SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of the company's reportable segment information

Segment information for the three months ended March 31, 2022 and 2021 is as follows:


THREE MONTHS ENDED MARCH 31, 2022
	Black Oil		Refining & Marketing		Recovery		Total
Revenues:

Pygas	$	—	$	4,690,268	$	—	$	4,690,268
Industrial fuel	—		572,281		—		572,281
Distillates (1)	—		29,456,369		—		29,456,369
Oil collection services	213,536		—				213,536
Metals (2)	—		—		3,414,286		3,414,286
Other re-refinery products (3)	—		—		533,305		533,305
VGO/Marine fuel sales	1,336,751		—		—		1,336,751
Total revenues	1,550,287		34,718,918		3,947,591		40,216,796
Cost of revenues (exclusive of depreciation and amortization shown separately below)	1,649,972		33,086,160		3,829,352		38,565,484
Depreciation and amortization attributable to costs of revenues	16,411		23,370		74,272		114,053
Gross profit (loss)	(116,096)		1,609,388		43,967		1,537,259
Selling, general and administrative expenses	7,411,220		1,124,336		246,839		8,782,395
Depreciation and amortization attributable to operating expenses	26,916		—		—		26,916
Income (loss) from operations	$	(7,554,232)	$	485,052	$	(202,872)	$	(7,272,052)


THREE MONTHS ENDED MARCH 31, 2021
	Black Oil		Refining & Marketing		Recovery		Total
Revenues:

Pygas	$	—	$	2,972,431	$	—	$	2,972,431
Industrial fuel	—		311,693		—		311,693
Distillates (1)	—		15,989,828		—		15,989,828
Oil collection services	122,986		—		3,423		126,409
Metals (2)	—		—		5,644,882		5,644,882
Other re-refinery products (3)	—		—		—		—
VGO/Marine fuel sales	—		—		—		—
Total revenues	122,986		19,273,952		5,648,305		25,045,243
Cost of revenues (exclusive of depreciation and amortization shown separately below)	280,378		17,949,695		4,578,630		22,808,703
Depreciation and amortization attributable to costs of revenues	20,382		31,876		60,239		112,497
Gross profit (loss)	(177,774)		1,292,381		1,009,436		2,124,043
Selling, general and administrative expenses	1,942,399		759,409		156,254		2,858,062
Depreciation and amortization attributable to operating expenses	26,916		—		—		26,916
Income (loss) from operations	$	(2,147,089)	$	532,972	$	853,182	$	(760,935)

(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.