Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 08, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | AVALON HOLDINGS CORP | |
Entity Central Index Key | 0001061069 | |
Trading Symbol | awx | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Class A Common Stock, $0.01 par value | |
Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 611,784 | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 3,263,647 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net operating revenues: | ||||
Operating revenues | $ 18,018 | $ 18,148 | $ 51,051 | $ 46,369 |
Costs and expenses: | ||||
Depreciation and amortization expense | 630 | 732 | 1,848 | 2,187 |
Selling, general and administrative expenses | 2,379 | 2,297 | 6,990 | 6,737 |
Operating income | 345 | 927 | 396 | 739 |
Other income (expense): | ||||
Interest expense | (222) | (167) | (600) | (512) |
Other income, net | 41 | 45 | 257 | 218 |
Income before income taxes | 164 | 805 | 53 | 445 |
Provision for income taxes | 38 | 52 | 135 | 112 |
Net income (loss) | 126 | 753 | (82) | 333 |
Less net loss attributable to non-controlling interest in subsidiary | (18) | (96) | (67) | (340) |
Net income (loss) attributable to Avalon Holdings Corporation common shareholders | $ 144 | $ 849 | $ (15) | $ 673 |
Income (loss) per share attributable to Avalon Holdings Corporation common shareholders: | ||||
Basic net income (loss) per share (in dollars per share) | $ 0.04 | $ 0.22 | $ 0 | $ 0.18 |
Diluted net income (loss) per share (in dollars per share) | $ 0.04 | $ 0.21 | $ 0 | $ 0.17 |
Weighted average shares outstanding - basic (in shares) | 3,875,431 | 3,803,331 | 3,875,431 | 3,803,331 |
Weighted average shares outstanding - diluted (in shares) | 3,893,000 | 4,049,000 | 3,875,000 | 3,895,000 |
Waste Management Services [Member] | ||||
Net operating revenues: | ||||
Operating revenues | $ 11,572 | $ 12,557 | $ 35,908 | $ 32,525 |
Costs and expenses: | ||||
Operating costs | 9,229 | 9,863 | 28,773 | 25,615 |
Golf and Related Operations [Member] | ||||
Net operating revenues: | ||||
Operating revenues | 6,446 | 5,591 | 15,143 | 13,844 |
Costs and expenses: | ||||
Operating costs | 4,266 | 3,337 | 10,361 | 8,700 |
Golf and Related Operations [Member] | Food and Beverage [Member] | ||||
Net operating revenues: | ||||
Operating revenues | 2,587 | 2,285 | 6,027 | 5,531 |
Costs and expenses: | ||||
Operating costs | 1,169 | 992 | 2,683 | 2,391 |
Golf and Related Operations [Member] | Product and Service, Other [Member] | ||||
Net operating revenues: | ||||
Operating revenues | $ 3,859 | $ 3,306 | $ 9,116 | $ 8,313 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and cash equivalents | $ 1,942 | $ 1,406 |
Accounts receivable, less allowance for doubtful accounts of $273 at September 30, 2019 and $255 at December 31, 2018 | 10,995 | 12,197 |
Unbilled membership dues receivable | 853 | 554 |
Inventories | 853 | 820 |
Prepaid expenses | 766 | 622 |
Other current assets | 26 | 31 |
Total current assets | 15,435 | 15,630 |
Property and equipment, net | 48,219 | 42,534 |
Property and equipment under finance leases, net | 5,854 | 6,068 |
Operating lease right-of-use assets | 1,505 | |
Restricted cash | 502 | |
Noncurrent deferred tax asset | 8 | 8 |
Other assets, net | 38 | 27 |
Total assets | 71,059 | 64,769 |
Liabilities and Equity | ||
Current portion of long-term debt | 782 | 578 |
Current portion of obligations under finance leases | 250 | 236 |
Current portion of obligations under operating leases | 528 | |
Accounts payable | 10,530 | 10,454 |
Accrued payroll and other compensation | 1,024 | 872 |
Accrued income taxes | 106 | 84 |
Other accrued taxes | 358 | 405 |
Deferred membership dues revenue | 3,854 | 2,899 |
Other liabilities and accrued expenses | 987 | 793 |
Total current liabilities | 18,419 | 16,321 |
Long-term debt, net of current portion | 13,058 | 10,167 |
Line of credit | 575 | |
Obligations under finance leases, net of current portion | 515 | 688 |
Obligations under operating leases, net of current portion | 977 | |
Asset retirement obligation | 100 | 100 |
Equity: | ||
Paid-in capital | 59,145 | 59,141 |
Accumulated deficit | (21,716) | (21,701) |
Total Avalon Holdings Corporation Shareholders' Equity | 37,468 | 37,479 |
Non-controlling interest in subsidiary | (53) | 14 |
Total equity | 37,415 | 37,493 |
Total liabilities and equity | 71,059 | 64,769 |
Common Class A [Member] | ||
Equity: | ||
Common Stock | 33 | 33 |
Common Class B [Member] | ||
Equity: | ||
Common Stock | $ 6 | $ 6 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Accounts receivable, allowance for doubtful accounts | $ 273 | $ 255 |
Common Class A [Member] | ||
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Class B [Member] | ||
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member]Common Class A [Member] | Common Stock [Member]Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 3,191,100 | 612,231 | |||||
Balance at Dec. 31, 2017 | $ 32 | $ 6 | $ 58,965 | $ (20,557) | $ 38,446 | $ 2,126 | $ 40,572 |
Stock options - compensation costs | 5 | 5 | 5 | ||||
Net income (loss) | 673 | 673 | (340) | 333 | |||
Balance (in shares) at Sep. 30, 2018 | 3,191,100 | 612,231 | |||||
Balance at Sep. 30, 2018 | $ 32 | $ 6 | 58,970 | (19,884) | 39,124 | 1,786 | 40,910 |
Balance (in shares) at Jun. 30, 2018 | 3,191,100 | 612,231 | |||||
Balance at Jun. 30, 2018 | $ 32 | $ 6 | 58,968 | (20,733) | 38,273 | 1,882 | 40,155 |
Stock options - compensation costs | 2 | 2 | 2 | ||||
Net income (loss) | 849 | 849 | (96) | 753 | |||
Balance (in shares) at Sep. 30, 2018 | 3,191,100 | 612,231 | |||||
Balance at Sep. 30, 2018 | $ 32 | $ 6 | 58,970 | (19,884) | 39,124 | 1,786 | 40,910 |
Balance (in shares) at Dec. 31, 2018 | 3,263,647 | 611,784 | |||||
Balance at Dec. 31, 2018 | $ 33 | $ 6 | 59,141 | (21,701) | 37,479 | 14 | 37,493 |
Stock options - compensation costs | 4 | 4 | 4 | ||||
Net income (loss) | (15) | (15) | (67) | (82) | |||
Balance (in shares) at Sep. 30, 2019 | 3,263,647 | 611,784 | |||||
Balance at Sep. 30, 2019 | $ 33 | $ 6 | 59,145 | (21,716) | 37,468 | (53) | 37,415 |
Balance (in shares) at Jun. 30, 2019 | 3,263,647 | 611,784 | |||||
Balance at Jun. 30, 2019 | $ 33 | $ 6 | 59,144 | (21,860) | 37,323 | (35) | 37,288 |
Stock options - compensation costs | 1 | 1 | 1 | ||||
Net income (loss) | 144 | 144 | (18) | 126 | |||
Balance (in shares) at Sep. 30, 2019 | 3,263,647 | 611,784 | |||||
Balance at Sep. 30, 2019 | $ 33 | $ 6 | $ 59,145 | $ (21,716) | $ 37,468 | $ (53) | $ 37,415 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (82) | $ 333 |
Reconciliation of net income (loss) to cash provided by operating activities: | ||
Depreciation and amortization expense | 1,848 | 2,187 |
Amortization of debt issuance costs | 25 | 22 |
Compensation costs - stock options | 4 | 5 |
Provision for losses on accounts receivable | 27 | 34 |
Gain from disposal of vehicle | (45) | (17) |
Change in operating assets and liabilities, net of effect of acquisition | ||
Accounts receivable | 1,175 | (1,462) |
Unbilled membership dues receivable | (299) | (194) |
Inventories | (33) | (31) |
Prepaid expenses | (124) | (49) |
Other assets | (6) | (4) |
Accounts payable | (667) | 1,338 |
Accrued payroll and other compensation | 152 | 281 |
Accrued income taxes | 22 | 30 |
Other accrued taxes | (47) | (45) |
Deferred membership dues revenue | 955 | 613 |
Other liabilities and accrued expenses | 194 | 103 |
Net cash provided by operating activities | 3,099 | 3,144 |
Cash flows from investing activities: | ||
Capital expenditures | (5,689) | (2,012) |
Proceeds from disposal of vehicle | 45 | 17 |
Net cash used in investing activities | (5,734) | (3,264) |
Cash flows from financing activities: | ||
Proceeds under term loan facility | 3,000 | |
Payments of debt issuance costs | (47) | (5) |
Principal payments on term loan facilities | (533) | (422) |
Borrowings under line of credit facility | 575 | |
Repayment under line of credit facility | (134) | |
Principal payments on finance lease obligations | (192) | (178) |
Net cash provided by (used in) financing activities | 2,669 | (605) |
Increase (decrease) in cash, cash equivalents and restricted cash | 34 | (725) |
Cash, cash equivalents and restricted cash at beginning of period | 1,908 | 3,851 |
Cash, cash equivalents and restricted cash at end of period | 1,942 | 3,126 |
Significant non-cash operating and investing activities: | ||
Capital expenditures included in accounts payable | 743 | 585 |
Significant non-cash investing and financing activities: | ||
Operating lease right-of-use assets in exchange for lease obligaitons | 1,807 | |
Finance lease obligations incurred | 33 | 77 |
Acquisition of New Castle Country Club real property in exchange for the assumption of outstanding debt | 787 | |
Cash paid during the period for interest | 556 | 490 |
Cash paid during the period for income taxes | 113 | 82 |
Boardman Tennis Center [Member] | ||
Cash flows from investing activities: | ||
Acquisition of property | (1,269) | |
New Castle Country Club [Member] | ||
Cash flows from investing activities: | ||
Acquisition of property | $ (90) |
Note 1 - Description of Busines
