 $ 10,719,000 $ 9,558,000 December 31, 2023 Adjusted Cost Unrealized Gain/(Loss) Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 6,545,000 $ - $ 6,545,000 $ 6,545,000 $ - Level 1 Money Market Funds $ 70,000 - $ 70,000 70,000 - Marketable Securities $ 27,304,000 (17,325,000 ) $ 9,979,000 - 9,979,000 Total $ 33,919,000 $ (17,325,000 ) $ 16,594,000 $ 6,615,000 $ 9,979,000 The Company typically invests with the primary objective of minimizing the potential risk of principal loss. The Company’s investment policy generally requires securities to be investment grade and limits the amount of credit exposure to any one issuer. Fair values were determined for each individual security in the investment portfolio. |
Provision for Credit Losses
Provision for Credit Losses | 6 Months Ended |
Jun. 30, 2024 | |
Provision For Credit Losses | |
Provision for Credit Losses | 6. Provision for Credit Losses Effective January 1, 2022, the Company adopted amended accounting guidance “ ASU No.2016-13 – Credit Losses” Accounts receivable are stated at the amount owed by the customer. The Company maintains an allowance for credit losses for accounts receivable and unbilled receivables, based on expected credit losses resulting from the inability of our customers to make required payments. The allowance for credit losses is estimated based on historical experience, current economic conditions and the creditworthiness of customers. Receivables are charged to the allowance when determined to be no longer collectible. The Company regularly monitors and assesses its risk of not collecting amounts owed by customers and records its allowance for credit losses based on the results of this analysis. As of June 30, 2024 and December 31, 2023, we have reviewed the entire loan portfolio as well as all financial assets of the Company for the purpose of evaluating the loan portfolio and the loan balances, including a review of individual and collective portfolio loan quality, loan(s) performance, including past due status and covenant defaults, assessment of the ability of the borrower to repay the loan on the loan terms, whether any loans should be placed on nonaccrual or returned to accrual, any concentrations in any single borrower and/or industry that we might need to further manage, and if any specific or general loan loss reserve should be established for the entire loan portfolio or for any specific loan. We analyzed the loan loss reserve from three basis: general loan portfolio reserves; industry portfolio reserves, and specific loan loss reserves. For the six months ended June 30, 2024 and 2023, the Company recorded a Loan loss reserve of approximately $ 346,000 3,757,000 General Loan Portfolio Reserve - 182,000 194,000 Industry Portfolio Reserves - Specific Loan Reserves 884,000 2,884,000 1,045,000 479,000 135,000 211,000 |
Disposal of assets
Disposal of assets | 6 Months Ended |
Jun. 30, 2024 | |
Disposal Of Assets | |
Disposal of assets | 7. Disposal of assets On July 1 st 1,000 706,000 758,000 698,000 59,000 the agreement includes payment of 1% royalty, starting November 1, 2023, being defined as 1% of the gross sale price of all Seller’s new products made and sold outside of existing inventory on the schedule, for a period ending October 31, 2033 639,000 On July 1 st 100 259,000 617,000 On June 13, 2024, the Company sold its retail space in Lindon, Utah for the sales price, net of expenses, of approximately $5,758,000. The associated asset was previously classified as Held for sale in the amount of $5,593,000, resulting in a gain on the sale of approximately $165,000. |
Investments
Investments | 6 Months Ended |
Jun. 30, 2024 | |
Investments, All Other Investments [Abstract] | |
Investments | 8. Investments Alset International Limited related party The Company owns 127,179,291 4 2,912,000 3,269,000 356,000 1,819,000 West Park Capital, Inc. On December 30, 2020, the Company signed a binding letter of intent with West Park Capital, Inc (“West Park”) and TBD where the parties agreed to prepare a note and stock exchange agreement whereby DSS will assign the TBD Note to West Park and West Park shall issue to DSS a stock certificate reflecting 7.5 500,000 BMI Capital International LLC, related party On September 10, 2020, the Company’s wholly owned subsidiary DSS Securities, Inc. entered into membership interest purchase agreement with BMI Financial Group, Inc. a Delaware corporation (“BMIF”) and BMI Capital International LLC, a Texas limited liability company (“BMIC”) whereas DSS Securities, Inc. purchased 14.9 100,000 10 100,000 24.9 7,000 22,000 BMIC is a broker-dealer registered with the Securities and Exchange Commission, is a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”), and is a member of the Securities Investor Protection Corporation (“SIPC”). The Company’s chairman of the board and another independent board member of the Company also have ownership interest in BMIC. BioMed Technologies Asia Pacific Holdings Limited On December 19, 2020, Impact BioMedical, a wholly owned subsidiary of the Company, entered into a subscription agreement (the “Subscription Agreement”) with BioMed Technologies Asia Pacific Holdings Limited (“BioMed”), a limited liability company incorporated in the British Virgin Islands, pursuant to which the Company agreed to purchase 525 4.99 632,000 Under the terms of the Distribution Agreement, the Company will have exclusive rights to distribute the products within the United States, Canada, Singapore, Malaysia, and South Korea and non-exclusive distribution rights in all other countries. In exchange, the Company agreed to certain obligations, including mutual marketing obligations to promote sales of the products. This agreement is for ten years with a one year auto-renewal feature. |
Short-Term and Long-Term Debt
Short-Term and Long-Term Debt | 6 Months Ended |
Jun. 30, 2024 | |
Debt Disclosure [Abstract] | |
Short-Term and Long-Term Debt | 9. Short-Term and Long-Term Debt DSS, Inc Promissory Notes - 3,710,000 2,687,000 2,932,000 4.63 508,000 2,179,000 491,000 2,442,000 66,000 0 On August 1, 2021, AMRE Shelton, LLC., (“AMRE Shelton”) a subsidiary of AMRE, entered into a loan agreement (“Shelton Agreement”) with Patriot Bank, N.A. (“Patriot Bank”) in an amount up to $ 6,155,000 5,105,000 4.25 The interest will be adjusted commencing on July 1, 2026 and continuing for the next succeeding 5-year period shall be determined one month prior to the change date and shall be an interest rate equal to two hundred fifty (250) basis points above the Federal Home Loan Bank Boston 5-Year/25-Year amortizing advance rate, but in no event less than 4.25% for the term of 120 months 2,829,000 4.25 40,000 4,640,000 1,600,000 325,000 585,000 3 6,226,000 211,000 4,305,000 38,000 98,000 85,000 On October 13, 2021, LVAM entered into loan agreement with BMIC (“BMIC Loan”), a related party, whereas LVAM borrowed the principal amount of $ 3,000,000 October 12, 2022 461,000 547,000 On October 13, 2021, LVAM entered into a loan agreement with Lee Wilson Tsz Kin (“Wilson Loan”), a related party, whereas LVAM borrowed the principal amount of $ 3,000,000 October 12, 2022 1,064,000 2,131,000 On November 2, 2021, AMRE LifeCare entered into a loan agreement (“LifeCare Agreement”) with Pinnacle Bank, (“Pinnacle Bank”) in the amount of $ 40,300,000 62,000,000 32,100,000 12,100,000 1,500,000 15,901,000 1 11 41,570,000 The LifeCare Agreement calls for the principal amount of the in equal, consecutive monthly installments based upon a twenty-five (25) year amortization of the original principal amount of the LifeCare Agreement at an initial rate of interest equal to the interest rate determined in accordance as of July 29, 2022 provided, however, such rate of interest shall not be less than 4.28 9.6 41,331,000 43,776,000 1,954,000 1,484,000 On March 17, 2022, AMRE Winter Haven, LLC (“AMRE Winter Haven”) and Pinnacle Bank (“Pinnacle”) entered into a term loan (“Pinnacle Loan”) whereas Pinnacle lent to AMRE Winter Haven the principal sum of $ 2,990,000 , maturing on March 7, 2024 (later extended to July 7, 2024) to acquire a medical facility located in Winter Haven, Florida for a purchase price of $ 4,500,000 . The assets acquired are classified as investments, real estate on the consolidated balance sheet, and serves as collateral for the Pinnacle Loan. The purchase price has been allocated as $ 3,200,000 , $ 1,000,000 , and $ 222,000 for the facility, land and site and tenant improvements, respectively. Also included in the value of the property is $ 29,000 of intangible assets with an estimated useful life of approximately 5 