SEGMENT REPORTING

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 19 – SEGMENT REPORTING

Operating segments are components of an enterprise about which separate financial information is available and is evaluated regularly by management, namely the Chief Operating Decision Maker (“CODM”) of an organization, in order to determine operating and resource allocation decisions. By this definition, the Company has identified its COO as the CODM. The Company operates and reports in two segments: Trucking and Digester.

Trucking Segment: The Trucking Segment generates service revenues and incurs expenses by transporting environmental and other waste for customers.

Digester Segment: The Digester Segment primarily generates revenues and incurs expenses through the production and sale of ‘digester’ equipment to customers. The segment also generates revenue through related services such as digester maintenance and software services.

The Company believes that this structure reflects its current operational and financial management, and that it provides the best structure for the Company to focus on growth opportunities while maintaining financial discipline. The factors used to identify the Trucking and Digester operating segments were the difference in revenue streams and customer base for each segment, the reporting structure for operational and performance information within the Company, and management’s decision to organize the Company around the different revenue generating activities of the segments. Total revenues for each reportable segment is as follows:

	Year Ended		Year Ended
	December 31,		December 31,
	2023		2022
	$		$
Trucking		6,228,457		4,203,112
Digester		1,395,992		-
Corporate / Other		135		-
Total Company	$	7,624,584	$	4,203,112

Gross profit (loss) for each reportable segment is as follows:

	Year Ended		Year Ended
	December 31,		December 31,
	2023		2022
	$		$
Trucking		322,657		(4,740	)
Digester		798,748		-
Corporate / Other		44		-
Total Company	$	1,121,449	$	(4,740	)

Net loss before provision for income taxes for each reportable segment is as follows:

	Year Ended			Year Ended
	December 31,			December 31,
	2023			2022
	$			$
Trucking		(4,152,256	)		(658,663	)
Digester		(20,303,071	)		-
Corporate / Other		(124,549,722	)		-
Total Company	$	(149,005,049	)	$	(658,663	)

Total assets, capital expenditures, and depreciation and amortization expense for each reportable segment is as follows:

	Assets				Capital expenditures				Depreciation and amortization (1)
	As of December 31,				Year Ended December 31,				Year Ended December 31,
	2023		2022		2023		2022		2023		2022
Trucking	$	8,804,653	$	7,407,967	$	643,100	$	3,349,628	$	492,770	$	325,382
Digesters		13,122,976		-		14,345		—		436,684		—
Corporate / Other		247,845		-		-		—		—		—
Total Company		22,175,474		7,407,967		657,445		3,349,628		929,454		325,382

(1) Depreciation expense of $424,040 and $325,382 for the year ended December 31, 2023 and 2022, respectively, is classified as cost of revenues on the consolidated income statement and included in the Trucking Segment depreciation and amortization because it is information reviewed by the CODM.