Globe filed its annual report for the year ended June 30, 2019 pretty much concurrently with the announcement that it had sold Dwindle to Highline Industries Corporation. Skatewire reported that the purchase price was $1.5 million, but what the annual report says is that the carrying value of the assets was $1.5 million. I haven’t seen the purchase reported anywhere. The transaction will close and be accounted for in the first half of Globe’s current fiscal year. If you haven’t, you might also read the interview with Bod Boyle and Steve Lake on Shop Eat Surf about the deal.
According to Globe’s annual report, “The transaction includes the brands, working capital, domain names, social media accounts and the personnel attached to the Dwindle business.” Maybe they shouldn’t have worded it so it sounds like they sold the employees.