Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION AND MAJOR CUSTOMERS

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SEGMENT INFORMATION AND MAJOR CUSTOMERS
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND MAJOR CUSTOMERS

NOTE 15 - SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

  

The Company currently has identified four segments as follows:

 

REGS   Industrial Cleaning
TCC   Rail Car Cleaning
MV   Environmental Solutions
PWS   Solid Waste

 

Reach is not currently operating but when operations commence would be part of the Environmental Solutions segment.

 

The composition of our reportable segments is consistent with that used by our chief operating decision maker 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, interest expense, depreciation and amortization and stock-based compensation to the segments. All intercompany transactions have been eliminated.

 

Segment information as of December 31, 2013 and 2012 and for the years then ended is as follows:

  

  Industrial     Railcar     Environmental     Solid              
2013   Cleaning     Cleaning     Solutions     Waste     Corporate     Total  
                                     
Revenue   $ 5,788,300     $ 2,450,100     $ 3,375,600       —       —     $ 11,614,000  
Depreciation and amortization (1)   $ 213,700     $ 21,400     $ 127,900       100     $ 10,100     $ 373,200  
Interest expense   $ 66,000     $ 47,400     $ 12,400       —     $ 21,700     $ 147,500  
Stock-based compensation     —       —       —       —     $ 48,600     $ 48,600  
Net income (loss)   $ 531,300     $ 242,500     $ 358,400     $ (518,800 )   $ (1,472,000 )   $ (858,600 )
Capital expenditures (cash and noncash)   $ 507,300     $ 3,100     $ 79,300     $ 709,000       —     $ 1,298,700  
Total assets   $ 1,408,800     $ 657,700     $ 866,800     $ 710,900     $ 2,728,000     $ 6,372,200  

 

  Industrial     Railcar     Environmental     Solid              
2012   Cleaning     Cleaning     Solutions     Waste     Corporate     Total  
                                     
Revenue   $ 3,064,700     $ 2,336,900     $ 1,439,800     $ —     $ —     $ 6,841,400  
Depreciation and amortization (1)   $ 172,400     $ 29,500     $ 116,000     $ —     $ 10,000     $ 327,900  
Interest expense   $ 121,900     $ 41,200     $ 13,100     $ —     $ 127,700     $ 303,900  
Stock-based compensation   $ —     $ —     $ —     $ —     $ 571,600     $ 571,600  
Net income (loss)   $ (145,300 )   $ 397,200     $ (142,000 )   $ (434,200 )   $ (1,364,800 )   $ (1,689,100 )
Capital expenditures (cash and noncash)   $ 6,300     $ 1,700     $ 68,900     $ —     $ —     $ 76,900  
Total assets   $ 1,350,000     $ 444,300     $ 892,300     $ 1,000     $ 112,200     $ 2,799,800  

  

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

 

Customer Concentrations by Segment

 

Industrial Cleaning

 

As of December 31, 2013 and 2012, we had two customers with sales in excess of 10% of industrial cleaning segment revenue and combined were 85% and 66%, respectively, of segment revenues.

 

Railcar Cleaning

 

As of December 31, 2013 we had one customer with sales in excess of 10% of railcar cleaning segment revenue and that customer was 11% of segment revenues. As of December 31, 2012, we had two customers with sales in excess of 10% of railcar cleaning segment revenue and combined were 28% of segment revenues.

 

Environmental Solutions

 

As of December 31, 2013 and 2012, we had three customers with sales in excess of 10% of environmental solutions segment revenue and combined were 40% and 53%, respectively, of segment revenues.