Quarterly report pursuant to Section 13 or 15(d)

24. Segment Information

v3.10.0.1
24. Segment Information
 9 Months Ended
Sep. 29, 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 does not have any revenue 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     Thirty Nine Weeks Ended  
    September 29, 2018     September 30, 2017     September 29, 2018     September 30, 2017  
                         
Revenues                                
Recycling   $ 10,267     $ 11,452     $ 27,553     $ 29,647  
Technology     –       –       –       –  
Total Revenues   $ 10,267     $ 11,452     $ 27,553     $ 29,647  
                                 
Gross profit                                
Recycling   $ 3,393     $ 4,434     $ 7,955     $ 10,238  
Technology     –       –       –       –  
Total Gross profit   $ 3,393     $ 4,434     $ 7,955     $ 10,238  
                                 
Operating income (loss)                                
Recycling   $ (469 )   $ 1,092     $ (1,209 )   $ 166  
Technology     (1,202 )     (272 )     (3,627 )     (272 )
Total Operating income   $ (1,671 )   $ 820     $ (4,836 )   $ (106 )
                                 
Depreciation and amortization                                
Recycling   $ 76     $ 504     $ 196     $ 782  
Technology     933       272       2,797       272  
Total Depreciation and amortization   $ 1,009     $ 776     $ 2,993     $ 1,054  
                                 
Interest expense                                
Recycling   $ 45     $ 209     $ 675     $ 631  
Technology     –       –       –       –  
Total Interest expense   $ 45     $ 209     $ 675     $ 631  
                                 
Net income (loss) before provision for income taxes                                
Recycling   $ (263 )   $ 1,336     $ (1,543 )   $ 5,816  
Technology     (1,202 )     (272 )     (3,627 )     (272 )
Total Net income (loss) before provision for income taxes   $ (1,465 )   $ 1,064     $ (5,170 )   $ 5,544  

 

    As of     As of  
    September 29,     December 30,  
    2018     2017  
Assets                
Recycling   $ 14,699     $ 21,745  
Technology     22,141       25,146  
Total Assets   $ 36,840     $ 46,891  
                 
Goodwill and intangible assets                
Recycling   $ 19     $ 19  
Technology     21,902       24,699  
Total Goodwill and intangible assets   $ 21,921     $ 24,718