Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 10, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000319458 | |
Entity Registrant Name | Enservco Corporation | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-36335 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 84-0811316 | |
Entity Address, Address Line One | 14133 Country Road 9 1/2 | |
Entity Address, City or Town | Longmont | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80504 | |
City Area Code | 303 | |
Local Phone Number | 333-3678 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 11,432,284 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 1,673 | $ 1,467 |
Accounts receivable, net | 2,279 | 1,733 |
Prepaid expenses and other current assets | 2,456 | 858 |
Inventories | 371 | 295 |
Assets held for sale | 527 | 527 |
Total current assets | 7,306 | 4,880 |
Property and equipment, net | 17,070 | 20,317 |
Goodwill | 546 | 546 |
Intangible assets, net | 454 | 617 |
Right-of-use asset - finance, net | 50 | 129 |
Right-of-use asset - operating, net | 2,279 | 2,918 |
Other assets | 404 | 423 |
Non-current assets of discontinued operations | 0 | 353 |
TOTAL ASSETS | 28,109 | 30,183 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 1,635 | 1,931 |
Senior revolving credit facility, related party (including future interest payable of $772 and $892, respectively - see Note 5) | 2,000 | 1,593 |
Lease liability - finance, current | 26 | 65 |
Lease liability - operating, current | 775 | 854 |
Current portion of long-term debt | 57 | 100 |
Current liabilities of discontinued operations | 0 | 31 |
Total current liabilities | 4,493 | 4,574 |
Non-Current Liabilities: | ||
Senior revolving credit facility, related party (including future interest payable of $20 and $485, respectively - see Note 5) | 12,792 | 17,485 |
Subordinated debt, related party | 0 | 1,180 |
Long-term debt, less current portion | 69 | 2,052 |
Lease liability - finance, less current portion | 26 | 55 |
Lease liability - operating, less current portion | 1,631 | 2,185 |
Other liabilities | 24 | 88 |
Long-term liabilities of discontinued operations | 0 | 9 |
Total non-current liabilities | 14,542 | 23,054 |
TOTAL LIABILITIES | 19,035 | 27,628 |
Commitments and Contingencies (Note 7) | ||
Stockholders' Equity: | ||
Preferred stock, $.005 par value, 10,000,000 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock, $.005 par value, 100,000,000 shares authorized; 11,439,191 and 6,307,868 shares issued as of September 30, 2021 and December 31, 2020, respectively; 6,907 shares of treasury stock as of September 30, 2021 and December 31, 2020, respectively; and 11,432,284 and 6,300,961 shares outstanding as of September 30, 2021 and December 31, 2020, respectively | 57 | 32 |
Additional paid-in capital | 40,502 | 30,052 |
Accumulated deficit | (31,485) | (27,529) |
Total stockholders' equity | 9,074 | 2,555 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 28,109 | $ 30,183 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Senior revolving credit facility, interest payable current | $ 772 | $ 892 |
Senior revolving credit facility, interest payable noncurrent | $ 20 | $ 485 |
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) | 11,439,191 | 6,307,868 |
Treasury stock, shares (in shares) | 6,907 | 6,907 |
Common stock, shares outstanding (in shares) | 11,432,284 | 6,300,961 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues: | ||||
Revenue | $ 3,027,000 | $ 1,764,000 | $ 11,257,000 | $ 13,291,000 |
Expenses: | ||||
Cost of revenue | 3,678,000 | 2,473,000 | 12,482,000 | 14,268,000 |
Sales, general, and administrative expenses | 907,000 | 1,049,000 | 2,904,000 | 4,058,000 |
Severance and transition costs | 0 | 0 | 0 | 139,000 |
Loss on disposal of equipment | 0 | 21,000 | 70,000 | 59,000 |
Depreciation and amortization | 1,302,000 | 1,271,000 | 3,975,000 | 3,977,000 |
Total operating expenses | 5,887,000 | 4,814,000 | 19,431,000 | 22,501,000 |
Loss from operations | (2,860,000) | (3,050,000) | (8,174,000) | (9,210,000) |
Other (expense) income: | ||||
Interest expense | (6,000) | (477,000) | (50,000) | (1,665,000) |
Gain on restructuring of senior revolving credit facility (Note 5) | 0 | 11,916,000 | 0 | 11,916,000 |
Other income | 2,689,000 | 29,000 | 4,276,000 | 125,000 |
Total other income | 2,683,000 | 11,468,000 | 4,226,000 | 10,376,000 |
(Loss) income from continuing operations before taxes | (177,000) | 8,418,000 | (3,948,000) | 1,166,000 |
Income tax expense | 0 | (6,000) | 0 | (15,000) |
(Loss) income from continuing operations | (177,000) | 8,412,000 | (3,948,000) | 1,151,000 |
(Loss) income from discontinued operations | 0 | (7,000) | (8,000) | 60,000 |
Net (loss) income | $ (177,000) | $ 8,405,000 | $ (3,956,000) | $ 1,211,000 |
(Loss) income from continuing operations per common share - basic and diluted (in dollars per share) | $ (0.02) | $ 2.15 | $ (0.37) | $ 0.31 |
Income from discontinued operations per common share - basic and diluted (in dollars per share) | 0 | 0 | 0 | 0.01 |
Net (loss) income per share - basic and diluted (in dollars per share) | $ (0.02) | $ 2.15 | $ (0.37) | $ 0.32 |
Weighted average number of common shares outstanding - basic and diluted (in shares) | 11,433 | 3,910 | 10,692 | 3,768 |
Production Services [Member] | ||||
Revenues: | ||||
Revenue | $ 2,483,000 | $ 1,363,000 | $ 6,556,000 | $ 5,948,000 |
Expenses: | ||||
Cost of revenue | 2,489,000 | 1,347,000 | 6,802,000 | 6,655,000 |
Depreciation and amortization | 639,000 | 496,000 | 1,739,000 | 1,813,000 |
Completion Services [Member] | ||||
Revenues: | ||||
Revenue | 544,000 | 401,000 | 4,701,000 | 7,343,000 |
Expenses: | ||||
Cost of revenue | 1,189,000 | 1,126,000 | 5,680,000 | 7,613,000 |
Depreciation and amortization | $ 562,000 | $ 655,000 | $ 1,935,000 | $ 1,869,000 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) shares 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, 2019 | 3,703 | |||||||
Balance at Dec. 31, 2019 | $ 19,000 | $ 22,325,000 | $ (25,020,000) | $ (2,676,000) | ||||
Stock-based compensation, net of issuance costs | $ 0 | 39,000 | 0 | 39,000 | ||||
Restricted share cancellation (in shares) | (2) | |||||||
Restricted share cancellation | $ 0 | 0 | 0 | 0 | ||||
Net loss | $ 0 | 0 | (2,837,000) | (2,837,000) | ||||
Restricted share cancellation (in shares) | 2 | |||||||
Restricted share cancellation | $ 0 | 0 | 0 | 0 | ||||
Balance (in shares) at Mar. 31, 2020 | 3,701 | |||||||
Balance at Mar. 31, 2020 | $ 19,000 | 22,364,000 | (27,857,000) | (5,474,000) | ||||
Balance (in shares) at Dec. 31, 2019 | 3,703 | |||||||
Balance at Dec. 31, 2019 | $ 19,000 | 22,325,000 | (25,020,000) | (2,676,000) | ||||
Net loss | 1,211,000 | |||||||
Balance (in shares) at Sep. 30, 2020 | 4,666 | |||||||
Balance at Sep. 30, 2020 | $ 23,000 | 26,790,000 | (23,809,000) | 3,004,000 | ||||
Balance (in shares) at Mar. 31, 2020 | 3,701 | |||||||
Balance at Mar. 31, 2020 | $ 19,000 | 22,364,000 | (27,857,000) | (5,474,000) | ||||
Stock-based compensation, net of issuance costs | $ 0 | 322,000 | 0 | 322,000 | ||||
Restricted share cancellation (in shares) | 45 | |||||||
Restricted share cancellation | $ 0 | 0 | 0 | 0 | ||||
Net loss | $ 0 | 0 | (4,357,000) | (4,357,000) | ||||
Restricted share issuance (in shares) | 7 | |||||||
Restricted share issuance | $ 0 | 0 | 0 | 0 | ||||
Restricted share cancellation (in shares) | (45) | |||||||
Restricted share cancellation | $ 0 | 0 | 0 | 0 | ||||
Restricted share vested | $ 0 | 5,000 | 0 | 5,000 | ||||
Balance (in shares) at Jun. 30, 2020 | 3,663 | |||||||
Balance at Jun. 30, 2020 | $ 19,000 | 22,691,000 | (32,214,000) | (9,504,000) | ||||
Stock-based compensation, net of issuance costs | $ 0 | 16,000 | 0 | 16,000 | ||||
Restricted share cancellation (in shares) | (3) | |||||||
Restricted share cancellation | $ 0 | 0 | 0 | 0 | ||||
Net loss | $ 0 | 0 | 8,405,000 | 8,405,000 | ||||
Restricted share cancellation (in shares) | 3 | |||||||
Restricted share cancellation | $ 0 | 0 | 0 | 0 | ||||
Shares issued to Cross River Partners, L.P. in subordinated debt and accrued interest conversion (in shares) | 404 | |||||||
Shares issued to Cross River Partners, L.P. in subordinated debt and accrued interest conversion | $ 2,000 | 1,513,000 | 0 | 1,515,000 | ||||
Shares and warrants issued to East West Bank in senior revolving credit debt restructuring (in shares) | 533 | |||||||
Shares and warrants issued to East West Bank in senior revolving credit debt restructuring | $ 2,000 | 2,530,000 | 0 | 2,532,000 | ||||
Shares issued (in shares) | 69 | |||||||
Shares issued | $ 0 | $ 40,000 | $ 0 | $ 40,000 | ||||
Balance (in shares) at Sep. 30, 2020 | 4,666 | |||||||
Balance at Sep. 30, 2020 | $ 23,000 | 26,790,000 | (23,809,000) | 3,004,000 | ||||
Balance (in shares) at Dec. 31, 2020 | 6,301 | |||||||
Balance at Dec. 31, 2020 | $ 32,000 | 30,052,000 | (27,529,000) | 2,555,000 | ||||
Stock-based compensation, net of issuance costs | 0 | 24,000 | 0 | 24,000 | ||||
Net loss | $ 0 | 0 | (2,173,000) | (2,173,000) | ||||
Restricted share issuance (in shares) | 330 | |||||||
Restricted share issuance | $ 1,000 | 310,000 | 0 | 311,000 | ||||
Shares issued to Cross River Partners, L.P. in subordinated debt and accrued interest conversion (in shares) | 602 | |||||||
Shares issued to Cross River Partners, L.P. in subordinated debt and accrued interest conversion | $ 3,000 | 1,246,000 | 0 | 1,249,000 | ||||
Shares issued (in shares) | 4,200 | |||||||
Shares issued | $ 21,000 | 8,824,000 | 0 | 8,845,000 | ||||
Balance (in shares) at Mar. 31, 2021 | 11,433 | |||||||
Balance at Mar. 31, 2021 | $ 57,000 | 40,456,000 | (29,702,000) | 10,811,000 | ||||
Balance (in shares) at Dec. 31, 2020 | 6,301 | |||||||
Balance at Dec. 31, 2020 | $ 32,000 | 30,052,000 | (27,529,000) | 2,555,000 | ||||
Net loss | (3,956,000) | |||||||
Balance (in shares) at Sep. 30, 2021 | 11,432 | |||||||
Balance at Sep. 30, 2021 | $ 57,000 | 40,502,000 | (31,485,000) | 9,074,000 | ||||
Balance (in shares) at Mar. 31, 2021 | 11,433 | |||||||
