Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2022 | May 16, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-54987 | |
Entity Registrant Name | Strategic Environmental & Energy Resources, Inc. | |
Entity Central Index Key | 0001576197 | |
Entity Tax Identification Number | 02-0565834 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 370 Interlocken Blvd | |
Entity Address, Address Line Two | Suite 680 | |
Entity Address, City or Town | Broomfield | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80021 | |
City Area Code | 303 | |
Local Phone Number | 277-1625 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 65,088,575 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | [1] |
Current Assets | |||
Cash and cash equivalents | $ 68,400 | $ 188,800 | |
Accounts receivable, net of allowance for doubtful accounts of $19,800 and $0, respectively | 729,600 | 536,600 | |
Inventory | 130,400 | 201,700 | |
Contract assets | 14,900 | 3,600 | |
Prepaid expenses and other current assets | 194,000 | 111,300 | |
Total Current Assets | 1,137,300 | 1,042,000 | |
Property and equipment, net | 436,500 | 433,000 | |
Intangible Assets, net | 413,800 | 419,300 | |
Right of use assets | 289,600 | 302,300 | |
Other assets | 40,600 | 40,600 | |
TOTAL ASSETS | 2,317,800 | 2,237,200 | |
Current Liabilities | |||
Accounts payable | 600,100 | 471,200 | |
Accrued liabilities | 2,432,100 | 2,230,100 | |
Contract liabilities | 523,500 | 525,900 | |
Paycheck protection program liabilities | 96,600 | ||
Short term notes | 2,832,300 | 2,843,900 | |
Short term notes and accrued interest - related party | 188,000 | 180,800 | |
Convertible notes | 1,605,000 | 1,605,000 | |
Current portion of long term debt and capital lease obligations | 530,200 | 525,600 | |
Current portion of lease liabilities | 56,700 | 54,700 | |
Total Current Liabilities | 8,767,900 | 8,533,800 | |
Lease liabilities net of current portion | 265,500 | 280,300 | |
Long term debt and capital lease obligations, net of current portion | 1,871,600 | 1,619,600 | |
Total Liabilities | 10,905,000 | 10,433,700 | |
Commitments and contingencies | |||
Stockholders’ deficit | |||
Preferred stock; $.001 par value; 5,000,000 shares authorized; -0- shares issued | |||
Common stock; $.001 par value; 70,000,000 shares authorized; 65,088,575 shares issued, issuable ** and outstanding March 31, 2022 and December 31, 2021 | 65,100 | 65,100 | |
Common stock issuable | 25,000 | 25,000 | |
Additional paid-in capital | 22,973,800 | 22,973,800 | |
Stock Subscription receivable | (25,000) | (25,000) | |
Accumulated deficit | (29,751,400) | (29,364,800) | |
Total stockholders’ deficit | (6,712,500) | (6,325,900) | |
Non-controlling interest | (1,874,700) | (1,870,600) | |
Total Deficit | (8,587,200) | (8,196,500) | |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 2,317,800 | $ 2,237,200 | |
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Allowance for doubtful accounts | $ 19,800 | $ 0 | |
Preferred stock, par value | $ 0.001 | $ 0.001 | |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | |
Preferred stock, shares issued | 0 | 0 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, shares authorized | 70,000,000 | 70,000,000 | |
Common stock, shares issued | 65,088,575 | 65,088,575 | |
Common stock, shares issuable | [1] | 65,088,575 | 65,088,575 |
Note Agreements [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Common stock, shares issuable | 2,785,000 | 2,785,000 | |
[1] | Includes 2,785,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenue: | ||
Total revenue | $ 909,900 | $ 744,200 |
Operating expenses: | ||
Products costs | 659,100 | 488,900 |
Solid waste costs | 7,400 | 7,400 |
General and administrative expenses | 273,000 | 311,000 |
Salaries and related expenses | 344,600 | 136,400 |
Total operating expenses | 1,284,100 | 943,700 |
Loss from operations | (374,200) | (199,500) |
Other income (expense): | ||
Interest expense | (190,100) | (194,200) |
Gain on abandonment | ||
Gain on debt extinguishment | 96,600 | |
Other | 77,000 | 29,800 |
Total non-operating expense, net | (16,500) | (164,400) |
Loss from continuing operations | (390,700) | (363,900) |
Gain from discontinued operations, net of tax | 33,500 | |
Net loss | (390,700) | (330,400) |
Less: Net income (loss) attributable to non-controlling interest | (4,100) | (12,800) |
Net loss attributable to SEER common stockholders | $ (386,600) | $ (317,600) |
Basic and diluted loss per share attributable to SEER common stockholders | ||
Loss from continuing operations, per share | $ (0.01) | $ (0.01) |
Income from discontinued operations, per share | ||
Net loss per share, basic and diluted | $ (0.01) | $ (0.01) |
Weighted average shares outstanding – basic and diluted | 65,088,575 | 65,088,575 |
Product [Member] | ||
Revenue: | ||
Total revenue | $ 859,900 | $ 686,000 |
Solid Waste [Member] | ||
Revenue: | ||
Total revenue | $ 50,000 | $ 58,200 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Common Stock Subscribed [Member] | Stock Subscription Receivable [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total | |
Balance at Dec. 31, 2020 | $ 65,100 | $ 22,961,200 | $ 25,000 | $ (25,000) | $ (29,693,700) | $ (2,061,400) | $ (8,728,800) | ||
Balance, shares at Dec. 31, 2020 | 65,088,600 | ||||||||
Issuance of common stock upon debt penalty | |||||||||
Stock-based compensation | 4,700 | 4,700 | |||||||
Allocated value of common stock and warrants related to debt | |||||||||
Net loss | (317,600) | (12,800) | (330,400) | ||||||
Balance at Mar. 31, 2021 | $ 65,100 | 22,965,900 | 25,000 | (25,000) | (30,011,300) | (2,074,200) | (9,054,500) | ||
Balance, shares at Mar. 31, 2021 | 65,088,600 | ||||||||
Balance at Dec. 31, 2021 | $ 65,100 | 22,973,800 | 25,000 | (25,000) | (29,364,800) | (1,870,600) | (8,196,500) | [1] | |
Balance, shares at Dec. 31, 2021 | 65,088,600 | ||||||||
Issuance of common stock upon debt penalty | |||||||||
Stock-based compensation | |||||||||
Allocated value of common stock and warrants related to debt | |||||||||
Net loss | (386,600) | (4,100) | (390,700) | ||||||
Balance at Mar. 31, 2022 | $ 65,100 | $ 22,973,800 | $ 25,000 | $ (25,000) | $ (29,751,400) | $ (1,874,700) | $ (8,587,200) | ||
Balance, shares at Mar. 31, 2022 | |||||||||
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities: | ||
Loss from continuing operations | $ (390,700) | $ (363,900) |
Income from discontinued operations | 33,500 | |
Net loss | (390,700) | (330,400) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 30,300 | 34,600 |
Stock-based compensation expense | 4,700 | |
Non-cash expense for interest, accretion of debt discount | 20,000 | |
Gain on debt distinguishment | (96,600) | |
Gain on disposition of assets | (75,800) | |
Bad debt | 19,800 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (212,700) | (172,200) |
Contract assets | (11,300) | 6,800 |
Inventory | 71,300 | (53,700) |
Prepaid expenses and other assets | (70,000) | (221,400) |
Accounts payable, accrued liabilities, and customer deposits | 274,300 | (17,100) |
Contract liabilities | (2,400) | 84,600 |
Deferred revenue | (8,200) | |
Net cash used in operating activities | (388,000) | (728,100) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (28,300) | |
Proceeds from the sale of fixed assets | 75,800 | |
Net cash provided (used) by investing activities | (28,300) | 75,800 |
Cash flows from financing activities: | ||
Payments of notes and capital lease obligations | (23,400) | (63,400) |
Payments of short-term notes - related party | (10,000) | |
Proceeds from short-term notes - related party | 10,000 | |
Proceeds from short-term and long-term debt | 319,300 | 650,000 |
Proceeds from paycheck protection program | 130,100 | |
Net cash provided by financing activities | 295,900 | 716,700 |
Net increase (decrease) in cash | (120,400) | 64,400 |
