Quarterly report pursuant to Section 13 or 15(d)

NOTE 15 - SEGMENT INFORMATION AND MAJOR CUSTOMERS

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NOTE 15 - SEGMENT INFORMATION AND MAJOR CUSTOMERS
 9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND MAJOR CUSTOMERS

NOTE 15 - SEGMENT INFORMATION AND MAJOR CUSTOMERS

The Company currently has identified four segments as follows:

 

REGS - Industrial Cleaning

Tactical - Rail Car Cleaning

MV and Reach - Environmental Solutions

PWS - Solid Waste

 

Reach has had minimal operations through September 30, 2014.

 

The composition of our reportable segments is consistent with that used by our Chief Operating Decision Maker ("CODM") 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, and stock-based compensation to the segments. All intercompany transactions have been eliminated.

 

Segment information for the three months ended September 30, 2014 and 2013 is as follows:

 

2014   Industrial   Railcar   Environmental   Solid        
    Cleaning   Cleaning   Solutions   Waste   Corporate   Total
                         
Revenue   $ 2,916,700     $ 723,900     $ 1,192,800     $ 20,700     $ —       $ 4,854,100  
Depreciation and amortization (1)   $ 60,600     $ 5,500     $ 32,100     $ 17,400     $ 25,500     $ 141,100  
Interest expense   $ 8,300     $ 3,300     $ 1,800     $ 400     $ 3,000     $ 16,800  
Stock-based compensation   $ —       $ —       $ —       $ —       $ 75,000     $ 75,000  
Net income (loss)   $ 871,600     $ 75,800     $ 21,800     $ (244,500 )   $ (461,000 )   $ 263,700  
Capital expenditures for property and equipment (cash and noncash)   $ 36,300     $ 4,300     $ 6,000     $ 443,700     $ 58,600     $ 548,900  
Total assets   $ 2,174,500     $ 518,600     $ 1,445,000     $ 3,252,700     $ 3,480,300     $ 10,871,100  

 

2013   Industrial   Railcar   Environmental   Solid        
    Cleaning   Cleaning   Solutions   Waste   Corporate   Total
                         
Revenue   $ 1,807,500     $ 709,800     $ 689,000     $ —       $ —       $ 3,206,300  
Depreciation and amortization (1)   $ 56,100     $ 5,100     $ 32,000     $ —       $ 2,500     $ 95,700  
Interest expense   $ 19,500     $ 10,000     $ 3,100     $ 100     $ 6,500     $ 39,200  
Stock-based compensation   $ —       $ —       $ —       $ —       $ 76,600     $ 76,600  
Net income (loss)   $ 203,600     $ 114,400     $ 45,300     $ (113,400 )   $ (372,700 )   $ (122,800 )
Capital expenditures for property and equipment (cash and noncash)   $ 123,500     $ —       $ 4,700     $ 29,800     $ —       $ 158,000  
Total assets   $ 1,911,800     $ 565,600     $ 881,600     $ 165,400     $ 86,300     $ 3,610,700  
                                                 
(1) Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles

 

NOTE 15 - SEGMENT INFORMATION AND MAJOR CUSTOMERS, continued

 

Segment information for the nine months ended September 30, 2014 and 2013 is as follows:

 

2014   Industrial   Railcar   Environmental   Solid        
    Cleaning   Cleaning   Solutions   Waste   Corporate   Total
                         
Revenue   $ 7,120,300     $ 1,918,900     $ 2,774,300     $ 99,300     $ —       $ 11,912,800  
Depreciation and amortization (1)   $ 168,600     $ 15,700     $ 100,000     $ 34,600     $ 38,800     $ 357,700  
Interest expense   $ 28,600     $ 15,000     $ 4,600     $ 800     $ 10,500     $ 59,500  
Stock-based compensation   $ —       $ —       $ —       $ —       $ 760,000     $ 760,000  
Net income (loss)   $ 1,986,900     $ 87,300     $ (26,400 )   $ (601,300 )   $ (1,919,300 )   $ (472,800 )
Capital expenditures for property and equipment (cash and noncash)   $ 72,200     $ 11,400     $ 89,200     $ 2,556,000     $ 125,100     $ 2,853,900  
Total assets   $ 2,174,500     $ 518,600     $ 1,445,000     $ 3,252,700     $ 3,480,300     $ 10,871,100  

 

2013   Industrial   Railcar   Environmental   Solid        
    Cleaning   Cleaning   Solutions   Waste   Corporate   Total
                         
Revenue   $ 4,152,300     $ 1,802,000     $ 2,749,800     $ —       $ —       $ 8,704,100  
Depreciation and amortization (1)   $ 156,900     $ 16,200     $ 95,300     $ —       $ 7,500     $ 275,900  
Interest expense   $ 47,900     $ 38,300     $ 9,800     $ —       $ 14,300     $ 110,300  
Stock-based compensation   $ —       $ —       $ —       $ —       $ 87,600     $ 87,600  
Net income (loss)   $ 381,600     $ 230,700     $ 336,100     $ (362,000 )   $ (1,012,400 )   $ (426,000 )
Capital expenditures for property and equipment (cash and noncash)   $ 452,400     $ —       $ 13,400     $ —       $ —       $ 465,800  
Total assets   $ 1,911,800     $ 565,600     $ 881,600     $ 165,400     $ 86,300     $ 3,610,700  
                                                 

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