Annual report pursuant to Section 13 and 15(d)

Investments in Unconsolidated Joint Ventures

Investments in Unconsolidated Joint Ventures

12 Months Ended

Dec. 31, 2020

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 2020 and 2019. 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,
	2020			2019
PWS-MWS Joint Venture
Revenues	$	183,600		$	228,300
Operating costs		177,400			232,500
Net income		6,200			(4,200	)
Company’s share of net income		3,100			-

PWS-Paragon Southwest Joint Venture
Revenues	$	1,730,100		$	1,196,800
Operating costs		2,495,300			2,381,100
Net loss		(765,200	)		(1,184,300	)
Company’s share of net income		-			-

	June 30,		June 30,
	2020		2019
PWS UK Joint Venture
Assets	$	104,200	$	671,100
Liabilities		-		154,400
Net assets		104,200		516,700
Net loss		71,900		73,600
Company’s share of net income		-		-