Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.2
Segment Information
 9 Months Ended
Oct. 02, 2021
Segment Reporting [Abstract]  
Segment Information

Note 20: Segment Information

The Company operates 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 October 2, 2021 and September 26, 2020 and the 39 weeks ended October 2, 2021 and September 26, 2020:

 

 

 

Thirteen Weeks Ended

 

 

Thirty-Nine Weeks Ended

 

 

 

October 2, 2021

 

 

September 26, 2020

 

 

October 2, 2021

 

 

September 26, 2020

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Recycling

 

 

12,113

 

 

 

12,266

 

 

 

29,391

 

 

 

24,723

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Revenues

 

$

12,113

 

 

$

12,266

 

 

$

29,391

 

 

$

24,723

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Recycling

 

 

3,081

 

 

 

3,717

 

 

 

6,245

 

 

 

6,236

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Gross profit

 

$

3,081

 

 

$

3,717

 

 

$

6,245

 

 

$

6,236

 

Operating loss

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

(182

)

 

$

(845

)

 

$

(1,232

)

 

$

(1,652

)

Recycling

 

 

274

 

 

 

1,249

 

 

 

(1,753

)

 

 

(1,526

)

Technology

 

 

(936

)

 

 

(1,227

)

 

 

(2,820

)

 

 

(3,362

)

Total Operating loss

 

$

(844

)

 

$

(823

)

 

$

(5,805

)

 

$

(6,540

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Recycling

 

 

109

 

 

 

124

 

 

 

327

 

 

 

295

 

Technology

 

 

937

 

 

 

936

 

 

 

2,809

 

 

 

2,809

 

Total Depreciation and amortization

 

$

1,046

 

 

$

1,060

 

 

$

3,136

 

 

$

3,104

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Recycling

 

 

125

 

 

 

88

 

 

 

323

 

 

 

255

 

Technology

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Interest expense, net

 

$

125

 

 

$

88

 

 

$

323

 

 

$

255

 

Net loss before benefit from income taxes

 

 

 

 

 

 

 

 

 

 

 

 

Biotechnology

 

$

(182

)

 

$

(845

)

 

$

(1,232

)

 

$

(1,652

)

Recycling

 

 

208

 

 

 

1,193

 

 

 

(1,145

)

 

 

(879

)

Technology

 

 

(961

)

 

 

(1,257

)

 

 

(2,832

)

 

 

(3,452

)

Total Net loss before benefit from income taxes

 

$

(935

)

 

$

(909

)

 

$

(5,209

)

 

$

(5,983

)

 

 

 

 

As of
October 2,
2021

 

 

As of
January 2,
2021

 

Assets

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

16,777

 

 

 

10,614

 

Technology

 

 

10,833

 

 

 

13,737

 

Total Assets

 

$

27,610

 

 

$

24,351

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

327

 

 

 

470

 

Technology

 

 

10,719

 

 

 

13,519

 

Total Intangible assets

 

$

11,046

 

 

$

13,989