years. The net book value of the assets acquired as of June 30, 2024 is approximately $ 4,380,000 . Payments are to be made in equal, consecutive installments based on a 25 -year amortization period with interest at 4.28 %. The first installment is due January 1, 2023. This AMRE note is currently due, and has an effective interest rate of 9.6 %The outstanding principal and interest, net of debt issuance costs of $ 17,000 , approximates $ 2,977,000 and is included in the current portion of long-term debt, net on the accompanying consolidated balance sheet at December 31, 2023. The outstanding principal and interest, approximates $ 2,992,000 and is included in current portion of long-term debt, net on the accompanying consolidated balance sheet at June 30, 2024. Interest expense equaled $ 148,000 and $ 113,000 for the six months ended June 30, 2024 and 2023, respectively. On March 30, 2023, Premier Packaging, a subsidiary of the Company entered into a loan and security agreement with Union Bank & Trust Company for the principal amount of $ 790,000 7.44 14,000 663,000 118,000 545,000 719,000 112,000 607,000 25,000 0 A summary of scheduled principal payments of long-term debt, not including revolving lines of credit, subsequent to June 30, 2024, are as follows: Schedule of Notes Payable and Long-term Debt Year Amount 2024 $ 49,130,000 2025 831,000 2026 902,000 2027 948,000 2028 996,000 Thereafter 3,352,000 |
Lease Liability
Lease Liability | 6 Months Ended |
Jun. 30, 2024 | |
Leases [Abstract] | |
Lease Liability | 10. Lease Liability The Company has operating leases predominantly for operating facilities. As of June 30, 2024, the remaining lease terms on our operating leases range from less than one twelve years Future minimum lease payments as of June 30, 2024 are as follows: Maturity of Lease Liability: Schedule of Future Minimum Lease Payments Totals 2024 $ 479,000 2025 860,000 2026 839,000 2027 808,000 2028 824,000 After 4,913,000 Total lease payments 8,723,000 Less: Imputed Interest (1,459,000 ) Present value of remaining lease payments $ 7,264,000 Current $ 661,000 Noncurrent $ 6,603,000 Weighted-average remaining lease term (years) 10.0 Weighted-average discount rate 4.1 % Total cash paid for leases during the six months ended June 30, 2024 and 2023 approximated $ 498,000 513,000 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 11. Commitments and Contingencies License Agreement In exchange, the Licensee shall pay the Company a royalty of 5.5% of net sales. Under the terms of the Equivir Agreement, the Company shall reimburse the Licensee for 50% of the development costs provided that the development costs shall not exceed $ 1,250,000 152,000 200,000 |
Stockholders_ Equity
Stockholders’ Equity | 6 Months Ended |
Jun. 30, 2024 | |
Equity [Abstract] | |
Stockholders’ Equity | 12. Stockholders’ Equity Equity transactions On April 10, 2023, the Company issued 1,247,078 268,000 On January 4, 2024 the Company effected a reverse stock split of 1 for 20 140,264,240 7,066,772 Stock-Based Compensation – The Company records stock-based payment expense related to options and warrants based on the grant date fair value in accordance with FASB ASC 718. Stock-based compensation includes expense charges for all stock-based awards to employees, directors, and consultants. Such awards include option grants, warrant grants, and restricted stock awards. During the six months ended June 30, 2024, there were none Impact BioMedical, Inc. Equity Transactions – On May 10, 2023, the Company, the Company’s Board of Directors approved an amendment to the Articles of Incorporation of the Company to increase the total number of shares of Common Stock to 4,000,000,000 shares with a par value of $0.001. Each share of Common Stock when issued, shall have one (1) vote on all matters presented to the stockholders. Our Amended and Restated Articles of Incorporation also authorized 100,000,000 shares of preferred stock, par value $0.001 per share. On May 11, 2023, the Company effected a forward split. As a result, there were 3,877,282,251 shares of our Common Stock and no shares of preferred stock issued and outstanding. Prior to the split, there were 125,073,621 shares of our Common Stock and no shares of preferred stock issued and outstanding. On October 31, 2023, the Company effected a reverse stock split of 1 for 55. Also on October 31, 2023, DSS BioHealth Securities, Inc., the Company’s largest shareholder converted 60,496,041 shares of Common Stock into 60,496,041 shares of Series A Convertible Preferred Shares, reducing its ownership of the Company’s Common Stock from approximately 88% to approximately 12%. As of June 30, 2024 and December 31, 2023, there were 10,000,000 shares of our Common Stock and 60,496,041 shares of preferred stock issued and outstanding On August 8, 2023 DSS, the Company’s largest shareholder, distributed to its shareholders of record on July 10, 2023 4 shares of Impact Bio’s stock for 1 share they owned. Each share of Impact BioMedical distributed as part of the distribution will not be eligible for resale until 180 days from the date Impact BioMedical’s initial public offering becomes effective under the Securities Act, subject to the discretion of the Company to lift the restriction sooner. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 6 Months Ended |
Jun. 30, 2024 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | 13. Supplemental Cash Flow Information The following table summarizes supplemental cash flows for the six months ended June 30, 2024 and 2023: Schedule of Supplemental Cash Flow Information 2024 2023 Cash paid for interest $ 501,000 $ 1,402,000 |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2024 | |
Segment Reporting [Abstract] | |
Segment Information | 14. Segment Information The Company’s nine businesses lines are organized, managed, and internally reported as five Approximate information concerning the Company’s operations by reportable segment for the three and six months ended June 30, 2024 and 2023 is as follows. The Company relies on intersegment cooperation and management does not represent that these segments, if operated independently, would report the results contained herein: Schedule of Operations by Reportable Segment Three Months Ended June 30, 2024 Product Packaging Commercial Lending Direct Marketing Biotechnology Securities Corporate Total Revenue $ 3,539,000 $ 44,000 $ 3,000 $ 1,000 $ 624,000 $ - $ 4,211,000 Cost of Revenue 3,598,000 (4,484,000 ) - 10,000 2,066,000 4,483,000 5,673,000 Depreciation and amortization 190,000 - 34,000 288,000 39,000 4,000 555,000 Interest expense 45,000 - - - 1,199,000 - 1,244,000 Interest income - (1,000 ) 36,000 3,000 156,000 1,000 195,000 Net income (loss) from continuing operations (894,000 ) 502,000 104,000 (669,000 ) (2,566,000 ) (1,431,000 ) (4,954,000 ) Capital expenditures 29,000 - - - - - 29,000 Identifiable assets 19,683,000 12,129,000 442,000 48,631,000 59,211,000 4,352,000 144,448,000 Assets held for sale - - - - 46,040,000 - 46,040,000 Three Months Ended June 30,2023 Product Packaging Commercial Lending Direct Marketing Biotechnology Securities Corporate Total Revenue $ 3,626,000 $ 197,000 $ 1,572,000 $ - $ 1,838,000 $ - $ 7,233,000 Cost of Revenue 2,421,000 - 516,000 2,000 1,820,000 73,000 4,832,000 Depreciation and amortization 193,000 - 43,000 289,000 782,000 7,000 1,314,000 Interest expense 47,000 - - - 91,000 - 138,000 Interest income - - 280,000 49,000 78,000 407,000 Net income (loss) from continuing operations (205,000 ) (1,213,000 ) (28,074,000 ) (3,934,000 ) (4,413,000 ) 116,000 (37,723,000 ) Capital expenditures 4,000 - (4,000 ) 12,000 7,000 - 19,000 Identifiable assets 23,080,000 41,324,000 7,159,000 49,952,000 71,610,000 9,619,000 202,744,000 Assets held for sale - - 2,004,000 - - - 2,004,000 Six Months Ended June 30, 2024 Product Packaging Commercial Lending Direct Marketing Biotechnology Securities Corporate Total Revenue $ 6,620,000 $ 146,000 $ 3,000 $ 2,000 $ 1,311,000 $ - $ 8,082,000 Cost of Revenue 6,365,000 (4,015,000 ) - 20,000 3,810,000 4,483,000 10,663,000 Depreciation and amortization 381,000 - 68,000 577,000 107,000 3,000 1,136,000 Interest expense 91,000 - - - 2,299,000 - 2,390,000 Interest income - - 72,000 9,000 219,000 2,000 302,000 Net income (loss) from continuing operations (1,367,000 ) (880,000 ) 34,000 (1,610,000 ) (4,915,000 ) (1,325,000 ) (10,063,000 ) Capital expenditures 29,000 - - - - - 29,000 Total Identifiable assets 19,683,000 12,129,000 442,000 48,631,000 59,211,000 4,352,000 144,448,000 Assets held for sale - - - - 46,040,000 - 46,040,000 Six Months Ended June 