Quarterly report pursuant to Section 13 or 15(d)

Segment Information and Major Customers

v3.20.2
Segment Information and Major Customers
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Information and Major Customers

NOTE 18 – SEGMENT INFORMATION AND MAJOR CUSTOMERS

 

The Company currently has identified two segments as follows:

 

  MV, SEM, PelleChar, REGS in FY20 (1) Environmental Solutions
  PWS Solid Waste

 

  (1) REGS services division was discontinued in 2019 and is reported in discontinued operations. The remaining manufacturing division is reported in environmental solutions 2020.

 

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 for the three and nine months ended September 30, 2020 and 2019 is as follows (does not include discontinued operations):

 

Three Months ended

 

    Environmental     Solid              
2020   Solutions     Waste     Corporate     Total  
                         
Revenue   $ 992,000     $ 58,200     $ -     $ 1,050,200  
Depreciation and amortization (1)     30,500       13,100       14,200       57,800  
Interest expense     10,300       100       223,900       234,300  
Stock-based compensation     -       -       -       -  
Net income (loss)     (109,200 )     (55,600 )     (490,900 )     (655,700 )
Capital expenditures (cash and noncash)     67,100       -       -       67,100  
Total assets   $ 1,852,000     $ 306,700     $ 645,700     $ 2,804,400  

 

    Environmental     Solid              
2019   Solutions     Waste     Corporate     Total  
                         
Revenue   $ 953,300     $ 58,200     $ -     $ 1,011,500  
Depreciation and amortization (1)     9,900       10,800       24,900       45,600  
Interest expense     1,200       -       173,800       175,000  
Stock-based compensation     -       -       4,300       4,300  
Net income (loss)     225,400       (78,500 )     (157,500 )     (10,600 )
Capital expenditures (cash and noncash)     3,000       -       -       3,000  
Total assets   $ 1,879,100     $ 333,500     $ 849,300     $ 3,061,900  

 

Nine months ended

 

    Environmental     Solid              
2020   Solutions     Waste     Corporate     Total  
                         
Revenue   $ 2,492,100     $ 174,700     $ -     $ 2,666,800  
Depreciation and amortization (1)     57,800       32,500       41,400       131,700  
Interest expense     35,700       100       593,300       629,100  
Stock-based compensation     -       -       14,200       14,200  
Net income (loss)     (240,300 )     (188,500 )     (1,481,500 )     (1,910,300 )
Capital expenditures (cash and noncash)     131,600       -       -       131,600  
Total assets   $ 1,852,000     $ 306,700     $ 645,700     $ 2,804,400  

 

    Environmental     Solid              
2019   Solutions     Waste     Corporate     Total  
                         
Revenue   $ 2,934,000     $ 205,600     $ -     $ 3,139,600  
Depreciation and amortization (1)     33,800       49,400       68,100       151,300  
Interest expense     4,900       1,600       410,500       417,000  
Stock-based compensation     -       -       5,200       5,200  
Net income (loss)     584,500       (224,900 )     (1,124,500 )     (764,900 )
Capital expenditures (cash and noncash)     3,000       -       57,600       60,600  
Total assets   $ 1,879,100     $ 333,500     $ 849,300     $ 3,061,900  

 

(1) Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles