SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Schedule of the company's reportable segment information

Segment information for the three months ended March 31, 2021 and 2020 is as follows:

THREE MONTHS ENDED MARCH 31, 2021
	Black Oil		Refining & Marketing		Recovery		Total
Revenues:
Base oil	$	9,113,893	$	—	$	295,315	$	9,409,208
Pygas	—		2,972,431		—		2,972,431
Industrial fuel	—		311,693		—		311,693
Distillates (1)	—		15,989,828		—		15,989,828
Oil collection services	1,561,927		—		76,431		1,638,358
Metals (2)	—		—		6,280,047		6,280,047
Other re-refinery products (3)	1,468,229		—		—		1,468,229
VGO/Marine fuel sales	20,014,199		—		—		20,014,199
Total revenues	32,158,248		19,273,952		6,651,793		58,083,993
Cost of revenues (exclusive of depreciation and amortization shown separately below)	19,836,446		18,150,770		5,359,058		43,346,274
Depreciation and amortization attributable to costs of revenues	1,074,260		125,634		147,926		1,347,820
Gross profit	11,247,542		997,548		1,144,809		13,389,899
Selling, general and administrative expenses	6,421,696		759,410		745,474		7,926,580
Depreciation and amortization attributable to operating expenses	353,948		108,471		20,450		482,869
Income from operations	$	4,471,898	$	129,667	$	378,885	$	4,980,450

THREE MONTHS ENDED MARCH 31, 2020
	Black Oil		Refining & Marketing		Recovery		Total
Revenues:
Base oil	$	7,362,727	$	—	$	802,899	$	8,165,626
Pygas	—		2,457,841		—		2,457,841
Industrial fuel	1,157,136		52,752		—		1,209,888
Distillates (1)	—		—		—		—
Oil collection services	1,198,828		—		—		1,198,828
Metals (2)	—		—		3,358,567		3,358,567
Other re-refinery products (3)	2,656,704		—				2,656,704
VGO/Marine fuel sales	17,155,975		—		—		17,155,975
Total revenues	29,531,370		2,510,593		4,161,466		36,203,429
Cost of revenues (exclusive of depreciation and amortization shown separately below)	20,066,240		2,596,052		4,174,562		26,836,854
Depreciation and amortization attributable to costs of revenues	936,895		105,768		135,931		1,178,594
Gross profit (loss)	8,528,235		(191,227)		(149,027)		8,187,981
Selling, general and administrative expenses	5,411,222		592,389		696,907		6,700,518
Depreciation and amortization attributable to operating expenses	335,105		100,398		20,450		455,953
Income (loss) from operations	$	2,781,908	$	(884,014)	$	(866,384)	$	1,031,510

(1) Distillates are finished fuel products such as gasoline and diesel fuels.

(2) Metals consist of recoverable ferrous and non-ferrous recyclable metals from manufacturing and consumption. Scrap metal can be recovered from pipes, barges, boats, building supplies, surplus equipment, tanks, and other items consisting of metal composition. These materials are segregated, processed, cut-up and sent back to a steel mill for re-purposing.

(3) Other re-refinery products include the sales of asphalt, condensate, recovered products, and other petroleum products.