Quarterly report pursuant to Section 13 or 15(d)

25. Segment Information

v3.19.2
25. Segment Information
 6 Months Ended
Jun. 29, 2019
Segment Reporting [Abstract]  
Segment Information

Note 25:       Segment Information

 

We operate within targeted markets through two reportable segments for continuing operations: recycling and technology. 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 26 weeks ended June 29, 2019 and June 30, 2018:

 

  Thirteen Weeks Ended     Twenty Six Weeks Ended  
  June 29, 2019     June 30, 2018     June 29, 2019     June 30, 2018  
Revenues                        
Recycling   $ 7,601     $ 8,373     $ 13,894     $ 17,286  
Technology     –       –       –       –  
Total Revenues   $ 7,601     $ 8,373     $ 13,894     $ 17,286  
                                 
Gross profit                                
Recycling   $ 1,868     $ 2,150     $ 3,017     $ 4,562  
Technology     –       –       –       –  
Total Gross profit   $ 1,868     $ 2,150     $ 3,017     $ 4,562  
                                 
Operating loss                                
Recycling   $ (1,218 )   $ (390 )   $ (2,881 )   $ (679 )
Technology     (1,171 )     (1,212 )     (2,383 )     (2,485 )
Total Operating loss   $ (2,389 )   $ (1,602 )   $ (5,264 )   $ (3,164 )
                                 
Depreciation and amortization                                
Recycling   $ 21     $ 59     $ 99     $ 120  
Technology     936       933       1,871       1,866  
Total Depreciation and amortization   $ 957     $ 992     $ 1,970     $ 1,986  
                                 
Interest expense                                
Recycling   $ 14     $ 38     $ 6     $ 629  
Technology     –       –       –       –  
Total Interest expense   $ 14     $ 38     $ 6     $ 629  
                                 
Net loss before benefit from income taxes                                
Recycling   $ (451 )   $ (476 )   $ (2,109 )   $ (1,253 )
Technology     (1,313 )     (1,212 )     (2,383 )     (2,485 )
Total Net loss before benefit from income taxes   $ (1,764 )   $ (1,688 )   $ (4,492 )   $ (3,738 )

 

  As of     As of  
  June 29,     December 29,  
    2019     2018  
Assets                
Recycling   $ 14,063     $ 13,566  
Technology     19,420       21,055  
Total Assets   $ 33,483     $ 34,621  
                 
Goodwill and intangible assets                
Recycling   $ 19     $ 19  
Technology     19,103       20,969  
Total Goodwill and intangible assets   $ 19,122     $ 20,988