Balance at Mar. 31, 2021 | $ 57,000 | 40,456,000 | (29,702,000) | 10,811,000 | ||||
Stock-based compensation, net of issuance costs | 0 | 25,000 | 0 | 25,000 | ||||
Net loss | $ 0 | 0 | (1,606,000) | (1,606,000) | ||||
Balance (in shares) at Jun. 30, 2021 | 11,433 | |||||||
Balance at Jun. 30, 2021 | $ 57,000 | 40,481,000 | (31,308,000) | 9,230,000 | ||||
Stock-based compensation, net of issuance costs | $ 0 | 21,000 | 0 | 21,000 | ||||
Restricted share cancellation (in shares) | (1) | |||||||
Net loss | $ 0 | 0 | (177,000) | (177,000) | ||||
Restricted share cancellation (in shares) | 1 | |||||||
Balance (in shares) at Sep. 30, 2021 | 11,432 | |||||||
Balance at Sep. 30, 2021 | $ 57,000 | $ 40,502,000 | $ (31,485,000) | $ 9,074,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
OPERATING ACTIVITIES: | ||
Net (loss) income | $ (3,956,000) | $ 1,211,000 |
Net (loss) income from discontinued operations | (8,000) | 60,000 |
Net (loss) income from continuing operations | (3,948,000) | 1,151,000 |
Adjustments to reconcile net (loss) income to net cash used in operating activities | ||
Depreciation and amortization | 3,975,000 | 3,977,000 |
Loss on disposal of equipment | 70,000 | 59,000 |
Board compensation issued in equity | 311,000 | 0 |
Stock-based compensation | 70,000 | 377,000 |
Amortization of debt issuance costs and discount | 8,000 | 119,000 |
Gain on restructuring of senior revolving credit facility | 0 | (11,916,000) |
Gain on forgiveness of PPP loan (Note 5) | (1,964,000) | 0 |
Provision for bad debt (recovery) expense | (15,000) | 362,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (531,000) | 5,048,000 |
Inventories | (76,000) | 88,000 |
Prepaid expense and other current assets | (1,596,000) | (593,000) |
Income taxes receivable | 0 | (14,000) |
Amortization of operating lease assets | 638,000 | 635,000 |
Other assets | 92,000 | 363,000 |
Accounts payable and accrued liabilities | (224,000) | (1,469,000) |
Operating lease liabilities | (633,000) | (615,000) |
Other liabilities | (64,000) | 0 |
Net cash used in operating activities - continuing operations | (3,887,000) | (2,428,000) |
Net cash provided by operating activities - discontinued operations | 4,000 | 133,000 |
Net cash used in operating activities | (3,883,000) | (2,295,000) |
INVESTING ACTIVITIES: | ||
Purchases of property and equipment | (348,000) | (344,000) |
Proceeds from insurance claims | 0 | 294,000 |
Proceeds from disposals of property and equipment | 65,000 | 341,000 |
Net cash (used in) provided by investing activities - continuing operations | (283,000) | 291,000 |
Net cash provided by investing activities - discontinued operations | 0 | 675,000 |
Net cash (used in) provided by investing activities | (283,000) | 966,000 |
FINANCING ACTIVITIES: | ||
Gross proceeds from stock issuance | 9,660,000 | 205,000 |
Stock issuance costs and registration fees | (815,000) | (165,000) |
Term loan repayment | (86,000) | (109,000) |
Net line of credit repayments | (701,000) | (855,000) |
TDR accrued future interest payments | (585,000) | 0 |
Payments of finance leases | (99,000) | (350,000) |
Net cash provided by financing activities - continuing operations | 4,374,000 | 666,000 |
Net cash used in financing activities - discontinued operations | (2,000) | 0 |
Net cash provided by financing activities | 4,372,000 | 666,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | 206,000 | (663,000) |
Cash and Cash Equivalents, beginning of period | 1,467,000 | 663,000 |
Cash and Cash Equivalents, end of period | 1,673,000 | 0 |
Supplemental Cash Flow Information: | ||
Cash paid for interest | 630,000 | 1,415,000 |
Cash paid for taxes | 0 | 2,000 |
Supplemental Disclosure of Non-cash Investing and Financing Activities: | ||
Non-cash conversion of subordinated debt and accrued interest to Company common stock | 1,312,000 | 1,515,000 |
Non-cash conversion of unamortized subordinated debt discount | 61,000 | 0 |
Non-cash reduction of debt in connection with restructuring of senior revolving credit facility | 0 | 16,000,000 |
Non-cash issuance of Company common stock and warrants in connection with restructuring of senior revolving credit facility | 0 | 2,532,000 |
Non-cash conversion of accrued interest to senior revolving credit facility | 0 | 219,000 |
Equipment Term Loan [Member] | ||
FINANCING ACTIVITIES: | ||
Term loan repayment | (3,000,000) | 0 |
Paycheck Protection Program CARES Act [Member] | ||
FINANCING ACTIVITIES: | ||
Proceeds from PPP loan (Note 5) | $ 0 | $ 1,940,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
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 hot oiling and acidizing ("Production Services") and frac water heating ("Completion and Other Services"). The accompanying unaudited condensed consolidated financial statements have been derived from the accounting records of Enservco Corporation, Heat Waves Hot Oil Service LLC ("Heat Waves"), . ("Dillco"), Heat Waves Water Management LLC ("HWWM"), and Adler Hot Oil Service, LLC ("Adler") (collectively, the "Company") as of September 30, 2021 December 31, 2020 three nine September 30, 2021 2020. 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. Adler Hot Oil Service, LLC was dissolved during the second quarter of 2021. Heat Waves Water Management LLC Colorado 100% by Enservco Discontinued operations in 2019. Heat Waves Water Management LLC was dissolved during the second quarter of 2021. Dillco Fluid Service, Inc Kansas 100% by Enservco Discontinued operations in 2018. Dillco Fluid Service, Inc was dissolved during the second quarter of 2021. HE Services LLC Nevada 100% by Heat Waves No active business operations. Owned construction equipment used by Heat Waves. HE Services LLC was dissolved on December 23, 2020. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles for interim financial information and with the instructions to Form 10 8 X. not not The accompanying unaudited condensed consolidated financial statements were prepared in accordance with GAAP and follow the same accounting policies and methods of their application as the most recent annual financial statements. These interim financial statements should be read in conjunction with the financial statements and related footnotes included in the Annual Report on Form 10 December 31, 2020. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 – Summary of Significant Accounting Policies Going Concern On August 10, 2017, "2017 three September 23, 2020, five October 15, 2021. February 1, 2021, October 15, 2022, April 26, 2021 ( November 15, 2021 October 15, 2022. Subsequent to September 30, 2021, three October 31, 2021, three November 30, 2021. not three $172,000 On November 12, 2021, October three November December not three November 30, 2021, November December 31, 2021 November December January 31, 2022 March 31, 2022, three April 30, 2022 September 30, 2022, three April 30, 2022 May 31, 2022, February 2022 March 2022. October Our condensed consolidated 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 three nine September 30, 2021, September 30, 2021, twelve October 15, 2022. one November 15, 2022. Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three one may Accounts Receivable Accounts receivable are stated at the amounts billed to customers, net of an allowance for 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 potential future losses. This 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 status of existing receivables. The losses ultimately incurred could differ materially in the near term from the amounts estimated in determining this allowance. As of September 30, 2021 December 31, 2020, three nine September 30, 2021, three nine September 30, 2020, Inventories Inventories consist primarily of propane, diesel fuel and chemicals that are used in the servicing of oil wells and are carried at the lower of cost or net realizable value in accordance with the first first three nine September 30, 2021 2020, y did not write-downs or write-offs of inventories . Property and Equipment Property and equipment consists of (i) trucks, trailers and pickups; (ii) (iii) real property which includes land and buildings used for office and shop facilities and wells used for the disposal of water; (iv) other equipment such as tools used for maintaining and repairing vehicles; and (v) office furniture and fixtures, and computer equipment. Property and equipment is stated at cost less accumulated depreciation. The Company capitalizes interest on certain qualifying assets that are undergoing activities to prepare them for their intended use. Interest costs incurred during the fabrication period are capitalized and amortized over the life of the assets. The Company did not three nine September 30, 2021 2020. Any difference between the net book value of the property and equipment and the proceeds of an asset’s sale, or settlement of an insurance claim, is recorded as a gain or loss in the Company’s condensed consolidated statements of operations. 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 major part of its operations from leased facilities. Each of these leases is accounted for as an operating lease. Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not The Company amortizes leasehold improvements over the shorter of the life of the lease or the life of the improvements. The Company leases trucks and equipment in the normal course of business, which may rental expense on equipment under operating leases over the lease term as it becomes payable; there are no rent escalation terms associated with these equipment leases. The Company records amortization expense on equipment under finance leases on a straight-line basis, as well as interest expense based on our implicit borrowing rate at the date of the lease inception. The equipment leases contain purchase options that allow the Company to purchase the leased equipment at the end of the lease term, based on the market price of the equipment at the time of the lease termination. Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circum stances indicate that the carrying amount of the asset may not three nine September 30, 2021, no first 2020, 19 y reviewed the undiscounted future cash flows in its assessment of whether long-lived assets had been impaired. The Company concluded that there was no impairment of its long-lived assets for the three nine September 30, 2020. Assets Held for Sale The Company classifies long-lived assets intended to be sold as held for sale 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 not held for sale not held for sale . For the three nine September 30, 2021 2020, 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 item "Assets held for sale" 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 For the three nine September 30, 2021, no first 2020, 19 three nine September 30, 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 10 Employee Retention Credits The Employee Retention Credits, a provision of the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), was extended through December 31, 2021 November 15, 2021, September 30, 2021. 2021, first three 2021. second 2021, third h quarters of 2020 three nine September 30, 2021, Earnings (Loss) Per Share Basic earnings per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing net income (loss) by the diluted weighted average number of common shares outstanding for the period. The diluted weighted average number of common shares outstanding for the period is computed using the treasury stock method for Company common stock that may As of September 30, 2021 2020 , there were outstanding stock options, unvested restricted stock awards and warrants to acquire an aggr egate of 1,376,239 and 1,166,733 shares of Company common stock, respectively, which have a potentially dilutive impact on earnings per share. As of September 30, 2021 2020, (the difference between the estimated fair value of the Company’s common stock on September 30, 2021 2020, not Income Taxes The Company recognizes deferred tax liabilities and assets based on the differences between the tax basis of assets and liabilities and their reported amounts in the condensed 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 50% may not Interest and penalties associated with tax positions are recorded in the period assessed as "Other expense" in the condensed consolidated statements of operations. The Company files income tax returns in the United States of America ("USA") and in the states in which it conducts its business operations. The Company ’s USA 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 ( ) 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 ). Specific inputs used in the Lattice are the underlying stock price, the exercise price of the warrant, expected dividends, historical volatility, term to expiration and risk-free interest rates. The Company did not three nine September 30, 2021. 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 USA 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 zero 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 The Company used the market-value of Company common stock to determine the fair value of the performance-based restricted stock awarded in 2018 2019. 2021 2020. Management Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP 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 provisions 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 Accounting Pronouncements In June 2016, 2016 13, 326 December 15, 2022. not 2016 13 In December 2019, 2019 12, 740 740, 2019 12 January 1, 2021, not |
Note 3 - Property and Equipment
Note 3 - Property and Equipment | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 3 – Property and Equipment Property and equipment consist of the following (in thousands): September 30, 2021 December 31, 2020 Trucks and vehicles $ 57,076 $ 57,224 Other equipment 1,961 1,319 Buildings and improvements 3,203 3,176 Land 378 378 Total property and equipment 62,618 62,097 Accumulated depreciation (45,548 ) (41,780 ) Property and equipment, net $ 17,070 $ 20,317 For the three nine September 30, 2021, ly $1.2 million and $ 3.8 m three nine September 30, 2020, |
Note 4 - Intangible Assets
Note 4 - Intangible Assets | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 4 – The components of our intangible assets are as follows (in thousands): September 30 , 2021 December 31, 2020 Customer relationships $ 626 $ 626 Patents and trademarks 441 441 Total intangible assets 1,067 1,067 Accumulated amortization (613 ) (450 ) Net carrying value $ 454 $ 617 The useful lives of our intangible assets are estimated to be five three nine September 30, 2021, roximately $54,000 and $163,000, resp three nine September 30, 2020, The following table represents the amortization expense for the next five twelve September 30 ( 2022 2023 2024 2025 2026 Customer relationships $ 125 $ 125 $ 10 $ - $ - Patents and trademarks 93 93 8 - - Total intangible asset amortization expense $ 218 $ 218 $ 18 $ - $ - |
Note 5 - Debt
Note 5 - Debt | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 5 – Debt East West Bank Revolving Credit Facility On August 10, 2017, 2017 2017 September 23, 2020 January 1, 2021 January 1, 2021. April 26, 2021 ( November 15, 2021 October 15, 2022. first October 15, 2022, Under the 2017 September 30, 2021: ( 1 December 31, 2020, not ( 2 three three March 31, 2021, seventy ( 3 On February 11, 2021, September 30, 2021, September 30, 2021, 2017 September 30, 2021 470 60, Subsequent to September 30, 2021, three October 31, 2021, three November 30, 2021. not 70% three $172,000 l On November 12, 2021, October three November December not three November 30, 2021, November December 31, 2021 November December January 31, 2022 March 31, 2022, three April 30, 2022 September 30, 2022, three April 30, 2022 May 31, 2022, February 2022 March 2022. October In connection with amending the 2017 September 23, 2020, five 533,334 533,334 not March 23, 2021. 1,000,000 September 23, 2021 September 23, 2025. third 2020, $16.0 Debt Issuance Costs We capitalized certain debt issuance costs incurred in connection with the Credit Facility discussed above and these costs were amortized to interest expense over the term of the facility on a straight-line basis. There were no remaining unamortized debt issuance costs as of September 30, 2021 December 31, 2020. three nine September 30, 2020, $12,000 and $82,000, respectively, of these costs to "Interest expense" in the condensed consolidated statements of operations. Paycheck Protection Program On April 10, 2020, March 27, 2020, On November 9, 2020, July 8, 2021, three nine September 30, 2021. Notes Payable Long-term debt consists of the following (in thousands): September 30 , 2021 December 31, 2020 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% 3% 10 October 15, 2022 $ 14,792 $ 19,078 Paycheck Protection Loan. Interest is at 1% April 10, 2022 - 1,940 Subordinated Promissory Note with related party. Interest at 10 - 1,250 Real Estate Loan for a facility in North Dakota. Interest is at 5.75 5,255 126 167 Vehicle loans for three pickups. Interest at 8.59 3,966 - 31 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 - 14 Total long-term debt 14,918 22,480 Less debt discount - (70 ) Less current portion (2,057 ) (1,693 ) Long-term debt, net of debt discount and current portion $ 12,861 $ 20,717 Aggregate maturities of debt are as follows (in thousands): For the twelve months ending September 30, 2022 $ 2,057 2023 12,853 2024 8 Total $ 14,918 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 6 – Income Taxes Income tax expense during interim periods is based on applying an estimated annual effective income tax rate to year-to-date income, plus any significant unusual or infrequently occurring items which are recorded in the interim period. The provision for income taxes for the three nine September 30, 2021 2020 -tax income primarily because of state income taxes and estimated permanent differences. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and significant judgment including, but not may In assessing the realization of deferred tax assets, management considers whether it is more likely than not not 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. For the nine September 30, 2021 2020, |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 7 – Commitments and Contingencies As of September 30 , 2021, June 2026. uture minimum lease payments for these operating and finance lease commitments are as follows (in thousands): Operating Leases Finance Leases For the twelve months ending September 30, 2022 $ 859 $ 28 2023 637 14 2024 548 12 2025 352 1 2026 269 - Total future lease payments 2,665 55 Impact of discounting (259 ) (3 ) Discounted value of lease obligations $ 2,406 $ 52 The following table summarizes the components of our gross operating and finance lease costs incurred for the three nine September 30, 2021 2020 For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Operating lease cost: Current lease cost $ 24 $ 8 $ 57 $ 51 Long-term lease cost 256 256 768 835 Total operating lease cost $ 280 $ 264 $ 825 $ 886 Finance lease cost: Amortization of right-of-use assets $ 7 $ 25 $ 54 $ 145 Interest on lease liabilities 1 2 5 14 Total finance lease cost $ 8 $ 27 $ 59 $ 159 Our weighted-average lease term and discount rate used for the nine September 30, 2021 2020 For the Nine Months Ended September 30, 2021 2020 Operating: Weighted-average lease term (years) 3.57 4.26 Weighted-average discount rate 6.09 % 6.08 % Finance: Weighted-average lease term (years) 2.36 2.26 Weighted-average discount rate 5.72 % 5.95 % Self-Insurance In June 2015, first $50,000 in medical costs per indiv The Company had an accrued liability of approx imately $95,000 and $15 0,000 as of September 30, 2021 December 31, 2020, December 31, 2020. January 1, 2021, no Effective April 1, 2015, any had entered into a workers’ compensation and employer’s liability insurance policy with a term through March 31, 2018. September 30, 2021, not December 31, 2017, September 30, 2021, September 2020, September 30, 2021, no April 1, 2018, no Litigation On November 8, 2021, two November 19, 2019. not |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 8 – Stockholders ’ Equity Conversion of Subordinated Debt to Equity On August 13, 2020, In a separate transaction on February 11, 2021, one February 11, 2022 February 11, 2026. Warrants On November 11, 2019, one five November 11, 2024. On September 23, 2020, one five one September 23, 2021 September 23, 2025. On February 11, 2021, one five one February 11, 2022 February 11, 2026. Each grant of warrants granted to Cross River was reviewed and approved by the independent directors of the Company. On April 12, 2021, may A summary of warrant activity for the nine months ended September 30, 2021 Weighted Average Weighted Average Remaining Warrants Shares Exercise Price Contractual Life (Years) Outstanding as of December 31, 2020 1,043,667 $ 3.73 4.7 Issued 150,418 2.51 4.0 Expired (2,000 ) 10.50 - Outstanding as of September 30, 2021 1,192,085 $ 3.57 4.0 Exercisable as of September 30, 2021 1,041,667 $ 3.72 3.9 |