30,2023 Product Packaging Commercial Lending Direct Marketing Biotechnology Securities Corporate Total Revenue $ 9,661,000 $ 314,000 $ 5,566,000 $ - $ 3,523,000 $ - $ 19,064,000 Cost of revenue 7,081,000 - 1,806,000 63,000 4,340,000 75,000 13,365,000 Depreciation and amortization 381,000 - 89,000 586,000 1,526,000 65,000 2,647,000 Interest expense 86,000 - - - 302,000 - 388,000 Interest income - - 285,000 143,000 110,000 - 538,000 Net income (loss) from continuing operations 491,000 (1,777,000 ) (31,260,000 ) (4,782,000 ) (6,441,000 ) (2,588,000 ) (46,357,000 ) Capital expenditures 580,000 - - 17,000 35,000 (19,000 ) 613,000 Identifiable assets 23,080,000 41,324,000 7,159,000 49,952,000 71,610,000 9,619,000 202,744,000 Assets held for sale - - 2,004,000 - - - 2,004,000 The following tables disaggregate our business segment revenues by major source: Printed Products Revenue Information: Schedule of Disaggregation of Revenue Three months ended June 30, 2024 Packaging Printing and Fabrication $ 3,441,000 Commercial and Security Printing 87,000 Total Printed Products $ 3,528,000 Three months ended June 30, 2023 Packaging Printing and Fabrication $ 3,571,000 Commercial and Security Printing 55,000 Total Printed Products $ 3,626,000 Six months ended June 30, 2024 Packaging Printing and Fabrication $ 6,323,000 Commercial and Security Printing 278,000 Total Printed Products $ 6,601,000 Six months ended June 30, 2023 Packaging Printing and Fabrication $ 9,341,000 Commercial and Security Printing 320,000 Total Printed Products $ 9,661,000 Direct Marketing Three months ended June 30, 2024 Direct Marketing Internet Sales $ - Total Direct Marketing $ - Three months ended June 30, 2023 Direct Marketing Internet Sales $ 1,572,000 Total Direct Marketing $ 1,572,000 Six months ended June 30, 2024 Direct Marketing Internet Sales $ - Total Direct Marketing $ - Six months ended June 30, 2023 Direct Marketing Internet Sales $ 5,566,000 Total Direct Marketing $ 5,566,000 Rental Income Three months ended June 30, 2024 Rental income $ 438,000 Total Rental Income $ 438,000 Three months ended June 30, 2023 Rental income $ 1,543,000 Total Rental Income $ 1,543,000 Six months ended June 30, 2024 Rental income $ 838,000 Total Rental Income $ 838,000 Six months ended June 30, 2023 Rental income $ 3,228,000 Total Rental Income $ 3,228,000 Commission Income Three months ended June 30, 2024 Commission income $ 204,000 Total commission income $ 204,000 Three months ended June 30, 2023 Commission income $ 295,000 Total commission income $ 295,000 Six months ended June 30, 2024 Commission income $ 507,000 Total commission income $ 507,000 Six months ended June 30, 2023 Commission income $ 295,000 Total commission income $ 295,000 Net Investment Income Three months ended June 30, 2024 Net Investment Income $ 41,000 Total Investment Income $ 41,000 Three months ended June 30, 2023 Net Investment Income $ 197,000 Total Rental Income $ 197,000 Six months ended June 30, 2024 Net investment income $ 136,000 Total Management fee income $ 136,000 Six months ended June 30, 2023 Net Investment Income $ 314,000 Total Management fee income $ 314,000 |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2024 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 15. Related Party Transactions The Company owns 127,179,291 4 2,912,000 3,269,000 356,000 1,819,000 On September 10, 2020, the Company’s wholly owned subsidiary DSS Securities, Inc. entered into membership interest purchase agreement with BMI Financial Group, Inc. a Delaware corporation (“BMIF”) and BMI Capital International LLC, a Texas limited liability company (“BMIC”) whereas DSS Securities, Inc. purchased 14.9 100,000 10 100,000 24.9 7,000 22,000 On October 13, 2021, LVAM entered into loan agreement with BMIC (“BMIC Loan”), a related party, whereas LVAM borrowed the principal amount of $ 3,000,000 October 12, 2022 461,000 547,000 On October 13, 2021, LVAM entered into a loan agreement with Lee Wilson Tsz Kin (“Wilson Loan”), a related party, whereas LVAM borrowed the principal amount of $ 3,000,000 October 12, 2022 1,064,000 2,131,000 On August 29, 2022, DSS Financial Management Inc and Borrower 8, a related party, entered into a promissory note (“Note 8”) in the principal sum of $ 100,000 8 August 29, 2025 101,000 100,000 76,000 24,000 24.9 On May 8, 2023, DSS Financial Management Inc and Borrower 8 entered into a promissory note (“Note 9”) in the principal sum of $ 102,000 2 10.5 May 7, 2026 110,000 107,000 53,000 54,000 24.9 On July 26, 2022, APB and Borrower 10 entered into a promissory note (“Note 10”) in the principal sum of $ 1,000,000 8 July 26, 2024 959,000 480,000 939,000 20,000 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2024 | |
Subsequent Events [Abstract] | |
Subsequent Events | 16. Subsequent Events The Company has evaluated all subsequent events and transactions through August 13, 2024, the date that the condensed consolidated financial statements were available to be issued and noted no subsequent events requiring financial statement recognition or disclosure. |
Basis of Presentation and Sig_2
Basis of Presentation and Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation |
Deconsolidation of Sharing Services Global Corporation(“SHRG”) | Deconsolidation of Sharing Services Global Corporation(“SHRG”) 280 7 81 Upon Deconsolidation, we recognized a loss before income taxes of approximately $ 29,196,000 |
Use of Estimates | Use of Estimates |
Cash Equivalents | Cash Equivalents |
Accounts/Rents Receivable | Accounts/Rents Receivable At June 30, 2024, and December 31, 2023, the Company established a reserve for credit losses of approximately $ 2,500,000 2,494,000 |
Concentration of Credit Risk | Concentration of Credit Risk 24 39 As of June 30, 2023, two customers accounted for approximately 19 5 55 14 As of December 31, 2023, two customers accounted for approximately 20 11 39 30 For the six months ended of June 30, 2024 one vendor accounted for approximately 12 14 |
Notes receivable, unearned interest, and related recognition | Notes receivable, unearned interest, and related recognition |
Allowance For Loans And Lease Losses | Allowance For Loans And Lease Losses ASU No.2016-13 – Credit Losses” |
Investments | Investments |
Fair Value of Financial Instruments | Fair Value of Financial Instruments - ● Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets. ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The carrying amounts reported in the consolidated balance sheet of cash and cash equivalents, accounts receivable, prepaids, accounts payable and accrued expenses approximate fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities classify as a Level 1 fair value financial instrument. The fair value of notes receivable approximates their carrying value as the stated or discounted rates of the notes do not reflect recent market conditions. The fair value of revolving credit lines notes payable and long-term debt approximates their carrying value as the stated or discounted rates of the debt reflect recent market conditions. The fair value of investments where the fair value is not considered readily determinable, are carried at cost. |
Inventory | Inventory 30,000 18,000 |
Investments in real estate, net | Investments in real estate, net |
Assets held for sale | Assets held for sale 5,593,000 41,570,000 4,396,000 65,000 |
Intangible Assets | Intangible Assets 7,418,000 |
Goodwill | Goodwill 1,769,000 25,093,000 29,744,000 1,234,000 |
Impairment of Long-Lived Assets and Goodwill | Impairment of Long-Lived Assets and Goodwill |
Business Combinations | Business Combinations |
Loss Per Common Share | Loss Per Common Share 3,333 0 |
Income Taxes | Income Taxes |
Going Concern | Going Concern 10.7 Aside from its $ 10.7 9.6 46.0 Recently Issued Accounting Pronouncements — |
Inventory (Tables)
Inventory (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory | Inventory consisted of the following as of: Schedule of Inventory June December 2024 2023 Finished Goods $ 2,592,000 $ 2,218,000 Work in Process 173,000 180,000 Raw Materials 837,000 439,000 Inventory Gross $ 3,602,000 $ 2,837,000 Less allowance for obsolescence (30,000 ) (18,000 ) Inventory Net $ 3,572,000 $ 2,819,000 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Investments, All Other Investments [Abstract] | |