Cash at the beginning of period | 188,800 | 47,300 |
Cash at the end of period | 68,400 | 111,700 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 1,500 | 24,700 |
Financing of prepaid insurance premiums | 52,400 | |
Cash paid for income taxes | ||
Non-cash repayment of debt | 50,800 | 154,700 |
Non-cash repayment of debt - PPP Loan | 96,600 | |
Non-cash payment of interest | $ 15,400 | $ 22,500 |
ORGANIZATION AND FINANCIAL COND
ORGANIZATION AND FINANCIAL CONDITION | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND FINANCIAL CONDITION | ORGANIZATION AND FINANCIAL CONDITION Organization and Going Concern Strategic Environmental & Energy Resources, Inc. (“SEER,” or the “Company”), a Nevada corporation, is a provider of next-generation clean-technologies, waste management innovations and related services. SEER has two wholly owned operating subsidiaries and three majority-owned subsidiaries; all of which together provide technology solutions and services to companies primarily in the oil and gas, refining, landfill, food, beverage & agriculture, and renewable fuel industries. The two wholly owned subsidiaries include: 1) MV, LLC (d/b/a MV Technologies) (“MV”), designs and builds biogas conditioning solutions for the production of renewable natural gas, odor control systems and natural gas vapor capture primarily for landfill operations, waste-water treatment facilities, oil and gas fields, refineries, municipalities and food, beverage & agriculture operations throughout the U.S.; 2) Strategic Environmental Materials, LLC, (“SEM”), a materials technology company focused on development of cost-effective chemical absorbents. The Company had a third wholly owned subsidiary, REGS, LLC (d/b/a Resource Environmental Group Services (“REGS”)), which was discarded and abandoned September 1, 2021, and all operations included in discontinued operations (See Note 15). The two majority-owned subsidiaries include 1) Paragon Waste Solutions, LLC (“PWS”), and 2) PelleChar, LLC (“PelleChar”). PWS is currently owned 54 51 PWS has developed specific opportunities to deploy and commercialize patented technologies for a non-thermal plasma-assisted oxidation process that makes possible the clean and efficient destruction of solid hazardous chemical and biological waste ( i.e etc i.e PelleChar was established in September 2018 and is owned 51 Principals of Consolidation The accompanying consolidated financial statements include the accounts of SEER, its wholly owned subsidiaries, SEM, MV and REGS (through September 1, 2021, as discontinued operations), and its majority-owned subsidiaries PWS and PelleChar, since their respective acquisition or formation dates. All material intercompany accounts, transactions, and profits have been eliminated in consolidation. The Company has non-controlling interest in joint ventures, which are reported on the equity method. Going Concern As shown in the accompanying consolidated financial statements, the Company has experienced recurring losses, and has accumulated a deficit of approximately $ 29.8 29.4 0.4 0.3 7.6 7.5 Realization of a major portion of the Company’s assets as of March 31, 2022, is dependent upon continued operations. The Company is dependent on generating additional revenue or obtaining adequate capital to fund operating losses until it becomes profitable. For the three months ended March 31, 2022, the Company raised approximately $ 0.3 million from the issuance of short-term and long-term debt, offset by payments of principal on short term notes and capital leases of $ 23,400 , for a net cash provided by financing activities of approximately $ 0.3 million. In addition, the Company has undertaken a number of specific steps to continue to operate as a going concern. The Company continues to focus on developing organic growth in our operating companies and improving gross and net margins through increased attention to pricing, aggressive cost management and overhead reductions, including discontinuing REGS, a line of business with historically insufficient margins. Critical to achieving profitability will be the ability to license and or sell, permit and operate though the Company’s joint ventures and licensees the CoronaLux™ waste destruction units. The Company has limited common shares available for issue which may limit the ability to raise capital or settle debt through issuance of shares. The Company has increased business development efforts to address opportunities identified in expanding markets attributable to increased interest in energy conservation and emission control regulations. In addition, the Company is evaluating various forms of financing which may be available to it. There can be no assurance that the Company will secure additional financing for working capital, increase revenues and achieve the desired result of net income and positive cash flow from operations in future years. These financial statements do not give any effect to any adjustments that would be necessary should the Company be unable to report on a going concern basis. Basis of Presentation Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements are unaudited. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all the normal recurring adjustments necessary to present fairly the financial position and results of operations as of and for the periods presented. The interim results are not necessarily indicative of the results to be expected for the full year or any future period. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company believes that the disclosures are adequate to make the interim information presented not misleading. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Report on Form 10-K filed on April 15, 2022, for the year ended December 31, 2021. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of these consolidated financial statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) requires management to make a number of estimates and assumptions related to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include the carrying amount of intangible assets; valuation allowances and reserves for receivables and inventory and deferred income taxes; revenue recognition related to contracts accounted for under the percentage of completion method; share-based compensation; and loss contingencies, including those related to litigation. Actual results could differ from those estimates. Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported consolidated net loss. Revenue Recognition Revenue is recognized under FASB guidelines, which requires an evaluation of revenue arrangements with customers following a five-step approach: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations; and (5) recognize revenue when (or as) the company satisfies each performance obligation. Revenues are recognized when control of the promised services are transferred to the customers in an amount that reflects the expected consideration in exchange for those services. A customer obtains control when it has the ability to direct the use of and obtain the benefits from the services. Other major provisions of the guidance include capitalization of certain contract costs, consideration of the time value of money in the transaction price and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. (See Note 3) Sequencing On December 31, 2021, the Company adopted a sequencing policy under ASC 815-40-35 whereby in the event that reclassification of contracts from equity to assets or liabilities is necessary pursuant to ASC 815 due to the Company’s inability to demonstrate it has sufficient authorized shares as a result of certain securities with a potentially indeterminable number of shares, shares will be allocated on the basis of the earliest issuance date of potentially dilutive instruments, with the earliest grants receiving the first allocation of