| Segment Information |
Note
19 – Segment Information
The
Company is an operating, acquisition, and investment business. Subsidiaries in which the Company has a controlling financial interest
are consolidated. The Company generally has two reportable segments; 1) the Company’s long-standing investment in WCI, which works
with business park owners, governmental centers, and apartment complexes to reduce their facility related operating costs, and 2) a historic
segment which includes the cost basis of our former membership interests of Electrum, the reserved contractual interest in the Electrum
legal recovery, the former finance lease payments receivable from Pueblo West to Partner II, the current settlement payments receivable
from the G Farma Settlers, and the legacy operation of subsidiaries MCIP and Partner I. Additionally, the Company has added new tracking
investments in energy securities listed on the NYSE.
Schedule of segment information
| |
|
Historic
Segment |
|
|
Facility Operations Related |
|
|
Corporate and Eliminations |
|
|
Consolidated |
|
| Three months ended June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net revenue |
|
$ |
- |
|
|
$ |
2,105,961 |
|
|
$ |
(291 |
) |
|
$ |
2,105,670 |
|
| Operating income (loss) |
|
|
(238 |
) |
|
|
(17,525 |
) |
|
|
(118,549 |
) |
|
|
(136,312 |
) |
| Interest income |
|
|
- |
|
|
|
- |
|
|
|
10,174 |
|
|
|
10,174 |
|
| Interest expense |
|
|
- |
|
|
|
21,583 |
|
|
|
(6,255 |
) |
|
|
27,838 |
|
| Property additions |
|
|
- |
|
|
|
36,298 |
|
|
|
2,291 |
|
|
|
38,589 |
|
| Depreciation and amortization |
|
|
- |
|
|
|
16,298 |
|
|
|
427 |
|
|
|
16,725 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Three months ended June 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net revenue |
|
$ |
8,473 |
|
|
$ |
1,860,146 |
|
|
$ |
- |
|
|
$ |
1,868,619 |
|
| Operating income (loss) |
|
|
8,080 |
|
|
|
(232,777 |
) |
|
|
(439,064 |
) |
|
|
(663,761 |
) |
| Interest income |
|
|
- |
|
|
|
- |
|
|
|
13,391 |
|
|
|
13,391 |
|
| Interest expense |
|
|
- |
|
|
|
10,386 |
|
|
|
9,176 |
|
|
|
19,562 |
|
| Property additions |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Depreciation and amortization |
|
|
- |
|
|
|
17,750 |
|
|
|
- |
|
|
|
17,750 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Six months ended June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net revenue |
|
$ |
- |
|
|
$ |
4,281,096 |
|
|
$ |
(291 |
) |
|
$ |
4,280,805 |
|
| Operating income (loss) |
|
|
(943 |
) |
|
|
226,529 |
|
|
|
(289,285 |
) |
|
|
(63,699 |
) |
| Interest income |
|
|
- |
|
|
|
- |
|
|
|
16,834 |
|
|
|
16,834 |
|
| Interest expense |
|
|
- |
|
|
|
37,746 |
|
|
|
9,051 |
|
|
|
46,797 |
|
| Property additions |
|
|
- |
|
|
|
36,298 |
|
|
|
2,291 |
|
|
|
38,589 |
|
| Depreciation and amortization |
|
|
- |
|
|
|
30,506 |
|
|
|
665 |
|
|
|
31,171 |
|
| Total assets |
|
|
- |
|
|
|
3,551,566 |
|
|
|
1,486,702 |
|
|
|
5,038,268 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Six months ended June 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net revenue |
|
$ |
17,491 |
|
|
$ |
3,700,027 |
|
|
$ |
- |
|
|
$ |
3,717,518 |
|
| Operating income (loss) |
|
|
13,571 |
|
|
|
(45,627 |
) |
|
|
(600,329 |
) |
|
|
(632,385 |
) |
| Interest income |
|
|
- |
|
|
|
- |
|
|
|
27,744 |
|
|
|
27,744 |
|
| Interest expense |
|
|
- |
|
|
|
21,180 |
|
|
|
16,589 |
|
|
|
37,769 |
|
| Property additions |
|
|
- |
|
|
|
27,902 |
|
|
|
- |
|
|
|
27,902 |
|
| Depreciation and amortization |
|
|
- |
|
|
|
32,596 |
|
|
|
1,044 |
|
|
|
33,640 |
|
| Total assets |
|
|
859,439 |
|
|
|
3,806,899 |
|
|
|
1,480,319 |
|
|
|
6,146,657 |
|
Note
19 – Segment Information (continued)
The
following table reconciles operating segments and corporate-unallocated operating income (loss) to consolidated income before income
taxes, as presented in the unaudited condensed consolidated income statements:
Schedule
of reconciliation of revenue from segments to consolidated
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Operating loss |
|
$ |
(136,312 |
) |
|
$ |
(663,761 |
) |
|
$ |
(63,699 |
) |
|
$ |
(632,385 |
) |
| Employee retention credits |
|
|
6,921 |
|
|
|
1,350,161 |
|
|
|
6,921 |
|
|
|
1,350,161 |
|
| Gain (loss) on investments |
|
|
(224 |
) |
|
|
929 |
|
|
|
(224 |
) |
|
|
(40,251 |
) |
| Interest income |
|
|
10,174 |
|
|
|
13,391 |
|
|
|
16,834 |
|
|
|
27,744 |
|
| Interest expense |
|
|
(27,838 |
) |
|
|
(19,562 |
) |
|
|
(46,797 |
) |
|
|
(37,769 |
) |
| Gain on asset disposals |
|
|
- |
|
|
|
30,287 |
|
|
|
- |
|
|
|
56,455 |
|
| Other income |
|
|
1,291 |
|
|
|
1,897 |
|
|
|
13,410 |
|
|
|
1,897 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|