Note 1 - Description of Business | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1. Avalon Holdings Corporation (“Avalon” or the “Company”) was formed on April 30, 1998 June 17, 1998, Avalon provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. In addition, Avalon owns Avalon Resorts and Clubs, Inc. (“ARCI”), which includes the operation and management of four third 2019, |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 2. The unaudited condensed consolidated financial statements of Avalon and related notes included herein have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted consistent with such rules and regulations. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and related notes included in Avalon’s 2018 The unaudited condensed consolidated financial statements include the accounts of Avalon, its wholly owned subsidiaries and those companies in which Avalon has managerial control. All significant intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the financial position of Avalon as of September 30, 2019, The operating results for the interim periods are not |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 3. Adopted Accounting Standards In February 2016, 2016 02, Leases 2016 02” 12 January 1, 2019, 2016 02 January 1, 2019, $ 1.7 7 In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09” 2014 09 2014 09 five March 2016, 2016 08, Revenue from Contracts with Customers (Topic 606 January 1, 2018, 2014 09 2016 08, not not September 30, 2019 December 31, 2018 nine September 30, 2019 2018 5 In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15” zero 2016 15 one January 1, 2018, 2016 15. not In November 2016, 2016 18, Statement of Cash Flows: Restricted Cash 2016 18” January 1, 2018, 2016 18. 2016 18 not 4 In January 2017, 2017 01, Business Combinations 805 : Clarifying the Definition of a Business 2017 01” 2017 01 2017 01 January 1, 2018. March 2018, May 2019, 2017 01 16 In March 2018, 2018 05, 740 Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 2018 05" 2018 05 December 22, 2017 2018 05 one 2018 05 March 2018. Accounting Standards Not In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments 2016 13” 2016 13 January 1, 2020, January 1, 2019. not |
Note 4 - Cash, Cash Equivalents
Note 4 - Cash, Cash Equivalents and Restricted Cash | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 4. Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with a maturity of three may, not not Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in restricted cash on the Condensed Consolidated Balance Sheets. Restricted cash consists of loan proceeds deposited into a project fund account to fund costs associated with the renovation and expansion of The Grand Resort in accordance with the provisions of the loan and security agreements (See Note 9 The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows. Cash, cash equivalents and restricted cash consist of the following at September 30, 2019 December 31, 2018 ( September 30, December 31, 2019 2018 Cash and cash equivalents $ 1,942 $ 1,406 Restricted cash - 502 Cash, cash equivalents and restricted cash $ 1,942 $ 1,908 |
Note 5 - Revenues
Note 5 - Revenues | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 5. Adoption of ASC Topic 606, On January 1, 2018, 606, Revenue from Contracts with Customers 606” 606, no 606 not not September 30, 2019 December 31, 2018 nine September 30, 2019 2018. Revenue Recognition The Company identifies a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when obligations under the terms of the contract with our customer are satisfied; generally this occurs with the transfer of control of the good or service to the customer. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. The Company does not not Waste Management Services Avalon’s waste management services provide hazardous and nonhazardous waste brokerage and management services, captive landfill management services and salt water injection well operations. Waste management services are provided to industrial, commercial, municipal and governmental customers primarily in selected northeastern and midwestern United States markets. Avalon’s waste brokerage and management business assists customers with managing and disposing of wastes at approved treatment and disposal sites based upon a customer’s needs. Avalon provides a service to its customers whereby Avalon, arranges for, and accepts responsibility for the removal, transportation and disposal of waste on behalf of the customer. Avalon’s landfill management business provides technical and operational services to customers owning captive disposal facilities. A captive disposal facility only disposes of waste generated by the owner of such facility. The Company provides turnkey services, including daily operations, facilities management and management reporting for its customers. Currently, Avalon manages one Avalon is a minority owner with managerial control over two 15 no three nine September 30, 2019 2018. For the three September 30, 2019 2018, 64% 69%, nine September 30, 2019 2018, 70% nine September 30, 2019 2018, no one 10% For our waste management services contracts, the customer contracts with us to provide a series of distinct waste management services over time which integrates a set of tasks (i.e. removal, transportation and disposal of waste) into a single project. Avalon provides substantially the same service over time and the same method is used to measure the Company’s progress toward complete satisfaction of the performance obligation to transfer each distinct service in the series to the customer. The series of distinct waste management services, which are the same over time, meets the series provision criteria, and as such, the Company treats that series as a single performance obligation. The Company allocates the transaction price to the single performance obligation and recognizes revenue by applying a single measure of progress to that performance obligation. Avalon transfers control of the service over time and, therefore, satisfies the performance obligation and recognizes the revenue over time as the customer simultaneously receives and consumes the benefits provided by Avalon’s performance as we perform. In addition, as the promise to provide services qualifies as a series accounted for as a single performance obligation, the Company applied the practical expedient guidance that allows an entity that is recognizing revenue over time by using an output method to recognize revenue equal to the amount that the entity has the right to invoice if the invoiced amount corresponds directly to the value transferred to the customer. The Company applied the standard's practical expedient that permits the omission of disclosures relating to unsatisfied performance obligations as most of the Company’s waste management service contracts (i) have an original expected length of one Avalon evaluated whether we are the principal (i.e. report revenues on a gross basis) or agent (i.e. report revenues on a net basis). Avalon reports waste management services on a gross basis, that is, amounts billed to our customers are recorded as revenues, and amounts paid to vendors for providing those services are recorded as operating costs. As principal, Avalon is primarily responsible for fulfilling the promise to provide waste management services for the customer. Avalon accepts credit risk in the event of nonpayment by the customer and is obligated to pay vendors who provide the service regardless of whether the customer pays the Company. Avalon does have a level of discretion in establishing the pricing for its service. Our payment terms vary by the type and location of our customer and the service offered. Avalon does not not The Company assesses each contract amendment individually. Typically, amendments made to our contracts do not not Consideration promised in our waste management contracts do not no Golf and Related Operations Avalon’s golf and related operations include the operation and management of four first three 2019 2018. For the three September 30, 2019 2018, 36% 31%, nine September 30, 2019 2018, 30% nine September 30, 2019 2018, no one 10% For Avalon’s golf and related operations, the Avalon Golf and Country Club offers membership packages for use of the country club facilities and its related amenities. Membership agreements are a one not Membership for the Avalon Golf and Country Club does not not no not Under the terms of the contract, Avalon will provide unlimited use and access to the country club facilities. Avalon’s performance obligation in the contract is the “stand ready obligation” to provide access to these facilities for the member for the entire membership term. Avalon providing the “stand ready obligation” for use of the facilities to the member over the entire term of the membership agreement represents a single performance obligation of which Avalon expects the member to receive and consume the benefits of its obligation throughout the membership term, and as such, the Company recognizes membership dues on a straight line basis over the term of the contract. The Company applied the standard's practical expedient that permits the omission of disclosures relating to unsatisfied performance obligations for contracts with an original expected length of one one For our hotel operations, Avalon’s performance obligation is to provide lodging facilities. The separate components of providing these services (hotel room, toiletry items, housekeeping, and amenities) are not For food, beverage, and merchandise sales, greens fees and associated cart rental, fitness activities, salon and spa services and other ancillary services, the transaction price is the set price charged by the Company for those goods or services. Upon purchase of the good or service, the Company transfers control of the good or service to the customer and the customer immediately consumes the benefits of the Company’s performance and, as such, we recognize revenue at the point of sale. Amounts paid in advance, such as deposits on overnight lodging or for banquet or conferences facilities, are recorded as a liability until the goods or services are provided to the customer (see Contract Liabilities below). The following table presents our net operating revenues disaggregated by revenue source for the three nine September 30, 2019 2018 Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Waste management and brokerage services $ 10,867 $ 12,009 $ 33,853 $ 30,779 Captive landfill management operations 705 548 2,055 1,746 Total waste management services revenues 11,572 12,557 35,908 32,525 Food, beverage and merchandise sales 2,587 2,285 6,027 5,531 Membership dues revenue 1,474 1,278 4,220 3,871 Room rental revenue 814 739 1,808 1,781 Greens fees and cart rental revenue 1,098 865 1,755 1,460 Other revenue 473 424 1,333 1,201 Total golf and related operations revenue 6,446 5,591 15,143 13,844 Total net operating revenues $ 18,018 $ 18,148 $ 51,051 $ 46,369 Avalon does not not Receivables, Net Receivables, net, include amounts