shares. Pursuant to ASC 815, issuance of securities to the Company’s employees or directors are not subject to the sequencing policy. Research and Development Research and development (“R&D”) costs are charged to expense as incurred. R&D expenses consist primarily of salaries, project materials, contract labor and other costs associated with ongoing product development and enhancement efforts. R&D expenses were $ 0 Inventories Inventories are stated at the lower of cost or net realizable value on a first in, first out basis and includes the following amounts: SCHEDULE OF INVENTORY March 31, December 31, (unaudited) Finished goods $ 105,500 $ 98,200 Work in process 15,900 28,400 Raw materials 9,000 75,100 Inventory, net 130,400 201,700 Income Taxes The Company accounts for income taxes pursuant to Accounting Standards Codification Income Taxes, ASC 740 also provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized. During the three months ended March 31, 2022, and 2021 the Company recognized no The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. No The Company has filed federal and state tax returns through December 31, 2020. The tax periods for the years ending December 31, 2018, through 2021 are open to examination by federal and state authorities. |
REVENUE
REVENUE | 3 Months Ended |
Mar. 31, 2022 | |
Revenue: | |
REVENUE | NOTE 3 – REVENUE Products Revenue Product revenue generated from contracts with customers, for the manufacture of products for the removal and treatment of hazardous vapor and gasses. Total estimated revenue includes all of the following: (1) the basic contract price, (2) contract options, and (3) change orders. Once contract performance is underway, the Company may experience changes in conditions, client requirements, specifications, designs, materials, and expectations regarding the period of performance. Such changes are “change orders” and may be initiated by us or by our clients. In many cases, agreement with the client as to the terms of change orders is reached prior to work commencing; however, sometimes circumstances require that work progress without obtaining client agreement. Revenue related to change orders is recognized as costs are incurred if it is probable that costs will be recovered by changing the contract price. The Company does not incur pre-contract costs. Under the new revenue recognition guidance, the Company found no change in the manner product revenue is recognized. Provisions for estimated losses on uncompleted contracts are recorded in the period in which the losses are identified and included as additional loss. Provisions for estimated losses on contracts are shown separately as liabilities on the balance sheet, if significant, except in circumstances in which related costs are accumulated on the balance sheet, in which case the provisions are deducted from the accumulated costs. A provision as a liability is reported as a current liability. The Company includes in current assets and current liabilities amounts related to contracts realizable and payable. Costs and estimated earnings in excess of billings on uncompleted contracts represent the excess of contract costs and profits recognized to date over billings to date and are recognized as a current asset. Revenue contract liabilities represent the excess of billings to date over the amount of contract costs and profits recognized to date and are recognized as a current liability. Products revenue also includes media sales which are recognized as the product is shipped to the customer for use. Solid Waste Revenue The Company’s revenues from waste destruction licensing agreements are recognized as a single accounting unit over the term of the license. Revenue from joint venture operations of the Company’s CoronaLux™ units is recognized as the revenue is earned by the joint venture. Revenue from management services is recognized as services are performed. Disaggregation of Revenue (Unaudited) SCHEDULE OF DISAGGREGATION OF REVENUE Environmental Solutions Solid Waste Total Three months ended March 31, 2022 Environmental Solutions Solid Waste Total Sources of Revenue Product sales $ 666,300 - $ 666,300 Media sales 193,600 - 193,600 Licensing fees - - - Management fees - 50,000 50,000 Total Revenue $ 859,900 $ 50,000 $ 909,900 Environmental Solutions Solid Waste Total Three months ended March 31, 2021 Environmental Solutions Solid Waste Total Sources of Revenue Product sales 431,600 - 431,600 Media sales 254,400 - 254,400 Licensing fees - 8,200 8,200 Management fees - 50,000 50,000 Total Revenue $ 686,000 $ 58,200 $ 744,200 Contract Balances Where a performance obligation has been satisfied but not yet invoiced at the reporting date, a contract asset is recognized on the balance sheet. Where a performance obligation has not yet been satisfied but an invoice has been raised at the reporting date, a contract liability is recognized on the balance sheet. The opening and closing balances of the Company’s accounts receivables and contract liabilities (current and non-current) are as follows: SCHEDULE OF CONTRACT BALANCES Accounts Receivable, net Contract Assets Contract Liabilities Balance as of March 31, 2022 $ 729,600 $ 14,900 $ 523,500 Balance as of December 31, 2021 536,600 3,600 525,900 Increase (decrease) $ 193,000 $ 11,300 $ (2,400 ) The majority of the Company’s revenue is generally invoiced on a weekly or monthly basis, and the payments are generally received within approximately 30-60 days. Contract liabilities are recorded when cash payments are received or due in advance of the Company’s performance, including amounts that are refundable. Remaining Performance Obligations As of March 31, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligations was approximately $ 1.6 million, of which the Company expects to recognize approximately 85 % of this revenue over the next 12 months. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected term of one year or less and (ii) contracts for which the Company recognizes revenue at the amounts to which it has the right to invoice for services performed. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 3 Months Ended |
Mar. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment was comprised of the following: SCHEDULE OF PROPERTY PLANT AND EQUIPMENT March 31, December 31, Field and shop equipment $ 578,000 $ 553,200 Vehicles 72,500 72,500 Waste destruction equipment, placed in service 553,300 553,300 Furniture and office equipment 345,800 342,400 Leasehold improvements 36,200 36,200 Building and improvements 21,200 21,200 Land 162,900 162,900 Property and equipment, gross 1,769,900 1,741,700 Less: accumulated depreciation and amortization (1,333,400 ) (1,308,700 ) Property and equipment, net $ 436,500 $ 433,000 Depreciation expense for the three months ended March 31, 2022, and 2021 was $ 24,800 and $ 26,500 , respectively. For the three months ended March 31, 2022, and 2021, depreciation expense included in cost of goods sold was $ 18,400 and $ 20,100 , respectively. For the three months ended March 31, 2022, and 2021, depreciation expense included in selling, general and administrative expenses was $ 6,400 and $ 6,400 , respectively. Depreciation expense on leased CoronaLux™ units included in depreciation and amortization above is $0 as of March 31, 2022, and 2021, respectively. Property and equipment included the following amounts for leases that have been capitalized at: SCHEDULE OF PROPERTY AND EQUIPMENT FOR LEASES CAPITALIZED March 31, December 31, 2022 2021 Vehicles, field and shop equipment $ 10,200 $ 10,200 Less: accumulated amortization (10,200 ) (10,200 ) Property and equipment for lease capitalized $ - $ - |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 3 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | NOTE 5 – INTANGIBLE ASSETS SCHEDULE OF INTANGIBLE ASSETS Gross carrying amount Accumulated amortization Net carrying value March 31, 2022 Gross carrying amount Accumulated amortization Net carrying value Goodwill $ 277,800 $ - $ 277,800 Customer list 42,500 (42,500 ) - Technology 1,021,900 (885,900 ) 136,000 Trade name 54,900 (54,900 ) - $ 1,397,100 $ (983,300 ) $ 413,800 Gross carrying amount Accumulated amortization Net carrying value December 31, 2021 Gross carrying amount Accumulated amortization Net carrying value Goodwill $ 277,800 $ - $ 277,800 Customer list 42,500 (42,500 ) - Technology 1,021,900 (880,400 ) 141,500 Trade name 54,900 (54,900 ) - $ 1,397,100 $ (977,800 ) $ 419,300 The estimated useful lives of the intangible assets range from seven to twenty years . Amortization expense was $ 5,500 and $ 8,000 for the three months ended March 31, 2022, and 2021, respectively. |
