SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of segment reporting information

Segment information for the years ended December 31, 2021, 2020 and 2019 are as follows:

YEAR ENDED DECEMBER 31, 2021
	Black Oil		Refining and Marketing		Recovery		Total
Revenues:
Base oil	$	—	$	—	$	—	$	—
Pygas	—		13,438,244		—		13,438,244
Industrial fuel	—		1,600,839		—		1,600,839
Distillates (1)	—		78,190,691		—		78,190,691
Oil collection services	677,487		—		3,423		680,910
Metals (2)	—		—		21,008,600		21,008,600
Other re-refinery products (3)	—		—		862,091		862,091
VGO/Marine fuel sales	—		—		—		—
Total revenues	677,487		93,229,774		21,874,114		115,781,375
Cost of revenues (exclusive of depreciation and amortization shown separately below)	1,901,774		89,570,129		19,248,465		110,720,368
Depreciation and amortization attributable to costs of revenues	75,402		127,501		283,525		486,428
Gross profit (loss)	(1,299,689)		3,532,144		2,342,124		4,574,579
Selling, general and administrative expenses	13,632,330		3,277,265		823,095		17,732,690
Loss on Assets Impairment	2,123,703		—		—		2,123,703
Depreciation and amortization attributable to operating expenses	107,664		—		—		107,664
Income (loss) from operations	$	(17,163,386)	$	254,879	$	1,519,029	$	(15,389,478)
Total assets	$	171,493,256	$	5,639,420	$	4,811,290	$	181,943,966
YEAR ENDED DECEMBER 31, 2020
	Black Oil		Refining and Marketing		Recovery		Total
Revenues:
Base oil	$	—	$	—	$	—	$	—
Pygas	—		6,627,128		—		6,627,128
Industrial fuel	—		234,792		—		234,792
Distillates (1)	—		28,942,465		—		28,942,465
Oil collection services	4,735		—		—		4,735
Metals (2)	—		—		11,261,607		11,261,607
Other re-refinery products (3)	—		—		(51,684)		(51,684)
VGO/Marine fuel sales	—		—		—		—
Total revenues	4,735		35,804,385		11,209,923		47,019,043
Cost of revenues (exclusive of depreciation and amortization shown separately below)	807,863		35,207,189		9,505,062		45,520,114
Depreciation and amortization attributable to costs of revenues	17,239		140,217		300,699		458,155
Gross profit (loss)	(820,367)		456,979		1,404,162		1,040,774
Selling, general and administrative expenses	5,036,054		2,528,987		552,388		8,117,429
Depreciation and amortization attributable to operating expenses	71,776		—		—		71,776
Income (loss) from operations	$	(5,928,197)	$	(2,072,008)	$	851,774	$	(7,148,431)
Total assets	$	32,691,626	$	3,545,843	$	3,520,159	$	39,757,628

YEAR ENDED DECEMBER 31, 2019
	Black Oil		Refining and Marketing		Recovery		Total
Revenues:
Base oil	$	—	$	—	$	—	$	—
Pygas	—		10,873,699		—		10,873,699
Industrial fuel	—		2,029,371		—		2,029,371
Distillates (1)	—		54,697		—		54,697
Oil collection services	—		—		—		—
Metals (2)	—		—		5,324,453		5,324,453
Other re-refinery products (3)	—		—		75,355		75,355
VGO/Marine fuel sales	—		—		—		—
Total revenues	—		12,957,767		5,399,808		18,357,575
Cost of revenues (exclusive of depreciation and amortization shown separately below)	669,904		10,651,069		5,631,162		16,952,135
Depreciation and amortization attributable to costs of revenues	—		131,210		329,900		461,110
Gross profit (loss)	(669,904)		2,175,488		(561,254)		944,330
Selling, general and administrative expenses	4,268,707		1,901,746		486,725		6,657,178
Depreciation and amortization attributable to operating expenses	—		—		—		—
Income (loss) from operations	$	(4,938,611)	$	273,742	$	(1,047,979)	$	(5,712,848)
Total assets	$	25,743,559	$	1,101,470	$	2,952,528	$	29,797,557

(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.