Segment Reporting

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Reporting

NOTE 13 – SEGMENT REPORTING

During 2014, the Company had two principal operating segments, Plastic2Oil and the Data Business. These operating segments were determined based on the nature of the products and services offered. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker in deciding how to allocate resources and in assessing performance. The Company’s Chief Executive Officer has been identified as the chief operating decision maker, and directs the allocation of resources to operating segments based on the profitability and cash flows of each respective segment

The Company evaluates performance based on several factors, of which the primary financial measure is net income. The accounting policies of the business segments are the same as those described in “Note 2: Summary of Accounting Policies.” The following tables show the operations of the Company’s reportable segments:

Years Ended December 31, 2015

	Data Recovery & Migration		P2O			Other			Total
Sales	$	16,728	$	-		$	-		$	16,728
Cost of Sales	$	6,435	$	-		$	-		$	6,435
Total Operating Expenses	$	-	$	1,653,335		$	1,669,295		$	3,322,630
(Loss) from Operations	$	10,293	$	(1,653,335	)	$	(1,669,295	)	$	(3,312,337	)
Other Income (Expenses)	$	-	$	(644,412	)	$	(567,013	)	$	(1,211,425	)
Net(Loss) from Continuing Operations	$	10,293	$	(2,297,747	)	$	(2,236,308	)	$	(4,523,762	)
Net(Loss) from Discontinued Operations	$	-	$	-		$	199,452		$	199,452
Net Loss	$	10,293	$	(2,297,747	)		(2,036,856	)	$	(4,324,310	)
Total Assets	$	3,345	$	6,849,700		$	(1,468,076)	(1)	$	5,384,969
Accounts Receivable	$	3,345	$	-		$	-		$	3,345
Inventories	$	-	$	-		$	-		$	-

(1) Included Inter-company Receivable and Payables elimination

Years Ended December 31, 2014
	Data Recovery & Migration		P2O			Other			Total
Sales	$	12,906	$	49,111		$	-		$	59,017
Net Loss	$	7,700	$	(4,660,520	)		(2,148,699	)	$	(6,801,519	)
Total Assets	$	-	$	8,173,366		$	(1,184,278	)(1)	$	6,989,088
Inventories	$	-	$	86,053		$	-		$	86,053

(1) Included Inter-company Receivable and Payables elimination

All sales from the Data Business were recorded in the United States for the year ended December 31, 2015. For the year ended December 31, 2014, P2O sales in the United States and Canada were $6,355 and $42,756, respectively.

As of March 31, 2012, due to the conclusion that the Company could not substantiate when a significant amount of revenues would be earned from the Data Business, all property, plant and equipment assets related to the Data Business were determined to be impaired and was recorded to write the assets down to $Nil. All other amounts included in the measure of segment profit or loss related to the Data business are not material. Other than as noted above, the amounts shown for Operating Expenses and Other Income (Expense) items on the consolidated statements of operations related to the P2O segment.

P2O assets include the Company headquarters and various machinery and equipment used at the aforementioned sites and at the Niagara Falls Facility. As at December 31, 2015, total long-lived assets of $3,010,831 and $258,056 were located in the United States and Canada, respectively. As of December 31, 2014, total long-lived assets of $6,515,577 and $668,432, were located in the United States and Canada, respectively. The mortgage payable of $202, 000 and the equipment capital lease maturing on June 15, 2016, both disclosed in Note 8, relate to assets held in Canada. The mortgage payable of $40, 000 on December 31, 2015 disclosed in Note 7, relates to assets held in United States.