Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION AND MAJOR CUSTOMERS

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SEGMENT INFORMATION AND MAJOR CUSTOMERS
3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND MAJOR CUSTOMERS

NOTE 17 - SEGMENT INFORMATION AND MAJOR CUSTOMERS

 

The Company currently has identified three segments as follows:

 

REGS Industrial Cleaning
MV and SEM Environmental Solutions
PWS Solid Waste

 

Reach has had minimal operations through March 31, 2018.

 

The composition of our reportable segments is consistent with that used by our Chief Operating Decision Maker (“CODM”) to evaluate performance and allocate resources. All of our operations are located in the U.S. We have not allocated corporate selling, general and administrative expenses, and stock-based compensation to the segments. All intercompany transactions have been eliminated.

 

Segment information for the three months ended March 31, 2018 and 2017 is as follows:

 

2018   Industrial   Environmental   Solid        
    Cleaning   Solutions   Waste   Corporate   Total
                     
Revenue   $ 923,200     $ 875,500     $ 97,400     $     $ 1,896,100  
Depreciation and amortization (1)     76,200       44,400       19,300       20,700       160,600  
Interest expense     15,200       2,600             348,000       365,800  
Stock-based compensation                       35,500       35,500  
Net income (loss)     (77,500 )     120,600       (36,100 )     (754,300 )     (747,300 )
Capital expenditures (cash and noncash)
                             
Total assets   $ 982,100       1,008,400     $ 526,400     $ 1,546,400     $ 4,063,300  

 

2017   Industrial   Environmental   Solid        
    Cleaning (2)   Solutions   Waste   Corporate   Total (3)
                     
Revenue   $ 834,500     $ 1,689,000     $ 69,300     $     $ 2,592,800  
Depreciation and amortization (1)     83,000       40,700       32,800       25,000       181,500  
Interest expense     6,300       4,800       100       415,700       426,900  
Stock-based compensation                       17,000       17,000  
Net income (loss)     (23,400 )     217,400       (111,300 )     (857,300 )     (774,600 )
Capital expenditures (cash and noncash)
          1,300                   1,300  
Total assets   $ 1,041,700     $ 2,114,000     $ 1,795,100     $ 1,011,000     $ 5,961,800  

 

(1) Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles
(2) Includes mobile rail car cleaning and excludes locations classified as discontinued operations
(3) Excludes discontinued operations