Company: PGEN
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001356090-25-000007
Chunk: 304

Company: PRECIGEN, INC.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 16
Chunk 304
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, and 2023, $3,213 and $5,075 were included in indemnification accrual on the consolidated balance sheets, respectively. During 2024, the Company paid $1,862 for expenses incurred by the Buyer for the period from July 2023 to December 2023.  In addition, during 2023, the Company paid $675 for indemnification claims against this liability for the period from the date of sale to June 2023. The following table presents the financial results of discontinued operations related to TransOva through the date of disposition in 2022:

F-25

Year Ended December 31,2022Product revenues$21,494 Service revenues49,657      Total revenues71,151 Cost of products18,634 Cost of services22,701 Research and development2,348 Selling, general and administrative15,215      Total operating expenses58,898 Operating income 12,253 Other income, net1,139 Gain on divestiture94,702      Income before income taxes108,094 Income tax (expense) benefit—     Income from discontinued operations$108,094 The following table presents the significant noncash items, purchases of property, plant and equipment, and proceeds from sales of assets for the discontinued operations related to Trans Ova that are included in the accompanying consolidated statements of cash flows for the year ended December 31, 2022:Adjustments to reconcile net loss to net cash used in operating activitiesDepreciation and amortization$3,574 Loss on disposal of assets421 Provision for credit losses944 Stock-based compensation expense9 Cash flows from investing activitiesPurchases of property, plant and equipment(3,529)Proceeds from sales of assets594 

4. Investments in Joint Ventures

Intrexon Energy PartnersIn 2014, the Company and certain investors (the "IEP Investors"), including an affiliate of Third Security, entered into a Limited Liability Company Agreement that governs the affairs and conduct of business of Intrexon Energy Partners, a JV formed to optimize and scale-up the Company's MBP technology for the production of certain fuels and lubricants. The Company also entered into an ECC with Intrexon Energy Partners providing exclusive rights to the Company's technology for the use in bioconversion for the production of certain fuels and lubricants, as a result of which the Company received a technology access fee of $25,000 while