LEASES
LEASES | 3 Months Ended |
Mar. 31, 2022 | |
Leases | |
LEASES | NOTE 6 – LEASES The Company has entered into operating leases primarily for real estate. These leases have terms which range from 1 8 1 225,300 246,100 289,600 322,200 20,900 Because the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present value of the lease payments. The Company has certain contracts for real estate which may contain lease and non-lease components which it has elected to treat as a single lease component. Information related to the Company’s right-of-use assets and related lease liabilities were as follows (Unaudited): SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES Three Months 2022 2021 Cash paid for operating lease liabilities $ 36,700 $ 77,000 Right-of-use assets obtained in exchange for new operating lease obligations - - Weighted-average remaining lease term 53 0 Weighted-average discount rate 10 % 10 % Maturities of lease liabilities as of March 31, 2022 were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES 2023 $ 86,300 2024 88,900 2025 91,600 2026 94,300 2027 40,300 Thereafter - Lease liabilities 401,400 Less imputed interest (79,200 ) Total lease liabilities 322,200 Current operating lease liabilities 56,700 Non-current operating lease liabilities 265,500 Total lease liabilities $ 322,200 |
ACCRUED LIABILITIES
ACCRUED LIABILITIES | 3 Months Ended |
Mar. 31, 2022 | |
Payables and Accruals [Abstract] | |
ACCRUED LIABILITIES | NOTE 7 – ACCRUED LIABILITIES Accrued liabilities were comprised of the following: SCHEDULE OF ACCRUED LIABILITIES March 31, December 31, 2022 2021 Accrued compensation and related taxes $ 158,500 $ 124,600 Accrued interest 1,980,500 1,818,500 Accrued settlement/litigation claims 150,000 150,000 Warranty and defect claims 40,500 40,000 Other 102,600 97,000 Total Accrued Liabilities $ 2,432,100 $ 2,230,100 |
UNCOMPLETED CONTRACTS
UNCOMPLETED CONTRACTS | 3 Months Ended |
Mar. 31, 2022 | |
Contractors [Abstract] | |
UNCOMPLETED CONTRACTS | NOTE 8 – UNCOMPLETED CONTRACTS Costs, estimated earnings and billings on uncompleted contracts are as follows: SCHEDULE OF UNCOMPLETED CONTRACTS March 31, December 31, 2022 2021 (unaudited) Revenue recognized $ 679,300 $ 285,600 Less: billings to date (664,400 ) (282,000 ) Contract assets 14,900 3,600 Billings to date 1,032,000 1,578,300 Revenue recognized (508,500 ) (1,052,400 ) Contract liabilities $ 523,500 $ 525,900 |
INVESTMENT IN PARAGON WASTE SOL
INVESTMENT IN PARAGON WASTE SOLUTIONS LLC | 3 Months Ended |
Mar. 31, 2022 | |
Investments, All Other Investments [Abstract] | |
INVESTMENT IN PARAGON WASTE SOLUTIONS LLC | NOTE 9 – INVESTMENT IN PARAGON WASTE SOLUTIONS LLC Since its inception through March 31, 2022, the Company has provided approximately $ 6.4 |
DEBT
DEBT | 3 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
DEBT | NOTE 10 – DEBT Debt as of March 31, 2022 (Unaudited), and December 31, 2021, was comprised of the following: SCHEDULE OF DEBT Paycheck protection program Short term notes Convertible notes, unsecured Current portion of long-term debt and capital lease obligations Long term debt and capital lease obligations Total Balance December 31, 2021 $ 96,600 $ 2,843,900 $ 1,605,000 $ 525,600 $ 1,619,600 (4) $ 6,690,700 Increase in borrowing - - - 4,600 (2) 258,800 (2) 263,400 Principal reductions(1) (96,600 ) (11,600 ) - - (6,800 ) (115,000 ) Long term debt to current - - - - - - Amortization of debt discount - - - - - - Balance March 31, 2022 $ - $ 2,832,300 (3) $ 1,605,000 $ 530,200 $ 1,871,600 $ 6,839,100 (1) The Payroll Protection Program final note forgiveness was confirmed during the first quarter of 2022. (2) A) Secured note payable of $ 13,300 6.5 February 15, 2025 400 100 0 4,200 250,000 8 February 10, 2027 2,700 2,700 (3) The balance consists of $ 2,410,200 422,100 (4) Secured notes. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 11 – RELATED PARTY TRANSACTIONS Notes payable and accrued interest, related parties Related parties accrued interest due to certain related parties are as follows: SCHEDULE OF RELATED PARTIES, NOTES PAYABLE AND ACCRUED INTEREST March 31, December 31, 2022 2021 (unaudited) Short term notes $ 125,000 $ 125,000 Accrued interest 63,000 55,800 Total short-term notes and accrued interest - Related parties $ 188,000 $ 180,800 |
EQUITY TRANSACTIONS
EQUITY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
EQUITY TRANSACTIONS | NOTE 12 – EQUITY TRANSACTIONS 2022 Common Stock Transactions During the three months ended March 31, 2022, no new equity transactions have occurred. 2021 Common Stock Transactions During the three months ended March 31, 2021, no new equity transactions have occurred. Non-controlling Interest The non-controlling interest presented in our condensed consolidated financial statements reflects a 46% non-controlling equity interest in PWS and 49% non-controlling equity interest in PelleChar |
CUSTOMER CONCENTRATIONS
CUSTOMER CONCENTRATIONS | 3 Months Ended |
Mar. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
CUSTOMER CONCENTRATIONS | NOTE 13 – CUSTOMER CONCENTRATIONS The Company had sales from operations to three, for the three months ended March 31, 2022, and 2021 that surpassed the 10 68 64 |
NET GAIN OR LOSS PER SHARE
NET GAIN OR LOSS PER SHARE | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
NET GAIN OR LOSS PER SHARE | NOTE 14 – NET GAIN OR LOSS PER SHARE Basic net gain or loss per share is computed by dividing net gain or loss attributable to common shareholders by the weighted average number of common shares outstanding. Diluted net gain or loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares. Potentially dilutive securities are excluded from the calculation when their effect would be anti-dilutive. For three months ended March 31, 2022, all potentially dilutive securities have been excluded from the diluted share calculations because they were anti-dilutive as a result of the net losses incurred for the respective period, or were dilutive, but the exercise prices were above the stock price for the entire period, deeming them not to be converted, or exercised during the period. Accordingly, basic shares equal diluted shares for all periods presented. Potentially dilutive securities were comprised of the following (unaudited): SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES 2022 2021 Three Months Ended March 31, 2022 2021 Warrants 200,000 271,000 Options 1,590,000 1,640,000 Convertible notes payable, including accrued interest 3,120,500 2,918,900 Potentially dilutive securities 4,910,500 4,829,900 |
ABANDONMENT OF SUBSIDIARY
ABANDONMENT OF SUBSIDIARY | 3 Months Ended |
Mar. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