billed and currently due from customers. The amounts due are stated at their net realizable value. At September 30, 2019 December 31, 2018, $9.7 $11.2 September 30, 2019 one 17% 15% December 31, 2018 two 25% 23% $1.3 September 30, 2019 $1.0 December 31, 2018. No one 10% September 30, 2019 December 31, 2018. The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will not $ 0.3 September 30, 2019 December 31, 2018. The following table presents changes in our allowance for doubtful accounts during the three nine September 30, 2019 2018 Provision Write-offs Balance at for Doubtful less Balance at Beginning of Period Accounts Recoveries End of Period Three months ended September 30, 2019 Allowance for doubtful accounts $ 267 $ 9 $ (3 ) $ 273 Three months ended September 30, 2018 Allowance for doubtful accounts $ 263 $ 11 $ (6 ) $ 268 Nine months ended September 30, 2019 Allowance for doubtful accounts $ 255 $ 27 $ (9 ) $ 273 Nine months ended September 30, 2018 Allowance for doubtful accounts $ 237 $ 34 $ (3 ) $ 268 Contract Assets Contract assets include unbilled membership dues receivables related to the Avalon Golf and Country Club for the customers membership commitment which are billed on a monthly basis over the course of the annual agreement. Such amounts are stated at their net realizable value. Contract assets related to unbilled membership dues are classified as current as revenue related to such agreements is recognized within the annual membership period. Unbilled membership receivables in our Condensed Consolidated Balance Sheets were approximately $0.9 September 30, 2019 $0.6 December 31, 2018. The following table presents changes in our contract assets during the three nine September 30, 2019 2018 Unbilled Balance at Membership Balance at Beginning of Period Dues Billings End of Period Three months ended September 30, 2019 Contract Assets: Unbilled membership dues receivable $ 1,101 $ 284 $ (532 ) $ 853 Three months ended September 30, 2018 Contract Assets: Unbilled membership dues receivable $ 1,009 $ 184 $ (419 ) $ 774 Nine months ended September 30, 2019 Contract Assets: Unbilled membership dues receivable $ 554 $ 1,813 $ (1,514 ) $ 853 Nine months ended September 30, 2018 Contract Assets: Unbilled membership dues receivable $ 580 $ 1,475 $ (1,281 ) $ 774 Contract Liabilities Contract liabilities include unrecognized or deferred revenues relating to membership dues and customer advance deposits. We record deferred revenue when cash payments are received in advance of satisfying our performance obligation. We classify deferred membership dues revenue as current based on the timing of when we expect to recognize revenue for the membership commitment based on the Company satisfying the stand ready performance obligation throughout the annual membership period. The unrecognized or deferred revenues related to membership dues in our Condensed Consolidated Balance Sheets at September 30, 2019 December 31, 2018 $3.9 $2.9 12 $ 0.5 September 30, 2019 December 31, 2018. The following table presents changes in our contract liabilities during the three nine September 30, 2019 2018 Balance at Revenue Balance at Beginning of Period Billings Recognized End of Period Three months ended September 30, 2019 Contract Liabilities: Deferred membership dues revenue $ 4,497 $ 831 $ (1,474 ) $ 3,854 Customer advance deposits $ 556 $ 438 $ (487 ) $ 507 Three months ended September 30, 2018 Contract Liabilities: Deferred membership dues revenue $ 4,034 $ 595 $ (1,278 ) $ 3,351 Customer advance deposits $ 491 $ 514 $ (582 ) $ 423 Nine months ended September 30, 2019 Contract Liabilities: Deferred membership dues revenue $ 2,899 $ 5,175 $ (4,220 ) $ 3,854 Customer advance deposits $ 453 $ 1,100 $ (1,046 ) $ 507 Nine months ended September 30, 2018 Contract Liabilities: Deferred membership dues revenue $ 2,718 $ 4,504 $ (3,871 ) $ 3,351 Customer advance deposits $ 430 $ 1,186 $ (1,193 ) $ 423 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6. Property and Equipment Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful life of the asset which varies from 10 30 5 50 3 10 Major additions and improvements are charged to the property and equipment accounts while replacements, maintenance and repairs, which do not Property and equipment at September 30, 2019 December 31, 2018 September 30, December 31, 2019 2018 Land and land improvements $ 14,612 $ 14,231 Buildings and improvements 42,413 36,185 Machinery and equipment 4,869 4,508 Office furniture and fixtures 6,964 6,458 Vehicles 499 455 Construction in progress 2,084 2,569 71,441 64,406 Less accumulated depreciation and amortization (23,222 ) (21,872 ) Property and equipment, net $ 48,219 $ 42,534 At September 30, 2019, not |
Note 7 - Leases
Note 7 - Leases | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating and Financing Leases [Text Block] | Note 7 . Leases In February 2016, 2016 02. 12 2016 02, January 1, 2019, 2016 02 Operating Leases Avalon leases golf carts, machinery and equipment for the landfill operations, furniture and fixtures for The Grand Resort, and office copiers under operating leases. On January 1, 2019, 2016 02, $1.7 1 5 3.2 September 30, 2019. In addition, in connection with the purchase of New Castle Country Club’s real property assets on May 13, 2019, $ 126,000 3 16 Leased property and associated obligations under operating leases at September 30, 2019 September 30, 2019 Operating lease right-of-use assets $ 1,505 Current portion of obligations under operating leases $ 528 Long-term portion of obligations under operating leases 977 Total obligations under operating leases $ 1,505 The weighted average discount rate on operating leases was 5.01% September 30, 2019. Finance Leases In November 2003, ten 10 four 4 ten 10 $15,000 $150,000 $150,000 September 30, 2019 34.1 In addition, the golf and related operations also entered into lease agreements for vehicles, golf course maintenance and restaurant equipment and the captive landfill operations entered into a lease for a piece of equipment which were determined to be finance leases. At September 30, 2019, 2 5 September 30, 2019. 2.3 September 30, 2019. Leased property and associated obligations under finance leases at September 30, 2019 December 31, 2018 September 30, December 31, 2019 2018 Leased property under finance leases $ 11,604 $ 11,442 Less accumulated amortization (5,750 ) (5,374 ) Leased property under finace leases, net $ 5,854 $ 6,068 Current portion of obligations under finance leases $ 250 $ 236 Long-term portion of obligations under finance leases 515 688 Total obligations under finance leases $ 765 $ 924 The weighted average discount rate on finance leases was 4.8% September 30, 2019 December 31, 2018. For the three nine September 30, 2019 2018, Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Operating lease cost $ 298 $ 195 $ 586 $ 446 Finance lease cost: Depreciation on right-of-use assets $ 124 $ 129 $ 376 $ 354 Interest on lease liabilities 11 13 33 38 Total finance lease cost $ 135 $ 142 $ 409 $ 392 Future commitments under long-term, operating leases and finance leases at September 30, 2019 Finance Operating Total 2020 $ 285 $ 593 $ 878 2021 251 496 747 2022 72 343 415 2023 33 175 208 2024 20 31 51 Thereafter 435 - 435 Total lease payments 1,096 1,638 2,734 Less imputed interest 331 133 464 Total 765 1,505 2,270 Less: current portion of obligations under leases 250 528 778 Long-term portion of obligations under leases $ 515 $ 977 $ 1,492 |
Note 8 - Basic and Diluted Net
Note 8 - Basic and Diluted Net Loss Per Share | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 8 . Basic and Diluted Net Income ( Loss ) p er Share Basic net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing the net loss by the weighted average number of common shares outstanding. For the three nine September 30, 2019 2018, 3,875,431 3,803,331 Diluted net income (loss) per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus any weighted common equivalent shares determined to be outstanding during the period using the treasury method. The weighted common equivalent shares included in the calculation are related to stock options granted by Avalon where the weighted average market price of Avalon’s common stock for the period presented is greater than the option exercise price of the stock option. For the three September 30, 2019 2018, 3,892,948 4,048,683, nine September 30, 2019, nine September 30, 2019 3,909,706. nine September 30, 2018, 3,895,129. |
Note 9 - Term Loans and Line of
Note 9 - Term Loans and Line of Credit Agreements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9. s and Line of Credit Agreements 2016 On December 20, 2016, “2016 $12.0 $9.1 May 21, 2015, 2016 $2.9 2016 September 30, 2019 2016 December 31, 2018, $0.5 December 4, 2017 2016 The $12.0 119 , fifteen 15 January 20, 2017. 2016 December 20, 2026 2016 5.35% fifth 5.35% two 2 3.95%, no 7.50% Avalon has the right to prepay the amount outstanding under the 2016 five 5% first five four 4% sixth seventh three 3% eighth ninth two 2% tenth Borrowings under the 2016 2016 2016 September 30, 2019 December 31, 2018. The Company incurred approximately $191,000 2016 2016 2015 03, Simplifying the Presentation of Debt Issuance Costs 2015 03” 2019 On March 29, 2019, “2019 $3.0 2019 September 30, 2019 2019 The $3.0 2019 92 , fifteen 15 April 20, 2019 one December 20, 2026. 2019 6.25% fifth 6.25% two 2 3.60%, no 8.50% Avalon has the right to prepay the amount outstanding under the 2019 five 5% first five two 2% seventh eighth Borrowings under the 2019 second 2019 2019 September 30, 2019. The Company incurred approximately $42,000 2019 2019 2015 03, Commercial Mortgage On May 13, 2019, 16 At closing the outstanding principal balance assumed under the Commercial Mortgage obligation was $653,000. $653,000 $950,000 110 $7,573 May 21, 2019 June 21, 2028. 