Schedule of Cash and Marketable Securities by Significant Investment Category | The following tables show the Company’s cash, cash equivalents, restricted cash, and marketable securities by significant investment category as of: Schedule of Cash and Marketable Securities by Significant Investment Category June 30, 2024 cost Unrealized Fair Cash and Marketable Cash $ 10,649,000 $ - $ 10,649,000 $ 10,649,000 $ - Level 1 Money Market Funds 70,000 - 70,000 70,000 - Marketable Securities 26,984,000 (17,426,000 ) $ 9,558,000 - 9,558,000 Total $ 37,703,000 $ (17,426,000 ) $ 20,277,000 $ 10,719,000 $ 9,558,000 December 31, 2023 Adjusted Cost Unrealized Gain/(Loss) Fair Value Cash and Cash Equivalents Marketable Securities Cash $ 6,545,000 $ - $ 6,545,000 $ 6,545,000 $ - Level 1 Money Market Funds $ 70,000 - $ 70,000 70,000 - Marketable Securities $ 27,304,000 (17,325,000 ) $ 9,979,000 - 9,979,000 Total $ 33,919,000 $ (17,325,000 ) $ 16,594,000 $ 6,615,000 $ 9,979,000 |
Short-Term and Long-Term Debt (
Short-Term and Long-Term Debt (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable and Long-term Debt | A summary of scheduled principal payments of long-term debt, not including revolving lines of credit, subsequent to June 30, 2024, are as follows: Schedule of Notes Payable and Long-term Debt Year Amount 2024 $ 49,130,000 2025 831,000 2026 902,000 2027 948,000 2028 996,000 Thereafter 3,352,000 |
Lease Liability (Tables)
Lease Liability (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Leases [Abstract] | |
Schedule of Future Minimum Lease Payments | Future minimum lease payments as of June 30, 2024 are as follows: Maturity of Lease Liability: Schedule of Future Minimum Lease Payments Totals 2024 $ 479,000 2025 860,000 2026 839,000 2027 808,000 2028 824,000 After 4,913,000 Total lease payments 8,723,000 Less: Imputed Interest (1,459,000 ) Present value of remaining lease payments $ 7,264,000 Current $ 661,000 Noncurrent $ 6,603,000 Weighted-average remaining lease term (years) 10.0 Weighted-average discount rate 4.1 % |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Supplemental Cash Flow Information | The following table summarizes supplemental cash flows for the six months ended June 30, 2024 and 2023: Schedule of Supplemental Cash Flow Information 2024 2023 Cash paid for interest $ 501,000 $ 1,402,000 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Segment Reporting [Abstract] | |
Schedule of Operations by Reportable Segment | Approximate information concerning the Company’s operations by reportable segment for the three and six months ended June 30, 2024 and 2023 is as follows. The Company relies on intersegment cooperation and management does not represent that these segments, if operated independently, would report the results contained herein: Schedule of Operations by Reportable Segment Three Months Ended June 30, 2024 Product Packaging Commercial Lending Direct Marketing Biotechnology Securities Corporate Total Revenue $ 3,539,000 $ 44,000 $ 3,000 $ 1,000 $ 624,000 $ - $ 4,211,000 Cost of Revenue 3,598,000 (4,484,000 ) - 10,000 2,066,000 4,483,000 5,673,000 Depreciation and amortization 190,000 - 34,000 288,000 39,000 4,000 555,000 Interest expense 45,000 - - - 1,199,000 - 1,244,000 Interest income - (1,000 ) 36,000 3,000 156,000 1,000 195,000 Net income (loss) from continuing operations (894,000 ) 502,000 104,000 (669,000 ) (2,566,000 ) (1,431,000 ) (4,954,000 ) Capital expenditures 29,000 - - - - - 29,000 Identifiable assets 19,683,000 12,129,000 442,000 48,631,000 59,211,000 4,352,000 144,448,000 Assets held for sale - - - - 46,040,000 - 46,040,000 Three Months Ended June 30,2023 Product Packaging Commercial Lending Direct Marketing Biotechnology Securities Corporate Total Revenue $ 3,626,000 $ 197,000 $ 1,572,000 $ - $ 1,838,000 $ - $ 7,233,000 Cost of Revenue 2,421,000 - 516,000 2,000 1,820,000 73,000 4,832,000 Depreciation and amortization 193,000 - 43,000 289,000 782,000 7,000 1,314,000 Interest expense 47,000 - - - 91,000 - 138,000 Interest income - - 280,000 49,000 78,000 407,000 Net income (loss) from continuing operations (205,000 ) (1,213,000 ) (28,074,000 ) (3,934,000 ) (4,413,000 ) 116,000 (37,723,000 ) Capital expenditures 4,000 - (4,000 ) 12,000 7,000 - 19,000 Identifiable assets 23,080,000 41,324,000 7,159,000 49,952,000 71,610,000 9,619,000 202,744,000 Assets held for sale - - 2,004,000 - - - 2,004,000 Six Months Ended June 30, 2024 Product Packaging Commercial Lending Direct Marketing Biotechnology Securities Corporate Total Revenue $ 6,620,000 $ 146,000 $ 3,000 $ 2,000 $ 1,311,000 $ - $ 8,082,000 Cost of Revenue 6,365,000 (4,015,000 ) - 20,000 3,810,000 4,483,000 10,663,000 Depreciation and amortization 381,000 - 68,000 577,000 107,000 3,000 1,136,000 Interest expense 91,000 - - - 2,299,000 - 2,390,000 Interest income - - 72,000 9,000 219,000 2,000 302,000 Net income (loss) from continuing operations (1,367,000 ) (880,000 ) 34,000 (1,610,000 ) (4,915,000 ) (1,325,000 ) (10,063,000 ) Capital expenditures 29,000 - - - - - 29,000 Total Identifiable assets 19,683,000 12,129,000 442,000 48,631,000 59,211,000 4,352,000 144,448,000 Assets held for sale - - - - 46,040,000 - 46,040,000 Six Months Ended June 30,2023 Product Packaging Commercial Lending Direct Marketing Biotechnology Securities Corporate Total Revenue $ 9,661,000 $ 314,000 $ 5,566,000 $ - $ 3,523,000 $ - $ 19,064,000 Cost of revenue 7,081,000 - 1,806,000 63,000 4,340,000 75,000 13,365,000 Depreciation and amortization 381,000 - 89,000 586,000 1,526,000 65,000 2,647,000 Interest expense 86,000 - - - 302,000 - 388,000 Interest income - - 285,000 143,000 110,000 - 538,000 Net income (loss) from continuing operations 491,000 (1,777,000 ) (31,260,000 ) (4,782,000 ) (6,441,000 ) (2,588,000 ) (46,357,000 ) Capital expenditures 580,000 - - 17,000 35,000 (19,000 ) 613,000 Identifiable assets 23,080,000 41,324,000 7,159,000 49,952,000 71,610,000 9,619,000 202,744,000 Assets held for sale - - 2,004,000 - - - 2,004,000 |
Schedule of Disaggregation of Revenue | The following tables disaggregate our business segment revenues by major source: Printed Products Revenue Information: Schedule of Disaggregation of Revenue Three months ended June 30, 2024 Packaging Printing and Fabrication $ 3,441,000 Commercial and Security Printing 87,000 Total Printed Products $ 3,528,000 Three months ended June 30, 2023 Packaging Printing and Fabrication $ 3,571,000 Commercial and Security Printing 55,000 Total Printed Products $ 3,626,000 Six months ended June 30, 2024 Packaging Printing and Fabrication $ 6,323,000 Commercial and Security Printing 278,000 Total Printed Products $ 6,601,000 Six months ended June 30, 2023 Packaging Printing and Fabrication $ 9,341,000 Commercial and Security Printing 320,000 Total Printed Products $ 9,661,000 Direct Marketing Three months ended June 30, 2024 Direct Marketing Internet Sales $ - Total Direct Marketing $ - Three months ended June 30, 2023 Direct Marketing Internet Sales $ 1,572,000 Total Direct Marketing $ 1,572,000 Six months ended June 30, 2024 Direct Marketing Internet Sales $ - Total Direct Marketing $ - Six months ended June 30, 2023 Direct Marketing Internet Sales $ 5,566,000 Total Direct Marketing $ 5,566,000 Rental Income Three months ended June 30, 2024 Rental income $ 438,000 Total Rental Income $ 438,000 Three months ended June 30, 2023 Rental income $ 1,543,000 Total Rental Income $ 1,543,000 Six months ended June 30, 2024 Rental income $ 838,000 Total Rental Income $ 838,000 Six months ended June 30, 2023 Rental income $ 3,228,000 Total Rental Income $ 3,228,000 Commission Income Three months ended June 30, 2024 Commission income $ 204,000 Total commission income $ 204,000 Three months ended June 30, 2023 Commission income $ 295,000 Total commission income $ 295,000 Six months ended June 30, 2024 Commission income $ 507,000 Total commission income $ 507,000 Six months ended June 30, 2023 Commission income $ 295,000 Total commission income $ 295,000 Net Investment Income Three months ended June 30, 2024 Net Investment Income $ 41,000 Total Investment Income $ 41,000 Three months ended June 30, 2023 Net Investment Income $ 197,000 Total Rental Income $ 197,000 Six months ended June 30, 2024 Net investment income $ 136,000 Total Management fee income $ 136,000 Six months ended June 30, 2023 Net Investment Income $ 314,000 Total Management fee income $ 314,000 |
Basis of Presentation and Sig_3
Basis of Presentation and Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
May 04, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Deconsolidation on loss before income taxes | $ 29,196,000 | |||||
Reserve for doubtful accounts | $ 2,500,000 | $ 2,500,000 | $ 2,494,000 | |||
Inventory adjustments | 30,000 | 30,000 | 18,000 | |||
Other assets | 65,000 | 65,000 | ||||
Asset impairment | 7,418,000 | |||||
Goodwill | 26,862,000 | 26,862,000 | 26,862,000 | |||
