Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION AND MAJOR CUSTOMERS

v3.25.2
SEGMENT INFORMATION AND MAJOR CUSTOMERS
 6 Months Ended
Jun. 30, 2025
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 six months ended June 30, 2025 and 2024 is as follows:

 

Three Months Ended June 30,                              
                               
2025         Environmental     Solid              
          Solutions     Waste     Corporate     Total  
                               
Revenue           $ 948,100     $ -     $ -     $ 948,100  
Depreciation and amortization             2,700       -       400       3,100  
Interest expense             (100 )     -       234,300       234,200  
Net income (loss) attributable to SEER common stockholders             61,600       1,000       (639,200 )     (576,600 )
Capital expenditures (cash and noncash)             -       -       -       -  
Total assets     (1 )   $ 591,400     $ -     $ 261,900     $ 853,300  

 

2024         Environmental     Solid              
          Solutions     Waste     Corporate     Total  
                               
Revenue           $ 761,900     $ -     $ -     $ 761,900  
Depreciation and amortization             2,900       -       1,200       4,100  
Interest expense             400       -       226,500       226,900  
Net income (loss) attributable to SEER common stockholders             4,300       1,600       (680,500 )     (674,600 )
Capital expenditures (cash and noncash)             19,200       -       1,800       21,000  
Total assets     (1 )   $ 699,500     $ -     $ 347,600     $ 1,047,100  

 

Six Months Ended June 30,                              
                               
2025         Environmental     Solid              
          Solutions     Waste     Corporate     Total  
                               
Revenue           $ 2,002,700     $ -     $ -     $ 2,002,700  
Depreciation and amortization             4,600       -       2,000       6,600  
Interest expense             -       -       481,300       481,300  
Stock-based compensation             -       -       -       -  
Net income (loss) attributable to SEER common stockholders             243,000       1,800       (1,268,000 )     (1,023,200 )
Capital expenditures (cash and noncash)             -       -       800       800  
Total assets     (1 )   $ 591,400     $ -     $ 261,900     $ 853,300  

 

2024         Environmental     Solid              
          Solutions     Waste     Corporate     Total  
                               
Revenue           $ 1,751,700     $ -     $ -     $ 1,751,700  
Depreciation and amortization             5,700       -       1,900       7,600  
Interest expense             400       -       448,400       448,800  
Net income (loss) attributable to SEER common stockholders             63,600       1,600       (1,091,900 )     (1,026,700 )
Capital expenditures (cash and noncash)             19,200       -       3,500       22,700  
Total assets     (1 )   $ 699,500     $ -     $ 347,600     $ 1,047,100  

 

(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)