| SCHEDULE OF SEGMENT REPORTING INFORMATION |
The table below shows certain financial information
of our reporting segments as of and for the years ended December 31, 2023, and 2022 (in thousands).
Segment Reporting as of and for the year ended December 31, 2023
SCHEDULE
OF SEGMENT REPORTING INFORMATION
| |
|
Treatment |
|
|
Services |
|
|
Segments
Total |
|
|
Corporate
(2) |
|
|
Consolidated
Total |
|
| |
|
Treatment |
|
|
Services |
|
|
Segments Total |
|
|
Corporate
(2) |
|
|
Consolidated Total |
|
| Revenue from external customers |
|
$ |
43,477 |
|
|
$ |
46,258 |
|
|
$ |
89,735 |
(3)(4) |
|
$ |
— |
|
|
$ |
89,735 |
|
| Intercompany revenues |
|
|
290 |
|
|
|
139 |
|
|
|
429 |
|
|
|
— |
|
|
|
— |
|
| Gross profit |
|
|
6,876 |
|
|
|
9,493 |
|
|
|
16,369 |
|
|
|
— |
|
|
|
16,369 |
|
| Research and development |
|
|
418 |
|
|
|
38 |
|
|
|
456 |
|
|
|
105 |
|
|
|
561 |
|
| Interest income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
606 |
|
|
|
606 |
|
| Interest expense |
|
|
(91 |
) |
|
|
(27 |
) |
|
|
(118 |
) |
|
|
(205 |
) |
|
|
(323 |
) |
| Interest expense-financing fees |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(93 |
) |
|
|
(93 |
) |
| Depreciation and amortization |
|
|
2,112 |
|
|
|
397 |
|
|
|
2,509 |
|
|
|
59 |
|
|
|
2,568 |
|
| Income tax (benefit) expense |
|
|
(121 |
) |
|
|
138 |
|
|
|
17 |
|
|
|
— |
|
|
|
17 |
|
| Segment income (loss) |
|
|
2,228 |
|
|
|
5,716 |
|
|
|
7,944 |
|
|
|
(7,026 |
) |
|
|
918 |
|
| Segment assets (1) |
|
|
40,470 |
|
|
|
10,239 |
|
|
|
50,709 |
|
|
|
28,040 |
(5) |
|
|
78,749 |
(9) |
| Expenditures for segment assets (net) |
|
|
1,696 |
|
|
|
10 |
|
|
|
1,706 |
|
|
|
8 |
|
|
|
1,714 |
(7) |
| Total debt |
|
|
372 |
|
|
|
— |
|
|
|
372 |
|
|
|
2,376 |
|
|
|
2,748 |
(6) |
Segment
Reporting as of and for the year ended December 31, 2022
| |
|
Treatment |
|
|
Services |
|
|
Segments
Total |
|
|
Corporate
(2) |
|
|
Consolidated
Total |
|
| |
|
Treatment |
|
|
Services |
|
|
Segments Total |
|
|
Corporate (2) |
|
|
Consolidated Total |
|
| Revenue from external customers |
|
$ |
33,358 |
|
|
$ |
37,241 |
|
|
$ |
70,599 |
(3)(4) |
|
$ |
— |
|
|
$ |
70,599 |
|
| Intercompany revenues |
|
|
56 |
|
|
|
213 |
|
|
|
269 |
|
|
|
— |
|
|
|
— |
|
| Gross profit |
|
|
5,243 |
|
|
|
4,366 |
|
|
|
9,609 |
|
|
|
— |
|
|
|
9,609 |
|
| Research and development |
|
|
246 |
|
|
|
23 |
|
|
|
269 |
|
|
|
67 |
|
|
|
336 |
|
| Interest income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
99 |
|
|
|
99 |
|
| Interest expense |
|
|
(74 |
) |
|
|
(3 |
) |
|
|
(77 |
) |
|
|
(98 |
) |
|
|
(175 |
) |
| Interest expense-financing fees |
|
|
— |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(60 |
) |
|
|
(61 |
) |
| Depreciation and amortization |
|
|
1,710 |
|
|
|
334 |
|
|
|
2,044 |
|
|
|
65 |
|
|
|
2,109 |
|
| Segment income (loss) before income taxes |
|
|
|
|
|
|
|
|
|
|
|
) |
|
|
)(8)
|
| Income tax benefit |
|
|
(236 |
) |
|
|
(133 |
) |
|
|
(369 |
) |
|
|
(9 |
) |
|
|
(378 |
) |
| Segment income (loss) |
|
|
1,767 |
|
|
|
1,698 |
|
|
|
3,465 |
|
|
|
(6,676 |
) |
|
|
(3,211 |
) |
| Segment assets (1) |
|
|
37,918 |
|
|
|
8,473 |
|
|
|
46,391 |
|
|
|
24,507 |
(5) |
|
|
70,898 |
(9) |
| Expenditures for segment assets (net) |
|
|
866 |
|
|
|
157 |
|
|
|
1,023 |
|
|
|
— |
|
|
|
1,023 |
(7) |
| Total debt |
|
|
482 |
|
|
|
5 |
|
|
|
487 |
|
|
|
552 |
|
|
|
1,039 |
(6) |
| (1) |
Segment assets have been adjusted for intercompany accounts to reflect actual assets for each segment. |
| |
|
| (2) |
Amounts reflect the activity for corporate headquarters not included in the segment information. |
| |
|
| (3) |
The Company performed services relating to waste generated by government clients (domestic), either directly as a prime contractor or indirectly for others as a subcontractor to government entities, representing approximately $70,642,000 or 78.7% of total revenue for 2023 and $59,658,000 or 84.5% of total revenue for 2022. The following reflects such revenue generated by our two segments: |
| (4) |
The following table reflects revenue based on customer location: |
| (5) |
Amount includes assets from our discontinued operations of $94,000 and $96,000 as of December 31, 2023, and 2022,
respectively. |
| |
|
| (6) |
Net of debt issuance costs of ($170,000) and ($88,000) for 2023 and 2022, respectively (see “Note 9 –
Long-Term Debt” for additional information). |
| |
|
| (7) |
Net of financed amount of $784,000 and $114,000 for the year ended December 31, 2023, and 2022, respectively. |
| |
|
| (8) |
Includes approximately $1,975,000 recorded as other income under the ERC program under the CARES Act, as amended
(see “Note 10 –Employee Retention Credit (“ERC”)” for a discussion of this refund amount). |
| |
|
| (9) |
Includes long-lived assets for continued operations as follows: |
|