Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 15, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Registrant Name | Enservco Corporation | ||
Entity Central Index Key | 0000319458 | ||
Trading Symbol | ensv | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 11,267,946 | ||
Entity Public Float | $ 7.1 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common stock, $0.005 par value |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 1,467,000 | $ 663,000 |
Accounts receivable, net | 1,733,000 | 6,424,000 |
Prepaid expenses and other current assets | 858,000 | 1,016,000 |
Inventories | 295,000 | 398,000 |
Income tax receivable, current | 43,000 | |
Assets held for sale | 527,000 | |
Current assets of discontinued operations | 187,000 | |
Total current assets | 4,880,000 | 8,731,000 |
Property and equipment, net | 20,317,000 | 26,620,000 |
Goodwill | 546,000 | 546,000 |
Intangible assets, net | 617,000 | 828,000 |
Income tax receivable, non-current | 14,000 | |
Right-of-use asset - finance, net | 129,000 | 569,000 |
Right-of-use asset - operating, net | 2,918,000 | 3,793,000 |
Other assets | 423,000 | 445,000 |
Non-current assets of discontinued operations | 353,000 | 1,430,000 |
TOTAL ASSETS | 30,183,000 | 42,976,000 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 1,931,000 | 4,470,000 |
Senior revolving credit facility, related party (including future interest payable of $892 and $0, respectively - see Note 2 and Note 7) | 1,593,000 | 33,994,000 |
Subordinated debt, related party (Note 2) | 2,381,000 | |
Lease liability - finance, current | 65,000 | 207,000 |
Lease liability - operating, current | 854,000 | 848,000 |
Current portion of long-term debt | 100,000 | 147,000 |
Current liabilities of discontinued operations | 31,000 | 72,000 |
Total current liabilities | 4,574,000 | 42,119,000 |
Long-Term Liabilities | ||
Senior revolving credit facility, related party (including future interest payable of $485 and $0, respectively - see Note 2 and Note 7) | 17,485,000 | |
Subordinated debt, related party (Note 2) | 1,180,000 | |
Long-term debt, less current portion | 2,052,000 | 198,000 |
Lease liability - finance, less current portion | 55,000 | 259,000 |
Lease liability - operating, less current portion | 2,185,000 | 3,009,000 |
Other liabilities | 88,000 | 33,000 |
Long-term liabilities of discontinued operations | 9,000 | 34,000 |
Total long-term liabilities | 23,054,000 | 3,533,000 |
Total liabilities | 27,628,000 | 45,652,000 |
Commitments and contingencies (Note 12) | ||
Preferred stock. $0.005 par value, 10,000,000 shares authorized, no shares issued or outstanding | ||
Common stock. $0.005 par value, 100,000,000 shares authorized, 6,307,868 and 3,709,522 shares issued as of December 31, 2020 and December 31, 2019, respectively; 6,907 shares of treasury stock as of December 31, 2020 and 2019; and 6,300,961 and 3,702,615 shares outstanding December 31, 2020 and December 31, 2019, respectively | 32,000 | 19,000 |
Additional paid-in-capital | 30,052,000 | 22,325,000 |
Accumulated deficit | (27,529,000) | (25,020,000) |
Total stockholders’ equity (deficit) | 2,555,000 | (2,676,000) |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $ 30,183,000 | $ 42,976,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Senior revolving credit facility, interest payable current | $ 892 | $ 0 |
Senior revolving credit facility, interest payable noncurrent | $ 485 | $ 0 |
Preferred stock, par value (in dollars per share) | $ 0.005 | $ 0.005 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.005 | $ 0.005 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 6,307,868 | 3,709,522 |
Common stock, shares outstanding (in shares) | 6,300,961 | 3,702,615 |
Treasury stock, shares (in shares) | 6,907 | 6,907 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 15,683 | $ 43,026 |
Expenses | ||
Cost of Revenue | 17,211 | 34,607 |
Sales, general and administrative expenses | 5,002 | 6,153 |
Patent litigation and defense costs | 10 | |
Severance and transition costs | 145 | 83 |
Loss (gain) on disposal of equipment | 47 | (73) |
Impairment loss | 733 | 127 |
Depreciation and amortization | 5,282 | 5,692 |
Total operating expenses | 28,420 | 46,599 |
Loss from operations | (12,737) | (3,573) |
Other income (expense) | ||
Interest expense | (1,695) | (2,805) |
Gain on restructuring of senior revolving credit facility (Note 7) | 11,916 | |
Gain on settlement | 1,252 | |
Other income (expense) | 126 | (162) |
Total other income (expense) | 10,347 | (1,715) |
Loss from continuing operations before income tax expense | (2,390) | (5,288) |
Income tax expense | (12) | (32) |
Loss from continuing operations | (2,402) | (5,320) |
Loss from discontinued operations (Note 6) | (107) | (2,332) |
Net loss | $ (2,509) | $ (7,652) |
Loss from continuing operations per common share – basic and diluted (in dollars per share) | $ (0.57) | $ (1.43) |
Loss from discontinued operations per common share – basic and diluted (in dollars per share) | (0.03) | (0.63) |
Net loss per share – basic and diluted (in dollars per share) | $ (0.60) | $ (2.06) |
Weighted average number of common shares outstanding – basic and diluted (in shares) | 4,174 | 3,713 |
Production Services [Member] | ||
Revenues | $ 7,714 | $ 14,704 |
Expenses | ||
Cost of Revenue | 8,410 | 13,575 |
Depreciation and amortization | 2,378 | 2,648 |
Completion Services [Member] | ||
Revenues | 7,969 | 28,322 |
Expenses | ||
Cost of Revenue | 8,801 | 21,032 |
Depreciation and amortization | $ 2,512 | $ 2,922 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Deficit) - USD ($) shares in Thousands, $ in Thousands | At-the-market Offering [Member]Common Stock Outstanding [Member] | At-the-market Offering [Member]Additional Paid-in Capital [Member] | At-the-market Offering [Member]Retained Earnings [Member] | At-the-market Offering [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 3,619 | |||||||
Balance at Dec. 31, 2018 | $ 18 | $ 22,050 | $ (17,466) | $ 4,602 | ||||
Opening balance adjustment | 98 | 98 | ||||||
Stock-based compensation, net of issuance costs | 277 | 277 | ||||||
Restricted share issuances (in shares) | 102 | |||||||
Restricted share issuances | $ 1 | (2) | (1) | |||||
Restricted share cancellations (in shares) | (18) | |||||||
Net loss | (7,652) | (7,652) | ||||||
Balance (in shares) at Dec. 31, 2019 | 3,703 | |||||||
Balance at Dec. 31, 2019 | $ 19 | 22,325 | (25,020) | (2,676) | ||||
Stock-based compensation, net of issuance costs | 392 | 392 | ||||||
Restricted share cancellations (in shares) | (50) | |||||||
Net loss | (2,509) | (2,509) | ||||||
Shares issued in at the market offering, net of offering costs (Note 2) (in shares) | 1,694 | 6 | ||||||
Shares issued | $ 8 | $ 3,293 | $ 3,301 | |||||
Shares issued to Cross River Partners, L.P. in subordinated debt and accrued interest conversion (Note 2) (in shares) | 404 | |||||||
Shares issued to Cross River Partners, L.P. in subordinated debt and accrued interest conversion (Note 2) | $ 2 | 1,513 | 1,515 | |||||
Shares and warrants issued to East West Bank in senior revolving credit facility debt restructuring (Note 2 and Note 7) (in shares) | 533 | |||||||
Shares and warrants issued to East West Bank in senior revolving credit facility debt restructuring (Note 2 and Note 7) | $ 3 | 2,529 | 2,532 | |||||
Additional shares issued due to rounding up of fractional shares in connection with reverse stock split (in shares) | 11 | |||||||
Balance (in shares) at Dec. 31, 2020 | 6,301 | |||||||
Balance at Dec. 31, 2020 | $ 32 | $ 30,052 | $ (27,529) | $ 2,555 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
OPERATING ACTIVITIES | ||
Net loss | $ (2,509,000) | $ (7,652,000) |
Net loss from discontinued operations | (107,000) | (2,332,000) |
Net loss from continuing operations | (2,402,000) | (5,320,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 5,282,000 | 5,692,000 |
Loss (gain) on disposal of property and equipment | 47,000 | (73,000) |
Impairment loss | 733,000 | 127,000 |
Gain on settlement | (1,252,000) | |
Stock-based compensation | 392,000 | 275,000 |
Amortization of debt issuance costs and discount | 131,000 | 321,000 |
Gain on restructuring of senior revolving credit facility | (11,916,000) | |
Gain on early termination of finance leases | (3,000) | 62,000 |
Interest paid-in-kind on line of credit | 326,000 | |
Provision for bad debt expense | 140,000 | 160,000 |
Changes in operating assets and liabilities | ||
Accounts receivable | 4,551,000 | 3,257,000 |
Inventories | 103,000 | 116,000 |
Prepaid expenses and other current assets | 157,000 | 17,000 |
Income taxes receivable | 43,000 | 43,000 |
Amortization of operating lease assets | 829,000 | 736,000 |
Other assets | 1,000 | 274,000 |
Accounts payable and accrued liabilities | (2,272,000) | 1,328,000 |
Operating lease liabilities | (771,000) | (727,000) |
Other liabilities | 54,000 | 44,000 |
Net cash (used in) provided by operating activities - continuing operations | (4,575,000) | 5,080,000 |
Net cash provided by (used in) operating activities - discontinued operations | 132,000 | (613,000) |
Net cash (used in) provided by operating activities | (4,443,000) | 4,467,000 |
INVESTING ACTIVITIES | ||
Purchases of property and equipment | (361,000) | (1,191,000) |
Proceeds from insurance claims | 294,000 | 49,000 |
Proceeds from disposal of property and equipment | 329,000 | 284,000 |
Net cash provided by (used in) investing activities - continuing operations | 262,000 | (858,000) |
Net cash provided by investing activities - discontinued operations | 765,000 | 400,000 |
Net cash provided by (used in) investing activities | 1,027,000 | (458,000) |
FINANCING ACTIVITIES | ||
Gross proceeds from stock issuance | 3,597,000 | |
Stock issuance costs and registration fees | (296,000) | |
Net line of credit (repayments) borrowings | (795,000) | 61,000 |
Proceeds from issuance of long-term debt | 1,940,000 | 500,000 |
Repayment of long-term debt | (134,000) | (115,000) |
Repayment of note | (3,700,000) | |
Payments of finance leases | (159,000) | (326,000) |
Proceeds from sale of finance lease assets | 67,000 | |
Other financing | (1,000) | |
Net cash provided by (used in) financing activities - continuing operations | 4,220,000 | (3,581,000) |
Net cash used in financing activities - discontinued operations | (22,000) | |
Net cash provided by (used in) financing activities | 4,220,000 | (3,603,000) |
Net increase in Cash and Cash Equivalents | 804,000 | 406,000 |
Cash and Cash Equivalents, beginning of period | 663,000 | 257,000 |
Cash and Cash Equivalents, end of period | 1,467,000 | 663,000 |
Supplemental cash flow information: | ||
Cash paid for interest | 1,414,000 | 2,281,000 |
Cash paid for income taxes | 2,000 | 32,000 |
Supplemental Disclosure of Non-cash Investing and Financing Activities: | ||
Non-cash reduction of senior revolving credit facility | 16,000,000 | |
Non-cash issuance of common stock and warrants in connection with restructuring of senior revolving credit facility | 2,532,000 | |
Non-cash conversion of subordinated debt and accrued interest to common stock | 1,515,000 | |
Non-cash conversion of accrued interest to senior revolving credit facility debt | 326,000 | |
Non-cash proceeds from senior revolving credit facility debt | $ 125,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 – Basis of Presentation Enservco Corporation (“ Enservco”) through its wholly owned subsidiaries (collectively referred to as the “Company”, “we” or “us”) provides various services to the domestic onshore oil and natural gas industry. These services include frac water heating (Completion and other services); and hot oiling and acidizing (Production services). The accompanying condensed consolidated financial statements have been derived from the accoun ting records of Enservco Corporation, Heat Waves Hot Oil Service LLC (“Heat Waves”), Dillco Fluid Service, Inc. (“Dillco”), Heat Waves Water Management LLC (“HWWM”), and Adler Hot Oil Service, LLC ("Adler") (collectively, the “Company”) as of December 31, 2020 2019 The below table provides an overview of the Company 's current ownership hierarchy: Name State of Formation Ownership Business Heat Waves Hot Oil Service LLC Colorado 100% by Enservco Oil and natural gas well services, including logistics and stimulation. Adler Hot Oil Service, LLC Delaware 100% by Enservco Operations integrated into Heat Waves during 2019. Heat Waves Water Management LLC Colorado 100% by Enservco Discontinued operations in 2019. Dillco Fluid Service, Inc. Kansas 100% by Enservco Discontinued operation in 2018. HE Services LLC Nevada 100% by Heat Waves No active business operations. Owns construction equipment used by Heat Waves. The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All significant inter-company balances and transactions have been eliminated in the accompanying consolidated financial statements. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies and Recent Developments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2 Recent Developments and Going Concern Assessment As of December 31, 2019, August 10, 2017, 2017 "2017 three $37.0 September 23, 2020, $16.0 533,334 1,000,000 October 15, 2021. February 1, 2021, October 15, 2022, The Fifth Amendment modified certain covenants and cured our previous breaches of two On August 13, 2020, 50%, $1.25 $265,000 403,602 September 15, 2020. February 3, 2021, 50%, $1.25 $62,000 601,674 150,418 $2.507 150,418 February 3, 2022 February 3, 2026. On September 28, 2020, 3 July 24, 2020. September 29, 2020, 1,694,219 $3.5 On February 4, 2021, 1/A 1 January 21, 2021. February 10, 2021, 4,199,998 $2.30 $9.0 $3.0 Our financial statements have been prepared on the going concern basis, which contemplates the continuity of normal business activities and the realization of assets and settlement of liabilities in the normal course of business. For the twelve December 31, 2020 2019, $2.5 $7.7 December 31, 2020, $4.9 $4.6 $306,000. December 31, 2019, $42.1 $8.7 $33.4 2020, no one March 23, 2022. Recent Market Conditions The COVID- 19 February 2020, 19 March second may not 19 In addition, certain producing countries within the Organization of Petroleum Exporting Countries and their allies ("OPEC+") group attempted to increase market share through pricing activity that has had limited impact on the severe decline in domestic oil prices that occurred during the first 2020, no not The full extent of the impact of COVID- 19 may Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three ess to be cash equivalents. The Company continually monitors its positions with, and the credit quality of, the financial institutions with which it invests. Enservco maintains its excess cash in various financial institutions, where deposits may Accounts Receivable Accounts receivable are stated at the amounts billed to customers, net of an allowance fo r uncollectible accounts. The Company provides an allowance for uncollectible accounts based on a review of outstanding receivables, historical collection information and existing economic conditions. The allowance for uncollectible amounts is continually reviewed and adjusted to maintain the allowance at a level considered adequate to cover future losses. The allowance is management's best estimate of uncollectible amounts and is determined based on historical collection experience related to accounts receivable coupled with a review of the current s December 31, 2020 and 2019, $322,000 $246,000, December 31, 2020 2019, $140,000 $160,000, spectively, to bad debt expense. Concentrations As of December 31, 2020, one 10% 26%. one 14% December 31, 2020. December 31, 2019, two 10% 16% 11% one 11% December 31, 2019. Inventories Inventory consists primarily of propane, diesel fuel and chemicals that are used in the servicing of oil wells and is carried at the lower of cost or net realizable value in accordance with the first first December 31, 2020 2019, $18,000 $0, Property and Equipment Property and equipment consist of ( 1 2 3 sed for the disposal of water; and ( 4 5 30 Any difference between net book value of the property and equipment and the proceeds of an assets ' sale or settlement of an insurance claim is recorded as a gain or loss in the Company's earnings. Leases The Company assesses whether an arrangement is a lease at inception. Leases with an initial term of 12 not not not The Company conducts a m ajor part of its operations from leased facilities not The Company amortizes leasehold improvements over the shorter of the life of the lease or the life of the improvements. The Company has leased trucks and equipment in the normal course of business, which may le; there were no Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not first 2020, 19 fourth 2020, 19 70% fourth 2020 2019. first fourth 2020. The Company determined that there was no twelve December 31, 2020. fourth 2020 December 31, 2019, $127,000 second 2020. Assets Held for Sale The Company classifies long-lived assets to be sold as held for sale in the period in which all of the following criteria are met: ( 1 2 3 4 one one 5 6 We initially measure a long-lived asset or disposal group that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not not December 31, 2020 2019, $733,000 $0, Upon determining that a long-lived asset or disposal group meets the criteria to be classified as held for sale, the Company ceases depreciation and reports long-lived assets and/or the assets and liabilities of the disposal group, if material, in the line items assets held for sale in our consolidated balance sheets. Refer to Note 2. Goodwill and Other Intangible Assets Goodwill represents the excess purchase price over the fair value of identifiable assets received attributable to business acquisitions and combinations. Goodwill and other intangible assets are measured for impairment at least annually and/or whenever events and circumstances arise that indicate impairment may The Company completed its annual goodwill impairment test as of December 31, 2020. As a result of performing the annual test of impairment, the Company recognized no December 31, 2020. Revenue Recognition The Company evaluates revenue when we can identify the contract with the customer, the performance obligations in the contract, the transaction price, and we are certain that the performance obligations have been met. Revenue is recognized when the service has been provided to the customer. The vast majority of the Company's services and product offerings are short-term in nature. The time between invoicing and when payment is due under these arrangements is generally 30 60 not The Company's agreements with its customers are often referred to as “price sheets” and sometimes provide pricing for multiple services. However, these agreements generally do not not Revenue is recognized for certain projects that take more than one Disaggregation of Revenue See Note 13 Earning s (Loss) Per Share Earnings per Common Share - Basic is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Earnings per Common Share - Diluted earnings is calculated by dividing net income (loss) by the diluted weigh ted average number of common shares. The diluted weighted average number of common shares is computed using the treasury stock method for common stock that may As of December 31, 2020 2019, were outstanding stock options, warrants and unvested restricted stock awards to acquire an aggregate of 1,079,628 and 307,111 December 31, 2020 and 2019, these outstanding stock options, unvested restricted stock awards and warrants had no December 31, 2020 2019, not not December 31, 2020 2019. Offering Costs The Company complies with the requirements of ASC 340 10 S99 1 5A December 31, 2020 December 31, 2019, $296,000 $0, Der ivative Instruments From time to time, the Company has interest rate swap agreements in place to hedge against changes in interest rates. The fair value of the Company's derivative instruments are reflected as assets or liabilities on the balance sheet. The accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the resulting designation. Transactions related to the Company's derivative instruments accounted for as hedges are classified in the same category as the item hedged in the consolidated statement of cash flows. The Company did not December 31, 2020 2019, On February 23, 2018, 2017 $10.0 2.52% second 2020, $0 $23,000 Income Taxes The Company recognizes deferred tax liabilities and assets (Note 9 based on the differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements that will result in taxable or deductible amounts in future years. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities will be recognized in income in the period that includes the enactment date. A deferred tax asset or liability that is not not The Company accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if, in the Company's opinion, it is more likely than not taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized in the financial statements from such a position based on the largest benefit that has a greater than 50% may not Interest and penalties associated with tax positions are recorded in the peri od assessed as expense. The Company files income tax returns in the United States and in the states in which it conducts its business operations. The Company's United States federal income tax filings for tax years 2017 2020 2016 2020. Fair Value The Company follows authoritative guidance that applies to all financial assets and liabilities required to be measured and reported on a fair value basis. The Company also applies the guidance to non-financial assets and liabilities measured at fair value on a nonrecurring basis, including non-competition agreements and goodwill. The guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions of what market participants would use in pricing the asset or liability based on the best information available in the circumstances. Beginning in 2017, not December 31, 2020 or 2019. The hierarchy is broken down into three Level 1: Quoted prices are available in active markets for identical assets or liabilities; Level 2: Quoted prices in active markets for similar assets and liabilities that are observable for the asset or liability; or Level 3: Unobservable pricing inputs that are generally less observable from objective sources, such as discounted cash flow models or valuations. Stock-Based Compensation Stock-based compensation cost is measured at the date of grant, based on the calculated fair value of the award as described below, and is recognized over the requisite service period, which is generally the vesting period of the equity grant. The Company uses the Black-Scholes pricing model as a method for determining the estimated grant date fair value for all stock options awarded to employees, independent contractors, officers, and directors. The expected term of the options is based upon evaluation of historical and expected exercise behavior. The risk-free interest rate is based upon U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life of the grant. Volatility is determined upon historical volatility of our stock and adjusted if future volatility is expected to vary from historical experience. The dividend yield is assumed to be none not The Company uses a Lattice model to determine the fair value of certain warrants. The expected term used was the remaining contractual term. Expected volatility is based upon historical volatility over a term consistent with the remaining term. The risk-free interest rate is derived from the yield on zero zero The Company used the market-value of Company stock to determine the fair value of the performance-based restricted stock awarded in 2019 2018. The Company used a Lattice model to determine the fair value of market-based restricted stock awarded in 2019 2018. Management Estimates The preparation of the Company 's consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the realization of accounts receivable, evaluation of impairment of long-lived assets, stock-based compensation expense, income tax provision, the valuation of warrant liability and the Company's interest rate swaps, and the valuation of deferred taxes. Actual results could differ from those estimates. Reclassifications Certain prior-period amounts have been reclassified for comparative purposes to conform to the current presentation. These reclassifications have no Business Combinations We recognize and measure the assets acquired and liabilities assumed in a business combination based on their estimated fair values at the acquisition date, with any remaining difference recorded as goodwill or gain from a bargain purchase. For material acquisitions, management typically engages an independent valuation specialist to assist with the determination of fair value of the assets acquired, liabilities assumed, noncontrolling interest, if any, and goodwill, based on recognized business valuation methodologies. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition, and not one may 4 Accounting Pronouncements Recently Adopted In February 2016, 2016 02, December 15, 2018, August 2018, 2018 11, 842, not 842, January 1, 2019 2018 11. one $2.4 not not not not not 12 In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 2017 04 . December 15, 2019. 2017 04 January 1, 2020, 2017 04. Recently Issued In June 2016, 2016 13, Financial Statements - Credit Losses (Topic 326 December 15, 2022. not 2016 13 |
Note 3 - Property and Equipment
Note 3 - Property and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 3 Property and equipment consist of the following at (amounts in thousands): December 31, December 31, 2020 2019 Trucks and vehicles $ 57,224 $ 59,788 Other equipment 1,319 1,303 Buildings and improvements 3,176 3,184 Land 378 378 Total property and equipment 62,097 64,653 Accumulated depreciation (41,780 ) (38,033 ) Property and equipment, net $ 20,317 $ 26,620 For the years ended December 31, 2020 2019, $4.9 $5.3 spectively, in depreciation expense. |
Note 4 - Business Combinations
