Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

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SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

NOTE 16 - SEGMENT INFORMATION AND MAJOR SEGMENT CUSTOMERS

 

The Company currently has identified four segments as follows:

 

  REGS Industrial Cleaning
  TCC Rail Car Cleaning
  MV & SEM 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, 2015 and 2014 and for the years then ended is as follows:

  

2015   Industrial Cleaning   Railcar Cleaning   Environmental Solutions   Solid Waste   Corporate   Total
                         
Revenue   $ 5,328,300     $ 3,018,000     $ 3,233,900     $ 1,064,700     $ —     $ 12,644,900  
Depreciation and amortization (1)     331,900       34,700       141,400       118,600       89,600       716,200  
Interest expense     37,800       6,600       4,900       600       43,400       93,300  
Stock-based compensation     —       —       —       —       307,800       307,800  
Net income (loss)     139,800       248,400       (477,500 )     (1,160,700 )     (2,173,600 )     (3,423,600 )
Capital expenditures (cash and noncash)     345,900       45,000       312,000       185,100       81,600       969,600  
Goodwill     —       —       227,800       —       —       227,800  
Total assets   $ 1,748,000     $ 622,100     $ 1,643,200     $ 3,027,800     $ 408 300     $ 7,449,400  

 

2014   Industrial Cleaning   Railcar Cleaning   Environmental Solutions   Solid Waste   Corporate   Total
                         
Revenue   $ 10,221,200     $ 2,665,200     $ 4,302,500     $ 109,000       —     $ 17,297,900  
Depreciation and amortization (1)   $ 238,700     $ 22,100     $ 130,600     $ 63,300     $ 39,800     $ 494,500  
Interest expense   $ 38,100     $ 20,000     $ 5,100     $ 900     $ 13,700     $ 77,800  
Stock-based compensation     —       —       —       —     $ 994,500     $ 994,500  
Net income (loss)   $ 2,537,500     $ 216,100     $ 46,200     $ (941,200 )   $ (2,584,500 )   $ (726,000 )
Capital expenditures (cash and noncash)   $ 353,300     $ 34,600     $ 88,900     $ 2,777,400     $ 238,300     $ 3,492,500  
Total assets   $ 2,541,900     $ 688,300     $ 1,671,200     $ 3,468,300     $ 627,400     $ 8,997,100  

 

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

 

Customer Concentrations by Segment

 

Industrial Cleaning

 

For the year ended December 31, 2015 we had one customer with sales in excess of 10% of industrial cleaning segment revenue and combined were 84% of segment revenues. For the year ended December 31, 2014, we had two customers with sales in excess of 10% of industrial cleaning segment revenue and combined were 86% of segment revenues.

 

Railcar Cleaning

 

For the year ended December 31, 2015 we had one customer with sales in excess of 10% of railcar cleaning segment revenue and that customer was 21% of segment revenues. For the year ended December 31, 2014 there were no customers with sales in excess of 10% of railcar cleaning segment revenues.

 

Environmental Solutions

 

For the year end December 31, 2015 we had three customers with sales in excess of 10% of environmental solutions segment revenue and combined were 56% of segment revenues. For the year end December 31, 2014 we had three customers with sales in excess of 10% of environmental solutions segment revenue and combined were 44% of segment revenues.