Cash | 10,700,000 | 10,700,000 | ||||
Cash and cash equivalents | 10,719,000 | 10,719,000 | 6,615,000 | |||
Proceeds from sale of marketable securities | 9,600,000 | |||||
Assets held for sale | $ 46,040,000 | 46,040,000 | 51,595,000 | |||
Share-Based Payment Arrangement, Option [Member] | ||||||
Potential dilutive instrument options | 0 | 3,333 | ||||
AMRE Life Care Portfolio LLC [Member] | ||||||
Real estate assets held for development and sale | $ 41,570,000 | 41,570,000 | ||||
AMRE Winter Haven LLC [Member] | ||||||
Real estate assets held for development and sale | 4,396,000 | 4,396,000 | ||||
Premier Packaging Corp [Member] | ||||||
Goodwill | 1,769,000 | 1,769,000 | ||||
Impact BioMedical, Inc. [Member] | ||||||
Goodwill | 25,093,000 | 25,093,000 | ||||
American Pacific Bancorp [Member] | ||||||
Goodwill | 29,744,000 | |||||
Sentinel Brokers Company Inc [Member] | ||||||
Goodwill | 1,234,000 | |||||
UTAH | ||||||
Real estate assets held for development and sale | 5,593,000 | 5,593,000 | ||||
Premier Subsidiary [Member] | ||||||
Inventory adjustments | $ 30,000 | $ 30,000 | $ 18,000 | |||
Customer One [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||||
Concentration risk, percentage | 24% | 19% | 20% | |||
Customer One [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||||||
Concentration risk, percentage | 39% | 55% | 39% | |||
Customer Two [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||||
Concentration risk, percentage | 5% | 11% | ||||
Customer Two [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||||||
Concentration risk, percentage | 14% | 30% | ||||
Vendor One [Member] | Cost of Goods and Service, Product and Service Benchmark [Member] | Customer Concentration Risk [Member] | ||||||
Concentration risk, percentage | 12% | 14% | ||||
Sharing Services Global Corp [Member] | ||||||
Number of shares issued | 280,000,000 | |||||
Ownership interest percentage | 7% | |||||
Percentage of issued and outstanding | 81% |
Schedule of Inventory (Details)
Schedule of Inventory (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Inventory Disclosure [Abstract] | ||
Finished Goods | $ 2,592,000 | $ 2,218,000 |
Work in Process | 173,000 | 180,000 |
Raw Materials | 837,000 | 439,000 |
Inventory Gross | 3,602,000 | 2,837,000 |
Less allowance for obsolescence | (30,000) | (18,000) |
Inventory Net | $ 3,572,000 | $ 2,819,000 |
Notes Receivable (Details Narra
Notes Receivable (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | |||||||||||||||||
Jun. 27, 2023 | May 08, 2023 | Mar. 31, 2023 | Dec. 29, 2022 | Aug. 29, 2022 | Jul. 26, 2022 | May 09, 2022 | Mar. 02, 2022 | Jan. 24, 2022 | Dec. 28, 2021 | Oct. 25, 2021 | May 14, 2021 | Feb. 19, 2021 | Jun. 30, 2024 | Dec. 31, 2023 | Mar. 31, 2024 | Nov. 27, 2023 | Dec. 31, 2022 | Sep. 23, 2021 | |
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Notes receivable current | $ 3,907,000 | $ 8,772,000 | |||||||||||||||||
Long term portion of notes receivable | 117,000 | 111,000 | |||||||||||||||||
Long term debt current | 49,130,000 | 47,776,000 | |||||||||||||||||
Note 1 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 5,000,000 | ||||||||||||||||||
Debt instrument interest rate | 6.65% | ||||||||||||||||||
Debt conversion description | Note 1 contains an optional conversion clause that allows the Company to convert all, or a portion of all, into newly issued member units of Borrower 1 with the maximum principal amount equal to 18% of the total equity position of Borrower 1 at conversion | ||||||||||||||||||
Notes receivable current | 5,544,000 | 5,544,000 | |||||||||||||||||
Reserve amount | 2,772,000 | 2,772,000 | |||||||||||||||||
Note 2 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 3,500,000 | ||||||||||||||||||
Debt instrument interest rate | 5.59% | ||||||||||||||||||
Notes receivable current | 3,910,000 | ||||||||||||||||||
Note 3 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument interest rate | 8% | ||||||||||||||||||
Notes receivable current | $ 884,000 | ||||||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 3,000,000 | ||||||||||||||||||
Debt instrument maturity date | Oct. 25, 2022 | ||||||||||||||||||
Effective rate percentage | 10% | ||||||||||||||||||
Note 3 [Member] | Maximum [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 1,000,000 | ||||||||||||||||||
Note 4 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 700,000 | ||||||||||||||||||
Debt instrument interest rate | 12% | ||||||||||||||||||
Notes receivable current | 58,000 | 253,000 | $ 50,000 | ||||||||||||||||
Debt instrument maturity date | Dec. 28, 2022 | ||||||||||||||||||
Extended maturity date | May 31, 2023 | ||||||||||||||||||
Note 5 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 100,000 | ||||||||||||||||||
Debt instrument interest rate | 6% | ||||||||||||||||||
Debt instrument, face amount | January 2024 | ||||||||||||||||||
Long term portion of notes receivable | 111,000 | 103,000 | |||||||||||||||||
Note 6 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 893,000 | ||||||||||||||||||
Debt instrument interest rate | 8% | ||||||||||||||||||
Debt instrument, face amount | March 2024 | ||||||||||||||||||
Notes and loans receivable gross current | 470,000 | 446,000 | |||||||||||||||||
Note 7 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 210,000 | ||||||||||||||||||
Debt instrument interest rate | 10% | ||||||||||||||||||
Notes receivable current | 224,000 | ||||||||||||||||||
Debt instrument maturity date | Feb. 09, 2023 | ||||||||||||||||||
Notes receivable current reserved | 112,000 | ||||||||||||||||||
Note 8 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 100,000 | ||||||||||||||||||
Debt instrument interest rate | 8% | ||||||||||||||||||
Notes receivable current | 76,000 | ||||||||||||||||||
Debt instrument maturity date | Aug. 29, 2025 | ||||||||||||||||||
Long term portion of notes receivable | 24,000 | ||||||||||||||||||
Notes and loans receivable gross current | $ 101,000 | 100,000 | |||||||||||||||||
Note 8 [Member] | DSS Financial Management Inc [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Ownership percentage | 24.90% | ||||||||||||||||||
Note 9 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 102,000 | ||||||||||||||||||
Debt instrument interest rate | 2% | 24.90% | |||||||||||||||||
Notes receivable current | $ 54,000 | ||||||||||||||||||
Debt instrument maturity date | May 07, 2026 | ||||||||||||||||||
Effective rate percentage | 10.50% | 10.50% | |||||||||||||||||
Notes and loans receivable gross current | $ 110,000 | $ 107,000 | |||||||||||||||||
Long term debt current | 53,000 | ||||||||||||||||||
Long term debt | $ 54,000 | ||||||||||||||||||
Note 9 [Member] | DSS Financial Management Inc [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Ownership percentage | 24.90% | ||||||||||||||||||
Note 10 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 1,000,000 | $ 959,000 | |||||||||||||||||
Debt instrument interest rate | 8% | ||||||||||||||||||
Notes receivable current | $ 480,000 | ||||||||||||||||||
Debt instrument maturity date | Jul. 26, 2024 | ||||||||||||||||||
Notes and loans receivable gross current | 959,000 | 939,000 | |||||||||||||||||
Unamortized origination fees | 480,000 | ||||||||||||||||||
Unamortized origination fees | 20,000 | ||||||||||||||||||
Note 11 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 206,000 | 202,000 | $ 203,000 | ||||||||||||||||
Debt instrument interest rate | 6.50% | ||||||||||||||||||
Debt instrument maturity date | Aug. 19, 2022 | ||||||||||||||||||
Notes and loans receivable gross current | 135,000 | ||||||||||||||||||
Notes and loans receivable gross current | $ 67,000 | ||||||||||||||||||
Note 12 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 1,400,000 | ||||||||||||||||||
Debt instrument interest rate | 10% | ||||||||||||||||||
Debt instrument maturity date | Sep. 01, 2024 | ||||||||||||||||||
Debt instrument, unamortized discount | $ 300,000 | ||||||||||||||||||
Note 13 [Member] | |||||||||||||||||||
Financing Receivable, Modified [Line Items] | |||||||||||||||||||
Debt instrument face amount | $ 140,000 | ||||||||||||||||||
Debt instrument interest rate | 8.50% | 8.50% | |||||||||||||||||
Debt instrument maturity date | Mar. 31, 2025 | ||||||||||||||||||
Notes and loans receivable gross current | $ 135,000 | $ 133,000 | |||||||||||||||||
Long term debt current | 99,000 | ||||||||||||||||||
Long term debt | $ 34,000 |
Schedule of Cash and Marketable
Schedule of Cash and Marketable Securities by Significant Investment Category (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Cash and Cash Equivalents [Line Items] | ||