ABANDONMENT OF SUBSIDIARY | NOTE 15 – ABANDONMENT OF SUBSIDIARY On September 1, 2021, the Company’s board of directors, by unanimous consent, adopted a resolution to abandon the Company’s wholly owned subsidiary, REGS, LLC. The abandonment resulted in a gain to the Company of approximately $ 1.5 million for the year ended December 31, 2021. For the three months ended March 31, 2021, all operations from REGS have been reported as discontinued operations. Major classes of line items constituting pretax income on discontinued operations: SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS 2022 2021 For the three months ended March 31, 2022 2021 Services revenue $ - $ 177,200 Services costs - (179,600 ) General and administrative expenses - (2,700 ) Salaries and related expenses - (29,000 ) Other income - 67,600 Gain on debt extinguishment - - Total expenses - (143,700 ) Operating income - 33,500 Income tax benefit - - Total income from discontinued operations $ - $ 33,500 |
SEGMENT INFORMATION AND MAJOR C
SEGMENT INFORMATION AND MAJOR CUSTOMERS | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION AND MAJOR CUSTOMERS | NOTE 16 – SEGMENT INFORMATION AND MAJOR CUSTOMERS The Company currently has identified two segments as follows: MV, SEM, PelleChar Environmental Solutions PWS Solid Waste The composition of our reportable segments is consistent with that used by our chief decision makers to evaluate performance and allocate resources. All of our operations are located in the U.S. The Company has not allocated corporate selling, general and administrative expenses, and stock-based compensation to the segments. All intercompany transactions have been eliminated. Segment information for the three months ended March 31, 2022 (Unaudited), and 2021 is as follows: SCHEDULE OF SEGMENT INFORMATION Three Months ended March 31, Environmental Solid 2022 Solutions Waste Corporate Total Revenue $ 859,900 $ 50,000 $ - $ 909,900 Depreciation and amortization (1) 11,000 7,400 11,900 30,300 Interest expense 1,300 4,100 185,200 190,600 Net income (loss) 36,500 (5,900 ) (417,200 ) (386,600 ) Capital expenditures (cash and noncash) 28,300 - - 28,300 Total assets $ 1,547,700 $ 277,600 $ 492,500 $ 2,317,800 Environmental Solid 2021 Solutions Waste Corporate Total Revenue $ 627,800 $ 58,200 $ - $ 686,000 Depreciation and amortization (1) 17,200 8,500 8,900 34,600 Interest expense 1,400 - 192,800 194,200 Stock-based compensation - - 4,700 4,700 Net income (loss) 138,200 (22,300 ) (433,500 ) (317,600 ) Capital expenditures (cash and noncash) - - - - Total assets $ 1,470,300 $ 354,200 $ 685,000 $ 2,509,500 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of these consolidated financial statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) requires management to make a number of estimates and assumptions related to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include the carrying amount of intangible assets; valuation allowances and reserves for receivables and inventory and deferred income taxes; revenue recognition related to contracts accounted for under the percentage of completion method; share-based compensation; and loss contingencies, including those related to litigation. Actual results could differ from those estimates. |
Reclassifications | Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported consolidated net loss. |
Revenue Recognition | Revenue Recognition Revenue is recognized under FASB guidelines, which requires an evaluation of revenue arrangements with customers following a five-step approach: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations; and (5) recognize revenue when (or as) the company satisfies each performance obligation. Revenues are recognized when control of the promised services are transferred to the customers in an amount that reflects the expected consideration in exchange for those services. A customer obtains control when it has the ability to direct the use of and obtain the benefits from the services. Other major provisions of the guidance include capitalization of certain contract costs, consideration of the time value of money in the transaction price and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. (See Note 3) |
Sequencing | Sequencing On December 31, 2021, the Company adopted a sequencing policy under ASC 815-40-35 whereby in the event that reclassification of contracts from equity to assets or liabilities is necessary pursuant to ASC 815 due to the Company’s inability to demonstrate it has sufficient authorized shares as a result of certain securities with a potentially indeterminable number of shares, shares will be allocated on the basis of the earliest issuance date of potentially dilutive instruments, with the earliest grants receiving the first allocation of shares. Pursuant to ASC 815, issuance of securities to the Company’s employees or directors are not subject to the sequencing policy. |
Research and Development | Research and Development Research and development (“R&D”) costs are charged to expense as incurred. R&D expenses consist primarily of salaries, project materials, contract labor and other costs associated with ongoing product development and enhancement efforts. R&D expenses were $ 0 |
Inventories | Inventories Inventories are stated at the lower of cost or net realizable value on a first in, first out basis and includes the following amounts: SCHEDULE OF INVENTORY March 31, December 31, (unaudited) Finished goods $ 105,500 $ 98,200 Work in process 15,900 28,400 Raw materials 9,000 75,100 Inventory, net 130,400 201,700 |
Income Taxes | Income Taxes The Company accounts for income taxes pursuant to Accounting Standards Codification Income Taxes, ASC 740 also provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized. During the three months ended March 31, 2022, and 2021 the Company recognized no The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. No The Company has filed federal and state tax returns through December 31, 2020. The tax periods for the years ending December 31, 2018, through 2021 are open to examination by federal and state authorities. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
SCHEDULE OF INVENTORY | Inventories are stated at the lower of cost or net realizable value on a first in, first out basis and includes the following amounts: SCHEDULE OF INVENTORY March 31, December 31, (unaudited) Finished goods $ 105,500 $ 98,200 Work in process 15,900 28,400 Raw materials 9,000 75,100 Inventory, net 130,400 201,700 |
REVENUE (Tables)
REVENUE (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Revenue: | |
SCHEDULE OF DISAGGREGATION OF REVENUE | Disaggregation of Revenue (Unaudited) SCHEDULE OF DISAGGREGATION OF REVENUE Environmental Solutions Solid Waste Total Three months ended March 31, 2022 Environmental Solutions Solid Waste Total Sources of Revenue Product sales $ 666,300 - $ 666,300 Media sales 193,600 - 193,600 Licensing fees - - - Management fees - 50,000 50,000 Total Revenue $ 859,900 $ 50,000 $ 909,900 Environmental Solutions Solid Waste Total Three months ended March 31, 2021 Environmental Solutions Solid Waste Total Sources of Revenue Product sales 431,600 - 431,600 Media sales 254,400 - 254,400 Licensing fees - 8,200 8,200 Management fees - 50,000 50,000 Total Revenue $ 686,000 $ 58,200 $ 744,200 |
SCHEDULE OF CONTRACT BALANCES | The opening and closing balances of the Company’s accounts receivables and contract liabilities (current and non-current) are as follows: SCHEDULE OF CONTRACT BALANCES Accounts Receivable, net Contract Assets Contract Liabilities Balance as of March 31, 2022 $ 729,600 $ 14,900 $ 523,500 Balance as of December 31, 2021 536,600 3,600 525,900 Increase (decrease) $ 193,000 $ 11,300 $ (2,400 ) |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY PLANT AND EQUIPMENT | Property and equipment was comprised of the following: SCHEDULE OF PROPERTY PLANT AND EQUIPMENT March 31, December 31, Field and shop equipment $ 578,000 $ 553,200 Vehicles 72,500 72,500 Waste destruction equipment, placed in service 553,300 553,300 Furniture and office equipment 345,800 342,400 Leasehold improvements 36,200 36,200 Building and improvements 21,200 21,200 Land 162,900 162,900 Property and equipment, gross 1,769,900 1,741,700 Less: accumulated depreciation and amortization (1,333,400 ) (1,308,700 ) Property and equipment, net $ 436,500 $ 433,000 |
