Segment Reporting

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Reporting

NOTE 10 – SEGMENT REPORTING

For the three months ended March 31, 2016 and 2015 the company has no revenue. The company’s processors were idle for all of 2015 and remained idle during the three months ended March 31, 2016.

When operating, 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

When operating, 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.”

P2O assets include the Company headquarters and various machinery and equipment used at the Niagara Falls Facility. At March 31, 2016, total long-lived assets of $2,855,436 and $245,982 were located in the United States and Canada, respectively. As of December 31, 2015, total long-lived assets of $3,010,831 and $258,056 , were located in the United States and Canada, respectively. The mortgage payable of $215,040 and the equipment capital lease maturing on June 15, 2016, both disclosed in Note 5, relate to assets held in Canada. The mortgage payable of $25, 000 on November 31, 2016 disclosed in Note 5, relates to assets held in United States.