Cost | $ 37,703,000 | $ 33,919,000 |
Unrealized Gain/(Loss) | (17,426,000) | (17,325,000) |
Fair Value | 20,277,000 | 16,594,000 |
Cash and Cash Equivalents | 10,719,000 | 6,615,000 |
Current marketable securities | 9,558,000 | 9,979,000 |
Cash [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Cost | 10,649,000 | 6,545,000 |
Unrealized Gain/(Loss) | ||
Fair Value | 10,649,000 | 6,545,000 |
Cash and Cash Equivalents | 10,649,000 | 6,545,000 |
Current marketable securities | ||
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Cost | 70,000 | 70,000 |
Unrealized Gain/(Loss) | ||
Fair Value | 70,000 | 70,000 |
Cash and Cash Equivalents | 70,000 | 70,000 |
Current marketable securities | ||
Marketable Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Cost | 26,984,000 | 27,304,000 |
Unrealized Gain/(Loss) | (17,426,000) | (17,325,000) |
Fair Value | 9,558,000 | 9,979,000 |
Cash and Cash Equivalents | ||
Current marketable securities | $ 9,558,000 | $ 9,979,000 |
Provision for Credit Losses (De
Provision for Credit Losses (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | Mar. 31, 2024 | |
General Loan Portfolio Reserve [Member] | American Pacific Bancorp [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Portfolio reserve | $ 182,000 | $ 194,000 | ||
Specific Loan Reserves [Member] | Borrower 3 [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Current nonaccrual loan balance | 884,000 | 884,000 | ||
Specific Loan Reserves [Member] | Borrower One [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Outstanding principal and interest | 2,884,000 | 2,884,000 | ||
Specific Loan Reserves [Member] | Borrower Twelve [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Outstanding principal and interest | 1,045,000 | $ 1,045,000 | ||
Specific Loan Reserves [Member] | Borrower Ten [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Outstanding principal and interest | $ 479,000 | |||
Specific Loan Reserves [Member] | Borrower 13 [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Outstanding principal and interest | 135,000 | |||
Specific Loan Reserves [Member] | Borrower 8 [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Outstanding principal and interest | $ 211,000 | |||
Loan [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Portfolio reserve | $ 346,000 | $ 3,757,000 |
Disposal of assets (Details Nar
Disposal of assets (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jul. 01, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net loss | $ (4,683,000) | $ (37,923,000) | $ (8,754,000) | $ (45,959,000) | |
HWH World Inc [Member] | |||||
Equity percentage | 100% | ||||
Sharing Services Global Corporation [Member] | Amended Agreement [Member] | |||||
Purchase price to be paid | $ 758,000 | ||||
Proceeds from sale of inventory | 698,000 | ||||
Liabilities assumed | 59,000 | ||||
Agreement description | the agreement includes payment of 1% royalty, starting November 1, 2023, being defined as 1% of the gross sale price of all Seller’s new products made and sold outside of existing inventory on the schedule, for a period ending October 31, 2033 | ||||
Net loss | $ 639,000 | ||||
HWH World Inc [Member] | |||||
Net loss | 617,000 | ||||
Purchase price consideration | $ 259,000 | ||||
HWH World Inc [Member] | Sharing Services Global Corporation [Member] | |||||
Sale of stock, number of shares issued in transaction | 1,000 | ||||
Sale of stock, consideration received per transaction | $ 706,000 |
Investments (Details Narrative)
Investments (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Dec. 30, 2020 | Dec. 19, 2020 | Sep. 10, 2020 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Unrealized gain loss on investments | $ (17,426,000) | $ (17,325,000) | ||||||
Net loss | $ (4,683,000) | $ (37,923,000) | (8,754,000) | $ (45,959,000) | ||||
BMI Capital International LLC [Member] | ||||||||
Issuance of common stock, net of expenses | $ 100,000 | |||||||
Net loss | $ 7,000 | 22,000 | ||||||
DSS Securities, Inc. [Member] | ||||||||
Equity method investment ownership percentage | 14.90% | |||||||
BMI Capital International LLC [Member] | ||||||||
Equity method investment ownership percentage | 24.90% | |||||||
BioMed Technologies Asia Pacific Holdings Limited [Member] | ||||||||
Equity method investment ownership percentage | 4.99% | |||||||
Issuance of common stock, net of expenses | $ 632,000 | |||||||
Issuance of common stock, net of expenses, shares | 525 | |||||||
Alset International Limited [Member] | ||||||||
Owners shares | 127,179,291 | 127,179,291 | ||||||
Outstanding share percentage | 4% | |||||||
Marketable securities | $ 2,912,000 | $ 2,912,000 | 3,269,000 | |||||
Unrealized gain loss on investments | 356,000 | $ 1,819,000 | ||||||
West Park Capital, Inc [Member] | ||||||||
Debt instrument convertible threshold percentage of stock price trigger | 7.50% | |||||||
Investments | $ 500,000 | $ 500,000 | $ 500,000 | |||||
DSS Securities, Inc. [Member] | ||||||||
Issuance of common stock, net of expenses | $ 100,000 | |||||||
Outstanding membership interest | 10% |
Schedule of Notes Payable and L
Schedule of Notes Payable and Long-term Debt (Details) | Jun. 30, 2024 USD ($) |
Debt Disclosure [Abstract] | |
2024 | $ 49,130,000 |
2025 | 831,000 |
2026 | 902,000 |
2027 | 948,000 |
2028 | 996,000 |
Thereafter | $ 3,352,000 |
Short-Term and Long-Term Debt_2
Short-Term and Long-Term Debt (Details Narrative) | 3 Months Ended | 6 Months Ended | |||||||||||
Mar. 30, 2023 USD ($) | Mar. 17, 2022 USD ($) | Nov. 02, 2021 USD ($) | Oct. 13, 2021 USD ($) | Aug. 01, 2021 USD ($) ft² | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) | Jan. 01, 2023 | Jul. 29, 2022 | May 20, 2021 USD ($) | |
Debt Instrument [Line Items] | |||||||||||||
Long term debt current | $ 49,130,000 | $ 49,130,000 | $ 47,776,000 | ||||||||||
Interest expense | 142,000 | $ 138,000 | 190,000 | $ 388,000 | |||||||||
Payments to acquire assets | 29,000 | 496,000 | |||||||||||
Net book value of assets | 6,054,000 | 6,054,000 | 6,417,000 | ||||||||||
Pinnacle Loan [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, face amount | $ 2,990,000 | 2,992,000 | 2,992,000 | 17,000 | |||||||||
Principal interest percentage | 4.28% | ||||||||||||
Interest expense | 148,000 | 113,000 | |||||||||||
Debt effective interest rate percentage | 9.60% | ||||||||||||
Payments to intangible assets | $ 29,000 | ||||||||||||
Estimated useful life | 5 years | ||||||||||||
Net book value of assets | 4,380,000 | 4,380,000 | |||||||||||
Deferred finance costs net | 2,977,000 | ||||||||||||
Debt instrument maturity date | Mar. 07, 2024 | ||||||||||||
Purchase price | $ 4,500,000 | ||||||||||||
Debt Instrument, Term | 25 years | ||||||||||||
Facility [Member] | Pinnacle Loan [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | $ 3,200,000 | ||||||||||||
Land [Member] | Pinnacle Loan [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | 1,000,000 | ||||||||||||
Site and Tenant Improvements [Member] | Pinnacle Loan [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | $ 222,000 | ||||||||||||
BMIC Loan [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, face amount | $ 3,000,000 | 461,000 | 461,000 | 547,000 | |||||||||
Debt instrument maturity date | Oct. 12, 2022 | ||||||||||||
Wilson Loan [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, face amount | $ 3,000,000 | 1,064,000 | 1,064,000 | 2,131,000 | |||||||||
Debt instrument maturity date | Oct. 12, 2022 | ||||||||||||
Security Agreement [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, face amount | $ 790,000 | 663,000 | 663,000 | 719,000 | |||||||||
Long term debt current | 118,000 | 118,000 | 112,000 | ||||||||||
Long term debt | 545,000 | 545,000 | 607,000 | ||||||||||
Interest expense | 25,000 | 0 | |||||||||||
Interest expense debt | $ 14,000 | ||||||||||||
Premier Packaging Bank Of America NA [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt financing amount | $ 3,710,000 | ||||||||||||
Debt instrument, face amount | 2,687,000 | 2,687,000 | 2,932,000 | ||||||||||
Principal interest percentage | 4.63% | ||||||||||||
Long term debt current | 508,000 | 508,000 | 491,000 | ||||||||||
Long term debt | 2,179,000 | 2,179,000 | 2,442,000 | ||||||||||
Interest expense | 66,000 | 0 | |||||||||||
AMRE Shelton LLC [Member] | Loan Agreement [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, face amount | $ 6,155,000 | ||||||||||||
Principal interest percentage | 4.25% | ||||||||||||
Long term debt current | $ 5,105,000 | 211,000 | 211,000 | ||||||||||
Long term debt | $ 4,305,000 | 4,305,000 | |||||||||||
Interest expense | $ 98,000 | 85,000 | |||||||||||