SCHEDULE OF PROPERTY AND EQUIPMENT FOR LEASES CAPITALIZED | Property and equipment included the following amounts for leases that have been capitalized at: SCHEDULE OF PROPERTY AND EQUIPMENT FOR LEASES CAPITALIZED March 31, December 31, 2022 2021 Vehicles, field and shop equipment $ 10,200 $ 10,200 Less: accumulated amortization (10,200 ) (10,200 ) Property and equipment for lease capitalized $ - $ - |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF INTANGIBLE ASSETS | SCHEDULE OF INTANGIBLE ASSETS Gross carrying amount Accumulated amortization Net carrying value March 31, 2022 Gross carrying amount Accumulated amortization Net carrying value Goodwill $ 277,800 $ - $ 277,800 Customer list 42,500 (42,500 ) - Technology 1,021,900 (885,900 ) 136,000 Trade name 54,900 (54,900 ) - $ 1,397,100 $ (983,300 ) $ 413,800 Gross carrying amount Accumulated amortization Net carrying value December 31, 2021 Gross carrying amount Accumulated amortization Net carrying value Goodwill $ 277,800 $ - $ 277,800 Customer list 42,500 (42,500 ) - Technology 1,021,900 (880,400 ) 141,500 Trade name 54,900 (54,900 ) - $ 1,397,100 $ (977,800 ) $ 419,300 |
LEASES (Tables)
LEASES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Leases | |
SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES | Information related to the Company’s right-of-use assets and related lease liabilities were as follows (Unaudited): SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES Three Months 2022 2021 Cash paid for operating lease liabilities $ 36,700 $ 77,000 Right-of-use assets obtained in exchange for new operating lease obligations - - Weighted-average remaining lease term 53 0 Weighted-average discount rate 10 % 10 % |
SCHEDULE OF MATURITIES OF LEASE LIABILITIES | Maturities of lease liabilities as of March 31, 2022 were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES 2023 $ 86,300 2024 88,900 2025 91,600 2026 94,300 2027 40,300 Thereafter - Lease liabilities 401,400 Less imputed interest (79,200 ) Total lease liabilities 322,200 Current operating lease liabilities 56,700 Non-current operating lease liabilities 265,500 Total lease liabilities $ 322,200 |
ACCRUED LIABILITIES (Tables)
ACCRUED LIABILITIES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Payables and Accruals [Abstract] | |
SCHEDULE OF ACCRUED LIABILITIES | Accrued liabilities were comprised of the following: SCHEDULE OF ACCRUED LIABILITIES March 31, December 31, 2022 2021 Accrued compensation and related taxes $ 158,500 $ 124,600 Accrued interest 1,980,500 1,818,500 Accrued settlement/litigation claims 150,000 150,000 Warranty and defect claims 40,500 40,000 Other 102,600 97,000 Total Accrued Liabilities $ 2,432,100 $ 2,230,100 |
UNCOMPLETED CONTRACTS (Tables)
UNCOMPLETED CONTRACTS (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Contractors [Abstract] | |
SCHEDULE OF UNCOMPLETED CONTRACTS | Costs, estimated earnings and billings on uncompleted contracts are as follows: SCHEDULE OF UNCOMPLETED CONTRACTS March 31, December 31, 2022 2021 (unaudited) Revenue recognized $ 679,300 $ 285,600 Less: billings to date (664,400 ) (282,000 ) Contract assets 14,900 3,600 Billings to date 1,032,000 1,578,300 Revenue recognized (508,500 ) (1,052,400 ) Contract liabilities $ 523,500 $ 525,900 |
DEBT (Tables)
DEBT (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF DEBT | Debt as of March 31, 2022 (Unaudited), and December 31, 2021, was comprised of the following: SCHEDULE OF DEBT Paycheck protection program Short term notes Convertible notes, unsecured Current portion of long-term debt and capital lease obligations Long term debt and capital lease obligations Total Balance December 31, 2021 $ 96,600 $ 2,843,900 $ 1,605,000 $ 525,600 $ 1,619,600 (4) $ 6,690,700 Increase in borrowing - - - 4,600 (2) 258,800 (2) 263,400 Principal reductions(1) (96,600 ) (11,600 ) - - (6,800 ) (115,000 ) Long term debt to current - - - - - - Amortization of debt discount - - - - - - Balance March 31, 2022 $ - $ 2,832,300 (3) $ 1,605,000 $ 530,200 $ 1,871,600 $ 6,839,100 (1) The Payroll Protection Program final note forgiveness was confirmed during the first quarter of 2022. (2) A) Secured note payable of $ 13,300 6.5 February 15, 2025 400 100 0 4,200 250,000 8 February 10, 2027 2,700 2,700 (3) The balance consists of $ 2,410,200 422,100 (4) Secured notes. |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions [Abstract] | |
SCHEDULE OF RELATED PARTIES, NOTES PAYABLE AND ACCRUED INTEREST | Related parties accrued interest due to certain related parties are as follows: SCHEDULE OF RELATED PARTIES, NOTES PAYABLE AND ACCRUED INTEREST March 31, December 31, 2022 2021 (unaudited) Short term notes $ 125,000 $ 125,000 Accrued interest 63,000 55,800 Total short-term notes and accrued interest - Related parties $ 188,000 $ 180,800 |
NET GAIN OR LOSS PER SHARE (Tab
NET GAIN OR LOSS PER SHARE (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES | Potentially dilutive securities were comprised of the following (unaudited): SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES 2022 2021 Three Months Ended March 31, 2022 2021 Warrants 200,000 271,000 Options 1,590,000 1,640,000 Convertible notes payable, including accrued interest 3,120,500 2,918,900 Potentially dilutive securities 4,910,500 4,829,900 |
ABANDONMENT OF SUBSIDIARY (Tabl
ABANDONMENT OF SUBSIDIARY (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS | Major classes of line items constituting pretax income on discontinued operations: SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS 2022 2021 For the three months ended March 31, 2022 2021 Services revenue $ - $ 177,200 Services costs - (179,600 ) General and administrative expenses - (2,700 ) Salaries and related expenses - (29,000 ) Other income - 67,600 Gain on debt extinguishment - - Total expenses - (143,700 ) Operating income - 33,500 Income tax benefit - - Total income from discontinued operations $ - $ 33,500 |
SEGMENT INFORMATION AND MAJOR_2
SEGMENT INFORMATION AND MAJOR CUSTOMERS (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
SCHEDULE OF SEGMENT INFORMATION | Segment information for the three months ended March 31, 2022 (Unaudited), and 2021 is as follows: SCHEDULE OF SEGMENT INFORMATION Three Months ended March 31, Environmental Solid 2022 Solutions Waste Corporate Total Revenue $ 859,900 $ 50,000 $ - $ 909,900 Depreciation and amortization (1) 11,000 7,400 11,900 30,300 Interest expense 1,300 4,100 185,200 190,600 Net income (loss) 36,500 (5,900 ) (417,200 ) (386,600 ) Capital expenditures (cash and noncash) 28,300 - - 28,300 Total assets $ 1,547,700 $ 277,600 $ 492,500 $ 2,317,800 Environmental Solid 2021 Solutions Waste Corporate Total Revenue $ 627,800 $ 58,200 $ - $ 686,000 Depreciation and amortization (1) 17,200 8,500 8,900 34,600 Interest expense 1,400 - 192,800 194,200 Stock-based compensation - - 4,700 4,700 Net income (loss) 138,200 (22,300 ) (433,500 ) (317,600 ) Capital expenditures (cash and noncash) - - - - Total assets $ 1,470,300 $ 354,200 $ 685,000 $ 2,509,500 |
ORGANIZATION AND FINANCIAL CO_2
ORGANIZATION AND FINANCIAL CONDITION (Details Narrative) - USD ($) | 3 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | ||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||||
Retained earnings | $ 29,751,400 | $ 29,364,800 | [1] | |
Incomeloss from continuing operations | 386,600 | $ 317,600 | ||
Working capital deficit | 7,600,000 | $ 7,500,000 | ||
[custom:ProceedsFromIssuanceOfShorttermAndLongtermDebt] | 300,000 | |||
[custom:PrincipalOnShortTermNotesAndCapitalLeases] | 23,400 | |||
Net Cash Provided by (Used in) Financing Activities | $ 295,900 | $ 716,700 | ||
