SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of the company's reportable segment information

Segment information for the three and six months ended June 30, 2021 and 2020 is as follows:

THREE MONTHS ENDED JUNE 30, 2021
	Black Oil		Refining & Marketing		Recovery		Total
Revenues:
Base oil	$	12,928,334	$	—	$	—	$	12,928,334
Pygas	—		3,861,942		—		3,861,942
Industrial fuel	—		409,522		—		409,522
Distillates (1)	—		19,565,227		—		19,565,227
Oil collection services	2,022,975		—		68,309		2,091,284
Metals (2)	—		—		6,847,085		6,847,085
Other re-refinery products (3)	2,066,008		—		86,430		2,152,438
VGO/Marine fuel sales	17,339,079		—		—		17,339,079
Total revenues	34,356,396		23,836,691		7,001,824		65,194,911
Cost of revenues (exclusive of depreciation and amortization shown separately below)	24,165,394		22,467,363		6,272,234		52,904,991
Depreciation and amortization attributable to costs of revenues	1,089,417		126,429		177,504		1,393,350
Gross profit	9,101,585		1,242,899		552,086		10,896,570
Selling, general and administrative expenses	7,516,867		688,108		620,965		8,825,940
Depreciation and amortization attributable to operating expenses	353,947		108,472		20,450		482,869
Income from operations	$	1,230,771	$	446,319	$	(89,329)	$	1,587,761

THREE MONTHS ENDED JUNE 30, 2020
	Black Oil		Refining & Marketing		Recovery		Total
Revenues:
Base oil	$	4,919,622	$	—	$	555,350	$	5,474,972
Pygas	—		1,172,766		—		1,172,766
Industrial fuel	83,940		—		—		83,940
Distillates (1)	—		5,124,562		—		5,124,562
Oil collection services	2,058,734		—		—		2,058,734
Metals (2)	—		—		2,978,313		2,978,313
Other re-refinery products (3)	849,885		—		—		849,885
VGO/Marine fuel sales	3,630,955		—		—		3,630,955
Total revenues	11,543,136		6,297,328		3,533,663		21,374,127
Cost of revenues (exclusive of depreciation and amortization shown separately below)	11,848,334		5,958,778		4,390,693		22,197,805
Depreciation and amortization attributable to costs of revenues	982,085		113,986		143,493		1,239,564
Gross profit (loss)	(1,287,283)		224,564		(1,000,523)		(2,063,242)
Selling, general and administrative expenses	4,869,390		578,027		583,143		6,030,560
Depreciation and amortization attributable to operating expenses	347,667		105,780		20,450		473,897
Loss from operations	$	(6,504,340)	$	(459,243)	$	(1,604,116)	$	(8,567,699)

SIX MONTHS ENDED JUNE 30, 2021
	Black Oil		Refining & Marketing		Recovery		Total
Revenues:
Base oil	$	22,042,228	$	—	$	295,315	$	22,337,543
Pygas	—		6,834,373		—		6,834,373
Industrial fuel	—		721,215		—		721,215
Distillates (1)	—		35,555,056		—		35,555,056
Oil collection services	3,584,901		—		144,739		3,729,640
Metals (2)	—		—		13,127,132		13,127,132
Other re-refinery products (3)	3,534,237		—		86,430		3,620,667
VGO/Marine fuel sales	37,353,278		—		—		37,353,278
Total revenues	66,514,644		43,110,644		13,653,616		123,278,904
Cost of revenues (exclusive of depreciation and amortization shown separately below)	44,001,840		40,618,133		11,631,292		96,251,265
Depreciation and amortization attributable to costs of revenues	2,163,678		252,062		325,430		2,741,170
Gross profit	20,349,126		2,240,449		1,696,894		24,286,469
Selling, general and administrative expenses	13,938,563		1,447,518		1,366,439		16,752,520
Depreciation and amortization attributable to operating expenses	707,895		216,943		40,900		965,738
Income from operations	$	5,702,668	$	575,988	$	289,555	$	6,568,211

SIX MONTHS ENDED JUNE 30, 2020
	Black Oil		Refining & Marketing		Recovery		Total
Revenues:
Base oil	$	12,282,349	$	—	$	1,358,250	$	13,640,599
Pygas	—		3,630,606		—		3,630,606
Industrial fuel	1,241,076		52,752		—		1,293,828
Distillates (1)	—		5,124,562		—		5,124,562
Oil collection services	3,257,562		—		—		3,257,562
Metals (2)	—		—		6,336,880		6,336,880
Other re-refinery products (3)	3,506,589		—		—		3,506,589
VGO/Marine fuel sales	20,786,930		—		—		20,786,930
Total revenues	41,074,506		8,807,920		7,695,130		57,577,556
Cost of revenues (exclusive of depreciation and amortization shown separately below)	31,914,575		8,554,830		8,565,254		49,034,659
Depreciation and amortization attributable to costs of revenues	1,918,980		219,754		277,252		2,415,986
Gross profit (loss)	7,240,951		33,336		(1,147,376)		6,126,911
Selling, general and administrative expenses	10,280,613		1,170,416		1,280,049		12,731,078
Depreciation and amortization attributable to operating expenses	682,783		206,178		43,072		932,033
Loss from operations	$	(3,722,445)	$	(1,343,258)	$	(2,470,497)	$	(7,536,200)

(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.