Debt instrument description | The interest will be adjusted commencing on July 1, 2026 and continuing for the next succeeding 5-year period shall be determined one month prior to the change date and shall be an interest rate equal to two hundred fifty (250) basis points above the Federal Home Loan Bank Boston 5-Year/25-Year amortizing advance rate, but in no event less than 4.25% for the term of 120 months | ||||||||||||
Debt instrument periodic payment | $ 2,829,000 | ||||||||||||
Debt effective interest rate percentage | 4.25% | 4.25% | |||||||||||
Area of land | ft² | 40,000 | ||||||||||||
Payments to intangible assets | $ 585,000 | ||||||||||||
Net book value of assets | $ 6,226,000 | $ 6,226,000 | |||||||||||
Deferred finance costs net | 38,000 | 38,000 | |||||||||||
AMRE Shelton LLC [Member] | Loan Agreement [Member] | Facility [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | 4,640,000 | ||||||||||||
AMRE Shelton LLC [Member] | Loan Agreement [Member] | Land [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | 1,600,000 | ||||||||||||
AMRE Shelton LLC [Member] | Loan Agreement [Member] | Tenant Improvements [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | $ 325,000 | ||||||||||||
AMRE Shelton LLC [Member] | Loan Agreement [Member] | Other Intangible Assets [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Estimated useful life | 3 years | ||||||||||||
Pinnacle Bank [Member] | LifeCare Agreement [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, face amount | $ 40,300,000 | $ 43,776,000 | 43,776,000 | $ 41,331,000 | |||||||||
Interest expense | $ 1,954,000 | $ 1,484,000 | |||||||||||
Debt instrument description | The LifeCare Agreement calls for the principal amount of the in equal, consecutive monthly installments based upon a twenty-five (25) year amortization of the original principal amount of the LifeCare Agreement at an initial rate of interest equal to the interest rate determined in accordance as of July 29, 2022 provided, however, such rate of interest shall not be less than 4.28%, with the first such installment being payable on August 29, 2022 and subsequent installments being payable on the first day of each succeeding month thereafter until the maturity date, at which time any outstanding principal and interest is due in full | ||||||||||||
Debt effective interest rate percentage | 9.60% | 9.60% | 4.28% | ||||||||||
Payments to intangible assets | $ 15,901,000 | ||||||||||||
Net book value of assets | $ 41,570,000 | $ 41,570,000 | |||||||||||
Purchase price | $ 62,000,000 | ||||||||||||
Pinnacle Bank [Member] | LifeCare Agreement [Member] | Minimum [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Estimated useful life | 1 year | ||||||||||||
Pinnacle Bank [Member] | LifeCare Agreement [Member] | Maximum [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Estimated useful life | 11 years | ||||||||||||
Pinnacle Bank [Member] | LifeCare Agreement [Member] | Facility [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | $ 32,100,000 | ||||||||||||
Pinnacle Bank [Member] | LifeCare Agreement [Member] | Land [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | 12,100,000 | ||||||||||||
Pinnacle Bank [Member] | LifeCare Agreement [Member] | Site Improvements [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Payments to acquire assets | $ 1,500,000 | ||||||||||||
Union Bank And Trust Company [Member] | Security Agreement [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Principal interest percentage | 7.44% |
Schedule of Future Minimum Leas
Schedule of Future Minimum Lease Payments (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Leases [Abstract] | ||
2024 | $ 479,000 | |
2025 | 860,000 | |
2026 | 839,000 | |
2027 | 808,000 | |
2028 | 824,000 | |
After | 4,913,000 | |
Total lease payments | 8,723,000 | |
Less: Imputed Interest | (1,459,000) | |
Present value of remaining lease payments | 7,264,000 | |
Current | 661,000 | $ 686,000 |
Noncurrent | $ 6,603,000 | $ 6,917,000 |
Weighted-average remaining lease term (years) | 10 years | |
Weighted-average discount rate | 4.10% |
Lease Liability (Details Narrat
Lease Liability (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash paid for leases | $ 498,000 | $ 513,000 |
Minimum [Member] | ||
Remaining lease term | 1 year | |
Maximum [Member] | ||
Remaining lease term | 12 years |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - License Agreement [Member] - USD ($) | Mar. 19, 2022 | Mar. 19, 2022 | Jun. 30, 2024 | Dec. 31, 2023 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Development costs | $ 1,250,000 | |||
Equivir License [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Accrued expense | $ 152,000 | $ 200,000 | ||
Bio Medical [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Loss contingency allegations | In exchange, the Licensee shall pay the Company a royalty of 5.5% of net sales. Under the terms of the Equivir Agreement, the Company shall reimburse the Licensee for 50% of the development costs provided that the development costs shall not exceed $1,250,000. As of June 30, 2024 and December 31, 2023, $152,000 and $200,000, respectively, has been accrued for in relation to the Equivir License as development of the Equivir technology |
Stockholders_ Equity (Details N
Stockholders’ Equity (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | |||
Jan. 04, 2024 | May 10, 2023 | Apr. 10, 2023 | Jun. 30, 2024 | Dec. 31, 2023 | |
Class of Stock [Line Items] | |||||
Stockholders' equity, reverse stock split | 1 for 20 | ||||
Common stock shares issued | 7,066,772 | 7,066,772 | |||
Common stock shares outstanding | 7,066,772 | 7,066,772 | |||
Share based compensation expense | $ 0 | ||||
Stockholders' Equity Note, Stock Split | On May 10, 2023, the Company, the Company’s Board of Directors approved an amendment to the Articles of Incorporation of the Company to increase the total number of shares of Common Stock to 4,000,000,000 shares with a par value of $0.001. Each share of Common Stock when issued, shall have one (1) vote on all matters presented to the stockholders. Our Amended and Restated Articles of Incorporation also authorized 100,000,000 shares of preferred stock, par value $0.001 per share. On May 11, 2023, the Company effected a forward split. As a result, there were 3,877,282,251 shares of our Common Stock and no shares of preferred stock issued and outstanding. Prior to the split, there were 125,073,621 shares of our Common Stock and no shares of preferred stock issued and outstanding. On October 31, 2023, the Company effected a reverse stock split of 1 for 55. Also on October 31, 2023, DSS BioHealth Securities, Inc., the Company’s largest shareholder converted 60,496,041 shares of Common Stock into 60,496,041 shares of Series A Convertible Preferred Shares, reducing its ownership of the Company’s Common Stock from approximately 88% to approximately 12%. As of June 30, 2024 and December 31, 2023, there were 10,000,000 shares of our Common Stock and 60,496,041 shares of preferred stock issued and outstanding | ||||
Convertible Common Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Common stock shares issued | 140,264,240 | ||||
Common stock shares outstanding | 140,264,240 | ||||
Conversion of stock, shares converted | 7,066,772 | ||||
Frank Heuszel [Member] | Employment Agreement [Member] | |||||
Class of Stock [Line Items] | |||||
Number of shares of common stock | 1,247,078 | ||||
Number of shares of common stock, values | $ 268,000 |
Schedule of Supplemental Cash F
Schedule of Supplemental Cash Flow Information (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Supplemental Cash Flow Elements [Abstract] | ||
Cash paid for interest | $ 501,000 | $ 1,402,000 |
Schedule of Operations by Repor
Schedule of Operations by Reportable Segment (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 4,211,000 | $ 7,233,000 | $ 8,082,000 | $ 19,064,000 |
Depreciation and amortization | 1,136,000 | 2,647,000 | ||
Interest expense | 142,000 | 138,000 | 190,000 | 388,000 |
Interest income | 195,000 | 407,000 | 302,000 | 538,000 |
Net income (loss) from continuing operations | (4,954,000) | (37,723,000) | (10,063,000) | (46,357,000) |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 4,211,000 | 7,233,000 | 8,082,000 | 19,064,000 |
Cost of revenue | 5,673,000 | 4,832,000 | 10,663,000 | 13,365,000 |
Depreciation and amortization | 555,000 | 1,314,000 | 1,136,000 | 2,647,000 |
Interest expense | 1,244,000 | 138,000 | 2,390,000 | 388,000 |
Interest income | 195,000 | 407,000 | 302,000 | 538,000 |
Net income (loss) from continuing operations | (4,954,000) | (37,723,000) | (10,063,000) | (46,357,000) |