Note 9 - Stock Options and Rest
Note 9 - Stock Options and Restricted Stock | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 9 – Stock Options and Restricted Stock Stock Options On July 27, 2010, 2010 "2010 2010 January 1, 2016, 2010 one three 2010 2010 September 30, 2021, no 2010 On July 18, 2016, 2016 "2016 September 29, 2016. may 2016 2010 September 30, 2021, 181,221 shares of restricted stock 2016 For t nine months ended September 30, 2021 2020, no options were granted or exercised. The following is a summary of stock option activity for all equity plans for the nine September 30, 2021: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Outstanding as of December 31, 2020 11,569 $ 5.87 0.53 Forfeited or expired (8,635 ) 5.98 - Outstanding as of September 30, 2021 2,934 $ 5.55 0.35 Vested as of September 30, 2021 2,934 $ 5.55 0.35 Exercisable as of September 30, 2021 2,934 $ 5.55 0.35 There was no aggregate intrinsic value (the difference between the estimated fair value of the Company’s common stock on September 30, 2021, For the three nine September 30 2021, ny recognized no stock-based compensation costs for stock options. For t three September 30 2020, the nine September 30 2020, As of September 30, 2021, 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 as of December 31, 2020 24,393 $ 7.32 Granted 165,000 1.05 Vested (6,505 ) 7.94 Forfeited (1,667 ) 8.92 Restricted shares as of September 30, 2021 181,221 $ 1.58 For the three nine September 30, 2021, three nine September 30, 2020, The following table sets forth the weighted average outstanding of potentially dilutive instruments for the three nine September 30, 2021 2020: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Stock options 2,934 98,823 4,201 106,805 Restricted stock 181,550 27,071 178,720 69,523 Warrants 1,192,085 119,754 1,170,204 69,214 Weighted average 1,376,569 245,648 1,353,125 245,542 On January 4, 2021, December 31, 2020, October 2019 December 2020. nine September 30, 2021, nine September 30, 2021, 2021 fourth 2021. |
Note 10 - Segment Reporting
Note 10 - Segment Reporting | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 10 – Segment Reporting Enservco’s reportable operating segments are Production Services and Completion and Other Services. These segments have been selected based on management’s resource allocation and performance assessment in making decisions regarding the Company. The following is a description of the segments. Production Services This segment utilizes a fleet of hot oiling trucks and acidizing units to provide maintenance services to the domestic oil and gas industry. These services include hot oiling services and acidizing services. Hot oiling is utilized by customers to remove paraffins from wellbores, pipes and vessels. Acidizing services are utilized by customers to clean reservoir surfaces and increase flow rates. Completion and Other Services This segment utilizes a fleet of frac water heating units to provide frac water heating services and related support services to the domestic oil and gas industry. These services also include other services for other industries, which consist primarily of hauling and transport of materials and heat treating for customers. Frac water heating is utilized by customers during the completion of oil and gas wells. Unallocated This segment 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 For the Three Months Ended September 30 , 2021: Revenues $ 2,483 $ 544 $ - $ 3,027 Cost of revenue 2,489 1,189 - 3,678 Segment loss $ (6 ) $ (645 ) $ - $ (651 ) Depreciation and amortization $ 639 $ 562 $ 101 $ 1,302 Capital expenditures $ 77 $ 68 $ 8 $ 153 Identifiable assets (1) $ 11,906 $ 10,460 $ 614 $ 22,980 For the Three Months Ended September 30, 2020: Revenues $ 1,363 $ 401 $ - $ 1,764 Cost of revenue 1,347 1,126 - $ 2,473 Segment profit (loss) $ 16 $ (725 ) $ - $ (709 ) Depreciation and amortization $ 496 $ 655 $ 120 $ 1,271 Capital expenditures $ 11 $ 28 $ - $ 39 Identifiable assets (1) $ 13,042 $ 13,444 $ 1,047 $ 27,533 ( 1 Identifiable assets is calculated by summing the balances of accounts receivable, net; inventories; property and equipment, net; net right-of-use lease assets; assets held for sale; and other assets. Production Services Completion and Other Services Unallocated Total For the Nine Months Ended September 30, 2021: Revenues $ 6,556 $ 4,701 $ - $ 11,257 Cost of revenue 6,802 5,680 - 12,482 Segment loss $ (246 ) $ (979 ) $ - $ (1,225 ) Depreciation and amortization $ 1,739 $ 1,935 $ 301 $ 3,975 Capital expenditures $ 166 $ 174 $ 8 $ 348 Identifiable assets (1) $ 11,906 $ 10,460 $ 614 $ 22,980 For the Nine Months Ended September 30, 2020: Revenues $ 5,948 $ 7,343 $ - $ 13,291 Cost of revenue 6,655 7,613 - $ 14,268 Segment loss $ (707 ) $ (270 ) - $ (977 ) Depreciation and amortization $ 1,813 $ 1,869 $ 295 $ 3,977 Capital expenditures $ 170 $ 174 $ - $ 344 Identifiable assets (1) $ 13,042 $ 13,444 $ 1,047 $ 27,533 ( 1 Identifiable assets is calculated by summing the balances of accounts receivable, net; inventories; property and equipment, net; net right-of-use lease assets; assets held for sale; and other assets. The following table reconciles the segment losses reported above to the loss from operations reported in the condensed consolidated statements of operations (in thousands): For the Three Months Ended September 30 , 2021 2020 Segment loss $ (651 ) $ (709 ) Sales, general, and administrative expenses (907 ) (1,049 ) Loss on disposal of equipment - (21 ) Depreciation and amortization (1,302 ) (1,271 ) Loss from operations $ (2,860 ) $ (3,050 ) For the Nine Months Ended September 30 , 2021 2020 Segment loss $ (1,225 ) $ (977 ) Sales, general, and administrative expenses (2,904 ) (4,058 ) Severance and transition costs - (139 ) Loss on disposal of equipment (70 ) (59 ) Depreciation and amortization (3,975 ) (3,977 ) Loss from operations $ (8,174 ) $ (9,210 ) Geographic Areas The Company only conducts business in the USA, in what it believes are three three For the Three Months Ended September 30 , 2021 2020 BY GEOGRAPHY Production Services: Rocky Mountain Region (1) $ 676 $ 539 Central USA Region (2) 1,651 746 Eastern USA Region (3) 156 78 Total Production Services 2,483 1,363 Completion and Other Services: Rocky Mountain Region (1) 435 375 Central USA Region (2) 38 - Eastern USA Region (3) 71 26 Total Completion and Other Services 544 401 Total Revenues $ 3,027 $ 1,764 For the Nine Months Ended September 30 , 2021 2020 BY GEOGRAPHY Production Services: Rocky Mountain Region (1) $ 1,708 $ 2,080 Central USA Region (2) 4,304 3,562 Eastern USA Region (3) 544 306 Total Production Services 6,556 5,948 Completion and Other Services: Rocky Mountain Region (1) 3,142 6,092 Central USA Region (2) 38 108 Eastern USA Region (3) 1,521 1,143 Total Completion and Other Services 4,701 7,343 Total Revenues $ 11,257 $ 13,291 Notes to tables: ( 1 Includes the DJ 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 Eagle Ford Shale in Southern Texas and the East Texas Oil Field beginning during the second 2021. ( 3 Consists of the southern region of the Marcellus Shale formation (southwestern Pennsylvania and northern West Virginia) and the Utica Shale formation (eastern Ohio). |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Going Concern, Policy [Policy Text Block] | Going Concern On August 10, 2017, "2017 three September 23, 2020, five October 15, 2021. February 1, 2021, October 15, 2022, April 26, 2021 ( November 15, 2021 October 15, 2022. Subsequent to September 30, 2021, three October 31, 2021, three November 30, 2021. not three $172,000 On November 12, 2021, October three November December not three November 30, 2021, November December 31, 2021 November December January 31, 2022 March 31, 2022, three April 30, 2022 September 30, 2022, three April 30, 2022 May 31, 2022, February 2022 March 2022. October Our condensed consolidated 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 three nine September 30, 2021, September 30, 2021, twelve October 15, 2022. one November 15, 2022. |
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 one may |
Accounts Receivable [Policy Text Block] | Accounts Receivable Accounts receivable are stated at the amounts billed to customers, net of an allowance for 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 potential future losses. This 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 status of existing receivables. The losses ultimately incurred could differ materially in the near term from the amounts estimated in determining this allowance. As of September 30, 2021 December 31, 2020, three nine September 30, 2021, three nine September 30, 2020, |
