Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.22.1
Segment Information
 12 Months Ended
Jan. 01, 2022
Segment Reporting [Abstract]  
Segment Information

Note 21: Segment information

The Company operates within targeted markets through three reportable segments: biotechnology, recycling and technology. The biotechnology segment 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 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. 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 fiscal years ended January 1, 2022, and January 2, 2021 (in $000's):

 

 

 

Fiscal Years Ended

 

 

 

January 1, 2022

 

 

January 2, 2021

 

Revenues

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

40,022

 

 

 

33,867

 

Technology

 

 

—

 

 

 

—

 

Total Revenues

 

$

40,022

 

 

$

33,867

 

Gross profit

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

8,868

 

 

 

8,827

 

Technology

 

 

—

 

 

 

—

 

Total Gross profit

 

$

8,868

 

 

$

8,827

 

Operating loss

 

 

 

 

 

 

Biotechnology

 

$

(1,351

)

 

$

(1,738

)

Recycling

 

 

(1,874

)

 

 

(3,172

)

Technology

 

 

(13,550

)

 

 

(4,086

)

Total Operating loss

 

$

(16,775

)

 

$

(8,996

)

Depreciation and amortization

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

448

 

 

 

376

 

Technology

 

 

3,744

 

 

 

3,746

 

Total Depreciation and amortization

 

$

4,192

 

 

$

4,122

 

Interest expense, net

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

773

 

 

 

504

 

Technology

 

 

—

 

 

 

—

 

Total Interest expense

 

$

773

 

 

$

504

 

Net loss before provision for income taxes

 

 

 

 

 

 

Biotechnology

 

$

(1,351

)

 

$

(1,738

)

Recycling

 

 

(1,694

)

 

 

(2,980

)

Technology

 

 

(13,569

)

 

 

(4,207

)

Total Net loss before provision for income taxes

 

$

(16,614

)

 

$

(8,925

)

 

 

 

 

As of

 

 

As of

 

 

 

January 1, 2022

 

 

January 2, 2021

 

Assets

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

15,165

 

 

 

10,614

 

Technology

 

 

—

 

 

 

13,737

 

Total Assets

 

$

15,165

 

 

$

24,351

 

Intangible Assets

 

 

 

 

 

 

Biotechnology

 

$

—

 

 

$

—

 

Recycling

 

 

268

 

 

 

470

 

Technology

 

 

—

 

 

 

13,519

 

Total Intangible Assets

 

$

268

 

 

$

13,989