5.50% June 21, 2023 4.25% 0.50%. Avalon has the right to prepay the amount outstanding under the Commercial Mortgage, in whole or in part, at any time upon payment of the principal amount of the loan to be prepaid plus accrued unpaid interest thereon to the prepayment date, with no Borrowings under the Commercial Mortgage are secured by a first Demand Line of Credit Under the Assumption Agreement Havana Cigar Shop, Inc. also assumed the Club’s $150,000 $134,000 third 2019, No September 30, 2019. Outstanding borrowings under the Commercial Demand Line of Credit bear interest at Prime Rate plus 0.50%. September 30, 2019, 5.50%. Borrowings under the Commercial Demand Line of Credit are secured by a second Line of Credit Agreement On May 31, 2018, $5.0 May 31, 2020. June 17, 2019, May 31, 2021. $1.0 December 20, 2016, 2016 No At September 30, 2019, $575,000 No December 31, 2018. .25%. September 30, 2019, 5.25%. Borrowings under the Line of Credit Agreement are secured by certain business assets of the Company including accounts receivable, inventory and equipment. The Line of Credit Agreement also contains certain financial and other covenants, customary representations, warranties and events of default. Avalon was in compliance with the line of credit agreements covenants at September 30, 2019 December 31, 2018. During the three September 30, 2019 2018, 5.53% 5.35%, nine September 30, 2019 2018, 5.48% 5.35%, Obligations under the Company’s term loan and mortgage agreements at September 30, 2019 December 31, 2018 September 30, 2019 Gross Amount Debt Issuance Costs Net Amount 2016 Term loan agreement $ 10,454 $ (139 ) $ 10,315 2019 Term loan agreement 2,934 (39 ) 2,895 Commercial Mortgage 630 - 630 Total 14,018 (178 ) 13,840 Less current portion 807 (25 ) 782 Long-term debt $ 13,211 $ (153 ) $ 13,058 December 31, 2018 Gross Amount Debt Issuance Costs Net Amount 2016 Term loan agreement $ 10,898 $ (153 ) $ 10,745 Less current portion 597 (19 ) 578 Long-term debt $ 10,301 $ (134 ) $ 10,167 Future maturities under the Company term loan and mortgage agreements are as follows (in thousands): For the Twelve Month Period Ending September 30, 2020 $ 807 2021 853 2022 901 2023 951 2024 1,005 Thereafter 9,501 Total $ 14,018 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 10 . Income Taxes During the three September 30, 2019 2018, $0.1 $0.8 nine September 30, 2019, $0.1 $0.7 nine September 30, 2018. three nine September 30, 2019 2018, not not On December 22, 2017, 740, “Income Taxes |
Note 11 - Long-term Incentive P
Note 11 - Long-term Incentive Plan | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 11 . Long-T erm Incentive Plan On March 14, 2019, 2009 “2009 October 2019. 2009 422 The name of the plan was changed to the 2019 2009 1,300,000 1,300,000 2009 2009 not 1,300,000. 2009 April 25, 2019, The purpose of the Avalon Holdings Corporation 2019 September 30, 2019, 760,000 2009 72,000 688,000 NQSO’s may not 100% not 110% ten not 100% may, one may not no ten ten no five No one no 6 not No may The stock options, vest ratably over a five ten three not 2018, not not three The grant-date fair values of the stock option awards were estimated using the Monte Carlo Simulation. The Monte Carlo Simulation was selected to determine the fair value because it incorporates six 1 2 3 4 5 6 The grant date fair value of the underlying equity was determined to be equal to Avalon’s publicly traded stock price as of the grant dates times the sum of the Class A and Class B common shares outstanding. The expected term, or time until the option is exercised, is typically based on historical exercising behavior of previous option holders of a company’s stock. Due to the fact that the Company has had no 2018, five For stock option awards, the expected volatility was based on the observed historical volatility of Avalon common stock. There were no The following table is a summary of the stock option activity during 2019: Weighted Weighted Number of Average Average Options Exercise Fair Value at Granted Price Grant Date Outstanding at January 1, 2019 688,000 2.52 1.00 Options granted - - - Options exercised - - - Options cancelled or forfeited - - - Outstanding at September 30, 2019 688,000 $ 2.52 $ 1.00 Options Vested 652,000 $ 2.56 $ 1.03 Exercisable at September 30, 2019 634,000 $ 2.58 $ 1.05 The stock options vest and become exercisable based upon achieving two 1 Contract Vesting Term: The stock options vest ratably over a five 2 The Avalon common stock price traded on a public stock exchange (NYSE Amex) must reach the predetermined vesting price within three The table below represents the period and predetermined stock price needed for vesting. Begins Ends Predetermined Vesting Vesting Vesting Price Block 1 12 months after Grant Dates 48 months after Grant Dates $ 3.43 Block 2 24 months after Grant Dates 60 months after Grant Dates $ 4.69 Block 3 36 months after Grant Dates 72 months after Grant Dates $ 6.43 Block 4 48 months after Grant Dates 84 months after Grant Dates $ 8.81 Block 5 60 months after Grant Dates 96 months after Grant Dates $ 12.07 Compensation costs were approximately $1,000 $2,000 three September 30, 2019 2018, $4,000 $5,000 nine September 30, 2019 2018, September 30, 2019, $19,000 4.67 |
Note 12 - Legal Matters
Note 12 - Legal Matters | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note 12 . Legal Matters In the ordinary course of conducting its business, Avalon becomes involved in lawsuits, administrative proceedings and governmental investigations, including those related to environmental matters. Some of these proceedings may may not 15 |
Note 13 - Business Segment Info
Note 13 - Business Segment Information | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 13 . Business Segment Information In determining the segment information, Avalon considered its operating and management structure and the types of information subject to regular review by its “chief operating decision maker.” Using the criteria of FASB ASC 280 Segment Reporting third Avalon’s primary business segment, the waste management services segment, provides hazardous and nonhazardous brokerage and management services to industrial, commercial, municipal and governmental customers, captive landfill management for an industrial customer and salt water injection well operations. Avalon’s golf and related operations segment consists of four Avalon does not not For both the nine September 30, 2019 2018, no one 10% The accounting policies of the segments are consistent with those described for the consolidated financial statements in the summary of significant accounting policies included in Avalon’s 2018 Business segment information including the reconciliation of segment income before taxes to income (loss) before taxes is as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Net operating revenues from: Waste management services: External customer revenues $ 11,572 $ 12,557 $ 35,908 $ 32,525 Intersegment revenues - - - - Total waste management services 11,572 12,557 35,908 32,525 Golf and related operations: External customer revenues 6,446 5,591 15,143 13,844 Intersegment revenues 10 15 45 57 Total golf and related operations 6,456 5,606 15,188 13,901 Segment operating revenues 18,028 18,163 51,096 46,426 Intersegment eliminations (10 ) (15 ) (45 ) (57 ) Total net operating revenues $ 18,018 $ 18,148 $ 51,051 $ 46,369 Income (loss) before income taxes: Waste management services $ 1,074 $ 1,244 $ 3,295 $ 2,768 Golf and related operations 100 455 (363 ) 455 Segment income before income taxes 1,174 1,699 2,932 3,223 Corporate interest expense (203 ) (154 ) (551 ) (474 ) Corporate other income, net 3 1 51 14 General corporate expenses (810 ) (741 ) (2,379 ) (2,318 ) Income before income taxes $ 164 $ 805 $ 53 $ 445 September 30, December 31, 2019 2018 Identifiable assets: Waste management services $ 29,107 $ 27,383 Golf and related operations 55,297 48,074 Corporate 49,925 47,394 Subtotal 134,329 122,851 Elimination of intersegment receivables (63,270 ) (58,082 ) Total $ 71,059 $ 64,769 In comparing the total assets at September 30, 2019 December 31, 2018, $1.7 $7.2 $2.5 |
Note 14 - Certain Relationships
Note 14 - Certain Relationships and Related Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 14. In August 2013, In 2014 2013, $3.4 $3.8 2014 2013. $1.0 As a result of a private placement offering, Avalon is not September 30, 2019 December 31, 2018, 47% 810 10 , 810 10 |
Note 15 - Injection Wells Suspe
Note 15 - Injection Wells Suspension | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Suspended Injection Well Costs Disclosure [Text Block] | Note 15 . Injection Wells Suspension As a result of a seismic event with a magnitude of 2.1 August 31, 2014, September 3, 2014 two two On September 5, 2014, #1 September 18, 2014. September 19, 2014, #2 not On October 2, 2014, #2 March 11, 2015, #2 On August 12, 2015, #2 Avalon appealed that decision to the Franklin County Court of Common Pleas (the “Court”), and on November 1, 2016 December 23, 2016, 26 not On February 21, 2017, #2 February 22, 2017, 10th March 21, 2017. On September 14, 2017, 10 th July 31, 2018 On September 12, 2018, 10 th November 21, 2018, not 10 th February 21, 2017 #2 Based on the Supreme Court of Ohio’s decision not not not fourth 2018, $3.3 On April 5, 2019, no no August 13, 2019. Concurrently with the filing of the appeal with the Franklin County Court of Common Pleas, the Company filed a writ of mandamus in the 10 th August 30, 2019 #2 In addition, on August 26, 2016, 11 th 19 163. On March 18, 2019, 11 th April 5, 2019. not |
Note 16 - Asset Acquisitions