Inventory, Policy [Policy Text Block] | Inventories Inventories consist primarily of propane, diesel fuel and chemicals that are used in the servicing of oil wells and are carried at the lower of cost or net realizable value in accordance with the first first three nine September 30, 2021 2020, y did not write-downs or write-offs of inventories . |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment consists of (i) trucks, trailers and pickups; (ii) (iii) real property which includes land and buildings used for office and shop facilities and wells used for the disposal of water; (iv) other equipment such as tools used for maintaining and repairing vehicles; and (v) office furniture and fixtures, and computer equipment. Property and equipment is stated at cost less accumulated depreciation. The Company capitalizes interest on certain qualifying assets that are undergoing activities to prepare them for their intended use. Interest costs incurred during the fabrication period are capitalized and amortized over the life of the assets. The Company did not three nine September 30, 2021 2020. Any difference between the net book value of the property and equipment and the proceeds of an asset’s sale, or settlement of an insurance claim, is recorded as a gain or loss in the Company’s condensed consolidated statements of operations. |
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 major part of its operations from leased facilities. Each of these leases is accounted for as an operating lease. Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not The Company amortizes leasehold improvements over the shorter of the life of the lease or the life of the improvements. The Company leases trucks and equipment in the normal course of business, which may rental expense on equipment under operating leases over the lease term as it becomes payable; there are no rent escalation terms associated with these equipment leases. The Company records amortization expense on equipment under finance leases on a straight-line basis, as well as interest expense based on our implicit borrowing rate at the date of the lease inception. The equipment leases contain purchase options that allow the Company to purchase the leased equipment at the end of the lease term, based on the market price of the equipment at the time of the lease termination. |
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 circum stances indicate that the carrying amount of the asset may not three nine September 30, 2021, no first 2020, 19 y reviewed the undiscounted future cash flows in its assessment of whether long-lived assets had been impaired. The Company concluded that there was no impairment of its long-lived assets for the three nine September 30, 2020. Assets Held for Sale The Company classifies long-lived assets intended to be sold as held for sale 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 not held for sale not held for sale . For the three nine September 30, 2021 2020, 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 item "Assets held for sale" |
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 For the three nine September 30, 2021, no first 2020, 19 three nine September 30, 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 10 |
Employee Retention Tax Credit [Policy Text Block] | Employee Retention Credits The Employee Retention Credits, a provision of the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), was extended through December 31, 2021 November 15, 2021, September 30, 2021. 2021, first three 2021. second 2021, third h quarters of 2020 three nine September 30, 2021, |
Earnings Per Share, Policy [Policy Text Block] | Earnings (Loss) Per Share Basic earnings per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing net income (loss) by the diluted weighted average number of common shares outstanding for the period. The diluted weighted average number of common shares outstanding for the period is computed using the treasury stock method for Company common stock that may As of September 30, 2021 2020 , there were outstanding stock options, unvested restricted stock awards and warrants to acquire an aggr egate of 1,376,239 and 1,166,733 shares of Company common stock, respectively, which have a potentially dilutive impact on earnings per share. As of September 30, 2021 2020, (the difference between the estimated fair value of the Company’s common stock on September 30, 2021 2020, not |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company recognizes deferred tax liabilities and assets based on the differences between the tax basis of assets and liabilities and their reported amounts in the condensed 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 50% may not Interest and penalties associated with tax positions are recorded in the period assessed as "Other expense" in the condensed consolidated statements of operations. The Company files income tax returns in the United States of America ("USA") and in the states in which it conducts its business operations. The Company ’s USA 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 ( ) 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 ). Specific inputs used in the Lattice are the underlying stock price, the exercise price of the warrant, expected dividends, historical volatility, term to expiration and risk-free interest rates. The Company did not three nine September 30, 2021. 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 USA 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 zero 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 The Company used the market-value of Company common stock to determine the fair value of the performance-based restricted stock awarded in 2018 2019. 2021 2020. |
Use of Estimates, Policy [Policy Text Block] | Management Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP 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 provisions 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 |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Pronouncements In June 2016, 2016 13, 326 December 15, 2022. not 2016 13 In December 2019, 2019 12, 740 740, 2019 12 January 1, 2021, not |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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. Adler Hot Oil Service, LLC was dissolved during the second quarter of 2021. Heat Waves Water Management LLC Colorado 100% by Enservco Discontinued operations in 2019. Heat Waves Water Management LLC was dissolved during the second quarter of 2021. Dillco Fluid Service, Inc Kansas 100% by Enservco Discontinued operations in 2018. Dillco Fluid Service, Inc was dissolved during the second quarter of 2021. HE Services LLC Nevada 100% by Heat Waves No active business operations. Owned construction equipment used by Heat Waves. HE Services LLC was dissolved on December 23, 2020. |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 2021 December 31, 2020 Trucks and vehicles $ 57,076 $ 57,224 Other equipment 1,961 1,319 Buildings and improvements 3,203 3,176 Land 378 378 Total property and equipment 62,618 62,097 Accumulated depreciation (45,548 ) (41,780 ) Property and equipment, net $ 17,070 $ 20,317 |
Note 4 - Intangible Assets (Tab
Note 4 - Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | September 30 , 2021 December 31, 2020 Customer relationships $ 626 $ 626 Patents and trademarks 441 441 Total intangible assets 1,067 1,067 Accumulated amortization (613 ) (450 ) Net carrying value $ 454 $ 617 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2022 2023 2024 2025 2026 Customer relationships $ 125 $ 125 $ 10 $ - $ - Patents and trademarks 93 93 8 - - Total intangible asset amortization expense $ 218 $ 218 $ 18 $ - $ - |
Note 5 - Debt (Tables)
Note 5 - Debt (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30 , 2021 December 31, 2020 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% 3% 10 October 15, 2022 $ 14,792 $ 19,078 Paycheck Protection Loan. Interest is at 1% April 10, 2022 - 1,940 Subordinated Promissory Note with related party. Interest at 10 - 1,250 Real Estate Loan for a facility in North Dakota. Interest is at 5.75 5,255 126 167 Vehicle loans for three pickups. Interest at 8.59 3,966 - 31 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 - 14 Total long-term debt 14,918 22,480 Less debt discount - (70 ) Less current portion (2,057 ) (1,693 ) Long-term debt, net of debt discount and current portion $ 12,861 $ 20,717 |
Schedule of Maturities of Long-term Debt [Table Text Block] | For the twelve months ending September 30, 2022 $ 2,057 2023 12,853 2024 8 Total $ 14,918 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating Leases Finance Leases For the twelve months ending September 30, 2022 $ 859 $ 28 2023 637 14 2024 548 12 2025 352 1 2026 269 - Total future lease payments 2,665 55 Impact of discounting (259 ) (3 ) Discounted value of lease obligations $ 2,406 $ 52 |
Lease, Cost [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Operating lease cost: Current lease cost $ 24 $ 8 $ 57 $ 51 Long-term lease cost 256 256 768 835 Total operating lease cost $ 280 $ 264 $ 825 $ 886 Finance lease cost: Amortization of right-of-use assets $ 7 $ 25 $ 54 $ 145 Interest on lease liabilities 1 2 5 14 Total finance lease cost $ 8 $ 27 $ 59 $ 159 For the Nine Months Ended September 30, 2021 2020 Operating: Weighted-average lease term (years) 3.57 4.26 Weighted-average discount rate 6.09 % 6.08 % Finance: Weighted-average lease term (years) 2.36 2.26 Weighted-average discount rate 5.72 % 5.95 % |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Average Weighted Average Remaining Warrants Shares Exercise Price Contractual Life (Years) Outstanding as of December 31, 2020 1,043,667 $ 3.73 4.7 Issued 150,418 2.51 4.0 Expired (2,000 ) 10.50 - Outstanding as of September 30, 2021 1,192,085 $ 3.57 4.0 Exercisable as of September 30, 2021 1,041,667 $ 3.72 3.9 |
Note 9 - Stock Options and Re_2
Note 9 - Stock Options and Restricted Stock (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Outstanding as of December 31, 2020 11,569 $ 5.87 0.53 Forfeited or expired (8,635 ) 5.98 - Outstanding as of September 30, 2021 2,934 $ 5.55 0.35 Vested as of September 30, 2021 2,934 $ 5.55 0.35 Exercisable as of September 30, 2021 2,934 $ 5.55 0.35 |