Paragon Waste Solutions, LLC [Member] | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||||
Noncontrolling interest, ownership percentage | 54.00% | |||
PelleChar, LLC [Member] | ||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||||
Noncontrolling interest, ownership percentage | 51.00% | |||
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
SCHEDULE OF INVENTORY (Details)
SCHEDULE OF INVENTORY (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | |||
Finished goods | $ 105,500 | $ 98,200 | |
Work in process | 15,900 | 28,400 | |
Raw materials | 9,000 | 75,100 | |
Inventory, net | $ 130,400 | $ 201,700 | [1] |
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accounting Policies [Abstract] | ||
Research and development expenses | $ 0 | $ 0 |
Adjustments for uncertain tax positions | 0 | 0 |
Interest and penalties related to uncertain tax positions | $ 0 | $ 0 |
SCHEDULE OF DISAGGREGATION OF R
SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Management fees | $ 909,900 | $ 686,000 |
Total Revenue | 909,900 | 744,200 |
Product Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 666,300 | 431,600 |
Media Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 193,600 | 254,400 |
Licensing Fees [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 8,200 | |
Management Fees [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 50,000 | 50,000 |
Environmental Solutions [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 859,900 | 627,800 |
Total Revenue | 859,900 | 686,000 |
Environmental Solutions [Member] | Product Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 666,300 | 431,600 |
Environmental Solutions [Member] | Media Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 193,600 | 254,400 |
Environmental Solutions [Member] | Licensing Fees [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | ||
Environmental Solutions [Member] | Management Fees [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | ||
Solid Waste [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 50,000 | 58,200 |
Total Revenue | 50,000 | 58,200 |
Solid Waste [Member] | Product Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | ||
Solid Waste [Member] | Media Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | ||
Solid Waste [Member] | Licensing Fees [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | 8,200 | |
Solid Waste [Member] | Management Fees [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Management fees | $ 50,000 | $ 50,000 |
SCHEDULE OF CONTRACT BALANCES (
SCHEDULE OF CONTRACT BALANCES (Details) - USD ($) | 3 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | ||
Revenue: | ||||
Accounts Receivable, net | $ 729,600 | $ 536,600 | ||
Contract Assets | 14,900 | 3,600 | [1] | |
Contract Liabilities | 523,500 | $ 525,900 | ||
Accounts Receivable, net | 193,000 | |||
Contract Assets | 11,300 | $ (6,800) | ||
Contract Liabilities | $ (2,400) | $ 84,600 | ||
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
REVENUE (Details Narrative)
REVENUE (Details Narrative) $ in Millions | Mar. 31, 2022USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 1.6 |
Next 12 Months [Member] | |
Revenue, Remaining Performance Obligation, Percentage | 85.00% |
SCHEDULE OF PROPERTY PLANT AND
SCHEDULE OF PROPERTY PLANT AND EQUIPMENT (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 1,769,900 | $ 1,741,700 | |
Less: accumulated depreciation and amortization | (1,333,400) | (1,308,700) | |
Property and equipment, net | 436,500 | 433,000 | [1] |
Field and Shop Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 578,000 | 553,200 | |
Vehicles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 72,500 | 72,500 | |
Waste Destruction Equipment, Placed in Service [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 553,300 | 553,300 | |
Furniture and Office Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 345,800 | 342,400 | |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 36,200 | 36,200 | |
Building and Building Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 21,200 | 21,200 | |
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 162,900 | $ 162,900 | |
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT FOR LEASES CAPITALIZED (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Abstract] | ||
Vehicles, field and shop equipment | $ 10,200 | $ 10,200 |
Less: accumulated amortization | (10,200) | (10,200) |
Property and equipment for lease capitalized |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Impaired Assets to be Disposed of by Method Other than Sale [Line Items] | ||
Depreciation | $ 24,800 | $ 26,500 |
Cost of Sales [Member] | ||
Impaired Assets to be Disposed of by Method Other than Sale [Line Items] | ||
Depreciation | 18,400 | 20,100 |
Selling, General and Administrative Expenses [Member] | ||
Impaired Assets to be Disposed of by Method Other than Sale [Line Items] | ||
Depreciation | $ 6,400 | $ 6,400 |
SCHEDULE OF INTANGIBLE ASSETS (
SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 1,397,100 | $ 1,397,100 |
Accumulated amortization | (983,300) | (977,800) |
Net carrying value | 413,800 | 419,300 |
Goodwill [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 277,800 | 277,800 |
Accumulated amortization | ||
Net carrying value | 277,800 | 277,800 |
Customer List [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 42,500 | 42,500 |
Accumulated amortization | (42,500) | (42,500) |
Net carrying value | ||
Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,021,900 | 1,021,900 |
Accumulated amortization | (885,900) | (880,400) |
Net carrying value | 136,000 | 141,500 |
Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 54,900 | 54,900 |
Accumulated amortization | (54,900) | (54,900) |
Net carrying value |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Selling, General and Administrative Expenses [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of Intangible Assets | $ 5,500 | $ 8,000 |
Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 7 years | |
Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 20 years |
SCHEDULE OF RIGHT-OF-USE ASSETS
SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Leases | ||
Cash paid for operating lease liabilities | $ 36,700 | $ 77,000 |
Right-of-use assets obtained in exchange for new operating lease obligations | ||
Weighted-average remaining lease term | 53 months | 0 months |
Weighted-average discount rate | 10.00% | 10.00% |
SCHEDULE OF MATURITIES OF LEASE
SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | [1] | Jan. 01, 2019 |
Leases | ||||
2023 | $ 86,300 | |||
2024 | 88,900 | |||
2025 | 91,600 | |||
2026 | 94,300 | |||
2027 | 40,300 | |||
Thereafter | ||||
Lease liabilities | 401,400 | |||
Less imputed interest | (79,200) | |||
Total lease liabilities | 322,200 | $ 246,100 | ||
Current operating lease liabilities | 56,700 | $ 54,700 | ||
Non-current operating lease liabilities | $ 265,500 | $ 280,300 | ||
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
LEASES (Details Narrative)
LEASES (Details Narrative) - USD ($) | 3 Months Ended | |||
Mar. 31, 2022 | Dec. 31, 2021 | [1] | Jan. 01, 2019 | |
Lease renewal term | 1 year | |||
Operating lease right of use asset | $ 289,600 | $ 302,300 | $ 225,300 | |
Operating lease liability | 322,200 | $ 246,100 | ||
Operating lease costs | $ 20,900 | |||
Minimum [Member] | ||||
Lease term | 1 year | |||
Maximum [Member] | ||||
Lease term | 8 years | |||
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
SCHEDULE OF ACCRUED LIABILITIES
SCHEDULE OF ACCRUED LIABILITIES (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | |
Payables and Accruals [Abstract] | |||
Accrued compensation and related taxes | $ 158,500 | $ 124,600 | |
Accrued interest | 1,980,500 | 1,818,500 | |
Accrued settlement/litigation claims | 150,000 | 150,000 | |
Warranty and defect claims | 40,500 | 40,000 | |
Other | 102,600 | 97,000 | |
