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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 19 – SEGMENT REPORTING

 

Greenwave is organized into three operating segments based on our differentiated products – Scrap Metal Recycling, Hauling, and Other (primarily comprised of rental income).

 

We have one reportable geographic segment: the United States of America as all of our scrap metal is sourced domestically.

 

Our Chief Operating Decision Maker (“CODM”), Danny Meeks, Chairman and CEO, evaluates performance on both an operating segment basis and a consolidated basis, primarily using revenues, gross profit, and operating cash flows. These measures are used by the CODM, management, investors, lenders, and other external users of our financial statements to assess our operating performance and to compare results to other companies in the metal recycling industry. Our CODM utilizes segment profit and loss in assessing segment performance and in allocating resources among our operations.

 

Operating expenses, including selling, general and administrative expenses, depreciation and amortization, and other operating costs, are managed centrally and are not allocated to individual operating segments. These expenses are not included in the information regularly provided to or reviewed by the CODM when evaluating segment performance or making resource allocation decisions. As such, consistent with the requirements of ASU 2023-07, we present operating expenses only in the “Total” column and do not disaggregate these expenses by segment.

 

The following tables provide our results by segment:

 

                 
   Six Months Ended June 30, 2025 
    Scrap Metal                
    Recycling    Hauling    Other    Total 
Revenues  $11,507,645   $6,777,347   $45,000   $18,329,992 
Cost of revenues   (9,508,357)   (3,221,807)   -    (12,730,164)
Gross Profit:  $1,999,288   $3,555,540   $45,000   $5,599,828 
                     
Operating Expenses                 $(14,132,730)
Other Expenses                  (1,050,436)
Deemed Dividends                  (2,999,964)
Net loss available to common shareholders                 $(12,583,302)

 

             
   Six Months Ended June 30, 2024 
   Scrap Metal             
   Recycling   Hauling   Other   Total 
Revenues  $11,608,284   $4,703,276   $75,112   $16,386,672 
Cost of revenues   (8,172,883)   (2,665,673)   -    (10,838,556)
Gross Profit:  $3,435,401   $2,037,603   $75,112   $5,548,116 
                     
Operating Expenses                 $(17,321,013)
Other Expenses                  11,033,706 
Deemed Dividends                  (76,528,836)
Net loss available to common shareholders                 $(77,268,027)

 

             
   Three Months Ended June 30, 2025 
   Scrap Metal             
   Recycling   Hauling   Other   Total 
Revenues  $7,110,100   $3,865,182   $21,000   $10,996,282 
Cost of revenues   (7,381,585)   (1,501,532)   -    (8,883,117)
Gross Profit:  $(271,485)  $2,363,650   $21,000   $2,113,165 
                     
Operating Expenses                 $(6,764,560)
Other Expenses                  (266,204)
Deemed Dividends                  - 
Net loss available to common shareholders                 $(4,917,599)

 

             
   Three Months Ended June 30, 2024 
   Scrap Metal             
   Recycling   Hauling   Other   Total 
Revenues  $5,387,899   $2,449,384   $44,612   $7,881,895 
Cost of revenues   (4,091,870)   (1,506,170)   -    (5,598,040)
Gross Profit:  $1,296,029   $943,214   $44,612   $2,283,855 
                     
Operating Expenses                 $(11,245,027)
Other Expenses                  16,284,495 
Deemed Dividends                  (51,130,572)
Net loss available to common shareholders                 $(43,807,249)