Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION AND MAJOR CUSTOMERS

v3.22.2.2
SEGMENT INFORMATION AND MAJOR CUSTOMERS
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND MAJOR CUSTOMERS

NOTE 16 – SEGMENT INFORMATION AND MAJOR CUSTOMERS

 

The Company currently has identified two segments as follows:

 

  MV, SEM, PelleChar Environmental Solutions
  PWS Solid Waste

 

The composition of our reportable segments is consistent with that used by our chief decision makers 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 six months ended June 30, 2022 (unaudited), and 2021 is as follows:

 

                                 
Three Months ended June 30,   Environmental     Solid              
2022   Solutions     Waste     Corporate     Total  
Revenue   $ 1,070,200     $ 50,000     $ -     $ 1,120,200  
Depreciation and amortization (1)    

21,200

       9,600       (2,100 )     28,700  
Interest expense     1,200       -       187,900       189,100  
Stock-based compensation     -       -       -       -  
Net income (loss)     22,000       (35,900 )     (527,400 )     (541,300 )
Capital expenditures (cash and noncash)     3,500       -       -       3,500  
Total assets   $ 1,421,300     $ 299,200     $ 428,000     $ 2,148,500  

 

                                 
  Environmental     Solid              
2021   Solutions     Waste     Corporate     Total  
Revenue   $ 862,700     $ 58,300     $ -     $ 921,000  
Depreciation and amortization (1)     17,100       8,500       9,000       34,600  
Interest expense     1,300       -       179,600       180,900  
Stock-based compensation     -       -       4,800       4,800  
Net income (loss)(2)     (102,100 )     (55,500 )     (482,200 )     (639,800 )
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 1,395,800     $ 331,800     $ 618,200     $ 2,345,800  

 

                                 
Six months ended June 30,   Environmental     Solid              
2022   Solutions     Waste     Corporate     Total  
Revenue   $ 1,930,100     $ 100,000     $ -     $ 2,030,100  
Depreciation and amortization (1)     32,200       17,000       9,800       59,000  
Interest expense     2,500       4,100       373,200       379,800  
Stock-based compensation     -       -       -       -  
Net income (loss)     58,500       (41,800 )     (948,700 )     (932,000 )
Capital expenditures (cash and noncash)     31,800       -       -       31,800  
Total assets   $ 1,421,300     $ 299,200     $ 428,000     $ 2,148,500  

 

                                 
2021   Environmental     Solid              
    Solutions     Waste     Corporate     Total  
Revenue   $ 1,548,700     $ 116,500     $ -     $ 1,665,200  
Depreciation and amortization (1)     34,300       17,000       17,900       69,200  
Interest expense     2,700       -       372,400       375,100  
Stock-based compensation     -       -       9,500       9,500  
Net income (loss) (2)     36,100       (77,800 )     (928,600 )     (970,300 )
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 1,395,800     $ 331,800     $ 618,200     $ 2,345,800  

 

(1) Includes depreciation of property, equipment, and leasehold improvements and amortization of intangibles.
(2) The environmental solutions segment contains the total net income (loss) from discontinued operations of REGS.