Annual report pursuant to Section 13 and 15(d)

Segment Information and Major Segment Customers

v3.20.1
Segment Information and Major Segment Customers
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segment Information and Major Segment Customers

NOTE 19 - SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

 

The Company currently has identified three segments as follows:

 

  REGS Industrial Cleaning
  MV, SEM, PelleChar Environmental Solutions
  PWS Solid Waste

 

Reach has had no operations through December 31, 2019.

 

The Industrial Cleaning segment was discontinued effective December 31, 2019.

 

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. The Company has not allocated corporate selling, general and administrative expenses, and stock-based compensation to the segments. All intercompany transactions have been eliminated.

 

Segment information as of December 31, 2019 and 2018 and for the years then ended is as follows:

 

2019   Industrial     Environmental     Solid              
    Cleaning (2)     Solutions     Waste     Corporate     Total  
                               
Revenue   $ 1,661,500     $ 4,052,900     $ 249,900     $ -     $ 5,964,300  
Depreciation and amortization (1)     154,100       43,300       61,400       88,200       347,000  
Interest expense     47,700       11,700       1,600       539,900       600,900  
Stock-based compensation     -       -       -       7,300       7,300  
Net income (loss)     (1,735,600 )     903,600       (295,100 )     (1,562,100 )     (2,689,200 )
Capital expenditures (cash and noncash)     5,300       3,000       -       67,100       75,400  
Total assets   $ 432,100     $ 1,491,900     $ 330,700     $ 807,200     $ 3,061,900  

  

2018   Industrial     Environmental     Solid              
    Cleaning (2)     Solutions     Waste     Corporate     Total  
                               
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 )     (2,973,000 )     (3,093,900 )
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  

 

(1) Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles
   
(2) Included in discontinued operations.

 

Customer Concentrations by Segment

 

Industrial Cleaning

 

For the year ended December 31, 2019, we had two customers with sales in excess of 10% of industrial cleaning segment revenue and combined were 48% of segment revenues. 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.

 

Environmental Solutions

 

For the year end December 31, 2019, we had two customers with sales in excess of 10% of environmental solutions segment revenue for a total of 28% of segment revenues. 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.