Total Accrued Liabilities | $ 2,432,100 | $ 2,230,100 | [1] |
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
SCHEDULE OF UNCOMPLETED CONTRAC
SCHEDULE OF UNCOMPLETED CONTRACTS (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | |
Contractors [Abstract] | |||
Revenue recognized | $ 679,300 | $ 285,600 | |
Less: billings to date | (664,400) | (282,000) | |
Contract assets | 14,900 | 3,600 | |
Billings to date | 1,032,000 | 1,578,300 | |
Revenue recognized | (508,500) | (1,052,400) | |
Contract liabilities | $ 523,500 | $ 525,900 | [1] |
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
INVESTMENT IN PARAGON WASTE S_2
INVESTMENT IN PARAGON WASTE SOLUTIONS LLC (Details Narrative) $ in Millions | Mar. 31, 2022USD ($) |
Paragon Waste Solutions, LLC [Member] | |
Payment for funding of subsidiary | $ 6.4 |
SCHEDULE OF DEBT (Details)
SCHEDULE OF DEBT (Details) | 3 Months Ended | |
Mar. 31, 2022USD ($) | ||
Short-Term Debt [Line Items] | ||
Debt, beginning balance | $ 6,690,700 | |
Increase in borrowing | 263,400 | |
Principal reductions | (115,000) | [1] |
Long term debt to current | ||
Amortization of debt discount | ||
Debt, ending balance | 6,839,100 | |
Paycheck Protection Program [Member] | ||
Short-Term Debt [Line Items] | ||
Debt, beginning balance | 96,600 | |
Increase in borrowing | ||
Principal reductions | (96,600) | [1] |
Long term debt to current | ||
Amortization of debt discount | ||
Debt, ending balance | ||
Short Term Notes [Member] | ||
Short-Term Debt [Line Items] | ||
Debt, beginning balance | 2,843,900 | |
Increase in borrowing | ||
Principal reductions | (11,600) | [1] |
Long term debt to current | ||
Amortization of debt discount | ||
Debt, ending balance | 2,832,300 | [2] |
Convertible Notes, Unsecured [Member] | ||
Short-Term Debt [Line Items] | ||
Debt, beginning balance | 1,605,000 | |
Increase in borrowing | ||
Principal reductions | [1] | |
Long term debt to current | ||
Amortization of debt discount | ||
Debt, ending balance | 1,605,000 | |
Current Portion of Long Term Debt and Capital Lease Obligations [Member] | ||
Short-Term Debt [Line Items] | ||
Debt, beginning balance | 525,600 | |
Increase in borrowing | 4,600 | [3] |
Principal reductions | [1] | |
Long term debt to current | ||
Amortization of debt discount | ||
Debt, ending balance | 530,200 | |
Long Term Debt and Capital Lease Obligations [Member] | ||
Short-Term Debt [Line Items] | ||
Debt, beginning balance | 1,619,600 | [4] |
Increase in borrowing | 258,800 | [3] |
Principal reductions | (6,800) | [1] |
Long term debt to current | ||
Amortization of debt discount | ||
Debt, ending balance | $ 1,871,600 | |
[1] | The Payroll Protection Program final note forgiveness was confirmed during the first quarter of 2022. | |
[2] | The balance consists of $ 2,410,200 422,100 | |
[3] | A) Secured note payable of $ 13,300 6.5 February 15, 2025 400 100 0 4,200 250,000 8 February 10, 2027 2,700 2,700 | |
[4] | Secured notes. |
SCHEDULE OF DEBT (Details) (Par
SCHEDULE OF DEBT (Details) (Parethetical) - USD ($) | Mar. 15, 2022 | Feb. 11, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Short-Term Debt [Line Items] | ||||
Interest payable | $ 1,980,500 | $ 1,818,500 | ||
Secured Note Payable [Member] | ||||
Short-Term Debt [Line Items] | ||||
Debt principal amount | $ 13,300 | |||
Note payable, interest | 6.50% | |||
Note payable, maturity date | Feb. 15, 2025 | |||
Monthly periodic payment | $ 400 | |||
Interest expense | 100 | |||
Interest payable | 0 | |||
Long term debt current | 4,200 | |||
Note Payable [Member] | ||||
Short-Term Debt [Line Items] | ||||
Debt principal amount | $ 250,000 | |||
Note payable, interest | 8.00% | |||
Note payable, maturity date | Feb. 10, 2027 | |||
Interest expense | 2,700 | |||
Interest payable | 2,700 | |||
Secured Notes [Member] | ||||
Short-Term Debt [Line Items] | ||||
Notes payable | 2,410,200 | |||
Unsecured Notes Payable [Member] | ||||
Short-Term Debt [Line Items] | ||||
Notes payable | $ 422,100 |
SCHEDULE OF RELATED PARTIES, NO
SCHEDULE OF RELATED PARTIES, NOTES PAYABLE AND ACCRUED INTEREST (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |||
Short term notes | $ 125,000 | $ 125,000 | |
Accrued interest | 63,000 | 55,800 | |
Total short-term notes and accrued interest - Related parties | $ 188,000 | $ 180,800 | [1] |
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |
EQUITY TRANSACTIONS (Details Na
EQUITY TRANSACTIONS (Details Narrative) | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Non-controlling interest, description | The non-controlling interest presented in our condensed consolidated financial statements reflects a 46% non-controlling equity interest in PWS and 49% non-controlling equity interest in PelleChar |
CUSTOMER CONCENTRATIONS (Detail
CUSTOMER CONCENTRATIONS (Details Narrative) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenue Benchmark [Member] | Customer [Member] | Customer Concentration Risk [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 68.00% | 64.00% |
SCHEDULE OF POTENTIALLY DILUTIV
SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES (Details) - shares | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities | 4,910,500 | 4,829,900 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities | 200,000 | 271,000 |
Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities | 1,590,000 | 1,640,000 |
Convertible Notes Payable, Including Accrued Interest [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities | 3,120,500 | 2,918,900 |
SCHEDULE OF DISPOSAL GROUPS, IN
SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Discontinued Operations and Disposal Groups [Abstract] | ||
Services revenue | $ 177,200 | |
Services costs | (179,600) | |
General and administrative expenses | (2,700) | |
Salaries and related expenses | (29,000) | |
Other income | 67,600 | |
Gain on debt extinguishment | ||
Total expenses | (143,700) | |
Operating income | 33,500 | |
Income tax benefit | ||
Total income from discontinued operations | $ 33,500 |
ABANDONMENT OF SUBSIDIARY (Deta
ABANDONMENT OF SUBSIDIARY (Details Narrative) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Discontinued Operations and Disposal Groups [Abstract] | |
Gain loss on abandonment | $ 1.5 |
SCHEDULE OF SEGMENT INFORMATION
SCHEDULE OF SEGMENT INFORMATION (Details) - USD ($) | 3 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | [1] | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 909,900 | $ 686,000 | ||
Depreciation and amortization (1) | 30,300 | 34,600 | ||
Interest expense | 190,600 | 194,200 | ||
Net income (loss) | (386,600) | (317,600) | ||
Capital expenditures (cash and noncash) | 28,300 | |||
Total assets | 2,317,800 | 2,509,500 | $ 2,237,200 | |
Stock-based compensation | 4,700 | |||
Environmental Solutions [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 859,900 | 627,800 | ||
Depreciation and amortization (1) | 11,000 | 17,200 | ||
Interest expense | 1,300 | 1,400 | ||
Net income (loss) | 36,500 | 138,200 | ||
Capital expenditures (cash and noncash) | 28,300 | |||
Total assets | 1,547,700 | 1,470,300 | ||
Stock-based compensation | ||||
Solid Waste [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 50,000 | 58,200 | ||
Depreciation and amortization (1) | 7,400 | 8,500 | ||
Interest expense | 4,100 | |||
Net income (loss) | (5,900) | (22,300) | ||
Capital expenditures (cash and noncash) | ||||
Total assets | 277,600 | 354,200 | ||
Stock-based compensation | ||||
Corporate Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | ||||
Depreciation and amortization (1) | 11,900 | 8,900 | ||
Interest expense | 185,200 | 192,800 | ||
Net income (loss) | (417,200) | (433,500) | ||
Capital expenditures (cash and noncash) | ||||
Total assets | $ 492,500 | 685,000 | ||
Stock-based compensation | $ 4,700 | |||
[1] | These numbers were derived from the audited financial statements for the year ended December 31, 2021. |