Note 16 - Asset Acquisitions | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Asset Acquisition [Text Block] | Note 16. Asset Acquisition s Boardman Tennis Center property On March 7, 2018, $1.3 2017 In the third 2018, first 2019. The Avalon Athletic Club at Boardman is currently in operation. The operating results are included in the Company’s Condensed Consolidated Statements of Operations and within Avalon’s golf and related operations segment from the date of acquisition. The net operating revenues and results of operations related to the Avalon Athletic Club at Boardman from the period of acquisition are not not The acquisition of the facility and its associated subsequent renovation is consistent with the Company’s athletics and fitness business strategy. Members of the Avalon Golf and Country Club have access to the facility and all the athletic and fitness related activities offered by the Avalon Athletic Club at Boardman. In addition, hotel guests at The Grand Resort can utilize the facility during their stay. The Avalon Athletic Club at Boardman earns revenue through membership fees, athletic and fitness related activities. The Company accounted for the acquisition of the Avalon Athletic Club at Boardman in accordance with ASU 2017 01. 2017 01, 2017 01, The following table summarizes the fair values of the assets acquired and liabilities assumed at the transaction date (in thousands): Assets acquired: Building and land $ 1,302 Total assets acquired: 1,302 Liabilities assumed: Accrued liabilities 33 Total liabilities assumed 33 Total consideration $ 1,269 New Castle Country Club property On May 13, 2019, $0.8 9 Subsequent to the asset Purchase and Sale Agreement, Havana Cigar Shop, Inc. was named The Avalon Field Club at New Castle. The Avalon Field Club at New Castle is currently in operation. The operating results are included in the Company’s Condensed Consolidated Statements of Operations and within Avalon’s golf and related operations segment from the date of acquisition. The net operating revenues and results of operations related to The Avalon Field Club at New Castle from the period of acquisition are not not The acquisition is consistent with the Company’s golf operations business strategy as members of the Avalon Golf and Country Club have access to all the golf and related country club activities offered by The Avalon Field Club at New Castle. In addition, hotel guests at The Grand Resort can utilize the facility during their stay. The Avalon Field Club at New Castle earns revenue through membership dues, food, beverage and merchandise sales, greens fees and associated cart rentals. The Company accounted for the acquisition of The Avalon Field Club at New Castle in accordance with ASU 2017 01. 2017 01, 2017 01, In accordance with ASU 2017 01, $67,000 The Avalon Field Club also assumed the remaining term of the Club’s golf cart operating lease. At acquisition the Company recorded an operating lease right-of-use asset and corresponding obligation under operating leases of approximately $ 126,000 3 The following table summarizes the fair values of the assets acquired and liabilities assumed at the transaction date (in thousands): Assets acquired: Building and land $ 854 Operating lease right-of-use assets 126 Prepaid real estate taxes 23 Total assets acquired: 1,003 Liabilities assumed: Commercial mortgage 653 Demand line of credit 134 Obligations under operating leases 126 Total liabilities assumed 913 Total consideration $ 90 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The unaudited condensed consolidated financial statements of Avalon and related notes included herein have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted consistent with such rules and regulations. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and related notes included in Avalon’s 2018 The unaudited condensed consolidated financial statements include the accounts of Avalon, its wholly owned subsidiaries and those companies in which Avalon has managerial control. All significant intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the financial position of Avalon as of September 30, 2019, The operating results for the interim periods are not |
Note 4 - Cash, Cash Equivalen_2
Note 4 - Cash, Cash Equivalents and Restricted Cash (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | September 30, December 31, 2019 2018 Cash and cash equivalents $ 1,942 $ 1,406 Restricted cash - 502 Cash, cash equivalents and restricted cash $ 1,942 $ 1,908 |
Note 5 - Revenues (Tables)
Note 5 - Revenues (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Waste management and brokerage services $ 10,867 $ 12,009 $ 33,853 $ 30,779 Captive landfill management operations 705 548 2,055 1,746 Total waste management services revenues 11,572 12,557 35,908 32,525 Food, beverage and merchandise sales 2,587 2,285 6,027 5,531 Membership dues revenue 1,474 1,278 4,220 3,871 Room rental revenue 814 739 1,808 1,781 Greens fees and cart rental revenue 1,098 865 1,755 1,460 Other revenue 473 424 1,333 1,201 Total golf and related operations revenue 6,446 5,591 15,143 13,844 Total net operating revenues $ 18,018 $ 18,148 $ 51,051 $ 46,369 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Provision Write-offs Balance at for Doubtful less Balance at Beginning of Period Accounts Recoveries End of Period Three months ended September 30, 2019 Allowance for doubtful accounts $ 267 $ 9 $ (3 ) $ 273 Three months ended September 30, 2018 Allowance for doubtful accounts $ 263 $ 11 $ (6 ) $ 268 Nine months ended September 30, 2019 Allowance for doubtful accounts $ 255 $ 27 $ (9 ) $ 273 Nine months ended September 30, 2018 Allowance for doubtful accounts $ 237 $ 34 $ (3 ) $ 268 |
Contract with Customer, Asset and Liability [Table Text Block] | Unbilled Balance at Membership Balance at Beginning of Period Dues Billings End of Period Three months ended September 30, 2019 Contract Assets: Unbilled membership dues receivable $ 1,101 $ 284 $ (532 ) $ 853 Three months ended September 30, 2018 Contract Assets: Unbilled membership dues receivable $ 1,009 $ 184 $ (419 ) $ 774 Nine months ended September 30, 2019 Contract Assets: Unbilled membership dues receivable $ 554 $ 1,813 $ (1,514 ) $ 853 Nine months ended September 30, 2018 Contract Assets: Unbilled membership dues receivable $ 580 $ 1,475 $ (1,281 ) $ 774 Balance at Revenue Balance at Beginning of Period Billings Recognized End of Period Three months ended September 30, 2019 Contract Liabilities: Deferred membership dues revenue $ 4,497 $ 831 $ (1,474 ) $ 3,854 Customer advance deposits $ 556 $ 438 $ (487 ) $ 507 Three months ended September 30, 2018 Contract Liabilities: Deferred membership dues revenue $ 4,034 $ 595 $ (1,278 ) $ 3,351 Customer advance deposits $ 491 $ 514 $ (582 ) $ 423 Nine months ended September 30, 2019 Contract Liabilities: Deferred membership dues revenue $ 2,899 $ 5,175 $ (4,220 ) $ 3,854 Customer advance deposits $ 453 $ 1,100 $ (1,046 ) $ 507 Nine months ended September 30, 2018 Contract Liabilities: Deferred membership dues revenue $ 2,718 $ 4,504 $ (3,871 ) $ 3,351 Customer advance deposits $ 430 $ 1,186 $ (1,193 ) $ 423 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, December 31, 2019 2018 Land and land improvements $ 14,612 $ 14,231 Buildings and improvements 42,413 36,185 Machinery and equipment 4,869 4,508 Office furniture and fixtures 6,964 6,458 Vehicles 499 455 Construction in progress 2,084 2,569 71,441 64,406 Less accumulated depreciation and amortization (23,222 ) (21,872 ) Property and equipment, net $ 48,219 $ 42,534 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Lessee, Operating Lease Assets and Liabilities [Table Text Block] | September 30, 2019 Operating lease right-of-use assets $ 1,505 Current portion of obligations under operating leases $ 528 Long-term portion of obligations under operating leases 977 Total obligations under operating leases $ 1,505 |
Lessee, Financing Lease Assets and Liabilities [Table Text Block] | September 30, December 31, 2019 2018 Leased property under finance leases $ 11,604 $ 11,442 Less accumulated amortization (5,750 ) (5,374 ) Leased property under finace leases, net $ 5,854 $ 6,068 Current portion of obligations under finance leases $ 250 $ 236 Long-term portion of obligations under finance leases 515 688 Total obligations under finance leases $ 765 $ 924 |
Lease, Cost [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Operating lease cost $ 298 $ 195 $ 586 $ 446 Finance lease cost: Depreciation on right-of-use assets $ 124 $ 129 $ 376 $ 354 Interest on lease liabilities 11 13 33 38 Total finance lease cost $ 135 $ 142 $ 409 $ 392 |
Schedule Of Future Minimum Lease Payments [Table Text Block] | Finance Operating Total 2020 $ 285 $ 593 $ 878 2021 251 496 747 2022 72 343 415 2023 33 175 208 2024 20 31 51 Thereafter 435 - 435 Total lease payments 1,096 1,638 2,734 Less imputed interest 331 133 464 Total 765 1,505 2,270 Less: current portion of obligations under leases 250 528 778 Long-term portion of obligations under leases $ 515 $ 977 $ 1,492 |
Note 9 - Term Loans and Line _2
Note 9 - Term Loans and Line of Credit Agreements (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30, 2019 Gross Amount Debt Issuance Costs Net Amount 2016 Term loan agreement $ 10,454 $ (139 ) $ 10,315 2019 Term loan agreement 2,934 (39 ) 2,895 Commercial Mortgage 630 - 630 Total 14,018 (178 ) 13,840 Less current portion 807 (25 ) 782 Long-term debt $ 13,211 $ (153 ) $ 13,058 December 31, 2018 Gross Amount Debt Issuance Costs Net Amount 2016 Term loan agreement $ 10,898 $ (153 ) $ 10,745 Less current portion 597 (19 ) 578 Long-term debt $ 10,301 $ (134 ) $ 10,167 |
Schedule of Maturities of Long-term Debt [Table Text Block] | For the Twelve Month Period Ending September 30, 2020 $ 807 2021 853 2022 901 2023 951 2024 1,005 Thereafter 9,501 Total $ 14,018 |
Note 11 - Long-term Incentive_2
Note 11 - Long-term Incentive Plan (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Number of Average Average Options Exercise Fair Value at Granted Price Grant Date Outstanding at January 1, 2019 688,000 2.52 1.00 Options granted - - - Options exercised - - - Options cancelled or forfeited - - - Outstanding at September 30, 2019 688,000 $ 2.52 $ 1.00 Options Vested 652,000 $ 2.56 $ 1.03 Exercisable at September 30, 2019 634,000 $ 2.58 $ 1.05 |
Schedule Of Period And Predetermined Stock Price Needed For Vesting [Table Text Block] | Begins Ends Predetermined Vesting Vesting Vesting Price Block 1 12 months after Grant Dates 48 months after Grant Dates $ 3.43 Block 2 24 months after Grant Dates 60 months after Grant Dates $ 4.69 Block 3 36 months after Grant Dates 72 months after Grant Dates $ 6.43 Block 4 48 months after Grant Dates 84 months after Grant Dates $ 8.81 Block 5 60 months after Grant Dates 96 months after Grant Dates $ 12.07 |
