Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION AND MAJOR CUSTOMERS

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SEGMENT INFORMATION AND MAJOR CUSTOMERS
 9 Months Ended
Sep. 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 nine months ended September 30, 2023 and 2022 is as follows:

 

    Solutions (1)     Waste     Corporate     Total  
Three Months ended September 30,                        
                         
2023   Environmental     Solid              
    Solutions (1)     Waste     Corporate     Total  
                         
Revenue   $ 870,300     $ -     $ -     $ 870,300  
Depreciation and amortization (1)     5,600       -       -       5,600  
Interest expense     400       -       222,100       222,500  
Net income (loss) attributable to SEER common stockholders     66,800       (1,700 )     (518,700 )     (453,600 )
Capital expenditures (cash and noncash)             -       -       -       -  
Total assets   $ 554,800     $ -     $ 532,200     $ 1,087,000  

 

2022   Environmental     Solid              
    Solutions (1)     Waste     Corporate     Total  
                         
Revenue   $ 1,142,400     $ -     $ -     $ 1,142,400  
Depreciation and amortization (1)     16,600       -       1,000       17,600  
Interest expense     600       -       197,000       197,600  
Net income (loss) attributable to SEER common stockholders     (103,600 )     (19,500 )     (476,500 )     (599,600 )
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets (1)   $ 1,732,500     $ 299,000     $ 312,400     $ 2,343,900  

 

    Solutions (1)     Waste     Corporate     Total  
Nine Months Ended September 30,                        
                         
2023   Environmental     Solid              
    Solutions (1)     Waste     Corporate     Total  
                         
Revenue   $ 2,154,700     $ -     $ -     $ 2,154,700  
Depreciation and amortization (1)     16,800       -       -       16,800  
Interest expense     700       -       653,300       654,000  
Net income (loss) attributable to SEER common stockholders     (55,700 )     6,800       (1,621,300 )     (1,670,200 )
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 554,800     $ -     $ 532,200     $ 1,087,000  
                                 

 

2022   Environmental     Solid              
    Solutions (1)     Waste     Corporate     Total  
                         
Revenue   $ 2,952,100     $ 100,000     $ -     $ 3,052,100  
Depreciation and amortization (1)     48,800       17,000       10,800       76,600  
Interest expense     3,100       4,100       568,000       575,200  
Net income (loss) attributable to SEER common stockholders     (22,800 )     (61,300 )     (1,425,200 )     (1,509,300 )
Capital expenditures (cash and noncash)     31,800       -       -       31,800  
Total assets (1)   $ 1,732,500     $ 299,000     $ 312,400     $ 2,343,900  

 

(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)