Note 4 - Business Combinations | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 4 – Business Combinations Acquisition of Adler Hot Oil Service, LLC On October 26, 2018, $12.5 $500,000 The consideration paid or to be paid by Enservco under the Agreement originally included: (i) $3.7 $4.8 $2.5 $1.0 2019; $1.0 18 October 26, 2018, On April 4, 2019 $4,800,000 $4,500,000, March 31, 2019 April 10, 2019, nine one one second 2019, not not not no may not not The acquisition of Adler qualified as a business combination and as such, we estimated the fair value of the assets acquired and liabilities assumed as of the closing date. Additionally, we estimated the fair value of contingent consideration given. The fair value measure of the assets acquired and liabilities assumed applied various valuation methods to estimate the value of the intangibles that would provide a fair and reasonable value to a market participant, in view of the facts available at the time. Each valuation method was analyzed to determine which method would generate the most reasonable estimate of value of the Company's intangible assets as of October 26, 2018. In connection with the execution of the Settlement Agreement, we reviewed our estimates and allocation of the fair value of assets acquired, consideration transferred, and contingent consideration given in connection with the Transaction. In our judgment, the reduction in the fair value of the consideration did not $908,000, $44,000, $300,000 December 31,2019. The goodwill of approximately $245,000 None The following tables represent the consideration paid to the Seller and the estimated fair value of the assets acquired and liabilities assumed. Consideration paid to Seller: Cash consideration, including payment to retire Adler debt $ 6,206 Subordinated note, net of discount 4,580 Indemnity holdback at fair value 873 Earnout at fair value 44 Net purchase price $ 11,703 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash $ 43 Accounts receivable, net 1,317 Prepaid expenses and other current assets 239 Property, plant, and equipment 9,664 Intangible assets 1,045 Accounts payable and accrued liabilities (850 ) Total identifiable net assets 11,458 Goodwill 245 Total identifiable assets acquired $ 11,703 Subordinated Note In connection with the Transaction and pursuant to the terms of the Agreement, on October 26, 2018, $4.8 $4.5 8% November 30, 2018 $800,000, February 28, 2019 $200,000, April 9, 2019, 10 April 19, 2019, no Second Amendment to Loan and Security Agreement and Consent In connection with the Transaction, on October 26, 2018, August 10, 2017 $37.0 $6.2 $3.0 $2.5 On October 26, 2018, |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 5 – Intangible Assets The components of our intangible assets as of December 31, 2020 2019 December 31, 2020 2019 Customer relationships $ 626 $ 626 Patents and trademarks 441 441 Total intangible assets 1,067 1,067 Accumulated amortization (450 ) (239 ) Net carrying value $ 617 $ 828 The useful lives of our intangible assets are estimated to be five $211,000 2020 $205,000 2019. The following table represents the amortization expense for the next five 2021 2022 2023 2024 2025 Customer relationships $ 125 $ 125 $ 104 $ - $ - Intellectual property 93 93 77 - - Total intangible asset amortization expense $ 218 $ 218 $ 181 $ - $ - |
Note 6 - Discontinued Operation
Note 6 - Discontinued Operations | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 6 – Discontinued Operations Heat Waves Water Management During December, 2019, 2020. December 31, 2019, no Dillco Effective November 1, 2018, December 2018, $129,000. $130,000 December 31, 2018. The following table represents a reconciliation of the carrying amounts of major classes of assets and liabilities disclosed as discontinued operations in the Balance Sheets: December 31, December 31, 2020 2019 Carrying amount of major classes of assets included as part of discontinued operations: Accounts receivable, net $ - $ 175 Property and equipment, net 321 1,373 Prepaid expenses and other current assets - 12 Other assets 32 57 Total major classes of assets of discontinued operations $ 353 $ 1,617 Carrying amounts of major classes of liabilities included as part of discontinued operations: Accounts payable and accrued liabilities 6 47 Other liabilities 34 59 Total liabilities included as part of discontinued operations $ 40 $ 106 The following table represents a reconciliation of the major classes of line items constituting pretax loss of discontinued operations that are disclosed as discontinued operations in the Statements of Operations: December 31, December 31, 2020 2019 Revenue $ - $ 3,303 Cost of sales (11 ) (4,446 ) Sales, general, and administrative expenses - (23 ) Depreciation and amortization (26 ) (1,177 ) Other income and expense items that are not major (70 ) 11 Total loss on discontinued operations that is presented in the Statements of Operations $ (107 ) $ (2,332 ) |
Note 7 - Debt
Note 7 - Debt | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 7 – Debt East West Bank Revolving Credit Facility The 2017 2 85% 85% $16.0 $17.0 $1.0 January 1, 2021. no October 15, 2022, 8.25%. first 5.25% 3.00% 0.5% As of December 31, 2020, $17.7 8.25% December 31, 2020, 2017 $0.3 $19.1 December 31, 2020 $1.4 470 60, Under the amended 2017 ( 1 December 31, 2020, not $1.5 ( 2 three three March 31, 2021, seventy 70% ( 3 $1.2 In connection with amending the 2017 September 23, 2020, 533,334 a five 1,000,000 $3.75 533,334 $2.0775 $1.1 533,334 March 23, 2021. 1,000,000 September 23, 2021 September 23, 2025. $1.4 $11.9 December 31, 2020, $16.0 $2.85 December 31, 2020. Debt Issuance Costs We have capitalized certain debt issuance costs incurred in connection with the Credit Facility discussed above and these costs are being amortized to interest expense over the term of the facility on a straight-line basis. The long-term portion of debt issuance costs of approximately $0 $82,000 December 31, 2020 2019, uring the years ended December 31, 2020 2019, 82,00 0 140,000 , respectively, of these costs to Interest Expense. Paycheck Protection Program On April 10, 2020, $1,939,900, March 27, 2020 The Note matures on April 10, 2022 1.00% April 10, 2022. may no may February 15, 2020. may On November 9, 2020, 10 not Notes Payable Long-term debt consists of the following (in thousands): December 31, December 31, 2020 2019 Senior Revolving Credit Facility with related party. All future interest through October 15, 2021 accrued to loan pursuant to the Fifth Amendment. Interest at 8.25%, 5.25% is paid monthly while 3% is accrued and paid upon maturity. Matures October 15, 2022. See Note 2 - Summary of Significant Accounting Policies and Recent Developments for discussion of principal payment subsequent to December 31, 2020. $ 19,078 $ 33,994 Paycheck Protection Loan. Interest is at 1% with payments deferred until October 10, 2020. Matures April 10, 2022. 1,940 - Subordinated Promissory Notes with related party, Interest at 10% and is paid quarterly. Matures June 28, 2022. See Note 2 - Summary of Significant Accounting Policies and Recent Developments for discussion of conversion of outstanding debt balance subsequent to December 31, 2020. 1,250 2,500 Real Estate Loan for a facility in North Dakota, interest at 5.75% and monthly principal and interest payment of $5,255 until October 3, 2028. Collateralized by land and property purchased with the loan. 167 218 Vehicle loans for three pickups, interest at 8.59%, monthly principal and interest payments of $3,966. Matures in August 2021. 31 74 Note payable to the seller of Heat Waves. The note was garnished by the Internal Revenue Service (“ IRS”) in 2009 and is due on demand; paid in annual installments of $36,000 per agreement with the IRS. 14 53 Total 22,480 36,839 Less debt discount (70 ) (119 ) Less current portion (1,693 ) (36,522 ) Long-term debt, net of debt discount and current portion $ 20,717 $ 198 Aggregate maturities of debt are as follows (in thousands): Years Ended December 31, 2021 $ 1,693 2022 20,733 2023 54 Total $ 22,480 |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 8 The following table presents the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis by level within the fair value hierarchy (in thousands): Fair Value Measurement Using Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Measurement December 31, 2020 Derivative Instrument Interest rate swap liability $ - $ - $ - $ - December 31, 2019 Derivative Instrument Interest rate swap liability $ - $ 23 $ - $ 23 The following table represents a reconciliation of our Level 3 Year Ended December 31, 2020 2019 Fair value of Level 3 instrument at the beginning of the period - 931 Less: Settlement of Adler liability - (931 ) Fair value of Level 3 instrument at the end of period $ - $ - Derivative Instruments The fair value of the interest rate swap is estimated using a discounted cash flow model. Such models involve using market-based observable inputs, including interest rate curves. We incorporate credit valuation adjustments to appropriately reflect both our nonperformance risk and respective counterparty's nonperformance risk in the fair value measurements, which we have concluded are not not 2. The fair value of the Indemnity Holdback Payment liability was estimated based on the present value using a risk-adjusted interest rate of 9.5%. 9.5%. Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities are not December 31, 2020 2019, The Company did not 1, 2 3 December 31, 2020 2019. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 9 – Income Taxes The income tax provision (benefit) from operations consists of the following (in thousands): December 31, 2020 2019 Current Federal $ - $ - State 12 32 Total Current 12 32 Deferred Federal - - State - - Total Deferred - - Total Income Tax Benefit $ 12 $ 32 A reconciliation of computed income taxes by applying the statutory federal income tax rate of 21% December 31, 2020 2019 December 31, 2020 2019 Computed income taxes at 21% for 2020 and 2019, respectively $ (502 ) $ (1,118 ) (Decrease) increase in income taxes resulting from: State and local income taxes, net of federal impact (72 ) (154 ) Change in valuation allowance 571 1,298 Stock-based compensation 1 14 Other 14 (8 ) Benefit for income taxes $ 12 $ 32 In assessing the realization of deferred tax assets, management considers whether it is more likely than not not realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management recorded a valuation allowance to reduce its net deferred tax assets to zero. We have a requirement of reporting of taxes based on tax positions which meet a more likely than not not Differences between financial and tax reporting which do not December 31, 2020 2019, not The Company has approximately $28.2 2036. The components of deferred income taxes for the years ended December 31, 2020 2019 December 31, 2020 2019 Deferred tax assets Reserves and accruals $ 183 $ 1,040 Amortization 53 (12 ) Capital losses and other 13 11 Non-qualified stock option expense 194 182 Loss Carryforwards 7,066 6,897 Total deferred tax assets 7,509 8,118 Valuation allowance (4,757 ) (4,951 ) Net deferred tax assets 2,752 3,167 Deferred tax liabilities Depreciation (2,752 ) (3,167 ) Total deferred tax liabilities (2,752 ) (3,167 ) Net deferred tax assets (liabilities) $ - $ - The Company uses significant judgment in forming conclusions regarding the recoverability of its deferred tax assets and evaluates all available positive and negative evidence to determine if it is more-likely-than- not not $4.8 $4.9 December 31, 2020 2019, It is possible that the relative weight of positive and negative evidence regarding the realization of deferred tax assets may 's valuation allowance. Such a change could result in a material increase or decrease to income tax expense in the period the assessment was made. The Company classifies penalty and interest expense related to income tax liabilities as other ex pense. The Company did not December 31, 2020 2019, The Company files tax re turns in various states in the United States, including but not 2017 2020 remain open to examination. In general, the Company's various state tax filings remain open for tax years 2016 2020. |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 10 – Stockholders' Equity Warrants In June 2016, 2,000 $5.40 one 1,000 December 21, 2016 1,000 June 21, 2017. December 31, 2020, June 21, 2021 $10.50 On November 11, 2019, one five 41,667 $3.00 $2.40, November 11, 2024. On September 23, 2020, one five 1,000,000 $3.75 $1.42, one September 23, 2021 September 23, 2025. A summary of warrant activity for the years ended December 31, 2020 2019 Weighted Weighted Average Average Remaining Exercise Contractual Warrants Shares Price Life (Years) Outstanding at January 1, 2019 2,000 $ 10.50 2.5 Issued 41,667 3.00 4.9 Outstan ding at December 31, 2019 43,667 $ 3.34 4.7 Issued 1,000,000 3.75 4.7 Outstanding at December 31, 2020 1,043,667 $ 3.73 4.7 Exercisable at December 31, 2020 43,667 $ 3.34 3.7 |
Note 11 - Stock Options and Res