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 as of December 31, 2020 24,393 $ 7.32 Granted 165,000 1.05 Vested (6,505 ) 7.94 Forfeited (1,667 ) 8.92 Restricted shares as of September 30, 2021 181,221 $ 1.58 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Stock options 2,934 98,823 4,201 106,805 Restricted stock 181,550 27,071 178,720 69,523 Warrants 1,192,085 119,754 1,170,204 69,214 Weighted average 1,376,569 245,648 1,353,125 245,542 |
Note 10 - Segment Reporting (Ta
Note 10 - Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Production Services Completion and Other Services Unallocated Total For the Three Months Ended September 30 , 2021: Revenues $ 2,483 $ 544 $ - $ 3,027 Cost of revenue 2,489 1,189 - 3,678 Segment loss $ (6 ) $ (645 ) $ - $ (651 ) Depreciation and amortization $ 639 $ 562 $ 101 $ 1,302 Capital expenditures $ 77 $ 68 $ 8 $ 153 Identifiable assets (1) $ 11,906 $ 10,460 $ 614 $ 22,980 For the Three Months Ended September 30, 2020: Revenues $ 1,363 $ 401 $ - $ 1,764 Cost of revenue 1,347 1,126 - $ 2,473 Segment profit (loss) $ 16 $ (725 ) $ - $ (709 ) Depreciation and amortization $ 496 $ 655 $ 120 $ 1,271 Capital expenditures $ 11 $ 28 $ - $ 39 Identifiable assets (1) $ 13,042 $ 13,444 $ 1,047 $ 27,533 Production Services Completion and Other Services Unallocated Total For the Nine Months Ended September 30, 2021: Revenues $ 6,556 $ 4,701 $ - $ 11,257 Cost of revenue 6,802 5,680 - 12,482 Segment loss $ (246 ) $ (979 ) $ - $ (1,225 ) Depreciation and amortization $ 1,739 $ 1,935 $ 301 $ 3,975 Capital expenditures $ 166 $ 174 $ 8 $ 348 Identifiable assets (1) $ 11,906 $ 10,460 $ 614 $ 22,980 For the Nine Months Ended September 30, 2020: Revenues $ 5,948 $ 7,343 $ - $ 13,291 Cost of revenue 6,655 7,613 - $ 14,268 Segment loss $ (707 ) $ (270 ) - $ (977 ) Depreciation and amortization $ 1,813 $ 1,869 $ 295 $ 3,977 Capital expenditures $ 170 $ 174 $ - $ 344 Identifiable assets (1) $ 13,042 $ 13,444 $ 1,047 $ 27,533 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | For the Three Months Ended September 30 , 2021 2020 Segment loss $ (651 ) $ (709 ) Sales, general, and administrative expenses (907 ) (1,049 ) Loss on disposal of equipment - (21 ) Depreciation and amortization (1,302 ) (1,271 ) Loss from operations $ (2,860 ) $ (3,050 ) For the Nine Months Ended September 30 , 2021 2020 Segment loss $ (1,225 ) $ (977 ) Sales, general, and administrative expenses (2,904 ) (4,058 ) Severance and transition costs - (139 ) Loss on disposal of equipment (70 ) (59 ) Depreciation and amortization (3,975 ) (3,977 ) Loss from operations $ (8,174 ) $ (9,210 ) |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | For the Three Months Ended September 30 , 2021 2020 BY GEOGRAPHY Production Services: Rocky Mountain Region (1) $ 676 $ 539 Central USA Region (2) 1,651 746 Eastern USA Region (3) 156 78 Total Production Services 2,483 1,363 Completion and Other Services: Rocky Mountain Region (1) 435 375 Central USA Region (2) 38 - Eastern USA Region (3) 71 26 Total Completion and Other Services 544 401 Total Revenues $ 3,027 $ 1,764 For the Nine Months Ended September 30 , 2021 2020 BY GEOGRAPHY Production Services: Rocky Mountain Region (1) $ 1,708 $ 2,080 Central USA Region (2) 4,304 3,562 Eastern USA Region (3) 544 306 Total Production Services 6,556 5,948 Completion and Other Services: Rocky Mountain Region (1) 3,142 6,092 Central USA Region (2) 38 108 Eastern USA Region (3) 1,521 1,143 Total Completion and Other Services 4,701 7,343 Total Revenues $ 11,257 $ 13,291 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation - Current Ownership Hierarchy (Details) | 9 Months Ended |
Sep. 30, 2021 | |
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 (Details Textual) - USD ($) | Apr. 26, 2021 | Sep. 23, 2020 | Aug. 10, 2017 | May 31, 2022 | Dec. 31, 2021 | Nov. 30, 2021 | Oct. 31, 2021 | May 31, 2022 | Mar. 31, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Nov. 12, 2021 |
Net Income (Loss) Attributable to Parent, Total | $ (177,000) | $ (1,606,000) | $ (2,173,000) | $ 8,405,000 | $ (4,357,000) | $ (2,837,000) | $ (3,956,000) | $ 1,211,000 | |||||||||||||
Assets, Current, Total | 7,306,000 | 7,306,000 | $ 4,880,000 | ||||||||||||||||||
Liabilities, Current, Total | 4,493,000 | 4,493,000 | 4,574,000 | ||||||||||||||||||
Working Capital | 2,800,000 | 2,800,000 | |||||||||||||||||||
Accounts Receivable, Allowance for Credit Loss, Current | 195,000 | 195,000 | $ 322,000 | ||||||||||||||||||
Accounts Receivable, Credit Loss Expense (Reversal) | (18,000) | 64,000 | (15,000) | 362,000 | |||||||||||||||||
Inventory Write-down | 0 | 0 | 0 | 0 | |||||||||||||||||
Interest Costs Capitalized | 0 | 0 | 0 | $ 0 | |||||||||||||||||
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | 0 | ||||||||||||||||||
Impairment of Long-Lived Assets to be Disposed of | 0 | $ 0 | 0 | ||||||||||||||||||
Goodwill and Intangible Asset Impairment, Total | 0 | ||||||||||||||||||||
Employee Retention Tax Credit, Maximum Amount Per Employee Per Quarter | 7,000 | ||||||||||||||||||||
Employee Retention Tax Credit | $ 612,000 | $ 2.1 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Outstanding, Number (in shares) | 1,376,239 | 1,166,733 | 1,376,239 | 1,166,733 | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Outstanding, Aggregate Intrinsic Value | $ 0 | $ 0 | |||||||||||||||||||
Payments of Dividends, Total | $ 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 | ||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||
Property, Plant and Equipment, Useful Life (Year) | 30 years | ||||||||||||||||||||
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 | ||||||||||||||||||||
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) | 533,334 | ||||||||||||||||||||
Revolving Credit Facility [Member] | |||||||||||||||||||||
Debt Instrument, Term (Year) | 10 years | 10 years | |||||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | |||||||||||||||||||||
Debt Instrument, Covenant, Percentage of Projected Gross Revenue Achieved | 70.00% | ||||||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Forecast [Member] | |||||||||||||||||||||
Debt Instrument, Covenant, Percentage of Projected Gross Revenue Achieved | 80.00% | 80.00% | 80.00% | 80.00% | 70.00% | ||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Debt Instrument, Non-compliance, Projected Gross Revenue, Amount Lower Than Requirement | $ 172,000 | ||||||||||||||||||||
Debt Instrument, Fee Amount | $ 70,000 | ||||||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | |||||||||||||||||||||
Debt Instrument, Term (Year) | 10 years | 3 years | |||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | $ 37,000,000 | |||||||||||||||||||
Debt Instrument, Covenant, Percentage of Projected Gross Revenue Achieved | 70.00% | ||||||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | Forecast [Member] | |||||||||||||||||||||
Debt Instrument, Covenant, Percentage of Projected Gross Revenue Achieved | 80.00% | 80.00% | 80.00% | 80.00% | 70.00% | ||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Debt Instrument, Non-compliance, Projected Gross Revenue, Amount Lower Than Requirement | $ 172,000 | ||||||||||||||||||||
Debt Instrument, Fee Amount | $ 70,000 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Depreciation, Total | $ 1.2 | $ 1.2 | $ 3.8 | $ 3.7 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Property and equipment, gross | $ 62,618 | $ 62,097 |
Accumulated depreciation | (45,548) | (41,780) |
Property and equipment, net | 17,070 | 20,317 |
Vehicles [Member] | ||
Property and equipment, gross | 57,076 | 57,224 |
Property, Plant and Equipment, Other Types [Member] | ||
Property and equipment, gross | 1,961 | 1,319 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | 3,203 | 3,176 |
Land [Member] | ||
Property and equipment, gross | $ 378 | $ 378 |
Note 4 - Intangible Assets (Det
Note 4 - Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | |||
Amortization of Intangible Assets, Total | $ 54,000 | $ 54,000 | $ 163,000 | $ 156,000 |
Note 4 - Intangible Assets - Co
Note 4 - Intangible Assets - Components of Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Intangible assets, gross | $ 1,067 | $ 1,067 |
Accumulated amortization | (613) | (450) |
Net carrying value | 454 | 617 |
Customer Relationships [Member] | ||
Intangible assets, gross | 626 | 626 |
Intellectual Property [Member] | ||
Intangible assets, gross | $ 441 | $ 441 |
Note 4 - Intangible Assets - Ex
Note 4 - Intangible Assets - Expected Future Amortization Expense (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Expected amortization expense, 2022 | $ 218 |
Expected amortization expense, 2023 | 218 |
Expected amortization expense, 2024 | 18 |
Expected amortization expense, 2025 | 0 |
Expected amortization expense, 2026 | 0 |
Customer Relationships [Member] | |
Expected amortization expense, 2022 | 125 |
Expected amortization expense, 2023 | 125 |
Expected amortization expense, 2024 | 10 |
Expected amortization expense, 2025 | 0 |
Expected amortization expense, 2026 | 0 |
Patents and Trademarks [Member] | |
Expected amortization expense, 2022 | 93 |
Expected amortization expense, 2023 | 93 |
Expected amortization expense, 2024 | 8 |
Expected amortization expense, 2025 | 0 |
Expected amortization expense, 2026 | $ 0 |
Note 5 - Debt (Details Textual)
Note 5 - Debt (Details Textual) - USD ($) | Jul. 08, 2021 | Apr. 26, 2021 | Feb. 11, 2021 | Sep. 23, 2020 | Apr. 10, 2020 | Aug. 10, 2017 | May 31, 2022 | Dec. 31, 2021 | Nov. 30, 2021 | Oct. 31, 2021 | May 31, 2022 | Mar. 31, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Nov. 12, 2021 |
Repayments of Long-term Debt, Total | $ 86,000 | $ 109,000 | ||||||||||||||||||
Long-term Debt, Total | $ 14,918,000 | $ 14,918,000 | $ 22,480,000 | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.57 | $ 3.57 | $ 3.73 | |||||||||||||||||
Gains (Losses) on Restructuring of Debt | $ 0 | $ 11,916,000 | $ 0 | 11,916,000 | ||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | 1,964,000 | 0 | ||||||||||||||||||
