Wednesday, April 17, 2024 4:59:37 AM
They're close on the Assets side: they wrote off the remaining value of the smart mirrors. They'll have to book a one time gain when they sell the inventory to a liquidator; watch eBay if you want a mirror.
The $43K they spent on molds for the smart cutting board will have to be written off; they still carry that on the books as of 12/31/2023.
The remaining asset would be the Goodwill, an intangible.
On the liabilities side, they have over $3 million as of 12/31/2023. They'll need to use bankruptcy to settle this debt.
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