v3.25.1
SEGMENT AND CUSTOMERS INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT AND CUSTOMERS INFORMATION

22. SEGMENT AND CUSTOMERS INFORMATION

 

The Company had the following reportable segments as of March 31, 2025 and 2024; see Note 1 for a brief description of the Company’s business.

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the three months ended March 31, 2025:

                                        
   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $13,769,000   $-   $-   $13,769,000 
Revenue, crypto assets mining   -    -    5,198,000    -    -    -    -    5,198,000 
Revenue, hotel and real estate operations   -    -    516,000    3,149,000    -    -    -    3,665,000 
Revenue, lending and trading activities   -    (28,000)   -    -    -    -    -    (28,000)
Revenue, other   1,592,000    -    -    -    29,000    (1,000)   797,000    2,417,000 
Total revenue   1,592,000    (28,000)   5,714,000    3,149,000    13,798,000    (1,000)   797,000    25,021,000 
Cost of revenue   861,000    -    7,031,000    2,844,000    8,364,000    206,000    432,000    19,738,000 
Gross profit (loss)   731,000    (28,000)   (1,317,000)   305,000    5,434,000    (207,000)   365,000    5,283,000 
Operating expenses                                        
Research and development   125,000    -    -    -    -    4,000    -    129,000 
Selling and marketing   246,000    -    -    -    -    2,088,000    -    2,334,000 
General and administrative   1,138,000    120,000    (51,000)   1,363,000    2,337,000    -    4,297,000    9,204,000 
Total operating expenses   1,509,000    120,000    (51,000)   1,363,000    2,337,000    2,092,000    4,297,000    11,667,000 
(Loss) income from operations  $(778,000)  $(148,000)  $(1,266,000)  $(1,058,000)  $3,097,000   $(2,299,000)  $(3,932,000)   (6,384,000)
Other income (expense):                                        
Interest and other income                                      240,000 
Interest expense                                      (3,839,000)
Loss on extinguishment of debt                                      (4,569,000)
Gain on deconsolidation of subsidiary                                      10,049,000 
Loss on the sale of fixed assets                                      (161,000)
Total other expense, net                                      1,720,000 
Loss before income taxes                                     $(4,664,000)
                                         
Depreciation and amortization expense  $19,000   $-   $2,584,000   $972,000   $1,128,000   $19,000   $479,000   $5,201,000 
                                         
Interest expense  $(7,000)  $-   $(1,000)  $(1,839,000)  $(903,000)  $(225,000)  $(864,000)  $(3,839,000)
                                         
Capital expenditures for the year ended March 31, 2025  $-   $-   $1,621,000   $95,000   $1,138,000   $23,000   $3,000   $2,880,000 
                                         
Segment identifiable assets as of March 31, 2025  $2,855,000   $20,271,000   $33,851,000   $68,116,000   $46,399,000   $1,001,000   $45,761,000   $218,254,000 

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the three months ended March 31, 2024:

                                         
   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $12,918,000   $-   $-   $12,918,000 
Revenue, crypto assets mining   -    -    11,447,000    -    -    -    -    11,447,000 
Revenue, hotel and real estate operations             302,000    3,006,000                   3,308,000 
Revenue, lending and trading activities   -    9,099,000    -    -    -    -    -    9,099,000 
Revenue, other   1,225,000    -    -    -    39,000    28,000    301,000    1,593,000 
Total revenue   1,225,000    9,099,000    11,749,000    3,006,000    12,957,000    28,000    301,000    38,365,000 
Cost of revenue   667,000    -    8,544,000    2,817,000    7,991,000    1,000    157,000    20,177,000 
Gross profit   558,000    9,099,000    3,205,000    189,000    4,966,000    27,000    144,000    18,188,000 
Operating expenses                                        
Research and development   111,000    -    -    -    -    -    -    111,000 
Selling and marketing   360,000    -    -    -    -    3,688,000    -    4,048,000 
General and administrative   581,000    91,000    (164,000)   407,000    3,778,000    -    5,679,000    10,372,000 
Total operating expenses   1,052,000    91,000    (164,000)   407,000    3,778,000    3,688,000    5,679,000    14,531,000 
(Loss) income from operations  $(494,000)  $9,008,000   $3,369,000   $(218,000)  $1,188,000   $(3,661,000)  $(5,535,000)   3,657,000 
Other income (expense):                                        
Interest and other income                                      523,000 
Interest expense                                      (5,631,000)
Gain on conversion of investment in equity securities to marketable equity securities                             17,900,000 
Gain on extinguishment of debt                                      1,405,000 
Loss from investment in unconsolidated entity                                      (667,000)
Provision for loan losses, related party                                      (3,068,000)
Gain on the sale of fixed assets                                      68,000 
Total other expense, net                                      10,530,000 
Income before income taxes                                     $14,187,000 
                                         
Depreciation and amortization expense  $24,000   $-   $4,051,000   $-   $1,030,000   $18,000   $515,000   $5,638,000 
                                         
Interest expense  $(69,000)  $(5,000)  $(118,000)  $(1,583,000)  $(1,067,000)  $(1,601,000)  $(1,188,000)  $(5,631,000)
                                         
Capital expenditures for the three months ended March 31, 2024  $8,000   $-   $293,000   $589,000   $451,000   $30,000   $49,000   $1,420,000 
                                         
Segment identifiable assets as of December 31, 2024  $3,050,000   $6,676,000   $35,260,000   $69,130,000   $45,524,000   $1,130,000   $59,701,000   $220,471,000