Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

v3.7.0.1
SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS
6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

NOTE 16 – SEGMENT INFORMATION AND MAJOR CUSTOMERS

The Company currently has identified three segments as follows:

REGS       

Industrial Cleaning

MV and SEM

Environmental Solutions

PWS       

Solid Waste

Reach has had minimal operations through June 30, 2017. Substantially all of the assets and liabilities of Tactical, the rail car cleaning segment, was sold July 31, 2017 (Note 11).

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 June 30, 2017 and 2016 is as follows:

 

2017   Industrial   Environmental   Solid        
    Cleaning (2)   Solutions   Waste   Corporate   Total (3)
Revenue   $ 555,500     $ 1,862,500     $ 74,500     $ —       $ 2,492,500  
Depreciation and amortization (1)     87,000       75,700       42,400       24,500       229,600  
Interest expense     6,100       4,200       —         519,300       529,600  
Stock-based compensation     —         —         —         39,800       39,800  
Net income (loss)     (445,900 )     243,000       (87,600 )     (1,169,600 )     (1,460,100 )
Capital expenditures (cash and
noncash)
    60,400       —         —         —         60,400  
Total assets   $ 1,046,600       1,678,400     $ 1,758,700     $ 558,400     $ 5,042,100  

 

2016   Industrial   Environmental   Solid        
    Cleaning (2)   Solutions   Waste   Corporate   Total (3)
Revenue   $ 271,400     $ 1,132,600     $ 56,500     $ —       $ 1,460,500  
Depreciation and amortization (1)     81,700       42,700       31,500       19,900       175,800  
Interest expense     9,900       5,700       100       138,900       154,600  
Stock-based compensation     —         —         —         42,900       42,900  
Net income (loss)     (507,600 )     188,300       (134,700 )     (565,700 )     (1,019,700 )
Capital expenditures (cash and
noncash)
    10,100       3,900       3,100       —         17,100  
Total assets   $ 1,255,700     $ 1,993,700     $ 2,918,000     $ 992,300     $ 7,159,700  

 

Segment information for the six months ended June 30, 2017 and 2016 is as follows:

 

2017   Industrial   Environmental   Solid        
    Cleaning (2)   Solutions   Waste   Corporate   Total (3)
Revenue   $ 1,390,000     $ 3,551,500     $ 143,900     $ —       $ 5,085,400  
Depreciation and amortization (1)     169,900       116,400       75,200       47,200       408,700  
Interest expense     12,400       9,000       100       935,000       956,500  
Stock-based compensation     —         —         —         56,800       56,800  
Net income (loss)     (469,200 )     460,400       (198,900 )     (2,027,100 )     (2,234,800 )
Capital expenditures (cash and
noncash)
    60,400       1,300       —         —         61,700  
Total assets   $ 1,046,600       1,678,400     $ 1,758,700     $ 558,400     $ 5,042,100  

 

2016   Industrial   Environmental   Solid        
    Cleaning (2)   Solutions   Waste   Corporate   Total (3)
Revenue   $ 2,256,200     $ 1,705,400     $ 128,100     $ —       $ 4,089,700  
Depreciation and amortization (1)     169,400       82,800       64,800       42,400       359,400  
Interest expense     17,500       12,200       500       169,300       199,500  
Stock-based compensation     —         —         —         72,500       72,500  
Net income (loss)     88,500       91,000       (303,400 )     (1,022,500 )     (1,146,400 )
Capital expenditures (cash and
noncash)
    123,100       12,900       6,900       —         142,900  
Total assets   $ 1,255,700     $ 1,993,700     $ 2,918,000     $ 992,300     $ 7,159,700  
(1) Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles
(2) Includes mobile rail car cleaning and excludes locations classified as discontinued operations
(3) Excludes discontinued operations