Note 13 - Business Segment In_2
Note 13 - Business Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Net operating revenues from: Waste management services: External customer revenues $ 11,572 $ 12,557 $ 35,908 $ 32,525 Intersegment revenues - - - - Total waste management services 11,572 12,557 35,908 32,525 Golf and related operations: External customer revenues 6,446 5,591 15,143 13,844 Intersegment revenues 10 15 45 57 Total golf and related operations 6,456 5,606 15,188 13,901 Segment operating revenues 18,028 18,163 51,096 46,426 Intersegment eliminations (10 ) (15 ) (45 ) (57 ) Total net operating revenues $ 18,018 $ 18,148 $ 51,051 $ 46,369 Income (loss) before income taxes: Waste management services $ 1,074 $ 1,244 $ 3,295 $ 2,768 Golf and related operations 100 455 (363 ) 455 Segment income before income taxes 1,174 1,699 2,932 3,223 Corporate interest expense (203 ) (154 ) (551 ) (474 ) Corporate other income, net 3 1 51 14 General corporate expenses (810 ) (741 ) (2,379 ) (2,318 ) Income before income taxes $ 164 $ 805 $ 53 $ 445 September 30, December 31, 2019 2018 Identifiable assets: Waste management services $ 29,107 $ 27,383 Golf and related operations 55,297 48,074 Corporate 49,925 47,394 Subtotal 134,329 122,851 Elimination of intersegment receivables (63,270 ) (58,082 ) Total $ 71,059 $ 64,769 |
Note 16 - Asset Acquisitions (T
Note 16 - Asset Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
New Castle Country Club [Member] | |
Notes Tables | |
Asset Acquisition [Table Text Block] | Assets acquired: Building and land $ 854 Operating lease right-of-use assets 126 Prepaid real estate taxes 23 Total assets acquired: 1,003 Liabilities assumed: Commercial mortgage 653 Demand line of credit 134 Obligations under operating leases 126 Total liabilities assumed 913 Total consideration $ 90 |
Boardman Tennis Center [Member] | |
Notes Tables | |
Asset Acquisition [Table Text Block] | Assets acquired: Building and land $ 1,302 Total assets acquired: 1,302 Liabilities assumed: Accrued liabilities 33 Total liabilities assumed 33 Total consideration $ 1,269 |
Note 1 - Description of Busin_2
Note 1 - Description of Business (Details Textual) | 9 Months Ended |
Sep. 30, 2019 | |
Golf and Related Operations [Member] | |
Number of Golf Courses | 4 |
Note 3 - Recent Accounting Pr_2
Note 3 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Liability, Total | $ 1,505 | ||
Operating Lease, Right-of-Use Asset | $ 1,505 | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Liability, Total | $ 1,700 | ||
Operating Lease, Right-of-Use Asset | $ 1,700 |
Note 4 - Cash, Cash Equivalen_3
Note 4 - Cash, Cash Equivalents and Restricted Cash - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Cash and cash equivalents | $ 1,942 | $ 1,406 |
Restricted cash | 502 | |
Cash, cash equivalents and restricted cash | $ 1,942 | $ 1,908 |
Note 5 - Revenues (Details Text
Note 5 - Revenues (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 03, 2014 | |
Number of Suspended Saltwater Injection Wells | 2 | 2 | 2 | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 18,018 | $ 18,148 | $ 51,051 | $ 46,369 | |||||
Membership Agreement, Term | 1 year | ||||||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 300 | $ 300 | $ 300 | ||||||
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 853 | 774 | $ 1,101 | 853 | $ 774 | 554 | $ 1,009 | $ 580 | |
Contract with Customer, Liability, Total | 3,900 | $ 3,900 | $ 2,900 | ||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||||||
Number of Major Customers | 0 | 0 | |||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||||||
Concentration Risk, Percentage | 15.00% | ||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member] | |||||||||
Concentration Risk, Percentage | 23.00% | ||||||||
Waste Management Services [Member] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 11,572 | $ 12,557 | $ 35,908 | $ 32,525 | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Percentage | 64.00% | 69.00% | 70.00% | 70.00% | |||||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 9,700 | $ 9,700 | $ 11,200 | ||||||
Waste Management Services [Member] | Maximum [Member] | |||||||||
Contract Term | 1 year | ||||||||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||||||
Number of Major Customers | 0 | 0 | |||||||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||||||
Number of Major Customers | 1 | 2 | |||||||
Concentration Risk, Percentage | 17.00% | ||||||||
Waste Management Services [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member] | |||||||||
Concentration Risk, Percentage | 25.00% | ||||||||
Golf and Related Operations [Member] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 6,446 | $ 5,591 | $ 15,143 | $ 13,844 | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Percentage | 36.00% | 31.00% | 30.00% | 30.00% | |||||
Number of Golf Courses | 4 | ||||||||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 1,300 | $ 1,300 | $ 1,000 | ||||||
Golf and Related Operations [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||||||
Number of Major Customers | 0 | 0 | |||||||
Golf and Related Operations [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||||||
Number of Major Customers | 0 | 0 | |||||||
Salt Water Injection Operations [Member] | Waste Management Services [Member] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 0 | ||||||||
Customer Advance Deposits [Member] | |||||||||
Contract with Customer, Liability, Total | $ 507 | $ 423 | $ 556 | $ 507 | $ 423 | $ 453 | $ 491 | $ 430 |
Note 5 - Revenues - Disaggregat
Note 5 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 18,018 | $ 18,148 | $ 51,051 | $ 46,369 |
Waste Management Services [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 11,572 | 12,557 | 35,908 | 32,525 |
Waste Management Services [Member] | Waste Brokerage And Management Services Member | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 10,867 | 12,009 | 33,853 | 30,779 |
Waste Management Services [Member] | Captive Landfill Management Operations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 705 | 548 | 2,055 | 1,746 |
Golf and Related Operations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 6,446 | 5,591 | 15,143 | 13,844 |
Golf and Related Operations [Member] | Food and Beverage [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 2,587 | 2,285 | 6,027 | 5,531 |
Golf and Related Operations [Member] | Membership Dues [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 1,474 | 1,278 | 4,220 | 3,871 |
Golf and Related Operations [Member] | Room Rental [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 814 | 739 | 1,808 | 1,781 |
Golf and Related Operations [Member] | Green Fees and Cart Rental [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 1,098 | 865 | 1,755 | 1,460 |
Golf and Related Operations [Member] | Other Revenue [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 473 | $ 424 | $ 1,333 | $ 1,201 |
Note 5 - Revenues - Allowance f
Note 5 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Allowance for doubtful accounts, Balance | $ 267 | $ 263 | $ 255 | $ 237 |
Provision for losses on accounts receivable | 9 | 11 | 27 | 34 |
Write-offs | (3) | (9) | ||
Allowance for doubtful accounts, Balance | $ 273 | 268 | $ 273 | 268 |
Recoveries | $ (6) | $ (3) |
Note 5 - Revenues - Contract As
Note 5 - Revenues - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Balance | $ 1,101 | $ 1,009 | $ 554 | $ 580 |
Unbilled membership dues | 284 | 184 | 1,813 | 1,475 |
Billings | (532) | (419) | (1,514) | (1,281) |
Balance | 853 | 774 | 853 | 774 |
Balance | 2,900 | |||
Balance | 3,900 | 3,900 | ||
Deferred Membership Dues [Member] | ||||
Balance | 4,497 | 4,034 | 2,899 | 2,718 |
Billings | 831 | 595 | 5,175 | 4,504 |
Revenue recognized | (1,474) | (1,278) | (4,220) | (3,871) |
Balance | 3,854 | 3,351 | 3,854 | 3,351 |
Billings | 831 | 595 | 5,175 | 4,504 |
Revenue recognized | (1,474) | (1,278) | (4,220) | (3,871) |
Customer Advance Deposits [Member] | ||||
Balance | 556 | 491 | 453 | 430 |
Billings | 438 | 514 | 1,100 | 1,186 |
Revenue recognized | (487) | (582) | (1,046) | (1,193) |
Balance | 507 | 423 | 507 | 423 |
Billings | 438 | 514 | 1,100 | 1,186 |
Revenue recognized | $ (487) | $ (582) | $ (1,046) | $ (1,193) |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) | 9 Months Ended |
Sep. 30, 2019 | |
Land Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Land Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 30 years |
Building and Building Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 5 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 50 years |
Vehicles [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Vehicles [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Property and equipment, gross | $ 71,441 | $ 64,406 |
Less accumulated depreciation and amortization | (23,222) | (21,872) |
Property and equipment, net | 48,219 | 42,534 |
Land and Land Improvements [Member] | ||
Property and equipment, gross | 14,612 | 14,231 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | 42,413 | 36,185 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | 4,869 | 4,508 |
Office Equipment [Member] | ||
Property and equipment, gross | 6,964 | 6,458 |
Vehicles [Member] | ||
Property and equipment, gross | 499 | 455 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 2,084 | $ 2,569 |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) | May 13, 2019USD ($) | Nov. 30, 2003 | Sep. 30, 2019USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) |
Operating Lease, Liability, Total | $ 1,505,000 | ||||
Operating Lease, Right-of-Use Asset | $ 1,505,000 | ||||
Operating Lease, Weighted Average Remaining Lease Term | 3 years 73 days | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 5.01% | ||||
Lessee, Finance Lease, Term of Contract | 10 years | ||||
Number of Consecutive Renewal Term Options | 4 | ||||
Lessee, Finance Lease, Renewal Term | 10 years | ||||
Lessee, Finance Lease, Annual Rent | $ 15,000 | ||||
Leasehold Improvements Required to be Made Per Year | $ 150,000 | ||||
Finance Lease, Remaining Term Of Contract | 34 years 36 days | ||||
