Segment Information

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

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.

	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:

	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
Income before income taxes	$	(145,988	)	$	713,342		$	(73,555	)	$	725,852