Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION AND MAJOR CUSTOMERS

v3.22.2.2
SEGMENT INFORMATION AND MAJOR CUSTOMERS
 9 Months Ended
Sep. 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 nine months ended September 30, 2022 (unaudited), and 2021 is as follows:

 

Three Months ended September 30,

 

2022   Environmental     Solid              
    Solutions     Waste     Corporate     Total  
                         
Revenue   $ 1,142,400     $ -     $ -     $ 1,142,400  
Depreciation and amortization (1)     16,600       -     1,000       17,600  
Interest expense     600       -       198,000       198,600  
Stock-based compensation     -       -       -       -  
Net income (loss)     (114,300 )     (19,500 )     (476,500 )     (610,300 )
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 1,732,500     $ 299,000     $ 312,400     $ 2,343,900  

 

2021   Environmental     Solid              
    Solutions     Waste     Corporate     Total  
                         
Revenue   $ 1,176,100     $ 58,200     $ -     $ 1,234,300  
Depreciation and amortization (1)     17,500       8,500       7,200       33,200  
Interest expense     1,200       300       180,000       181,500  
Stock-based compensation     -       -       3,100       3,100  
Net income (loss)     1,388,900       543,800       32,600       1,965,300  
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 1,463,400     $ 306,500     $ 533,000     $ 2,302,900  

 

Nine months ended September 30,

 

2022   Environmental     Solid              
    Solutions     Waste     Corporate     Total  
                         
Revenue   $ 3,072,500     $ 100,000     $ -     $ 3,172,500  
Depreciation and amortization (1)     48,800       17,000       10,800       76,600  
Interest expense     3,100       4,100       571,200       578,400  
Stock-based compensation     -       -       -       -  
Net income (loss)     (55,800 )     (61,300 )     (1,425,200 )     (1,542,300 )
Capital expenditures (cash and noncash)     31,800       -       -       31,800  
Total assets   $ 1,732,500     $ 299,000     $ 312,400     $ 2,343,900  

 

2021   Environmental     Solid              
    Solutions     Waste     Corporate     Total  
                         
Revenue   $ 2,724,800     $ 174,700     $ -     $ 2,899,500  
Depreciation and amortization (1)     51,800       25,500       25,100       102,400  
Interest expense     3,900       300       552,400       556,600  
Stock-based compensation     -       -       12,600       12,600  
Net income (loss)     1,425,000       466,000       (896,000 )     995,000  
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 1,463,400     $ 306,500     $ 533,000     $ 2,302,900  

 

  (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.