Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.2
Segment Information
 6 Months Ended
Jul. 03, 2021
Segment Reporting [Abstract]  
Segment Information

Note 20: Segment Information

We operate within targeted markets through three reportable segments for continuing operations: biotechnology, recycling, and technology. The biotechnology segment commenced operations 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. 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 technology segment designs wireless modules to connect devices to the Mobile Internet of Things (“IoT”) which contain location-based service (“LBS”) capabilities and can interface to external sensors to allow them to communicate both sensor status and position information. 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 sales and income from operations of each segment. Operating loss 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 weeks ended July 3, 2021 and June 27, 2020 and the 26 weeks ended July 3, 2021 and June 27, 2020:

 

 

 

Thirteen Weeks Ended

 

 

Twenty Six Weeks Ended

 

 

 

July 3, 2021

 

 

June 27, 2020

 

 

July 3, 2021

 

 

June 27, 2020

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Recycling

 

 

8,606

 

 

 

4,007

 

 

 

17,278

 

 

 

12,457

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Revenues

 

$

8,606

 

 

$

4,007

 

 

$

17,278

 

 

$

12,457

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Recycling

 

 

1,743

 

 

 

1,045

 

 

 

3,164

 

 

 

2,519

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Gross profit

 

$

1,743

 

 

$

1,045

 

 

$

3,164

 

 

$

2,519

 

Operating loss

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

(808

)

 

$

(464

)

 

$

(1,050

)

 

$

(807

)

Recycling

 

 

(1,099

)

 

 

(846

)

 

 

(2,027

)

 

 

(2,775

)

Technology

 

 

(945

)

 

 

(1,008

)

 

 

(1,884

)

 

 

(2,135

)

Total Operating loss

 

$

(2,852

)

 

$

(2,318

)

 

$

(4,961

)

 

$

(5,717

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Recycling

 

 

110

 

 

 

91

 

 

 

218

 

 

 

171

 

Technology

 

 

935

 

 

 

936

 

 

 

1,872

 

 

 

1,873

 

Total Depreciation and amortization

 

$

1,045

 

 

$

1,027

 

 

$

2,090

 

 

$

2,044

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Recycling

 

 

125

 

 

 

54

 

 

 

198

 

 

 

167

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Interest expense, net

 

$

125

 

 

$

54

 

 

$

198

 

 

$

167

 

Net loss before benefit from income taxes

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

(808

)

 

$

(464

)

 

$

(1,050

)

 

$

(807

)

Recycling

 

 

(2,992

)

 

 

(841

)

 

 

(1,353

)

 

 

(2,072

)

Technology

 

 

(974

)

 

 

(1,075

)

 

 

(1,871

)

 

 

(2,195

)

Total Net loss before benefit from income taxes

 

$

(4,774

)

 

$

(2,380

)

 

$

(4,274

)

 

$

(5,074

)

 

 

 

As of
July 3,
2021

 

 

As of
January 2,
2021

 

Assets

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

15,687

 

 

 

10,614

 

Technology

 

 

11,769

 

 

 

13,737

 

Total Assets

 

$

27,456

 

 

$

24,351

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

391

 

 

 

470

 

Technology

 

 

11,652

 

 

 

13,519

 

Total Intangible assets

 

$

12,043

 

 

$

13,989