Note 11 - Stock Options and Restricted Stock | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 11 – Stock Options and Restricted Stock Stock Options On July 27, 2010, 's Board of Directors adopted the 2010 “2010 2010 15% January 1, 2016 2010 381,272 2,541,809 one three 5 2010 no 2010 December 31, 2020, 7,746 shares outstanding under the 2010 On July 18, 2016, 2016 2016 September 29, 2016. may 2016 533,334 2010 159,448 692,782 December 31, 2020, 3,823 shares and we had granted restricted stock shares of 24,393 2016 During the year ended December 31, 2020, no December 31, 2019, no December 31, 2019, 82,000 44,263 The following is a summary of stock option activity for all equity plans for the years ended December 31, 2020 2019 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2019 169,645 $ 12.75 2.54 $ 93 Forfeited or Expired (39,956 ) 26.70 - - Outstanding at December 31, 2019 129,689 $ 8.45 1.95 $ - Forfeited or Expired (118,120 ) 8.54 - - Outstanding at December 31, 2020 11,569 $ 5.87 0.53 $ - Vested at December 31, 2020 11,569 $ 5.87 0.53 $ - Exercisable at December 31, 2020 11,569 $ 5.87 0.53 $ - The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the estimated fair value of the Company 's common stock and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they exercised their options on December 31, 2020. During the years ended December 31, 2020 2019, nized stock-based compensation costs for stock options of approximately $3,000 and $ 77,000, A summary of the status of non-vested shares underlying the options are presented below: Number of Shares Weighted Average Grant- Date Fair Value Non-vested at January 1, 2019 39,589 $ 3.00 Vested (32,400 ) 2.85 Forfeited (3,656 ) 3.30 Non-vested at December 31, 2019 3,533 $ 3.30 Vested (1,755 ) 3.36 Forfeited (1,778 ) 19.29 Non-vested at December 31, 2020 - $ - As of December 31, 2020, no compensation costs related to non-vested shares under the Company's stock option plans. Restricted Stock Restricted shares issued pursuant to restricted stock awards under the 2016 three may not A summary of the restricted stock activity is presented below: Number of Shares Weighted Average Grant- Date Fair Value Restricted shares at January 1, 2019 55,778 14.70 Granted 98,200 4.05 Vested (2,888 ) 19.20 Forfeited (17,334 ) 16.80 Restricted shares at December 31, 2019 133,756 8.25 Granted 10,001 2.49 Vested (69,777 ) 6.56 Forfeited (49,587 ) 8.05 Restricted shares at December 31, 2020 24,393 7.32 During the years ended December 31, 2020 2019, $389,000 $199,000 $301,000 second 2020. 69,777 2020, 59,667 6,667 10,001 2020. The following table sets forth the weighted average outstanding of potentially dilutive instruments for the years ended December 31, 2020 2019: Year Ended December 31, 2020 2019 Stock options 93,747 143,094 Restricted stock 58,220 99,843 Warrants 314,158 7,594 Weighted average 466,125 250,531 |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 12 – Commitments and Contingencies Operating Leases On January 1, 2019, 842, January 1, 2019 842, 840. January 1, 2019, $2.4 $2.4 one December 31, 2019, $845,000 $98,000 January 1, 2019. Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not not The Company has elected the short-term lease recognition exemption for all applicable classes of underlying assets. Short-term disclosures include only those leases with a term greater than one 12 12 not not The Company elected the expedient to account for lease and non-lease components as a single component for our entire population of operating lease assets. As of December 31, 2020, June 2026. Twelve Months Ending December 31, Operating Leases Finance Leases 2021 $ 964 $ 98 2022 774 41 2023 641 14 2024 473 10 2025 354 - Thereafter 179 - Total future lease commitments 3,385 163 Impact of discounting (346 ) (43 ) Discounted value of lease obligations $ 3,039 $ 120 The following table summarizes the components of our gross operating lease costs incurred during the years ended December 31, 2020 2019 Year Ended Year Ended December 31, 2020 December 31, 2019 Operating lease expense: Current lease cost $ 55 $ 954 Long-term lease cost 1,107 411 Total operating lease cost $ 1,162 $ 1,365 Finance lease expense: Amortization of right-of-use assets $ 189 $ 219 Interest on lease liabilities 19 28 Total lease cost $ 208 $ 247 Our weighted-average lease term and discount rate used during the years ended December 31, 2020 2019 Year Ended December 31, 2020 Year Ended December 31, 2019 Operating Weighted-average lease term (years) 4.08 4.60 Weighted-average discount rate 6.08 % 6.08 % Finance Weighted-average lease term (years) 2.09 2.16 Weighted-average discount rate 5.94 % 6.10 % Self-Insurance In June 2015, first $50,000 $1.8 $150,000 $68,000 December 31, 2020 December 31, 2019, December 31, 2020. January 1, 2021, no Effective April 1, 2015, March 31, 2018. $1.8 December 31, 2020, not December 31, 2017, December 31, 2018, $1.8 $1.8 $1.6 $189,000 December 31, 2020, April 1, 2018, no |
Note 13 - Segment Reporting
Note 13 - Segment Reporting | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 13 In 2019 The following is a description of the segments: Production Services: Completion and Other Services: Unallocated includes general overhead expenses and assets associated with managing all reportable operating segments which have not The following tables set forth certain financial information with respect to Enservco 's reportable segments (in thousands): Production Services Completion and Other Services Unallocated Total Year Ended December 31, 2020: Revenues $ 7,714 $ 7,969 $ - $ 15,683 Cost of Revenue 8,410 8,801 - 17,211 Segment Loss $ (696 ) $ (832 ) $ - $ (1,528 ) Depreciatio n and Amortization $ 2,378 $ 2,512 $ 392 $ 5,282 Capital Exp enditures $ 176 $ 185 $ - $ 361 Identifiable assets (1) $ 12,353 $ 13,050 $ 939 $ 26,342 Year Ended December 31, 2019: Revenues $ 14,704 $ 28,322 $ - $ 43,026 Cost of Revenue 13,575 21,032 - 34,607 Segment Profit $ 1,129 $ 7,290 $ - $ 8,419 Depreciatio n and Amortization $ 2,648 $ 2,922 $ 122 $ 5,692 Capital Exp enditures $ 399 $ 419 $ 373 $ 1,191 Identifiable assets (1) $ 18,233 $ 19,121 $ 1,420 $ 38,774 ( 1 Identifiable assets is calculated by summing the balances of accounts receivable, net; inventories; property and equipment, net; and other assets. The following table reconcile s the segment profits reported above to the loss from operations reported in the consolidated statements of operations (in thousands): December 31, December 31, 2020 2019 Segment (loss) profit $ (1,528 ) $ 8,419 Sales, general and administrative expenses (5,002 ) (6,153 ) Patent litigation defense costs - (10 ) Severance and transition costs (145 ) (83 ) (Loss) gain from disposal of equipment (47 ) 73 Impairment loss (733 ) (127 ) Depreciation and amortization (5,282 ) (5,692 ) Loss from Operations $ (12,737 ) $ (3,573 ) Geographic Areas: The Company only does business in the United States, in what it believes are three three December 31, 2020 2019 For the Year Ended December 31, 2020 2019 BY GEOGRAPHY: Production Services: Rocky Mountain Region (1) $ 2,689 $ 6,515 Central USA Region (2) 4,552 7,449 Eastern USA Region (3) 473 740 Total Production Services 7,714 14,704 Completion and Other Services: Rocky Mountain Region (1) 6,601 21,535 Central USA Region (2) 108 3,223 Eastern USA Region (3) 1,260 3,564 Total Completion and Other Services 7,969 28,322 Total Revenues $ 15,683 $ 43,026 Notes to tables: ( 1 Includes the D-J Basin/Niobrara field (northeastern Colorado and southeastern Wyoming), the San Juan Basin (southeastern Colorado and northeastern New Mexico), the Powder River and Green River Basins (northeastern and southwestern Wyoming), the Bakken area (western North Dakota and eastern Montana). ( 2 Includes the Scoop/Stack Shale in Oklahoma and the Eagle Ford Shale - in Texas. ( 3 Consists of the southern region of the Marcellus Shale formation (southwestern Pennsylvania and northern West Virginia) and the Utica Shale formation (eastern Ohio). |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 14 Subsequent to December 31, 2020, $9.0 $3.0 $1.3 one October 15, 2022. 2 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three ess to be cash equivalents. The Company continually monitors its positions with, and the credit quality of, the financial institutions with which it invests. Enservco maintains its excess cash in various financial institutions, where deposits may |
Accounts Receivable [Policy Text Block] | Accounts Receivable Accounts receivable are stated at the amounts billed to customers, net of an allowance fo r uncollectible accounts. The Company provides an allowance for uncollectible accounts based on a review of outstanding receivables, historical collection information and existing economic conditions. The allowance for uncollectible amounts is continually reviewed and adjusted to maintain the allowance at a level considered adequate to cover future losses. The allowance is management's best estimate of uncollectible amounts and is determined based on historical collection experience related to accounts receivable coupled with a review of the current s December 31, 2020 and 2019, $322,000 $246,000, December 31, 2020 2019, $140,000 $160,000, spectively, to bad debt expense. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations As of December 31, 2020, one 10% 26%. one 14% December 31, 2020. December 31, 2019, two 10% 16% 11% one 11% December 31, 2019. |
Inventory, Policy [Policy Text Block] | Inventories Inventory consists primarily of propane, diesel fuel and chemicals that are used in the servicing of oil wells and is carried at the lower of cost or net realizable value in accordance with the first first December 31, 2020 2019, $18,000 $0, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment consist of ( 1 2 3 sed for the disposal of water; and ( 4 5 30 Any difference between net book value of the property and equipment and the proceeds of an assets ' sale or settlement of an insurance claim is recorded as a gain or loss in the Company's earnings. |
Lessee, Leases [Policy Text Block] | Leases The Company assesses whether an arrangement is a lease at inception. Leases with an initial term of 12 not not not The Company conducts a m ajor part of its operations from leased facilities not The Company amortizes leasehold improvements over the shorter of the life of the lease or the life of the improvements. The Company has leased trucks and equipment in the normal course of business, which may le; there were no |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not first 2020, 19 fourth 2020, 19 70% fourth 2020 2019. first fourth 2020. The Company determined that there was no twelve December 31, 2020. fourth 2020 December 31, 2019, $127,000 second 2020. Assets Held for Sale The Company classifies long-lived assets to be sold as held for sale in the period in which all of the following criteria are met: ( 1 2 3 4 one one 5 6 We initially measure a long-lived asset or disposal group that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not not December 31, 2020 2019, $733,000 $0, Upon determining that a long-lived asset or disposal group meets the criteria to be classified as held for sale, the Company ceases depreciation and reports long-lived assets and/or the assets and liabilities of the disposal group, if material, in the line items assets held for sale in our consolidated balance sheets. Refer to Note 2. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangible Assets Goodwill represents the excess purchase price over the fair value of identifiable assets received attributable to business acquisitions and combinations. Goodwill and other intangible assets are measured for impairment at least annually and/or whenever events and circumstances arise that indicate impairment may The Company completed its annual goodwill impairment test as of December 31, 2020. As a result of performing the annual test of impairment, the Company recognized no December 31, 2020. |
Revenue [Policy Text Block] | Revenue Recognition The Company evaluates revenue when we can identify the contract with the customer, the performance obligations in the contract, the transaction price, and we are certain that the performance obligations have been met. Revenue is recognized when the service has been provided to the customer. The vast majority of the Company's services and product offerings are short-term in nature. The time between invoicing and when payment is due under these arrangements is generally 30 60 not The Company's agreements with its customers are often referred to as “price sheets” and sometimes provide pricing for multiple services. However, these agreements generally do not not Revenue is recognized for certain projects that take more than one Disaggregation of Revenue See Note 13 |
Earnings Per Share, Policy [Policy Text Block] | Earning s (Loss) Per Share Earnings per Common Share - Basic is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Earnings per Common Share - Diluted earnings is calculated by dividing net income (loss) by the diluted weigh ted average number of common shares. The diluted weighted average number of common shares is computed using the treasury stock method for common stock that may As of December 31, 2020 2019, were outstanding stock options, warrants and unvested restricted stock awards to acquire an aggregate of 1,079,628 and 307,111 December 31, 2020 and 2019, these outstanding stock options, unvested restricted stock awards and warrants had no December 31, 2020 2019, not not December 31, 2020 2019. |
Loan Fees and Other Deferred Costs [Policy Text Block] | Offering Costs The Company complies with the requirements of ASC 340 10 S99 1 5A December 31, 2020 December 31, 2019, $296,000 $0, |