Finance Lease, Weighted Average Remaining Lease Term | 2 years 109 days | ||||
Finance Lease, Weighted Average Discount Rate, Percent | 4.80% | 4.80% | |||
Minimum [Member] | |||||
Lessee, Operating Lease, Remaining Term Of Contract | 1 year | ||||
Minimum [Member] | Golf and Related Operations [Member] | |||||
Finance Lease, Remaining Term Of Contract | 2 years | ||||
Maximum [Member] | |||||
Lessee, Operating Lease, Remaining Term Of Contract | 5 years | ||||
Maximum [Member] | Golf and Related Operations [Member] | |||||
Finance Lease, Remaining Term Of Contract | 5 years | ||||
Accounting Standards Update 2016-02 [Member] | |||||
Operating Lease, Liability, Total | $ 1,700,000 | ||||
Operating Lease, Right-of-Use Asset | 1,700,000 | ||||
New Castle Country Club [Member] | |||||
Operating Lease, Liability, Total | $ 126,000 | $ 1,700,000 | |||
Operating Lease, Right-of-Use Asset | $ 126,000 | ||||
New Castle Country Club [Member] | Vehicles [Member] | |||||
Lessee, Operating Lease, Remaining Term Of Contract | 3 years |
Note 7 - Leases - Operating Lea
Note 7 - Leases - Operating Leases Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Operating Lease, Right-of-Use Asset | $ 1,505 | |
Less: current portion of obligations under leases | 528 | |
Long-term portion of obligations under leases | 977 | |
Total obligations under operating leases | $ 1,505 |
Note 7 - Leases - Financing Lea
Note 7 - Leases - Financing Leases Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Leased property under finance leases | $ 11,604 | $ 11,442 |
Less accumulated amortization | (5,750) | (5,374) |
Leased property under finance leases, net | 5,854 | 6,068 |
Less: current portion of obligations under leases | 250 | 236 |
Long-term portion of obligations under leases | 515 | 688 |
Total obligations under finance leases | $ 765 | $ 924 |
Note 7 - Leases - Lease Cost (D
Note 7 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Operating lease cost | $ 298 | $ 195 | $ 586 | $ 446 |
Depreciation on right-of-use assets | 124 | 129 | 376 | 354 |
Interest on lease liabilities | (11) | (13) | (33) | (38) |
Total finance lease cost | $ 135 | $ 142 | $ 409 | $ 392 |
Note 7 - Leases - Future Commit
Note 7 - Leases - Future Commitments Under Long-Term Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
2020 | $ 285 | |
2020 | 593 | |
2020 | 878 | |
2021 | 251 | |
2021 | 496 | |
2021 | 747 | |
2022 | 72 | |
2022 | 343 | |
2022 | 415 | |
2023 | 33 | |
2023 | 175 | |
2023 | 208 | |
2024 | 20 | |
2024 | 31 | |
2024 | 51 | |
Thereafter | 435 | |
Thereafter | ||
Thereafter | 435 | |
Total lease payments, Finance Lease | 1,096 | |
Total lease payments, Operating Lease | 1,638 | |
Total lease payments | 2,734 | |
Less imputed interest | 331 | |
Less imputed interest | 133 | |
Less imputed interest | 464 | |
Total | 765 | $ 924 |
Operating Lease, Liability, Total | 1,505 | |
Total | 2,270 | |
Less: current portion of obligations under leases | 250 | 236 |
Less: current portion of obligations under leases | 528 | |
Less: current portion of obligations under leases | 778 | |
Long-term portion of obligations under leases | 515 | 688 |
Long-term portion of obligations under leases | 977 | |
Long-term portion of obligations under leases | $ 1,492 |
Note 8 - Basic and Diluted Ne_2
Note 8 - Basic and Diluted Net Loss Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Weighted Average Number of Shares Outstanding, Basic, Total | 3,875,431 | 3,803,331 | 3,875,431 | 3,803,331 |
Weighted Average Number of Shares Outstanding, Assuming Dilution | 3,892,948 | 4,048,683 | 3,909,706 | 3,895,129 |
Note 9 - Term Loans and Line _3
Note 9 - Term Loans and Line of Credit Agreements (Details Textual) - USD ($) | May 13, 2019 | Mar. 29, 2019 | May 31, 2018 | Dec. 20, 2016 | Jun. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 |
Long-term Debt, Gross | $ 14,018,000 | $ 14,018,000 | ||||||||
Repayments of Lines of Credit | 134,000 | |||||||||
Restricted Cash and Cash Equivalents, Noncurrent, Total | $ 502,000 | |||||||||
Debt Issuance Costs, Net, Total | 178,000 | 178,000 | ||||||||
Restricted Cash and Investments, Noncurrent, Total | $ 3,000,000 | |||||||||
Long-term Line of Credit, Noncurrent | $ 575,000 | $ 575,000 | ||||||||
Long-term Debt, Weighted Average Interest Rate, over Time | 5.53% | 5.35% | 5.48% | 5.35% | ||||||
Term Loan Agreement [Member] | ||||||||||
Long-term Debt, Gross | $ 10,454,000 | $ 10,454,000 | 10,898,000 | |||||||
Debt Issuance Costs, Net, Total | $ 139,000 | $ 139,000 | 153,000 | |||||||
Term Loan Agreement [Member] | Laurel Capital Corporation [Member] | ||||||||||
Long-term Debt, Gross | $ 12,000,000 | |||||||||
Restricted Cash and Cash Equivalents, Noncurrent, Total | $ 2,900,000 | 500,000 | ||||||||
Debt Instrument, Periodic Payment, Number of Payments | 119 | |||||||||
Debt Instrument, Maturity Schedule | 15 years | |||||||||
Debt Instrument, Interest Rate, Stated Percentage, First Five Years | 5.35% | |||||||||
Debt Instrument, Interest Rate, Stated Percentage, After Year Five, if Greater Than Sum of Index Rate and 3.95% | 5.35% | |||||||||
Debt Instrument, Interest Rate, Stated Percentage, After Year Five, Plus Index Rate, if Greater Than 5.35% | 3.95% | |||||||||
Debt Instrument, Maximum Interest Rate, Years Six Through Ten | 7.50% | |||||||||
Debt Instrument, Prepayment Penalty, Percentage, First Five Years | 5.00% | |||||||||
Debt Instrument, Prepayment Penalty, Percentage, Years Six and Seven | 4.00% | |||||||||
Debt Instrument, Prepayment Penalty, Percentage, Years Eight and Nine | 3.00% | |||||||||
Debt Instrument, Prepayment Penalty, Percentage, Year Ten | 2.00% | |||||||||
Debt Issuance Costs, Net, Total | $ 191,000 | |||||||||
The Line of Credit Agreement [Member] | Home Savings Bank [Member] | ||||||||||
Repayments of Lines of Credit | $ 9,100,000 | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | |||||||||
Long-term Line of Credit, Total | 0 | |||||||||
Line of Credit Facility, Interest Rate at Period End | 5.25% | 5.25% | ||||||||
Line of Credit Facility, Amounts in Excess of, Subject to Borrowing Base | $ 1,000,000 | |||||||||
Long-term Line of Credit, Noncurrent | $ 575,000 | $ 575,000 | $ 0 | |||||||
The Line of Credit Agreement [Member] | Home Savings Bank [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | |||||||||
The 2019 Term Loan Agreement [Member] | ||||||||||
Long-term Debt, Gross | 2,934,000 | 2,934,000 | ||||||||
Debt Issuance Costs, Net, Total | 39,000 | 39,000 | ||||||||
The 2019 Term Loan Agreement [Member] | Laurel Capital Corporation [Member] | ||||||||||
Long-term Debt, Gross | $ 3,000,000 | |||||||||
Debt Instrument, Periodic Payment, Number of Payments | 92 | |||||||||
Debt Instrument, Maturity Schedule | 15 years | |||||||||
Debt Instrument, Interest Rate, Stated Percentage, First Five Years | 6.25% | |||||||||
Debt Instrument, Maximum Interest Rate, Years Six Through Ten | 8.50% | |||||||||
Debt Instrument, Prepayment Penalty, Percentage, First Five Years | 5.00% | |||||||||
Debt Issuance Costs, Net, Total | $ 42,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage, After Year Five, if Greater Than Sum of Index Rate and 3.60% | 6.25% | |||||||||
Debt Instrument, Interest Rate, Stated Percentage, After Year Five, Plus Index Rate, If Greater Than 6.25% | 3.60% | |||||||||
Debt Instrument, Prepayment Penalty, Percentage, Years Six, Seven, And Eight | 2.00% | |||||||||
New Castle Country Club Commercial Mortgage [Member] | ||||||||||
Long-term Debt, Gross | 630,000 | 630,000 | ||||||||
Debt Issuance Costs, Net, Total | ||||||||||
New Castle Country Club Commercial Mortgage [Member] | Mercer County State Bank [Member] | ||||||||||
Long-term Debt, Gross | $ 653,000 | |||||||||
Debt Instrument, Periodic Payment, Number of Payments | 110 | |||||||||
Debt Instrument, Face Amount | $ 950,000 | |||||||||
Debt Instrument, Periodic Payment, Total | $ 7,573 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | |||||||||
Debt Instrument, Stated Percentage, After June 21, 2023 | 4.25% | |||||||||
New Castle Country Club Commercial Mortgage [Member] | Mercer County State Bank [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument, Basis Spread On Variable Rate, After June 21, 2023 | 0.50% | |||||||||
New Castle Country Club Commercial Demand Line of Credit [Member] | Mercer County State Bank [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 150,000 | |||||||||
Long-term Line of Credit, Total | $ 134,000 | |||||||||
Proceeds from Lines of Credit, Total | $ 0 | |||||||||
Line of Credit Facility, Interest Rate at Period End | 5.50% | 5.50% | ||||||||
New Castle Country Club Commercial Demand Line of Credit [Member] | Mercer County State Bank [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% |
Note 9 - Term Loans and Line _4
Note 9 - Term Loans and Line of Credit Agreements - Summary of Term Loan and Line of Credit Agreements (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Long-term debt, gross | $ 14,018 | |
Debt issuance costs | (178) | |
Long-term debt | 13,840 | |
Debt issuance costs | 178 | |
Less current portion of long-term debt, gross | 807 | $ 597 |
Less current portion debt issuance costs | (25) | (19) |
Less current portion of long-term debt | 782 | 578 |
Long-term debt, gross, net of current portion | 13,211 | 10,301 |
Debt issuance costs, net of current portion | (153) | (134) |
Long-term debt, net of current portion | 13,058 | 10,167 |
Term Loan Agreement [Member] | ||
Long-term debt, gross | 10,454 | 10,898 |
Debt issuance costs | (139) | (153) |
Long-term debt | 10,315 | 10,745 |
Debt issuance costs | 139 | $ 153 |
The 2019 Term Loan Agreement [Member] | ||
Long-term debt, gross | 2,934 | |
Debt issuance costs | (39) | |
Long-term debt | 2,895 | |
Debt issuance costs | 39 | |
New Castle Country Club Commercial Mortgage [Member] | ||
Long-term debt, gross | 630 | |
Debt issuance costs | ||
Long-term debt | 630 | |
Debt issuance costs |
Note 9 - Term Loans and Line _5
Note 9 - Term Loans and Line of Credit Agreements - Future Maturities of Long-term Debt (Details) $ in Thousands | Sep. 30, 2019USD ($) |
