Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION AND MAJOR CUSTOMERS

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

NOTE 18 – SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

 

The Company currently has identified three segments as follows:

 

REGS

Industrial Cleaning

MV & SEM

Environmental Solutions

PWS

Solid Waste

 

Reach is not currently operating but when operations commence would be part of the Environmental Solutions segment. PelleChar was not operating as of December 31, 2018 but when operations commence it will be part of a new segment, Soil Amendment/Organic Fertilizer.

 

The composition of our reportable segments is consistent with that used by our chief operating decision maker 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, interest expense, depreciation and amortization and stock-based compensation to the segments. All intercompany transactions have been eliminated.

 

Segment information as of December 31, 2018 and 2017 and for the years then ended is as follows:

 

2018   Industrial     Environmental     Solid              
    Cleaning (2)     Solutions     Waste     Corporate     Total (3)  
                               
Revenue   $ 2,946,800     $ 4,900,900     $ 369,200     $ —     $ 8,216,900  
Depreciation and amortization (1)     272,500       103,900       94,500       82,300       553,200  
Interest expense     49,700       9,300       —       1,400,700       1,459,700  
Stock-based compensation     —       —       —       124,600       124,600  
Net income (loss)     (1,055,000 )     1,192,500       (258,400 )     (3,014,000 )     (3,134,900 )
Capital expenditures (cash and noncash)     12,900       47,900       —       —       60,800  
Goodwill     —       227,800       —       —       227,800  
Total assets   $ 502,200     $ 2,091,000     $ 401,300     $ 785,600     $ 3,780,100  

 

2017   Industrial     Environmental     Solid              
    Cleaning (2)     Solutions     Waste     Corporate     Total (3)  
                               
Revenue   $ 2,254,200     $ 5,256,300     $ 917,500     $ —     $ 8,428,000  
Depreciation and amortization (1)     356,300       189,900       136,300       86,200       768,700  
Interest expense     23,800       15,200       100       1,386,400       1,425,500  
Stock-based compensation     —       —       —       246,600       246,600  
Net income (loss)     (1,299,200 )     194,200       (1,329,600 )     (3,699,000 )     (6,133,600 )
Capital expenditures (cash and noncash)     189,900       2,900       —       95,400       288,200  
Goodwill     —       227,800       —       —       227,800  
Total assets   $ 814,500     $ 1,339,500     $ 613,600     $ 983,300     $ 3,750,900  

 

(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

 

Customer Concentrations by Segment

 

Industrial Cleaning

 

For the year ended December 31, 2018, we had two customers with sales in excess of 10% of industrial cleaning segment revenue and combined were 50% of segment revenues. For the year ended December 31, 2017, we had two customers with sales in excess of 10% of industrial cleaning segment revenue and combined were 21% of segment revenues.

 

Environmental Solutions

 

For the year end December 31, 2018, we had two customers with sales in excess of 10% of environmental solutions segment revenue for a total of 27% of segment revenues. For the year end December 31, 2017, we had one customer with sales in excess of 10% of environmental solutions segment revenue for a total of 16% of segment revenues.