Quarterly report pursuant to Section 13 or 15(d)

24. Segment Information

v3.10.0.1
24. Segment Information
 6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Segment Information

Note 24:          Segment Information

 

We operate within targeted markets through two reportable segments: recycling and technology. The recycling segment is composed of income generated by fees charged and costs incurred for collecting, recycling and installing appliances for utilities and other customers and includes byproduct revenue, which are primarily generated through the recycling of appliances. We have included the results from consolidating AAP in our recycling segment through August 15, 2017. The technology segment is composed of all revenue and costs incurred or associated with GeoTraq. At this time, GeoTraq is in the development stage and expects to go to market with products and services in the location-based services market. The nature of products, services and customers for each segment varies significantly. As such, the segments are managed separately. Our Chief Executive Officer has been identified as the Chief Operating Decision Maker (“CODM”). The CODM evaluates performance and allocates resources based on revenues and income from operations of each segment. Income from operations represents revenues less cost of revenues and operating expenses, including certain allocated selling, general and administrative costs. There are no inter-segment sales or transfers.

 

The following tables present our segment information for periods indicated:

 

                         
    Thirteen Weeks Ended     Twenty Six Weeks Ended  
    June 30, 2018     July 1, 2017     June 30, 2018     July 1, 2017  
                         
 Revenues                                
 Recycling   $ 8,373     $ 10,744     $ 17,286     $ 18,194  
 Technology     –       –       –       –  
  Total Revenues   $ 8,373     $ 10,744     $ 17,286     $ 18,194  
                                 
 Gross profit                                
 Recycling   $ 2,150     $ 3,989     $ 4,562     $ 5,805  
 Technology     –       –       –       –  
 Total Gross profit   $ 2,150     $ 3,989     $ 4,562     $ 5,805  
                                 
 Operating income (loss)                                
 Recycling   $ (390 )   $ 1,577     $ (679 )   $ (54 )
 Technology     (1,212 )     –       (2,485 )     –  
 Total Operating income   $ (1,602 )   $ 1,577     $ (3,164 )   $ (54 )
                                 
 Depreciation and amortization                                
 Recycling   $ 59     $ 247     $ 120     $ 504  
 Technology     933       –       1,866       –  
 Total Depreciation and amortization   $ 992     $ 247     $ 1,986     $ 504  
                                 
 Interest expense                                
 Recycling   $ 38     $ 125     $ 629     $ 422  
 Technology     –       –       –       –  
 Total Interest expense   $ 38     $ 125     $ 629     $ 422  
                                 
 Net income (loss) before provision for income taxes                                
 Recycling   $ (476 )   $ 1,276     $ (1,253 )   $ 4,516  
 Technology     (1,212 )     –       (2,485 )     –  
 Total Net income (loss) before provision for income taxes   $ (1,688 )   $ 1,276     $ (3,738 )   $ 4,516  

 

    As of     As of  
    June 30,     December 30,  
    2018     2017  
Assets            
Recycling   $ 13,451     $ 21,745  
Technology     22,988       25,146  
Total Assets   $ 36,439     $ 46,891  
                 
Goodwill and intangible assets                
Recycling   $ 19     $ 19  
Technology     22,833       24,699  
Total Goodwill and intangible assets   $ 22,852     $ 24,718