Interest Expense [Member] | ||||||||||||||||||||
Amortization of Debt Issuance Costs | 12,000 | 82,000 | ||||||||||||||||||
Other Assets [Member] | ||||||||||||||||||||
Unamortized Debt Issuance Expense | $ 0 | $ 0 | $ 0 | |||||||||||||||||
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 | |||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 2.0775 | |||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,100,000 | |||||||||||||||||||
Revolving Credit Facility [Member] | ||||||||||||||||||||
Debt Instrument, Term (Year) | 10 years | 10 years | ||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | 8.25% | 8.25% | |||||||||||||||||
Debt Instrument, Interest Rate, Calculated Monthly and Paid in Arrears | 5.25% | 5.25% | 5.25% | |||||||||||||||||
Debt Instrument, Interest Rate, Accrued on Principal Balance | 3.00% | 3.00% | 3.00% | |||||||||||||||||
Long-term Debt, Total | $ 14,792,000 | $ 14,792,000 | $ 19,078,000 | |||||||||||||||||
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 | 1,200,000 | ||||||||||||||||||
Repayments of Long-term Debt, Total | $ 3,000,000 | |||||||||||||||||||
Long-term Debt, Total | $ 14,000,000 | $ 14,000,000 | ||||||||||||||||||
Debt, Weighted Average Interest Rate | 8.25% | 8.25% | ||||||||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||
Long-term Debt, Gross | 14,800,000 | 14,800,000 | ||||||||||||||||||
Interest Payable | $ 792,000 | $ 792,000 | ||||||||||||||||||
Gains (Losses) on Restructuring of Debt | $ 11,900,000 | |||||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Forecast [Member] | ||||||||||||||||||||
Debt Instrument, Covenant, Percentage of Projected Gross Revenue Achieved | 80.00% | 80.00% | 80.00% | 80.00% | 70.00% | |||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Subsequent Event [Member] | ||||||||||||||||||||
Debt Instrument, Non-compliance, Projected Gross Revenue, Amount Lower Than Requirement | $ 172,000 | |||||||||||||||||||
Debt Instrument, Fee Amount | $ 70,000 | |||||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Equipment Term Loan [Member] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 17,000,000 | |||||||||||||||||||
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 | ||||||||||||||||||
Debt Instrument, Term (Year) | 10 years | 3 years | ||||||||||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | |||||||||||||||||||
Debt Instrument, Covenant, Percentage of Projected Gross Revenue Achieved | 70.00% | |||||||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | Forecast [Member] | ||||||||||||||||||||
Debt Instrument, Covenant, Percentage of Projected Gross Revenue Achieved | 80.00% | 80.00% | 80.00% | 80.00% | 70.00% | |||||||||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | ||||||||||||||||||||
Debt Instrument, Non-compliance, Projected Gross Revenue, Amount Lower Than Requirement | $ 172,000 | |||||||||||||||||||
Debt Instrument, Fee Amount | $ 70,000 | |||||||||||||||||||
Paycheck Protection Program CARES Act [Member] | ||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | 1.00% | 1.00% | |||||||||||||||||
Long-term Debt, Total | $ 0 | $ 0 | $ 1,940,000 | |||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | 0 | $ 1,940,000 | ||||||||||||||||||
Paycheck Protection Program CARES Act [Member] | East West Bank [Member] | ||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 1,939,900 | |||||||||||||||||||
Debt Instrument, Decrease, Forgiveness | $ 1,900,000 | |||||||||||||||||||
Debt Instrument, Decrease, Forgiveness of Accrued Interest | $ 24,000 | |||||||||||||||||||
Paycheck Protection Program CARES Act [Member] | East West Bank [Member] | Other Income (Expense) [Member] | ||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 2,000,000 | $ 2,000,000 |
Note 5 - Debt - Summary of Long
Note 5 - Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Long-term debt | $ 14,918 | $ 22,480 |
Less debt discount | 0 | (70) |
Less current portion | (2,057) | (1,693) |
Long-term debt, net of debt discount and current portion | 12,861 | 20,717 |
Subordinated Promissory Note 1 [Member] | ||
Long-term debt | 0 | 1,250 |
Real Estate Loan 1 [Member] | ||
Long-term debt | 126 | 167 |
Vehicle Loans for Trucks [Member] | ||
Long-term debt | 0 | 31 |
Note Payable To Seller Of Heat Waves [Member] | ||
Long-term debt | 0 | 14 |
Paycheck Protection Program CARES Act [Member] | ||
Long-term debt | 0 | 1,940 |
Revolving Credit Facility [Member] | ||
Long-term debt | $ 14,792 | $ 19,078 |
Note 5 - Debt - Summary of Lo_2
Note 5 - Debt - Summary of Long-term Debt (Details) (Parentheticals) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Subordinated Promissory Note 1 [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |
Real Estate Loan 1 [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% |
Periodic principal and interest payment | $ 5,255 | $ 5,255 |
Vehicle Loans for Trucks [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 8.59% | |
Periodic principal and interest payment | $ 3,966 | |
Note Payable To Seller Of Heat Waves [Member] | ||
Periodic principal and interest payment | $ 36,000 | |
Paycheck Protection Program CARES Act [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | 1.00% |
Maturity date | Apr. 10, 2022 | Apr. 10, 2022 |
Revolving Credit Facility [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | 8.25% |
Interest rate, payable monthly | 5.25% | 5.25% |
Interest rate, accrued | 3.00% | 3.00% |
Amortization period (Year) | 10 years | 10 years |
Maturity date | Oct. 15, 2022 | Oct. 15, 2022 |
Note 5 - Debt - Summary of Matu
Note 5 - Debt - Summary of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
2022 | $ 2,057 | |
2023 | 12,853 | |
2024 | 8 | |
Total | $ 14,918 | $ 22,480 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | 21.00% |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount, Total | $ 0 | $ 15,000 |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies (Details Textual) - USD ($) | Nov. 08, 2021 | Jun. 30, 2015 | Sep. 30, 2021 | Dec. 31, 2020 |
Self-insured Amount per Individual Claim | $ 50,000 | |||
Self-insured, Maximum Coverage Policy | $ 1,800,000 | |||
Self Insurance Reserve | $ 95,000 | $ 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 | |||
Amanda Mordica vs. Enservco Corporation, Heat Waves Hot Oil Service, LLC, and Two Former Employees [Member] | Subsequent Event [Member] | ||||
Loss Contingency, Damages Sought, Value | $ 1,000,000 | |||
Other Noncurrent Assets [Member] | ||||
Worker's Compensation, Prepaid Amount | $ 189,000 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Future Minimum Lease Commitments (Details) $ in Thousands | Sep. 30, 2021USD ($) |
2022, operating leases | $ 859 |
2022, finance leases | 28 |
2023, operating leases | 637 |
2023, finance leases | 14 |
2024, operating leases | 548 |
2024, finance leases | 12 |
2025, operating leases | 352 |
2025, finance leases | 1 |
2026, operating leases | 269 |
2026, finance leases | 0 |
Total future lease payments | 2,665 |
Total future lease payments | 55 |
Impact of discounting, operating leases | (259) |
Impact of discounting, finance leases | (3) |
Discounted value of lease obligations, operating leases | 2,406 |
Discounted value of lease obligations, finance leases | $ 52 |
Note 7 - Commitments and Cont_5
Note 7 - Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Current lease cost | $ 24 | $ 8 | $ 57 | $ 51 |
Long-term lease cost | 256 | 256 | 768 | 835 |
Total operating lease cost | 280 | 264 | 825 | 886 |
Amortization of right-of-use assets | 7 | 25 | 54 | 145 |
Interest on lease liabilities | 1 | 2 | 5 | 14 |
Total finance lease cost | $ 8 | $ 27 | $ 59 | $ 159 |
Weighted-average lease term (years), operating (Year) | 3 years 6 months 25 days | 4 years 3 months 3 days | 3 years 6 months 25 days | 4 years 3 months 3 days |
Weighted-average discount rate, operating | 6.09% | 6.08% | 6.09% | 6.08% |
Weighted-average lease term (years), financing (Year) | 2 years 4 months 9 days | 2 years 3 months 3 days | 2 years 4 months 9 days | 2 years 3 months 3 days |
Weighted-average discount rate, financing | 5.72% | 5.95% | 5.72% | 5.95% |
Note 8 - Stockholders' Equity_2
Note 8 - Stockholders' Equity (Details Textual) - USD ($) | Feb. 11, 2021 | Sep. 23, 2020 | Aug. 13, 2020 | Nov. 11, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 |
Debt Conversion, Accrued Interest, Amount | $ 0 | $ 219,000 | |||||
Gain (Loss) on Extinguishment of Debt, Total | $ 1,964,000 | $ 0 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.57 | $ 3.73 | |||||
Class of Warrant or Right, Issued During Period (in shares) | 150,418 | ||||||
Warrant Issued in connection with Conversion of Subordinated Debt [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 150,418 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.507 | ||||||
Class of Warrant or Right, Grant Date Fair Value (in dollars per share) | $ 2.02 | ||||||
Class of Warrant or Right, Period Following Issuance at which Warrants are Exercisable (Year) | 1 year | ||||||
Warrants and Rights Outstanding | $ 304,000 | ||||||
Warrant In Connection With Amended Subordinated Loan [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 41,667 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3 | ||||||
Class of Warrant or Right, Grants in Period, Grant Date Fair Value (in dollars per share) | $ 2.40 | ||||||
Class of Warrant or Right, Issued During Period (in shares) | 1 | ||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||
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) | 1,000,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 3.75 | ||||||
Class of Warrant or Right, Period Following Issuance at which Warrants are Exercisable (Year) | 1 year | ||||||
Warrants and Rights Outstanding | $ 1,400,000 | ||||||
Class of Warrant or Right, Grants in Period, Grant Date Fair Value (in dollars per share) | $ 1.42 | ||||||
Class of Warrant or Right, Issued During Period (in shares) | 1 | ||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||