2020 | $ 807 |
2021 | 853 |
2022 | 901 |
2023 | 951 |
2024 | 1,005 |
Thereafter | 9,501 |
Total | $ 14,018 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net Income (Loss) Attributable to Parent, Total | $ 144 | $ 849 | $ (15) | $ 673 |
Note 11 - Long-term Incentive_3
Note 11 - Long-term Incentive Plan (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 120 Months Ended | |||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Apr. 25, 2019 | Dec. 31, 2018 | Oct. 06, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 688,000 | 688,000 | 688,000 | 688,000 | ||||
Minimum Percentage of Fair Market Value for Non-qualified Stock Option Price | 100.00% | |||||||
Share-based Payment Arrangement, Expense | $ 1,000 | $ 2,000 | $ 4,000 | $ 5,000 | ||||
Ten Percent Shareholders [Member] | ||||||||
Minimum Percentage of Fair Market Value for Incentive Stock Option Price | 110.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||
Other Employees [Member] | ||||||||
Minimum Percentage of Fair Market Value for Incentive Stock Option Price | 100.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | |||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total | 760,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 72,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 688,000 | 688,000 | 688,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||
Number Of Years After Options Vested, Stock Price Reach Predetermined Vesting Price | 3 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 19,000 | $ 19,000 | $ 19,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 4 years 244 days | |||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year | |||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Minimum [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 180 days | |||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan [Member] | Common Class A [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,300,000 | |||||||
The 2019 Long-Term Incentive Plan [Member] | Common Class A [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,300,000 | |||||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan And 2019 Long Term Incentive Plan [Member] | Common Class A [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,300,000 |
Note 11 - Long-term Incentive_4
Note 11 - Long-term Incentive Plan - Stock Option Activity (Details) - $ / shares | 9 Months Ended |
Sep. 30, 2019 | |
Outstanding outstanding (in shares) | 688,000 |
Weighted average exercise price, options outstanding (in dollars per share) | $ 2.52 |
Weighted average fair value at grant date, options outstanding (in dollars per share) | $ 1 |
Options granted (in shares) | |
Weighted average exercise price, options granted (in dollars per share) | |
Options exercised (in shares) | |
Weighted average exercise price, options exercised (in dollars per share) | |
Options cancelled or forfeited (in shares) | |
Weighted average exercise price, options cancelled or forfeited (in dollars per share) | |
Outstanding outstanding (in shares) | 688,000 |
Weighted average exercise price, options outstanding (in dollars per share) | $ 2.52 |
Weighted average fair value at grant date, options outstanding (in dollars per share) | $ 1 |
Options Vested (in shares) | 652,000 |
Weighted average exercise price, options vested (in dollars per share) | $ 2.56 |
Weighted average fair value at grant date, options vested (in dollars per share) | $ 1.03 |
Options exercisable (in shares) | 634,000 |
Weighted average exercise price, options exercisable (in dollars per share) | $ 2.58 |
Weighted average fair value at grant date, options exercisable (in dollars per share) | $ 1.05 |
Note 11 - Long-term Incentive_5
Note 11 - Long-term Incentive Plan - Period and Predetermined Stock Price Needed for Vesting (Details) | 9 Months Ended |
Sep. 30, 2019$ / shares | |
Share-based Payment Arrangement, Tranche One [Member] | |
Begins Vesting | 12 months after Grant Dates |
Ends Vesting | 48 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 3.43 |
Share-based Payment Arrangement, Tranche Two [Member] | |
Begins Vesting | 24 months after Grant Dates |
Ends Vesting | 60 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 4.69 |
Share-based Payment Arrangement, Tranche Three [Member] | |
Begins Vesting | 36 months after Grant Dates |
Ends Vesting | 72 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 6.43 |
Share-Based Compensation Award Tranche Four [Member] | |
Begins Vesting | 48 months after Grant Dates |
Ends Vesting | 84 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 8.81 |
Share-Based Compensation Award Tranche Five [Member] | |
Begins Vesting | 60 months after Grant Dates |
Ends Vesting | 96 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 12.07 |
Note 13 - Business Segment In_3
Note 13 - Business Segment Information (Details Textual) $ in Millions | 9 Months Ended | |
Sep. 30, 2019USD ($) | Sep. 30, 2018 | |
Waste Management Services [Member] | ||
Increase (Decrease) in Total Assets | $ 1.7 | |
Golf and Related Operations [Member] | ||
Increase (Decrease) in Total Assets | 7.2 | |
Corporate Segment [Member] | ||
Increase (Decrease) in Total Assets | $ 2.5 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||
Number of Major Customers | 0 | 0 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Waste Management Services [Member] | ||
Number of Major Customers | 0 | 0 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Golf and Related Operations [Member] | ||
Number of Major Customers | 0 | 0 |
Note 13 - Business Segment In_4
Note 13 - Business Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 18,018 | $ 18,148 | $ 51,051 | $ 46,369 | |
Income (loss) before income taxes | 164 | 805 | 53 | 445 | |
Interest expense | (222) | (167) | (600) | (512) | |
Other income, net | 41 | 45 | 257 | 218 | |
Total Assets | 71,059 | 71,059 | $ 64,769 | ||
Operating Segments [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 18,028 | 18,163 | 51,096 | 46,426 | |
Income (loss) before income taxes | 1,174 | 1,699 | 2,932 | 3,223 | |
Total Assets | 134,329 | 134,329 | 122,851 | ||
Intersegment Eliminations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | (10) | (15) | (45) | (57) | |
Total Assets | (63,270) | (63,270) | (58,082) | ||
Corporate, Non-Segment [Member] | |||||
Interest expense | (203) | (154) | (551) | (474) | |
Other income, net | 3 | 1 | 51 | 14 | |
General corporate expenses | (810) | (741) | (2,379) | (2,318) | |
Total Assets | 49,925 | 49,925 | 47,394 | ||
Waste Management Services [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 11,572 | 12,557 | 35,908 | 32,525 | |
Waste Management Services [Member] | Operating Segments [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 11,572 | 12,557 | 35,908 | 32,525 | |
Income (loss) before income taxes | 1,074 | 1,244 | 3,295 | 2,768 | |
Total Assets | 29,107 | 29,107 | 27,383 | ||
Waste Management Services [Member] | Intersegment Eliminations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | |||||
Golf and Related Operations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 6,446 | 5,591 | 15,143 | 13,844 | |
Golf and Related Operations [Member] | Operating Segments [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 6,456 | 5,606 | 15,188 | 13,901 | |
Income (loss) before income taxes | 100 | 455 | (363) | 455 | |
Total Assets | 55,297 | 55,297 | $ 48,074 | ||
Golf and Related Operations [Member] | Intersegment Eliminations [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 10 | $ 15 | $ 45 | $ 57 |
Note 14 - Certain Relationshi_2
Note 14 - Certain Relationships and Related Transactions (Details Textual) - USD ($) $ in Millions | 12 Months Ended | 24 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2014 | Sep. 30, 2019 | Dec. 31, 2018 | |
Investment in Subsidiary [Member] | Management and Accredited Investors [Member] | ||||
Related Party Transaction, Amounts of Transaction | $ 1 | |||
AWMS Holdings, LLC [Member] | ||||
Equity Method Investments | $ 3.4 | $ 3.4 | ||
Proceeds from Issuance of Private Placement | $ 3.8 | |||
Equity Method Investment, Ownership Percentage | 47.00% | 47.00% |
Note 15 - Injection Wells Sus_2
Note 15 - Injection Wells Suspension (Details Textual) $ in Millions | 3 Months Ended | ||
Dec. 31, 2018USD ($) | Sep. 30, 2019 | Sep. 03, 2014 | |
Number of Suspended Saltwater Injection Wells | 2 | 2 | |
Wells and Related Equipment and Facilities [Member] | |||
Asset Impairment Charges, Total | $ 3.3 |
Note 16 - Asset Acquisitions (D
Note 16 - Asset Acquisitions (Details Textual) - USD ($) | May 13, 2019 | Mar. 07, 2018 | Sep. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Right-of-Use Asset | $ 1,505,000 | ||||
Operating Lease, Liability, Total | $ 1,505,000 | ||||
Boardman Tennis Center [Member] | |||||
Payments to Acquire Buildings | $ 1,300,000 | ||||
New Castle Country Club [Member] | |||||
Long-term Debt, Total | $ 800,000 | ||||
Asset Acquisition, Transaction Costs Capitalized | 67,000 | ||||
Operating Lease, Right-of-Use Asset | 126,000 | ||||
Operating Lease, Liability, Total | $ 126,000 | $ 1,700,000 | |||
New Castle Country Club [Member] | Vehicles [Member] | |||||
Lessee, Operating Lease, Remaining Term Of Contract | 3 years |
Note 16 - Asset Acquisitions -
Note 16 - Asset Acquisitions - Assets Acquired and Liabilities Assumed in Boardman Tennis Center Acquisition (Details) - Boardman Tennis Center [Member] $ in Thousands | Mar. 07, 2018USD ($) |
Building and land | $ 1,302 |
Total assets acquired: | 1,302 |
Accrued liabilities | 33 |
Total liabilities assumed | 33 |
Total consideration | $ 1,269 |
Note 16 - Asset Acquisitions _2
Note 16 - Asset Acquisitions - Assets Acquired and Liabilities Assumed in New Caste Country Club Acquisition (Details) - New Castle Country Club [Member] $ in Thousands | May 13, 2019USD ($) |
Building and land | $ 854 |
Operating lease right-of-use assets | 126 |
Prepaid real estate taxes | 23 |
Total assets acquired: | 1,003 |
Commercial mortgage | 653 |
Demand line of credit | 134 |
Obligations under operating leases | 126 |
Total liabilities assumed | 913 |
Total consideration | $ 90 |