Derivatives, Policy [Policy Text Block] | Der ivative Instruments From time to time, the Company has interest rate swap agreements in place to hedge against changes in interest rates. The fair value of the Company's derivative instruments are reflected as assets or liabilities on the balance sheet. The accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the resulting designation. Transactions related to the Company's derivative instruments accounted for as hedges are classified in the same category as the item hedged in the consolidated statement of cash flows. The Company did not December 31, 2020 2019, On February 23, 2018, 2017 $10.0 2.52% second 2020, $0 $23,000 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company recognizes deferred tax liabilities and assets (Note 9 based on the differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements that will result in taxable or deductible amounts in future years. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities will be recognized in income in the period that includes the enactment date. A deferred tax asset or liability that is not not The Company accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if, in the Company's opinion, it is more likely than not taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized in the financial statements from such a position based on the largest benefit that has a greater than 50% may not Interest and penalties associated with tax positions are recorded in the peri od assessed as expense. The Company files income tax returns in the United States and in the states in which it conducts its business operations. The Company's United States federal income tax filings for tax years 2017 2020 2016 2020. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value The Company follows authoritative guidance that applies to all financial assets and liabilities required to be measured and reported on a fair value basis. The Company also applies the guidance to non-financial assets and liabilities measured at fair value on a nonrecurring basis, including non-competition agreements and goodwill. The guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions of what market participants would use in pricing the asset or liability based on the best information available in the circumstances. Beginning in 2017, not December 31, 2020 or 2019. The hierarchy is broken down into three Level 1: Quoted prices are available in active markets for identical assets or liabilities; Level 2: Quoted prices in active markets for similar assets and liabilities that are observable for the asset or liability; or Level 3: Unobservable pricing inputs that are generally less observable from objective sources, such as discounted cash flow models or valuations. |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation Stock-based compensation cost is measured at the date of grant, based on the calculated fair value of the award as described below, and is recognized over the requisite service period, which is generally the vesting period of the equity grant. The Company uses the Black-Scholes pricing model as a method for determining the estimated grant date fair value for all stock options awarded to employees, independent contractors, officers, and directors. The expected term of the options is based upon evaluation of historical and expected exercise behavior. The risk-free interest rate is based upon U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life of the grant. Volatility is determined upon historical volatility of our stock and adjusted if future volatility is expected to vary from historical experience. The dividend yield is assumed to be none not The Company uses a Lattice model to determine the fair value of certain warrants. The expected term used was the remaining contractual term. Expected volatility is based upon historical volatility over a term consistent with the remaining term. The risk-free interest rate is derived from the yield on zero zero The Company used the market-value of Company stock to determine the fair value of the performance-based restricted stock awarded in 2019 2018. The Company used a Lattice model to determine the fair value of market-based restricted stock awarded in 2019 2018. |
Use of Estimates, Policy [Policy Text Block] | Management Estimates The preparation of the Company 's consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the realization of accounts receivable, evaluation of impairment of long-lived assets, stock-based compensation expense, income tax provision, the valuation of warrant liability and the Company's interest rate swaps, and the valuation of deferred taxes. Actual results could differ from those estimates. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain prior-period amounts have been reclassified for comparative purposes to conform to the current presentation. These reclassifications have no |
Business Combinations Policy [Policy Text Block] | Business Combinations We recognize and measure the assets acquired and liabilities assumed in a business combination based on their estimated fair values at the acquisition date, with any remaining difference recorded as goodwill or gain from a bargain purchase. For material acquisitions, management typically engages an independent valuation specialist to assist with the determination of fair value of the assets acquired, liabilities assumed, noncontrolling interest, if any, and goodwill, based on recognized business valuation methodologies. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition, and not one may 4 |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Pronouncements Recently Adopted In February 2016, 2016 02, December 15, 2018, August 2018, 2018 11, 842, not 842, January 1, 2019 2018 11. one $2.4 not not not not not 12 In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 2017 04 . December 15, 2019. 2017 04 January 1, 2020, 2017 04. Recently Issued In June 2016, 2016 13, Financial Statements - Credit Losses (Topic 326 December 15, 2022. not 2016 13 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Current Ownership Hierarchy [Table Text Block] | Name State of Formation Ownership Business Heat Waves Hot Oil Service LLC Colorado 100% by Enservco Oil and natural gas well services, including logistics and stimulation. Adler Hot Oil Service, LLC Delaware 100% by Enservco Operations integrated into Heat Waves during 2019. Heat Waves Water Management LLC Colorado 100% by Enservco Discontinued operations in 2019. Dillco Fluid Service, Inc. Kansas 100% by Enservco Discontinued operation in 2018. HE Services LLC Nevada 100% by Heat Waves No active business operations. Owns construction equipment used by Heat Waves. |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, December 31, 2020 2019 Trucks and vehicles $ 57,224 $ 59,788 Other equipment 1,319 1,303 Buildings and improvements 3,176 3,184 Land 378 378 Total property and equipment 62,097 64,653 Accumulated depreciation (41,780 ) (38,033 ) Property and equipment, net $ 20,317 $ 26,620 |
Note 4 - Business Combinations
Note 4 - Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Consideration paid to Seller: Cash consideration, including payment to retire Adler debt $ 6,206 Subordinated note, net of discount 4,580 Indemnity holdback at fair value 873 Earnout at fair value 44 Net purchase price $ 11,703 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash $ 43 Accounts receivable, net 1,317 Prepaid expenses and other current assets 239 Property, plant, and equipment 9,664 Intangible assets 1,045 Accounts payable and accrued liabilities (850 ) Total identifiable net assets 11,458 Goodwill 245 Total identifiable assets acquired $ 11,703 |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2020 2019 Customer relationships $ 626 $ 626 Patents and trademarks 441 441 Total intangible assets 1,067 1,067 Accumulated amortization (450 ) (239 ) Net carrying value $ 617 $ 828 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2021 2022 2023 2024 2025 Customer relationships $ 125 $ 125 $ 104 $ - $ - Intellectual property 93 93 77 - - Total intangible asset amortization expense $ 218 $ 218 $ 181 $ - $ - |
Note 6 - Discontinued Operati_2
Note 6 - Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | December 31, December 31, 2020 2019 Carrying amount of major classes of assets included as part of discontinued operations: Accounts receivable, net $ - $ 175 Property and equipment, net 321 1,373 Prepaid expenses and other current assets - 12 Other assets 32 57 Total major classes of assets of discontinued operations $ 353 $ 1,617 Carrying amounts of major classes of liabilities included as part of discontinued operations: Accounts payable and accrued liabilities 6 47 Other liabilities 34 59 Total liabilities included as part of discontinued operations $ 40 $ 106 December 31, December 31, 2020 2019 Revenue $ - $ 3,303 Cost of sales (11 ) (4,446 ) Sales, general, and administrative expenses - (23 ) Depreciation and amortization (26 ) (1,177 ) Other income and expense items that are not major (70 ) 11 Total loss on discontinued operations that is presented in the Statements of Operations $ (107 ) $ (2,332 ) |
Note 7 - Debt (Tables)
Note 7 - Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | December 31, December 31, 2020 2019 Senior Revolving Credit Facility with related party. All future interest through October 15, 2021 accrued to loan pursuant to the Fifth Amendment. Interest at 8.25%, 5.25% is paid monthly while 3% is accrued and paid upon maturity. Matures October 15, 2022. See Note 2 - Summary of Significant Accounting Policies and Recent Developments for discussion of principal payment subsequent to December 31, 2020. $ 19,078 $ 33,994 Paycheck Protection Loan. Interest is at 1% with payments deferred until October 10, 2020. Matures April 10, 2022. 1,940 - Subordinated Promissory Notes with related party, Interest at 10% and is paid quarterly. Matures June 28, 2022. See Note 2 - Summary of Significant Accounting Policies and Recent Developments for discussion of conversion of outstanding debt balance subsequent to December 31, 2020. 1,250 2,500 Real Estate Loan for a facility in North Dakota, interest at 5.75% and monthly principal and interest payment of $5,255 until October 3, 2028. Collateralized by land and property purchased with the loan. 167 218 Vehicle loans for three pickups, interest at 8.59%, monthly principal and interest payments of $3,966. Matures in August 2021. 31 74 Note payable to the seller of Heat Waves. The note was garnished by the Internal Revenue Service (“ IRS”) in 2009 and is due on demand; paid in annual installments of $36,000 per agreement with the IRS. 14 53 Total 22,480 36,839 Less debt discount (70 ) (119 ) Less current portion (1,693 ) (36,522 ) Long-term debt, net of debt discount and current portion $ 20,717 $ 198 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Years Ended December 31, 2021 $ 1,693 2022 20,733 2023 54 Total $ 22,480 |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurement Using Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Measurement December 31, 2020 Derivative Instrument Interest rate swap liability $ - $ - $ - $ - December 31, 2019 Derivative Instrument Interest rate swap liability $ - $ 23 $ - $ 23 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Year Ended December 31, 2020 2019 Fair value of Level 3 instrument at the beginning of the period - 931 Less: Settlement of Adler liability - (931 ) Fair value of Level 3 instrument at the end of period $ - $ - |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | December 31, 2020 2019 Current Federal $ - $ - State 12 32 Total Current 12 32 Deferred Federal - - State - - Total Deferred - - Total Income Tax Benefit $ 12 $ 32 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | December 31, 2020 2019 Computed income taxes at 21% for 2020 and 2019, respectively $ (502 ) $ (1,118 ) (Decrease) increase in income taxes resulting from: State and local income taxes, net of federal impact (72 ) (154 ) Change in valuation allowance 571 1,298 Stock-based compensation 1 14 Other 14 (8 ) Benefit for income taxes $ 12 $ 32 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2020 2019 Deferred tax assets Reserves and accruals $ 183 $ 1,040 Amortization 53 (12 ) Capital losses and other 13 11 Non-qualified stock option expense 194 182 Loss Carryforwards 7,066 6,897 Total deferred tax assets 7,509 8,118 Valuation allowance (4,757 ) (4,951 ) Net deferred tax assets 2,752 3,167 Deferred tax liabilities Depreciation (2,752 ) (3,167 ) Total deferred tax liabilities (2,752 ) (3,167 ) Net deferred tax assets (liabilities) $ - $ - |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Weighted Average Average Remaining Exercise Contractual Warrants Shares Price Life (Years) Outstanding at January 1, 2019 2,000 $ 10.50 2.5 Issued 41,667 3.00 4.9 Outstan ding at December 31, 2019 43,667 $ 3.34 4.7 Issued 1,000,000 3.75 4.7 Outstanding at December 31, 2020 1,043,667 $ 3.73 4.7 Exercisable at December 31, 2020 43,667 $ 3.34 3.7 |
Note 11 - Stock Options and R_2
Note 11 - Stock Options and Restricted Stock (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2019 169,645 $ 12.75 2.54 $ 93 Forfeited or Expired (39,956 ) 26.70 - - Outstanding at December 31, 2019 129,689 $ 8.45 1.95 $ - Forfeited or Expired (118,120 ) 8.54 - - Outstanding at December 31, 2020 11,569 $ 5.87 0.53 $ - Vested at December 31, 2020 11,569 $ 5.87 0.53 $ - Exercisable at December 31, 2020 11,569 $ 5.87 0.53 $ - |