Warrants Issued in Connection With the Conversion of Subordinated Loan Agreement to Common Stock [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 150,418 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.507 | ||||||
Class of Warrant or Right, Period Following Issuance at which Warrants are Exercisable (Year) | 1 year | ||||||
Class of Warrant or Right, Grants in Period, Grant Date Fair Value (in dollars per share) | $ 2.02 | ||||||
Class of Warrant or Right, Issued During Period (in shares) | 1 | ||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||
Subordinated Debt [Member] | |||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 552,000 | ||||||
Conversion from Subordinated Promissory Note to Common Stock [Member] | |||||||
Debt Conversion, Original Debt, Percentage of Total Debt | 50.00% | 50.00% | |||||
Debt Conversion, Original Debt, Amount | $ 1,250,000 | $ 1,250,000 | |||||
Debt Conversion, Accrued Interest, Amount | $ 62,000 | $ 265,000 | |||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 601,674 | 403,602 | |||||
Debt Conversion, Converted Instrument, Amount | $ 963,000 |
Note 8 - Stockholders' Equity -
Note 8 - Stockholders' Equity - Summary of Warrant Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Outstanding (in shares) | 1,043,667 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.73 | |
Outstanding, weighted average remaining contractual life (Year) | 4 years | 4 years 8 months 12 days |
Issued (in shares) | 150,418 | |
Issued, weighted average exercise price (in dollars per share) | $ 2.51 | |
Issued, weighted average remaining contractual life (Year) | 4 years | |
Expired (in shares) | (2,000) | |
Expired, weighted average exercise price (in dollars per share) | $ 10.50 | |
Outstanding (in shares) | 1,192,085 | 1,043,667 |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.57 | $ 3.73 |
Exercisable (in shares) | 1,041,667 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 3.72 | |
Exercisable, weighted average remaining contractual life (Year) | 3 years 10 months 24 days |
Note 9 - Stock Options and Re_3
Note 9 - Stock Options and Restricted Stock (Details Textual) - USD ($) | Jan. 04, 2021 | Jan. 01, 2016 | Jul. 27, 2010 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Jul. 18, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 2,934 | 2,934 | 11,569 | ||||||
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, Outstanding, Intrinsic Value | $ 0 | $ 0 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | |||||||
Share-based Payment Arrangement, Nonemployee [Member] | |||||||||
Stock Issued During Period, Value, Issued for Services | $ 311,000 | ||||||||
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 221,000 | ||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 118,184 | ||||||||
Restricted Stock [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 181,221 | 181,221 | 24,393 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 165,000 | ||||||||
Restricted Stock [Member] | Share-based Payment Arrangement, Nonemployee [Member] | |||||||||
Share-based Payment Arrangement, Expense | $ 68,000 | ||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 22,000 | $ 22,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 48,129 | ||||||||
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member] | |||||||||
Share-based Payment Arrangement, Expense | 21,000 | $ 16,000 | $ 70,000 | $ 374,000 | |||||
Share-based Payment Arrangement, Option [Member] | |||||||||
Share-based Payment Arrangement, Expense | 0 | $ 0 | 0 | $ 3,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 | $ 0 | |||||||
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 | 0 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 2,541,809 | ||||||||
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) | 692,782 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 2,934 | 2,934 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 533,334 | ||||||||
The 2016 Plan [Member] | Restricted Stock [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 181,221 | 181,221 |
Note 9 - Stock Options and Re_4
Note 9 - Stock Options and Restricted Stock - Summary of Stock Option Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Outstanding (in shares) | 11,569 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 5.87 | |
Outstanding, weighted average remaining contractual life (Year) | 4 months 6 days | 6 months 10 days |
Forfeited or expired (in shares) | (8,635) | |
Forfeited or Expired, weighted average exercise price (in dollars per share) | $ 5.98 | |
Outstanding (in shares) | 2,934 | 11,569 |
Outstanding, weighted average exercise price (in dollars per share) | $ 5.55 | $ 5.87 |
Vested (in shares) | 2,934 | |
Vested, weighted average exercise price (in dollars per share) | $ 5.55 | |
Vested, weighted average remaining contractual life (Year) | 4 months 6 days | |
Exercisable (in shares) | 2,934 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 5.55 | |
Exercisable, weighted average remaining contractual life (Year) | 4 months 6 days |
Note 9 - Stock Options and Re_5
Note 9 - Stock Options and Restricted Stock - Summary of Restricted Stock Options (Details) - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2021$ / sharesshares | |
Balance, Restricted shares (in shares) | shares | 24,393 |
Balance, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 7.32 |
Granted, Restricted shares (in shares) | shares | 165,000 |
Granted, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.05 |
Vested, Restricted shares (in shares) | shares | (6,505) |
Vested, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 7.94 |
Forfeited, Restricted shares (in shares) | shares | (1,667) |
Forfeited, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 8.92 |
Balance, Restricted shares (in shares) | shares | 181,221 |
Balance, Restricted shares, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.58 |
Note 9 - Stock Options and Re_6
Note 9 - Stock Options and Restricted Stock - Potentially Dilutive Instruments (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Potentially dilutive instruments (in shares) | 1,376,569 | 245,648 | 1,353,125 | 245,542 |
Share-based Payment Arrangement, Option [Member] | ||||
Potentially dilutive instruments (in shares) | 2,934 | 98,823 | 4,201 | 106,805 |
Restricted Stock [Member] | ||||
Potentially dilutive instruments (in shares) | 181,550 | 27,071 | 178,720 | 69,523 |
Warrant [Member] | ||||
Potentially dilutive instruments (in shares) | 1,192,085 | 119,754 | 1,170,204 | 69,214 |
Note 10 - Segment Reporting - R
Note 10 - Segment Reporting - Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Revenues | $ 3,027 | $ 1,764 | $ 11,257 | $ 13,291 | |
Cost of revenue | 3,678 | 2,473 | 12,482 | 14,268 | |
Segment profit (loss) | (651) | (709) | (1,225) | (977) | |
Depreciation and amortization | 1,302 | 1,271 | 3,975 | 3,977 | |
Capital expenditures | 153 | 39 | 348 | 344 | |
Identifiable assets | [1] | 22,980 | 27,533 | 22,980 | 27,533 |
Production Services [Member] | |||||
Revenues | 2,483 | 1,363 | 6,556 | 5,948 | |
Cost of revenue | 2,489 | 1,347 | 6,802 | 6,655 | |
Segment profit (loss) | (6) | 16 | (246) | (707) | |
Depreciation and amortization | 639 | 496 | 1,739 | 1,813 | |
Capital expenditures | 77 | 11 | 166 | 170 | |
Identifiable assets | [1] | 11,906 | 13,042 | 11,906 | 13,042 |
Completion Services [Member] | |||||
Revenues | 544 | 401 | 4,701 | 7,343 | |
Cost of revenue | 1,189 | 1,126 | 5,680 | 7,613 | |
Segment profit (loss) | (645) | (725) | (979) | (270) | |
Depreciation and amortization | 562 | 655 | 1,935 | 1,869 | |
Capital expenditures | 68 | 28 | 174 | 174 | |
Identifiable assets | [1] | 10,460 | 13,444 | 10,460 | 13,444 |
Unallocated and Other Segments [Member] | |||||
Revenues | 0 | 0 | 0 | 0 | |
Cost of revenue | 0 | 0 | 0 | 0 | |
Segment profit (loss) | 0 | 0 | 0 | 0 | |
Depreciation and amortization | 101 | 120 | 301 | 295 | |
Capital expenditures | 8 | 0 | 8 | 0 | |
Identifiable assets | [1] | $ 614 | $ 1,047 | $ 614 | $ 1,047 |
[1] | Identifiable assets is calculated by summing the balances of accounts receivable, net; inventories; property and equipment, net; net right-of-use lease assets; assets held for sale; and other assets. |
Note 10 - Segment Reporting - I
Note 10 - Segment Reporting - Income From Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Segment loss | $ (651) | $ (709) | $ (1,225) | $ (977) |
Sales, general, and administrative expenses | (907) | (1,049) | (2,904) | (4,058) |
Loss on disposal of equipment | 0 | (21) | (70) | (59) |
Depreciation and amortization | (1,302) | (1,271) | (3,975) | (3,977) |
Loss from operations | (2,860) | (3,050) | (8,174) | (9,210) |
Severance and transition costs | $ 0 | $ 0 | $ 0 | $ (139) |
Note 10 - Segment Reporting -_2
Note 10 - Segment Reporting - Revenues by Geography (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Revenue | $ 3,027 | $ 1,764 | $ 11,257 | $ 13,291 | |
Production Services [Member] | |||||
Revenue | 2,483 | 1,363 | 6,556 | 5,948 | |
Completion Services [Member] | |||||
Revenue | 544 | 401 | 4,701 | 7,343 | |
Rocky Mountain Region [Member] | Production Services [Member] | |||||
Revenue | [1] | 676 | 539 | 1,708 | 2,080 |
Rocky Mountain Region [Member] | Completion Services [Member] | |||||
Revenue | [1] | 435 | 375 | 3,142 | 6,092 |
Central USA Region [Member] | Production Services [Member] | |||||
Revenue | [2] | 1,651 | 746 | 4,304 | 3,562 |
Central USA Region [Member] | Completion Services [Member] | |||||
Revenue | [2] | 38 | 0 | 38 | 108 |
Eastern USA Region [Member] | Production Services [Member] | |||||
Revenue | [3] | 156 | 78 | 544 | 306 |
Eastern USA Region [Member] | Completion Services [Member] | |||||
Revenue | [3] | $ 71 | $ 26 | $ 1,521 | $ 1,143 |
[1] | Includes the DJ 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 Eagle Ford Shale in Southern Texas and the East Texas Oil Field beginning during the second quarter of 2021. | ||||
[3] | Consists of the southern region of the Marcellus Shale formation (southwestern Pennsylvania and northern West Virginia) and the Utica Shale formation (eastern Ohio). |