INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES |
12 Months Ended |
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Dec. 31, 2022 | |
| 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 other joint ventures, currently three 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 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, in accordance with ASC 323-10-35-20.
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- References No definition available.
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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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