Segment Information

9 Months Ended

Sep. 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 former settlement payments receivable from the G Farma Settlors, 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 September 30, 2023
Net revenue	$	-		$	2,151,811		$	-		$	2,151,811
Operating income (loss)		(181	)		(47,675	)		(144,873	)		(192,729	)
Interest income		-			1			10,729			10,730
Interest expense		-			25,023			4,530			29,553
Property additions		-			46,763			-			46,763
Depreciation and amortization		-			18,754			427			19,181
Three months ended September 30, 2022
Net revenue	$	20,168		$	1,910,131		$	-		$	1,930,299
Operating income (loss)		19,507			(314,565	)		(126,983	)		(422,041	)
Interest income		-			-			12,887			12,887
Interest expense		-			10,564			9,719			20,283
Property additions		-			18,334			-			18,334
Depreciation and amortization		-			17,687			520			18,207
Nine months ended September 30, 2023
Net revenue	$	-		$	6,432,907		$	(291	)	$	6,432,616
Operating income (loss)		(1,124	)		178,854			(434,158	)		(256,428	)
Interest income		-			1			27,563			27,564
Interest expense		-			62,770			13,579			76,349
Property additions		-			83,062			2,291			85,353
Depreciation and amortization		-			49,260			1,092			50,352
Total assets		651			3,357,852			1,811,270			5,169,773
Nine months ended September 30, 2022
Net revenue	$	37,659		$	5,610,158		$	-		$	5,647,817
Operating income (loss)		33,079			(360,192	)		(727,315	)		(1,054,428	)
Interest income		-			5			40,627			40,632
Interest expense		-			31,743			26,309			58,052
Property additions		-			46,236			-			46,236
Depreciation and amortization		-			50,283			1,564			51,847
Total assets		737,847			3,536,780			1,566,378			5,841,005

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 September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Operating loss	$	(192,729	)	$	(422,041	)	$	(256,428	)	$	(1,054,428	)
Employee retention credits		-			-			6,921			1,350,161
Gain (loss) on investments		939			590			715			(39,661	)
Interest income		10,730			12,887			27,564			40,632
Interest expense		(29,553	)		(20,283	)		(76,349	)		(58,052	)
Gain on asset disposals		-			-			-			56,455
Other income		1,021			56,128			14,430			58,026
Income before income taxes	$	(209,592	)	$	(372,719	)	$	(283,147	)	$	353,133

Subsequent to quarter end, on October 4, 2023, the Company sold its 51% interest in WCI. Then, on October 24, 2023, the Company completely divested itself of any cannabis assets or involvement and on October 30, 2023, the Company increased its energy investments. See Note. 20.