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, 2024
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 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, 2024 and 2023 is as follows:

 

Three Months Ended September 30,

 

2024   Environmental     Solid              
    Solutions     Waste     Corporate     Total  
                         
Revenue   $ 888,800     $ -     $ -     $ 888,800  
Depreciation and amortization     200       -       3,600       3,800  
Interest expense     200       -       236,800       237,000  
Net income (loss) attributable to SEER common stockholders     119,200       (2,500 )     (577,800 )     (461,100 )
Capital expenditures (cash and noncash)     -       -       -       -  
Total assets   $ 892,200     $ -     $ 290,100     $ 1,182,300  

 

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

 

Nine Months Ended September 30,

 

2024   Environmental     Solid              
    Solutions     Waste     Corporate     Total  
                         
Revenue   $ 2,640,500     $ -     $ -     $ 2,640,500  
Depreciation and amortization     5,900       -       5,500       11,400  
Interest expense     600       -       685,300       685,900  
Net income (loss) attributable to SEER common stockholders     182,800       (900 )     (1,669,800 )     (1,487,900 )
Capital expenditures (cash and noncash)     19,200       -       3,500       22,700  
Total assets   $ 892,200     $ -     $ 290,100     $ 1,182,300  

 

2023   Environmental     Solid              
    Solutions     Waste     Corporate     Total  
                         
Revenue   $ 2,154,700     $ -     $ -     $ 2,154,700  
Depreciation and amortization     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 (1) $ 554,800     $ -     $ 532,200     $ 1,087,000  

 

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