Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION AND MAJOR CUSTOMERS

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SEGMENT INFORMATION AND MAJOR CUSTOMERS
 6 Months Ended
Jun. 30, 2023
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, PelleChar Environmental Solutions
  PWS Solid Waste

 

The composition of our current 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 (unaudited) three and six months ended June 30, 2023 and 2022 is as follows:

 

2023   Solutions     Waste     Corporate     Total  
Three Months ended June 30,                        
                         
  Environmental     Solid              
2023   Solutions (1)     Waste     Corporate     Total  
                         
Revenue   $ 731,200     $ -     $ -     $ 731,200  
Depreciation and amortization     5,600       -       -       5,600  
Interest expense     200       -       225,400       225,600  
Stock-based compensation     -       -       -       -  
Net income (loss) attributable to SEER common stockholders     183,300       (1,000 )     (621,000 )     (438,700 )
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 765,200     $ -     $ 560,000     $ 1,325,200  

 

    Environmental     Solid              
2022   Solutions (1)     Waste     Corporate     Total  
                         
Revenue   $ 1,053,700     $ 50,000     $ -     $ 1,103,700  
Depreciation and amortization     21,200       9,600       (2,100 )     28,700  
Interest expense     700       -       187,900       188,600  
Net income (loss) attributable to SEER common stockholders     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  

 

2023   Solutions     Waste     Corporate     Total  
Six Months Ended June 30,                        
                         
    Environmental     Solid              
2023   Solutions (1)     Waste     Corporate     Total  
                         
Revenue   $ 1,284,400     $ -     $ -     $ 1,284,400  
Depreciation and amortization     11,200       -       -       11,200  
Interest expense     500       -       431,100       431,600  
Stock-based compensation     -       -       -       -  
Net income (loss) attributable to SEER common stockholders     35,700       8,500       (1,262,300 )     (1,218,100 )
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 765,200     $ -     $ 560,000     $ 1,325,200  

 

    Environmental     Solid              
2022   Solutions (1)     Waste     Corporate     Total  
                         
Revenue   $ 1,809,700     $ 100,000     $ -     $ 1,909,700  
Depreciation and amortization     32,200       17,000       9,800       59,000  
Interest expense     2,500       1,900       373,200       377,600  
Net income (loss) attributable to SEER common stockholders     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  

 

(1) Segment information excludes the results of SEM, which was discontinued January 1, 2023, except net income (loss), of which SEM is categorized as discontinued operations. (See Note 15)