Schedule of Nonvested Share Activity [Table Text Block] | Number of Shares Weighted Average Grant- Date Fair Value Non-vested at January 1, 2019 39,589 $ 3.00 Vested (32,400 ) 2.85 Forfeited (3,656 ) 3.30 Non-vested at December 31, 2019 3,533 $ 3.30 Vested (1,755 ) 3.36 Forfeited (1,778 ) 19.29 Non-vested at December 31, 2020 - $ - |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Number of Shares Weighted Average Grant- Date Fair Value Restricted shares at January 1, 2019 55,778 14.70 Granted 98,200 4.05 Vested (2,888 ) 19.20 Forfeited (17,334 ) 16.80 Restricted shares at December 31, 2019 133,756 8.25 Granted 10,001 2.49 Vested (69,777 ) 6.56 Forfeited (49,587 ) 8.05 Restricted shares at December 31, 2020 24,393 7.32 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2020 2019 Stock options 93,747 143,094 Restricted stock 58,220 99,843 Warrants 314,158 7,594 Weighted average 466,125 250,531 |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Twelve Months Ending December 31, Operating Leases Finance Leases 2021 $ 964 $ 98 2022 774 41 2023 641 14 2024 473 10 2025 354 - Thereafter 179 - Total future lease commitments 3,385 163 Impact of discounting (346 ) (43 ) Discounted value of lease obligations $ 3,039 $ 120 |
Lease, Cost [Table Text Block] | Year Ended Year Ended December 31, 2020 December 31, 2019 Operating lease expense: Current lease cost $ 55 $ 954 Long-term lease cost 1,107 411 Total operating lease cost $ 1,162 $ 1,365 Finance lease expense: Amortization of right-of-use assets $ 189 $ 219 Interest on lease liabilities 19 28 Total lease cost $ 208 $ 247 Year Ended December 31, 2020 Year Ended December 31, 2019 Operating Weighted-average lease term (years) 4.08 4.60 Weighted-average discount rate 6.08 % 6.08 % Finance Weighted-average lease term (years) 2.09 2.16 Weighted-average discount rate 5.94 % 6.10 % |
Note 13 - Segment Reporting (Ta
Note 13 - Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Production Services Completion and Other Services Unallocated Total Year Ended December 31, 2020: Revenues $ 7,714 $ 7,969 $ - $ 15,683 Cost of Revenue 8,410 8,801 - 17,211 Segment Loss $ (696 ) $ (832 ) $ - $ (1,528 ) Depreciatio n and Amortization $ 2,378 $ 2,512 $ 392 $ 5,282 Capital Exp enditures $ 176 $ 185 $ - $ 361 Identifiable assets (1) $ 12,353 $ 13,050 $ 939 $ 26,342 Year Ended December 31, 2019: Revenues $ 14,704 $ 28,322 $ - $ 43,026 Cost of Revenue 13,575 21,032 - 34,607 Segment Profit $ 1,129 $ 7,290 $ - $ 8,419 Depreciatio n and Amortization $ 2,648 $ 2,922 $ 122 $ 5,692 Capital Exp enditures $ 399 $ 419 $ 373 $ 1,191 Identifiable assets (1) $ 18,233 $ 19,121 $ 1,420 $ 38,774 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | December 31, December 31, 2020 2019 Segment (loss) profit $ (1,528 ) $ 8,419 Sales, general and administrative expenses (5,002 ) (6,153 ) Patent litigation defense costs - (10 ) Severance and transition costs (145 ) (83 ) (Loss) gain from disposal of equipment (47 ) 73 Impairment loss (733 ) (127 ) Depreciation and amortization (5,282 ) (5,692 ) Loss from Operations $ (12,737 ) $ (3,573 ) |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | For the Year Ended December 31, 2020 2019 BY GEOGRAPHY: Production Services: Rocky Mountain Region (1) $ 2,689 $ 6,515 Central USA Region (2) 4,552 7,449 Eastern USA Region (3) 473 740 Total Production Services 7,714 14,704 Completion and Other Services: Rocky Mountain Region (1) 6,601 21,535 Central USA Region (2) 108 3,223 Eastern USA Region (3) 1,260 3,564 Total Completion and Other Services 7,969 28,322 Total Revenues $ 15,683 $ 43,026 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation - Current Ownership Hierarchy (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Heat Waves Hot Oil Service LLC at Colorado [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
Adler Hot Oil Service, LLC [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
Heat Waves Water Management LLC at Colorado [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
Dillco Fluid Service, Inc. at Kansas [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
HE Services LLC at Nevada [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies and Recent Developments (Details Textual) | Feb. 10, 2021USD ($)$ / sharesshares | Feb. 03, 2021USD ($)$ / sharesshares | Sep. 29, 2020USD ($)shares | Sep. 23, 2020USD ($)$ / sharesshares | Aug. 13, 2020USD ($)shares | Aug. 10, 2017USD ($) | Dec. 31, 2020USD ($)$ / sharesshares | Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Jan. 01, 2019USD ($) | Dec. 31, 2018$ / shares | Feb. 23, 2018USD ($) |
Debt Conversion, Accrued Interest, Amount | $ 326,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 3.73 | $ 3.73 | $ 3.34 | $ 10.50 | |||||||||
Net Income (Loss) Attributable to Parent, Total | $ (2,509,000) | $ (7,652,000) | |||||||||||
Assets, Current, Total | $ 4,880,000 | 4,880,000 | 8,731,000 | ||||||||||
Liabilities, Current, Total | 4,574,000 | 4,574,000 | 42,119,000 | ||||||||||
Working Capital Deficit | (306,000) | (306,000) | 33,400,000 | ||||||||||
Accounts Receivable, Allowance for Credit Loss, Current | $ 322,000 | 322,000 | 246,000 | ||||||||||
Accounts Receivable, Credit Loss Expense (Reversal) | 140,000 | 160,000 | |||||||||||
Inventory Write-down | 18,000 | 0 | |||||||||||
Impairment of Long-Lived Assets Held-for-use | 0 | ||||||||||||
Impairment of Long-Lived Assets to be Disposed of | 733,000 | $ 0 | |||||||||||
Goodwill and Intangible Asset Impairment, Total | $ 0 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Outstanding, Number (in shares) | shares | 1,079,628 | 1,079,628 | 307,111 | ||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ 296,000 | $ 0 | |||||||||||
Payments of Dividends, Total | 0 | ||||||||||||
Operating Lease, Liability, Total | $ 3,039,000 | 3,039,000 | $ 2,400,000 | ||||||||||
Operating Lease, Right-of-Use Asset | $ 2,918,000 | $ 2,918,000 | 3,793,000 | 2,400,000 | |||||||||
Accounting Standards Update 2016-02 [Member] | |||||||||||||
Operating Lease, Liability, Total | 2,400,000 | ||||||||||||
Operating Lease, Right-of-Use Asset | $ 2,400,000 | ||||||||||||
Certain Warrants [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||||||||||
Open Tax Year | 2017 2018 2019 2020 | ||||||||||||
State and Local Jurisdiction [Member] | |||||||||||||
Open Tax Year | 2016 2017 2018 2019 2020 | ||||||||||||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | |||||||||||||
Derivative, Notional Amount | $ 0 | $ 10,000,000 | |||||||||||
Derivative, Fixed Interest Rate | 2.52% | ||||||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | $ 23,000 | ||||||||||||
Disposal Wells [Member] | |||||||||||||
Impairment of Long-Lived Assets Held-for-use | $ 127,000 | ||||||||||||
COVID 19 [Member] | |||||||||||||
Increase (Decrease) in Revenue, Percentage | (70.00%) | ||||||||||||
Minimum [Member] | |||||||||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||||||||||||
Maximum [Member] | |||||||||||||
Property, Plant and Equipment, Useful Life (Year) | 30 years | ||||||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||||||||||
Number of Major Customers | 1 | 2 | |||||||||||
Concentration Risk, Percentage | 26.00% | ||||||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member] | |||||||||||||
Concentration Risk, Percentage | 16.00% | ||||||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member] | |||||||||||||
Concentration Risk, Percentage | 11.00% | ||||||||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |||||||||||||
Number of Major Customers | 1 | 1 | |||||||||||
Concentration Risk, Percentage | 14.00% | 11.00% | |||||||||||
At-the-market Offering [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 1,694,219 | ||||||||||||
Stock Issued During Period, Value, New Issues | $ 3,500,000 | $ 3,301,000 | |||||||||||
Subsequent Event [Member] | Second Public Offering [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 4,199,998 | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 2,300,000 | ||||||||||||
Proceeds from Issuance of Common Stock | $ 9,000,000 | ||||||||||||
Warrant Issued in Connection with Amended 2017 Credit Agreement [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1,000,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 3.75 | ||||||||||||
Warrant Issued in connection with Conversion of Subordinated Debt [Member] | Subsequent Event [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 150,418 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.507 | ||||||||||||
Conversion from 2017 Credit Agreement Loan Concession to Common Stock [Member] | |||||||||||||
Debt Conversion, Forgiven Debt, Amount | $ 16,000,000 | ||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 533,334 | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1,000,000 | ||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,100,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 3.75 | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 2.0775 | ||||||||||||
Conversion from Subordinated Promissory Note to Common Stock [Member] | |||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 403,602 | ||||||||||||
Debt Conversion, Original Debt, Percentage of Total Debt | 50.00% | ||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,250,000 | ||||||||||||
Debt Conversion, Accrued Interest, Amount | $ 265,000 | ||||||||||||
Conversion from Subordinated Promissory Note to Common Stock [Member] | Subsequent Event [Member] | |||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 601,674 | ||||||||||||
Debt Conversion, Original Debt, Percentage of Total Debt | 50.00% | ||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,250,000 | ||||||||||||
Debt Conversion, Accrued Interest, Amount | $ 62,000 | ||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | |||||||||||||
Debt Instrument, Term (Year) | 3 years | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | $ 37,000,000 | |||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | |||||||||||||
Repayments of Lines of Credit | $ 3,000,000 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 4.9 | $ 5.3 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property and equipment, gross | $ 62,097 | $ 64,653 |
Accumulated depreciation | (41,780) | (38,033) |
Property and equipment, net | 20,317 | 26,620 |
Vehicles [Member] | ||
Property and equipment, gross | 57,224 | 59,788 |
Property, Plant and Equipment, Other Types [Member] | ||
Property and equipment, gross | 1,319 | 1,303 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | 3,176 | 3,184 |
Land [Member] | ||
Property and equipment, gross | $ 378 | $ 378 |
Note 4 - Business Combination_2
Note 4 - Business Combinations (Details Textual) - USD ($) | Apr. 04, 2019 | Feb. 28, 2019 | Nov. 30, 2018 | Oct. 26, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 23, 2020 | Aug. 10, 2017 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (1,252,000) | |||||||
Goodwill, Ending Balance | $ 546,000 | $ 546,000 | ||||||
Revolving Credit Facility [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | 8.25% | ||||||
Subordinated Note Issued with Acquisition [Member] | ||||||||
Debt Instrument, Face Amount | $ 4,500,000 | $ 4,800,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||
Debt Instrument, Periodic Payment, Total | $ 200,000 | $ 800,000 | ||||||
Second Amendment to LSA [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 37,000,000 | |||||||
Proceeds from Long-term Lines of Credit | 6,200,000 | |||||||
Maximum Capital Expenditures | 3,000,000 | |||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | |||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | $ 37,000,000 | ||||||
Maximum Capital Expenditures | 2,500,000 | |||||||
Adler Hot Oil Service, LLC [Member] | ||||||||
Business Combination, Consideration Transferred, Total | 12,500,000 | |||||||
Business Combination, Consideration, Working Capital Adjustments | 500,000 | |||||||
Payments to Acquire Businesses, Gross | 3,700,000 | |||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 4,800,000 | |||||||
Payments to Retire Acquiree's Debt | 2,500,000 | |||||||
Goodwill, Ending Balance | 245,000 | |||||||
Adler Hot Oil Service, LLC [Member] | Seller Subordinated Note [Member] | ||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities | 300,000 | |||||||
Adler Hot Oil Service, LLC [Member] | Earn-out Payment Subject to Satisfaction of EBITDA-related Performance [Member] | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 1,000,000 | |||||||
Adler Hot Oil Service, LLC [Member] | Cash Held by Acquier, Subject Offset by Indemnification Obligations [Member] | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 1,000,000 | |||||||
Business Combination, Contingent Consideration, Period (Month) | 1 year 180 days | |||||||
Adler Hot Oil Service, LLC [Member] | Indemnity Holdback Payment [Member] | ||||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 908,000 | |||||||
Adler Hot Oil Service, LLC [Member] | Earn-out Payment [Member] | ||||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 44,000 |
Note 4 - Business Combination_3
Note 4 - Business Combinations - Consideration Transferred and Assets Acquired and Liabilities Assumed (Details) - USD ($) | Oct. 26, 2018 | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill, Ending Balance | $ 546,000 | $ 546,000 | |
