Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

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SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

NOTE 15 - SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

 

The Company currently has identified four segments as follows: 

 

  REGS Industrial Cleaning
  TCC Rail Car Cleaning
  MV Environmental Solutions
  PWS Solid Waste

 

Reach is not currently operating but when operations commence would be part of the Environmental Solutions segment.

 

The composition of our reportable segments is consistent with that used by our chief operating decision maker to evaluate performance and allocate resources.  All of our operations are located in the U.S.  We have not allocated corporate selling, general and administrative expenses, interest expense, depreciation and amortization and stock-based compensation to the segments.  All intercompany transactions have been eliminated.

 

Segment information as of December 31, 2014 and 2013 and for the years then ended is as follows: 

 

    Industrial     Railcar     Environmental     Solid              
2014   Cleaning     Cleaning     Solutions     Waste     Corporate     Total
                         
Revenue   $ 10,221,200     $ 2,665,200     $ 4,302,500     $ 109,000       —     $ 17,297,900  
Depreciation and amortization (1)   $ 238,700     $ 22,100     $ 130,600     $ 63,300     $ 39,800     $ 494,500  
Interest expense   $ 38,100     $ 20,000     $ 5,100     $ 900     $ 13,700     $ 77,800  
Stock-based compensation     —       —       —       —     $ 994,500     $ 994,500  
Net income (loss)   $ 2,537,500     $ 216,100     $ 46,200     $ (941,200 )   $ (2,584,500 )   $ (726,000 )
Capital expenditures (cash and noncash)   $ 353,300     $ 34,600     $ 88,900     $ 2,777,400     $ 238,300     $ 3,492,500  
Total assets   $ 2,541,900     $ 688,300     $ 1,671,200     $ 3,468,300     $ 627,400     $ 8,997,100  

 

 

    Industrial     Railcar     Environmental     Solid              
2013   Cleaning     Cleaning     Solutions     Waste     Corporate     Total
                         
Revenue   $ 5,788,300     $ 2,450,100     $ 3,375,600       —       —     $ 11,614,000  
Depreciation and amortization (1)   $ 213,700     $ 21,400     $ 127,900     $ 100     $ 10,100     $ 373,200  
Interest expense   $ 66,000     $ 47,400     $ 12,400       —     $ 21,700     $ 147,500  
Stock-based compensation     —       —       —       —     $ 48,600     $ 48,600  
Net income (loss)   $ 531,300     $ 242,500     $ 358,400     $ (518,800 )   $ (1,472,000 )   $ (858,600 )
Capital expenditures (cash and
noncash)		   $ 507,300     $ 3,100     $ 79,300     $ 709,000       —     $ 1,298,700  
Total assets   $ 1,408,800     $ 657,700     $ 866,800     $ 710,900     $ 2,728,000     $ 6,372,200  

 

  (1) Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles

 

Customer Concentrations by Segment

 

Industrial Cleaning

 

As of December 31, 2014 and 2013, we had two customers with sales in excess of 10% of industrial cleaning segment revenue and combined were 86% and 85%, respectively, of segment revenues.

 

Railcar Cleaning

 

As of December 31, 2013 we had one customer with sales in excess of 10% of railcar cleaning segment revenue and that customer was 11% of segment revenues. There were no customers with sales in excess of 10% of railcar cleaning segment revenues.

 

Environmental Solutions

 

As of December 31, 2014 and 2013, we had three customers with sales in excess of 10% of environmental solutions segment revenue and combined were 44% and 40%, respectively, of segment revenues.