Annual report pursuant to Section 13 and 15(d)

Investments in Unconsolidated Joint Ventures

Investments in Unconsolidated Joint Ventures

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Joint Ventures

NOTE 10 – INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES

The Company has a non-controlling interest in several joint ventures, currently four primarily for licensing and operating PWS CoronaLux™ waste destruction units and one for development of hybrid scrubber systems. Two joint ventures have limited their activity to formation only, no other operations have commenced. The following is summary information on the joint ventures that have had some activity in 2019 and 2018. The Company has no fixed commitment to fund any losses of the operating joint ventures and has no investment basis in any of the joint ventures therefore the Company has suspended the recognition of losses under the equity method of accounting.

	December 31,			December 31,
	2019			2018
PWS-MWS Joint Venture
Revenues	$	228,300		$	227,400
Operating costs		232,500			158,700
Net income		(4,200	)		68,700
Company’s share of net income		-			34,400

PWS-Paragon Southwest Joint Venture
Revenues	$	1,196,800		$	216,000
Operating costs		2,381,100			953,700
Net loss		(1,184,300	)		(737,700	)
Company’s share of net income		-			-

	June 30,		June 30,
	2019		2018
PWS UK Joint Venture
Assets	$	671,100	$	295,900
Liabilities		154,400		91,500
Net assets		516,700		204,400
Net loss		73,600		28,800
Company’s share of net income		-		-