Adler Hot Oil Service, LLC [Member] | |||
Cash consideration, including payment to retire Adler debt | $ 6,206,000 | ||
Subordinated note, net of discount | 4,580,000 | ||
Net purchase price | 11,703,000 | ||
Cash | 43,000 | ||
Accounts receivable, net | 1,317,000 | ||
Prepaid expenses and other current assets | 239,000 | ||
Property, plant, and equipment | 9,664,000 | ||
Intangible assets | 1,045,000 | ||
Accounts payable and accrued liabilities | (850,000) | ||
Total identifiable net assets | 11,458,000 | ||
Goodwill, Ending Balance | 245,000 | ||
Total identifiable assets acquired | 11,703,000 | ||
Adler Hot Oil Service, LLC [Member] | Cash Held by Acquier, Subject Offset by Indemnification Obligations [Member] | |||
Contingent consideration, net of discount | 873,000 | ||
Adler Hot Oil Service, LLC [Member] | Earn-out Payment Subject to Satisfaction of EBITDA-related Performance [Member] | |||
Contingent consideration, net of discount | $ 44,000 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | |
Amortization of Intangible Assets, Total | $ 211,000 | $ 205,000 |
Note 5 - Intangible Assets - Co
Note 5 - Intangible Assets - Components of Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Intangible assets, gross | $ 1,067 | $ 1,067 |
Accumulated amortization | (450) | (239) |
Net carrying value | 617 | 828 |
Customer Relationships [Member] | ||
Intangible assets, gross | 626 | 626 |
Intellectual Property [Member] | ||
Intangible assets, gross | $ 441 | $ 441 |
Note 5 - Intangible Assets - Ex
Note 5 - Intangible Assets - Expected Future Amortization Expense (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Expected amortization expense, 2021 | $ 218 |
Expected amortization expense, 2022 | 218 |
Expected amortization expense, 2023 | 181 |
Expected amortization expense, 2024 | |
Expected amortization expense, 2025 | |
Customer Relationships [Member] | |
Expected amortization expense, 2021 | 125 |
Expected amortization expense, 2022 | 125 |
Expected amortization expense, 2023 | 104 |
Expected amortization expense, 2024 | |
Expected amortization expense, 2025 | |
Intellectual Property [Member] | |
Expected amortization expense, 2021 | 93 |
Expected amortization expense, 2022 | 93 |
Expected amortization expense, 2023 | 77 |
Expected amortization expense, 2024 | |
Expected amortization expense, 2025 |
Note 6 - Discontinued Operati_3
Note 6 - Discontinued Operations (Details Textual) - Dillco Fluid Service, Inc [Member] - Discontinued Operations, Disposed of by Sale [Member] - USD ($) | 1 Months Ended | 12 Months Ended |
Dec. 31, 2018 | Dec. 31, 2019 | |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax, Total | $ 129,000 | |
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax, Total | $ 130,000 |
Note 6 - Discontinued Operati_4
Note 6 - Discontinued Operations - Information by Major Classes of Line Items Disclosed as Discontinued Operations in the Consolidated Statements (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Total loss on discontinued operations that is presented in the Statements of Operations | $ (107) | $ (2,332) |
Dillco Fluid Service, Inc [Member] | ||
Accounts receivable, net | 175 | |
Property and equipment, net | 321 | 1,373 |
Prepaid expenses and other current assets | 12 | |
Other assets | 32 | 57 |
Other assets | 32 | 57 |
Total major classes of assets of discontinued operations | 353 | 1,617 |
Accounts payable and accrued liabilities | 6 | 47 |
Other liabilities | 34 | 59 |
Total liabilities included as part of discontinued operations | 40 | 106 |
Revenue | 3,303 | |
Cost of sales | (11) | (4,446) |
Sales, general, and administrative expenses | (23) | |
Depreciation and amortization | (26) | (1,177) |
Other income and expense items that are not major | (70) | 11 |
Total loss on discontinued operations that is presented in the Statements of Operations | $ (107) | $ (2,332) |
Note 7 - Debt (Details Textual)
Note 7 - Debt (Details Textual) - USD ($) | Sep. 23, 2020 | Apr. 10, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Aug. 10, 2017 |
Long-term Debt, Total | $ 22,480,000 | $ 36,839,000 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.73 | $ 3.34 | $ 10.50 | |||
Gains (Losses) on Restructuring of Debt | $ 11,916,000 | |||||
Effect on Basic and Diluted Earnings Per Share, Convertible Securities (in dollars per share) | $ 2.85 | |||||
Proceeds from Paycheck Protection Program Under CARES Act | $ 1,939,900 | |||||
Interest Expense [Member] | ||||||
Amortization of Debt Issuance Costs | $ 82,000 | 140,000 | ||||
Other Assets [Member] | ||||||
Unamortized Debt Issuance Expense | $ 0 | $ 82,000 | ||||
Warrant Issued in Connection with Amended 2017 Credit Agreement [Member] | ||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1,000,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.75 | |||||
Warrants and Rights Outstanding | $ 1,400,000 | |||||
Conversion from 2017 Credit Agreement Loan Concession to Common Stock [Member] | ||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 533,334 | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1,000,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.75 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 2.0775 | |||||
Debt Conversion, Converted Instrument, Amount | $ 1,100,000 | |||||
Debt Conversion, Converted Instrument, Warrants or Options Issued (in shares) | 1 | |||||
Revolving Credit Facility [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | 8.25% | ||||
Debt Instrument, Interest Rate, Calculated Monthly and Paid in Arrears | 5.25% | 5.25% | ||||
Debt Instrument, Interest Rate, Accrued on Principal Balance | 3.00% | 3.00% | ||||
Long-term Debt, Total | $ 19,078,000 | $ 33,994,000 | ||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | |||||
Debt Instrument, Interest Rate, Calculated Monthly and Paid in Arrears | 5.25% | |||||
Debt Instrument, Interest Rate, Accrued on Principal Balance | 3.00% | |||||
Debt Instrument, Covenant, Minimum Liquidity | $ 1,500,000 | |||||
Debt Instrument, Covenant, Percentage of Projected Gross Revenue Achieved | 70.00% | |||||
Debt Instrument, Covenant, Maximum Capital Expenditures | $ 1,200,000 | |||||
Gains (Losses) on Restructuring of Debt | 11,900,000 | |||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Equipment Term Loan [Member] | ||||||
Debt Instrument, Face Amount | 17,000,000 | |||||
Long-term Debt, Total | $ 17,700,000 | |||||
Debt, Weighted Average Interest Rate | 8.25% | |||||
Long-term Debt, Gross | $ 19,100,000 | |||||
Interest Payable | 1,400,000 | |||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity, Percent of Eligible Receivables | 85.00% | |||||
Line of Credit Facility, Maximum Borrowing Capacity, Percentage of Trucks and Equipment | 85.00% | |||||
Line of Credit Facility, Decrease, Forgiveness | 16,000,000 | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | $ 37,000,000 | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | |||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 300,000 |
Note 7 - Debt - Summary of Long
Note 7 - Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Long-term debt | $ 22,480 | $ 36,839 |
Less debt discount | (70) | (119) |
Less current portion | (1,693) | (36,522) |
Long-term debt, net of debt discount and current portion | 20,717 | 198 |
Unsecured Debt [Member] | ||
Long-term debt | 1,940 | |
Subordinated Debt [Member] | Subordinated Promissory Note 1 [Member] | ||
Long-term debt | 1,250 | 2,500 |
Real Estate Loan 1 [Member] | ||
Long-term debt | 167 | 218 |
Vehicle Loans for Trucks [Member] | ||
Long-term debt | 31 | 74 |
Note Payable To Seller Of Heat Waves [Member] | ||
Long-term debt | 14 | 53 |
Revolving Credit Facility [Member] | ||
Long-term debt | $ 19,078 | $ 33,994 |
Note 7 - Debt - Summary of Lo_2
Note 7 - Debt - Summary of Long-term Debt (Details) (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Unsecured Debt [Member] | ||
Interest rate | 1.00% | 1.00% |
Maturity date | Apr. 10, 2022 | Apr. 10, 2022 |
Subordinated Debt [Member] | Subordinated Promissory Note 1 [Member] | ||
Interest rate | 10.00% | 10.00% |
Maturity date | Jun. 28, 2022 | Jun. 28, 2022 |
Real Estate Loan 1 [Member] | ||
Interest rate | 5.75% | 5.75% |
Monthly principal and interest payment | $ 5,255 | $ 5,255 |
Note Payable To Seller Of Heat Waves [Member] | ||
Monthly principal and interest payment | $ 36,000 | $ 36,000 |
Revolving Credit Facility [Member] | ||
Interest rate, payable monthly | 5.25% | 5.25% |
Interest rate, accrued | 3.00% | 3.00% |
Interest rate | 8.25% | 8.25% |
Maturity date | Oct. 15, 2022 | Oct. 15, 2022 |
Note 7 - Debt - Summary of Matu
Note 7 - Debt - Summary of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 1,693 | |
2022 | 20,733 | |
2023 | 54 | |
Total | $ 22,480 | $ 36,839 |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurements (Details Textual) - Measurement Input, Risk Adjusted Interest Rate [Member] | Dec. 31, 2020 |
Indemnification Liability, Measurement Input | 9.5 |
Business Combination, Contingent Consideration, Liability, Measurement Input | 9.5 |
Note 8 - Fair Value Measureme_4
Note 8 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - Interest Rate Swap [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Derivative liabilities | $ 23 | |
Fair Value, Inputs, Level 1 [Member] | ||
Derivative liabilities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Derivative liabilities | 23 | |
Fair Value, Inputs, Level 3 [Member] | ||
Derivative liabilities |
Note 8 - Fair Value Measureme_5
Note 8 - Fair Value Measurements - Reconciliation of Warrant Liability (Details) - Warrants [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fair value of Level 3 instrument at the beginning of the period | $ 931 | |
Less: Settlement of Adler liability | (931) | |
Fair value of Level 3 instrument at the end of period |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 |
Operating Loss Carryforwards, Total | 28,200 | |
Deferred Tax Assets, Valuation Allowance, Total | 4,757 | 4,951 |
Income Tax Examination, Penalties and Interest Expense, Total | $ 0 | $ 0 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Open Tax Year | 2017 2018 2019 2020 | |
State and Local Jurisdiction [Member] | ||
Open Tax Year | 2016 2017 2018 2019 2020 |
Note 9 - Income Taxes - Compone
Note 9 - Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal | ||
State | 12 | 32 |
Total Current | 12 | 32 |
Federal | ||
State | ||
Total Deferred | ||
Total Income Tax Benefit | $ 12 | $ 32 |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation of Computed Income Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Computed income taxes at 21% for 2020 and 2019, respectively | $ (502) | $ (1,118) |
State and local income taxes, net of federal impact | (72) | (154) |
Change in valuation allowance | 571 | 1,298 |
Stock-based compensation | 1 | 14 |
Other | 14 | (8) |
Total Income Tax Benefit | $ 12 | $ 32 |
Note 9 - Income Taxes - Recon_2
Note 9 - Income Taxes - Reconciliation of Computed Income Tax (Details) (Parentheticals) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Computed income taxes, rate | 21.00% | 21.00% |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Reserves and accruals | $ 183 | $ 1,040 |
Amortization | 53 | (12) |
Capital losses and other | 13 | 11 |
Non-qualified stock option expense | 194 | 182 |
Loss Carryforwards | 7,066 | 6,897 |
Total deferred tax assets | 7,509 | 8,118 |
Valuation allowance | (4,757) | (4,951) |
Net deferred tax assets | 2,752 | 3,167 |
Depreciation | (2,752) | (3,167) |
Total deferred tax liabilities | (2,752) | (3,167) |
Net deferred tax assets (liabilities) |
Note 10 - Stockholders' Equit_2
Note 10 - Stockholders' Equity (Details Textual) - $ / shares | Sep. 23, 2020 | Nov. 11, 2019 | Jun. 21, 2017 | Dec. 21, 2016 | Jun. 30, 2016 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Class of Warrant or Right, Issued During Period (in shares) | 1,000,000 | 41,667 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.73 | $ 3.34 | $ 10.50 | |||||
Conversion from 2017 Credit Agreement Loan Concession to Common Stock [Member] | ||||||||
Class of Warrant or Right, Grants in Period, Grant Date Fair Value (in dollars per share) | $ 1.42 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.75 | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1,000,000 | |||||||
Debt Conversion, Converted Instrument, Warrants or Options Issued (in shares) | 1 | |||||||
Warrants Issued in June 2016 [Member] | ||||||||
Class of Warrant or Right, Issued During Period (in shares) | 2,000 | |||||||
Class of Warrant or Right, Grants in Period, Grant Date Fair Value (in dollars per share) | $ 5.40 | |||||||
Class of Warrants or Rights, Vesting Period (Year) | 1 year | |||||||
Class of Warrants or Rights, Vested During the Period (in shares) | 1,000 | 1,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 10.50 | |||||||
Warrant In Connection With Amended Subordinated Loan [Member] | ||||||||
Class of Warrant or Right, Issued During Period (in shares) | 1 | |||||||
Class of Warrant or Right, Grants in Period, Grant Date Fair Value (in dollars per share) | $ 2.40 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3 | |||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 41,667 | |||||||
