Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.3
Segment Information
9 Months Ended
Sep. 28, 2019
Segment Reporting [Abstract]  
Segment Information

Note 22: Segment Information

We operate within targeted markets through three reportable segments for continuing operations: biotechnology, recycling and technology. The biotechnology segment started in September 2019 and is focused on development of new and innovative solutions for ending the opioid epidemic ranging from digital technologies to educational advocacy. Because the biotechnology segment did not have revenues or expenses during the month of September 2019 it has been excluded from the tables below. The recycling segment includes all fees charged and costs incurred for collecting, recycling and installing appliances for utilities and other customers. The recycling segment also includes byproduct revenue, which is primarily generated through the recycling of appliances. The nature of products, services and customers for both segments 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 sales and income from operations of each segment. Income (loss) from operations represents revenues less cost of revenues and operating expenses, including certain allocated selling, general and administrative costs. There are no intersegment sales or transfers.

The following tables present our segment information for the 13 and 39 weeks ended September 28, 2019 and September 29, 2018:

 

 

 

Thirteen Weeks Ended

 

 

Thirty Nine Weeks Ended

 

 

 

September 28, 2019

 

 

September 29, 2018

 

 

September 28, 2019

 

 

September 29, 2018

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

9,790

 

 

$

10,267

 

 

$

23,684

 

 

$

27,553

 

Technology

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenues

 

$

9,790

 

 

$

10,267

 

 

$

23,684

 

 

$

27,553

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

2,564

 

 

$

3,393

 

 

$

5,581

 

 

$

7,955

 

Technology

 

 

 

 

 

 

 

 

 

 

 

 

Total Gross profit

 

$

2,564

 

 

$

3,393

 

 

$

5,581

 

 

$

7,955

 

Operating loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

(1,319

)

 

$

(469

)

 

$

(4,200

)

 

$

(1,209

)

Technology

 

 

(1,302

)

 

 

(1,202

)

 

 

(3,685

)

 

 

(3,627

)

Total Operating loss

 

$

(2,621

)

 

$

(1,671

)

 

$

(7,885

)

 

$

(4,836

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

139

 

 

$

76

 

 

$

238

 

 

$

196

 

Technology

 

 

937

 

 

 

933

 

 

 

2,808

 

 

 

2,797

 

Total Depreciation and amortization

 

$

1,076

 

 

$

1,009

 

 

$

3,046

 

 

$

2,993

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

75

 

 

$

45

 

 

$

81

 

 

$

675

 

Technology

 

 

 

 

 

 

 

 

 

 

 

 

Total Interest expense, net

 

$

75

 

 

$

45

 

 

$

81

 

 

$

675

 

Net loss before benefit from income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recycling

 

$

(1,388

)

 

$

(263

)

 

$

(3,497

)

 

$

(1,543

)

Technology

 

 

(1,302

)

 

 

(1,202

)

 

 

(3,685

)

 

 

(3,627

)

Total Net loss before benefit from income taxes

 

$

(2,690

)

 

$

(1,465

)

 

$

(7,182

)

 

$

(5,170

)

 

 

 

As of

September 28,

2019

 

 

As of

December 29,

2018

 

Assets

 

 

 

 

 

 

 

 

Recycling

 

$

15,152

 

 

$

13,985

 

Technology

 

 

18,491

 

 

 

21,055

 

Total Assets

 

$

33,643

 

 

$

35,040

 

 

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

 

 

 

 

 

Recycling

 

$

19

 

 

$

19

 

Technology

 

 

18,174

 

 

 

20,969

 

Total Intangible assets

 

$

18,193

 

 

$

20,988