Capital expenditures | 29,000 | 19,000 | 29,000 | 613,000 |
Identifiable assets | 144,448,000 | 202,744,000 | 144,448,000 | 202,744,000 |
Assets held for sale | 46,040,000 | 2,004,000 | 46,040,000 | 2,004,000 |
Operating Segments [Member] | Product Packaging [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 3,539,000 | 3,626,000 | 6,620,000 | 9,661,000 |
Cost of revenue | 3,598,000 | 2,421,000 | 6,365,000 | 7,081,000 |
Depreciation and amortization | 190,000 | 193,000 | 381,000 | 381,000 |
Interest expense | 45,000 | 47,000 | 91,000 | 86,000 |
Interest income | ||||
Net income (loss) from continuing operations | (894,000) | (205,000) | (1,367,000) | 491,000 |
Capital expenditures | 29,000 | 4,000 | 29,000 | 580,000 |
Identifiable assets | 19,683,000 | 23,080,000 | 19,683,000 | 23,080,000 |
Assets held for sale | ||||
Operating Segments [Member] | Commercial Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 44,000 | 197,000 | 146,000 | 314,000 |
Cost of revenue | (4,484,000) | (4,015,000) | ||
Depreciation and amortization | ||||
Interest expense | ||||
Interest income | (1,000) | |||
Net income (loss) from continuing operations | 502,000 | (1,213,000) | (880,000) | (1,777,000) |
Capital expenditures | ||||
Identifiable assets | 12,129,000 | 41,324,000 | 12,129,000 | 41,324,000 |
Assets held for sale | ||||
Operating Segments [Member] | Direct Marketing Online Sales [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 3,000 | 1,572,000 | 3,000 | 5,566,000 |
Cost of revenue | 516,000 | 1,806,000 | ||
Depreciation and amortization | 34,000 | 43,000 | 68,000 | 89,000 |
Interest expense | ||||
Interest income | 36,000 | 280,000 | 72,000 | 285,000 |
Net income (loss) from continuing operations | 104,000 | (28,074,000) | 34,000 | (31,260,000) |
Capital expenditures | (4,000) | |||
Identifiable assets | 442,000 | 7,159,000 | 442,000 | 7,159,000 |
Assets held for sale | 2,004,000 | 2,004,000 | ||
Operating Segments [Member] | Biotechnology [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,000 | 2,000 | ||
Cost of revenue | 10,000 | 2,000 | 20,000 | 63,000 |
Depreciation and amortization | 288,000 | 289,000 | 577,000 | 586,000 |
Interest expense | ||||
Interest income | 3,000 | 49,000 | 9,000 | 143,000 |
Net income (loss) from continuing operations | (669,000) | (3,934,000) | (1,610,000) | (4,782,000) |
Capital expenditures | 12,000 | 17,000 | ||
Identifiable assets | 48,631,000 | 49,952,000 | 48,631,000 | 49,952,000 |
Assets held for sale | ||||
Operating Segments [Member] | Securities [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 624,000 | 1,838,000 | 1,311,000 | 3,523,000 |
Cost of revenue | 2,066,000 | 1,820,000 | 3,810,000 | 4,340,000 |
Depreciation and amortization | 39,000 | 782,000 | 107,000 | 1,526,000 |
Interest expense | 1,199,000 | 91,000 | 2,299,000 | 302,000 |
Interest income | 156,000 | 78,000 | 219,000 | 110,000 |
Net income (loss) from continuing operations | (2,566,000) | (4,413,000) | (4,915,000) | (6,441,000) |
Capital expenditures | 7,000 | 35,000 | ||
Identifiable assets | 59,211,000 | 71,610,000 | 59,211,000 | 71,610,000 |
Assets held for sale | 46,040,000 | 46,040,000 | ||
Operating Segments [Member] | Corporate Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | ||||
Cost of revenue | 4,483,000 | 73,000 | 4,483,000 | 75,000 |
Depreciation and amortization | 4,000 | 7,000 | 3,000 | 65,000 |
Interest expense | ||||
Interest income | 1,000 | 2,000 | ||
Net income (loss) from continuing operations | (1,431,000) | 116,000 | (1,325,000) | (2,588,000) |
Capital expenditures | (19,000) | |||
Identifiable assets | 4,352,000 | 9,619,000 | 4,352,000 | 9,619,000 |
Assets held for sale |
Schedule of Disaggregation of R
Schedule of Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 4,211,000 | $ 7,233,000 | $ 8,082,000 | $ 19,064,000 |
Printed Products [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 3,528,000 | 3,626,000 | 6,601,000 | 9,661,000 |
Direct Marketing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,572,000 | 5,566,000 | ||
Rental Revenue Income [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 438,000 | 1,543,000 | 838,000 | 3,228,000 |
Commission Revenue [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 204,000 | 295,000 | 507,000 | 295,000 |
Net Investment Revenue Income [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 41,000 | 197,000 | 136,000 | 314,000 |
Packaging Printing and Fabrication [Member] | Printed Products [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 3,441,000 | 3,571,000 | 6,323,000 | 9,341,000 |
Commercial and Security Printing [Member] | Printed Products [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 87,000 | 55,000 | 278,000 | 320,000 |
Direct Marketing Internet Sales [Member] | Direct Marketing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,572,000 | 5,566,000 | ||
Rental Income [Member] | Rental Revenue Income [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 438,000 | 1,543,000 | 838,000 | 3,228,000 |
Commission Income [Member] | Commission Revenue [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 204,000 | 295,000 | 507,000 | 295,000 |
Net Investment Income [Member] | Net Investment Revenue Income [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 41,000 | $ 197,000 | $ 136,000 | $ 314,000 |
Segment Information (Details Na
Segment Information (Details Narrative) | 6 Months Ended |
Jun. 30, 2024 Segments | |
Segment Reporting [Abstract] | |
Number of Reportable Segments | 5 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
May 08, 2023 | Aug. 29, 2022 | Jul. 26, 2022 | Oct. 13, 2021 | Sep. 10, 2020 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | Mar. 31, 2024 | |
Unrealized loss on investment | $ (17,426,000) | $ (17,325,000) | |||||||||
Net loss | $ (4,683,000) | $ (37,923,000) | (8,754,000) | $ (45,959,000) | |||||||
Notes receivable current | 3,907,000 | 3,907,000 | 8,772,000 | ||||||||
Long term portion of notes receivable | 117,000 | 117,000 | 111,000 | ||||||||
Principal and accrued interest | 49,130,000 | 49,130,000 | 47,776,000 | ||||||||
Note 8 [Member] | |||||||||||
Principal amount | $ 100,000 | ||||||||||
Maturity date | Aug. 29, 2025 | ||||||||||
Debt instrument interest percentage | 8% | ||||||||||
Notes and loans receivable gross current | $ 101,000 | $ 101,000 | 100,000 | ||||||||
Notes receivable current | 76,000 | ||||||||||
Long term portion of notes receivable | 24,000 | ||||||||||
Note 9 [Member] | |||||||||||
Principal amount | $ 102,000 | ||||||||||
Maturity date | May 07, 2026 | ||||||||||
Debt instrument interest percentage | 2% | 24.90% | 24.90% | ||||||||
Notes and loans receivable gross current | $ 110,000 | $ 110,000 | 107,000 | ||||||||
Notes receivable current | $ 54,000 | ||||||||||
Effective rate percentage | 10.50% | 10.50% | 10.50% | ||||||||
Principal and accrued interest | $ 53,000 | ||||||||||
Note 10 [Member] | |||||||||||
Principal amount | $ 1,000,000 | $ 959,000 | $ 959,000 | ||||||||
Maturity date | Jul. 26, 2024 | ||||||||||
Debt instrument interest percentage | 8% | ||||||||||
Notes and loans receivable gross current | 959,000 | 959,000 | 939,000 | ||||||||
Notes receivable current | $ 480,000 | ||||||||||
Unamortized origination fees | 20,000 | ||||||||||
BMIC Loan [Member] | |||||||||||
Principal amount | $ 3,000,000 | 461,000 | 461,000 | 547,000 | |||||||
Maturity date | Oct. 12, 2022 | ||||||||||
Wilson Loan [Member] | |||||||||||
Principal amount | $ 3,000,000 | $ 1,064,000 | 1,064,000 | 2,131,000 | |||||||
Maturity date | Oct. 12, 2022 | ||||||||||
BMI Capital International LLC [Member] | |||||||||||
Issuance of common stock, net of expenses | $ 100,000 | ||||||||||
Net loss | $ 7,000 | 22,000 | |||||||||
DSS Securities, Inc. [Member] | |||||||||||
Ownership percentage | 14.90% | ||||||||||
BMI Capital International LLC [Member] | |||||||||||
Ownership percentage | 24.90% | ||||||||||
DSS Financial Management Inc [Member] | Note 8 [Member] | |||||||||||
Ownership percentage | 24.90% | 24.90% | |||||||||
DSS Financial Management Inc [Member] | Note 9 [Member] | |||||||||||
Ownership percentage | 24.90% | 24.90% | |||||||||
Alset International Limited [Member] | |||||||||||
Investment owned, balance shares | 127,179,291 | 127,179,291 | |||||||||
Warrants percentage | 4% | ||||||||||
Marketable securities | $ 2,912,000 | $ 2,912,000 | $ 3,269,000 | ||||||||
Unrealized loss on investment | $ 356,000 | $ 1,819,000 | |||||||||
DSS Securities, Inc. [Member] | |||||||||||
Issuance of common stock, net of expenses | $ 100,000 | ||||||||||
Outstanding membership interest | 10% |