Warrant Issued in Connection with Amended 2017 Credit Agreement [Member] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.75 | |||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1,000,000 |
Note 10 - Stockholders' Equit_3
Note 10 - Stockholders' Equity - Summary of Warrant Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding (in shares) | 43,667 | 2,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.34 | $ 10.50 | |
Outstanding, weighted average remaining contractual life (Year) | 4 years 255 days | 4 years 255 days | 2 years 182 days |
Issued (in shares) | 1,000,000 | 41,667 | |
Issued, weighted average exercise price (in dollars per share) | $ 3.75 | $ 3 | |
Issued, weighted average remaining contractual life (Year) | 4 years 255 days | 4 years 328 days | |
Outstanding (in shares) | 1,043,667 | 43,667 | 2,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.73 | $ 3.34 | $ 10.50 |
Exercisable (in shares) | 43,667 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 3.34 | ||
Exercisable, weighted average remaining contractual life (Year) | 3 years 255 days |
Note 11 - Stock Options and R_3
Note 11 - Stock Options and Restricted Stock (Details Textual) - USD ($) | Jan. 01, 2016 | Jul. 27, 2010 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jul. 18, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 11,569 | 129,689 | 169,645 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 82,000 | |||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 44,263 | ||||||
Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 | ||||||
Share-based Payment Arrangement, Option [Member] | Selling, General and Administrative Expenses [Member] | |||||||
Share-based Payment Arrangement, Expense | $ 3,000 | $ 77,000 | |||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 69,777 | 2,888 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,001 | 98,200 | |||||
Restricted Stock [Member] | Former CEO [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 59,667 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 6,667 | ||||||
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member] | |||||||
Share-based Payment Arrangement, Expense | $ 389,000 | ||||||
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member] | Former CEO [Member] | |||||||
Share-based Payment Arrangement, Expense | $ 199,000 | ||||||
Severance Costs | $ 301,000 | ||||||
Option Plan 2010 Member | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 15.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 381,272 | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 2,541,809 | 7,746 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 5 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 159,448 | ||||||
Option Plan 2010 Member | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | ||||||
Option Plan 2010 Member | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||||
The 2016 Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 3,823 | 692,782 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 24,393 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 533,334 |
Note 11 - Stock Options and R_4
Note 11 - Stock Options and Restricted Stock - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding (in shares) | 129,689 | 169,645 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 8.45 | $ 12.75 | |
Outstanding, weighted average remaining contractual life (Year) | 193 days | 1 year 346 days | 2 years 197 days |
Outstanding, aggregate intrinsic value | $ 93 | ||
Forfeited or Expired (in shares) | (118,120) | (39,956) | |
Forfeited or Expired, weighted average exercise price (in dollars per share) | $ 8.54 | $ 26.70 | |
Outstanding (in shares) | 11,569 | 129,689 | 169,645 |
Outstanding, weighted average exercise price (in dollars per share) | $ 5.87 | $ 8.45 | $ 12.75 |
Vested (in shares) | 11,569 | ||
Vested, weighted average exercise price (in dollars per share) | $ 5.87 | ||
Vested, weighted average remaining contractual life (Year) | 193 days | ||
Vested, aggregate intrinsic value | |||
Exercisable (in shares) | 11,569 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 5.87 | ||
Exercisable, weighted average remaining contractual life (Year) | 193 days | ||
Exercisable, aggregate intrinsic value |
Note 11 - Stock Options and R_5
Note 11 - Stock Options and Restricted Stock - Summary of the Status of Non-vested Shares (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance, non-vested (in shares) | 3,533 | 39,589 |
Balance, non-vested, weighted average grant date fair value (in dollars per share) | $ 3.30 | $ 3 |
Vested, non-vested (in shares) | (1,755) | (32,400) |
Vested, weighted average grant date fair value (in dollars per share) | $ 3.36 | $ 2.85 |
Forfeited, non-vested (in shares) | (1,778) | (3,656) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 19.29 | $ 3.30 |
Balance, non-vested (in shares) | 3,533 | |
Balance, non-vested, weighted average grant date fair value (in dollars per share) | $ 3.30 |
Note 11 - Stock Options and R_6
Note 11 - Stock Options and Restricted Stock - Summary of Restricted Stock Option (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance, Restricted shares (in shares) | 133,756 | 55,778 |
Balance, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ 8.25 | $ 14.70 |
Granted, Restricted shares (in shares) | 10,001 | 98,200 |
Granted, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ 2.49 | $ 4.05 |
Vested, Restricted shares (in shares) | (69,777) | (2,888) |
Vested, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ 6.56 | $ 19.20 |
Forfeited, Restricted shares (in shares) | (49,587) | (17,334) |
Forfeited, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ 8.05 | $ 16.80 |
Balance, Restricted shares (in shares) | 24,393 | 133,756 |
Balance, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ 7.32 | $ 8.25 |
Note 11 - Stock Options and R_7
Note 11 - Stock Options and Restricted Stock - Potentially Dilutive Instruments (Details) - shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Potentially dilutive instruments (in shares) | 466,125 | 250,531 |
Share-based Payment Arrangement, Option [Member] | ||
Potentially dilutive instruments (in shares) | 93,747 | 143,094 |
Restricted Stock [Member] | ||
Potentially dilutive instruments (in shares) | 58,220 | 99,843 |
Warrant [Member] | ||
Potentially dilutive instruments (in shares) | 314,158 | 7,594 |
Note 12 - Commitments and Con_3
Note 12 - Commitments and Contingencies (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | 36 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2019 | Dec. 31, 2020 | Jan. 01, 2019 | |
Operating Lease, Right-of-Use Asset | $ 3,793,000 | $ 2,918,000 | $ 2,400,000 | |
Operating Lease, Liability, Total | 3,039,000 | 2,400,000 | ||
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | 845,000 | |||
Cumulative Effect on Retained Earnings, Net of Tax, Total | (25,020,000) | (27,529,000) | ||
Self-insured Amount per Individual Claim | $ 50,000 | |||
Self-insured, Maximum Coverage Policy | $ 1,800,000 | |||
Self Insurance Reserve | $ 68,000 | 150,000 | ||
Workers' Compensation, Maximum Coverage Policy | 1,800,000 | |||
Workers' Compensation, Accumulated Payments on Claims | 1,800,000 | |||
Workers' Compensation, Estimated Accruals | 1,600,000 | |||
Other Noncurrent Assets [Member] | ||||
Worker's Compensation, Prepaid Amount | $ 189,000 | |||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | 2,400,000 | |||
Operating Lease, Liability, Total | 2,400,000 | |||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-02 [Member] | ||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | $ 98,000 |
Note 12 - Commitments and Con_4
Note 12 - Commitments and Contingencies - Future Minimum Lease Commitments (Details) - USD ($) | Dec. 31, 2020 | Jan. 01, 2019 |
2021, operating leases | $ 964,000 | |
2021, financing leases | 98,000 | |
2022, operating leases | 774,000 | |
2022, financing leases | 41,000 | |
2023, operating leases | 641,000 | |
2023, financing leases | 14,000 | |
2024, operating leases | 473,000 | |
2024, financing leases | 10,000 | |
2025, operating leases | 354,000 | |
2025, financing leases | ||
Thereafter, operating leases | 179,000 | |
Thereafter, financing leases | ||
Total future lease commitments, operating leases | 3,385,000 | |
Total future lease commitments, financing leases | 163,000 | |
Impact of discounting, operating leases | (346,000) | |
Impact of discounting, financing leases | (43,000) | |
Discounted value of lease obligations, operating leases | 3,039,000 | $ 2,400,000 |
Discounted value of lease obligations, financing leases | $ 120,000 |
Note 12 - Commitments and Con_5
Note 12 - Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Current lease cost | $ 55 | $ 954 |
Long-term lease cost | 1,107 | 411 |
Total operating lease cost | 1,162 | 1,365 |
Amortization of right-of-use assets | 189 | 219 |
Interest on lease liabilities | 19 | 28 |
Total lease cost | $ 208 | $ 247 |
Weighted-average lease term (years), operating (Year) | 4 years 29 days | 4 years 219 days |
Weighted-average discount rate, operating | 6.08% | 6.08% |
Weighted-average lease term (years), financing (Year) | 2 years 32 days | 2 years 58 days |
Weighted-average discount rate, financing | 5.94% | 6.10% |
Note 13 - Segment Reporting - R
Note 13 - Segment Reporting - Reportable Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Revenues | $ 15,683 | $ 43,026 | |
Cost of Revenue | 17,211 | 34,607 | |
Segment Profit (Loss) | (1,528) | 8,419 | |
Depreciation and amortization | 5,282 | 5,692 | |
Capital Expenditures | 361 | 1,191 | |
Identifiable assets (1) | [1] | 26,342 | 38,774 |
Production Services [Member] | |||
Revenues | 7,714 | 14,704 | |
Cost of Revenue | 8,410 | 13,575 | |
Segment Profit (Loss) | (696) | 1,129 | |
Depreciation and amortization | 2,378 | 2,648 | |
Capital Expenditures | 176 | 399 | |
Identifiable assets (1) | [1] | 12,353 | 18,233 |
Completion Services [Member] | |||
Revenues | 7,969 | 28,322 | |
Cost of Revenue | 8,801 | 21,032 | |
Segment Profit (Loss) | (832) | 7,290 | |
Depreciation and amortization | 2,512 | 2,922 | |
Capital Expenditures | 185 | 419 | |
Identifiable assets (1) | [1] | 13,050 | 19,121 |
Unallocated and Other Segments [Member] | |||
Revenues | |||
Cost of Revenue | |||
Segment Profit (Loss) | |||
Depreciation and amortization | 392 | 122 | |
Capital Expenditures | 373 | ||
Identifiable assets (1) | [1] | $ 939 | $ 1,420 |
[1] | Identifiable assets is calculated by summing the balances of accounts receivable, net; inventories; property and equipment, net; and other assets. |
Note 13 - Segment Reporting - I
Note 13 - Segment Reporting - Income From Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Segment (loss) profit | $ (1,528) | $ 8,419 |
Sales, general and administrative expenses | (5,002) | (6,153) |
Patent litigation defense costs | (10) | |
Severance and transition costs | (145) | (83) |
(Loss) gain from disposal of equipment | (47) | 73 |
Impairment loss | (733) | (127) |
Depreciation and amortization | (5,282) | (5,692) |
Loss from Operations | $ (12,737) | $ (3,573) |
Note 13 - Segment Reporting -_2
Note 13 - Segment Reporting - Revenues by Geography (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Revenues | $ 15,683 | $ 43,026 | |
Production Services [Member] | |||
Revenues | 7,714 | 14,704 | |
Completion Services [Member] | |||
Revenues | 7,969 | 28,322 | |
Rocky Mountain Region [Member] | Production Services [Member] | |||
Revenues | [1] | 2,689 | 6,515 |
Rocky Mountain Region [Member] | Completion Services [Member] | |||
Revenues | [1] | 6,601 | 21,535 |
Central USA Region [Member] | Production Services [Member] | |||
Revenues | [2] | 4,552 | 7,449 |
Central USA Region [Member] | Completion Services [Member] | |||
Revenues | [2] | 108 | 3,223 |
Eastern USA Region [Member] | Production Services [Member] | |||
Revenues | [3] | 473 | 740 |
Eastern USA Region [Member] | Completion Services [Member] | |||
Revenues | [3] | $ 1,260 | $ 3,564 |
[1] | Includes the D-J Basin/Niobrara field (northeastern Colorado and southeastern Wyoming), the San Juan Basin (southeastern Colorado and northeastern New Mexico), the Powder River and Green River Basins (northeastern and southwestern Wyoming), the Bakken area (western North Dakota and eastern Montana). | ||
[2] | Includes the Scoop/Stack Shale in Oklahoma and the Eagle Ford Shale - in Texas. | ||
[3] | Consists of the southern region of the Marcellus Shale formation (southwestern Pennsylvania and northern West Virginia) and the Utica Shale formation (eastern Ohio). |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - USD ($) | Feb. 10, 2021 | Feb. 03, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Conversion, Original Debt and Accrued Interest, Amount | $ 1,515,000 | |||
Subsequent Event [Member] | Conversion from Subordinated Promissory Note to Common Stock [Member] | ||||
Debt Conversion, Original Debt and Accrued Interest, Amount | $ 1,300,000 | |||
Subsequent Event [Member] | The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | ||||
Repayments of Lines of Credit | $ 3,000,000 | |||
Subsequent Event [Member] | Second Public Offering [Member] | ||||
Proceeds from Issuance of Common Stock | $ 9,000,000 |