Annual report pursuant to Section 13 and 15(d)

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES

INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES

12 Months Ended

Dec. 31, 2021

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 2021 and 2020. 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,
	2021			2020
PWS-MWS Joint Venture
Revenues	$	221,300		$	183,600
Operating costs		201,600			177,400
Net income		19,700			6,200
Company’s share of net income		9,800			3,100

PWS-Paragon Southwest Joint Venture
Revenues	$	2,233,700		$	1,730,100
Operating costs		3,244,400			2,495,300
Net loss		(1,010,700	)		(765,200	)
Company’s share of net income		-			-

	June 30,		June 30,
	2021		2020
PWS UK Joint Venture
Assets	$	54,600	$	104,200
Liabilities		-		-
Net assets		54,600		104,200
Net loss		61,200		71,900
Company’s share of net income		-		-