v3.26.1
SEGMENT AND CUSTOMERS INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT AND CUSTOMERS INFORMATION

17. SEGMENT AND CUSTOMERS INFORMATION

 

The Company had the following reportable segments as of March 31, 2026 and 2025; 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, 2026:

                                             
   Gresham   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $-   $11,001,000   $-   $-   $11,001,000 
Revenue, defense solutions   10,182,000    -    -    -    -    -    -    -    10,182,000 
Revenue, crypto assets mining   -    -    -    5,077,000    -    -    -    -    5,077,000 
Revenue, hotel and real estate operations   -    -    -    253,000    3,603,000    -    -    -    3,856,000 
Revenue, lending and trading activities   -    -    11,521,000    -    -    -    -    -    11,521,000 
Revenue, other        1,736,000    -    -    -    -    1,000    705,000    2,442,000 
Total revenue   10,182,000    1,736,000    11,521,000    5,330,000    3,603,000    11,001,000    1,000    705,000    44,079,000 
Cost of revenue   7,036,000    923,000    1,944,000    7,610,000    2,990,000    7,180,000    -    1,327,000    29,010,000 
Gross profit (loss)   3,146,000    813,000    9,577,000    (2,280,000)   613,000    3,821,000    1,000    (622,000)   15,069,000 
Operating expenses                                             
General and administrative   2,563,000    993,000    9,000    957,000    1,357,000    2,192,000    1,643,000    8,812,000    18,526,000 
Selling and marketing   454,000    308,000    -    -    -    -    89,000    4,761,000    5,612,000 
Research and development   400,000    133,000    -    -    -    -    1,550,000    2,717,000    4,800,000 
Change in fair value of crypto assets   -    -    -    11,437,000    -    -    -    650,000    12,087,000 
Total operating expenses   3,417,000    1,434,000    9,000    12,394,000    1,357,000    2,192,000    3,282,000    16,940,000    41,025,000 
(Loss) income from operations  $(271,000)  $(621,000)  $9,568,000   $(14,674,000)  $(744,000)  $1,629,000   $(3,281,000)  $(17,562,000)   (25,956,000)
Other income (expense):                                             
Interest and other income                                           769,000 
Interest expense                                           (6,546,000)
Gain on extinguishment of debt                                           489,000 
Change in fair value of embedded derivative liabilities                                           1,324,000 
Total other expense, net                                           (3,964,000)
Loss before income taxes                                          $(29,920,000)
                                              
Depreciation and amortization expense  $537,000   $8,000   $-   $3,542,000   $708,000   $1,021,000   $23,000   $536,000   $6,375,000 
                                              
Interest expense  $(376,000)  $(226,000)  $-   $(1,000)  $(3,410,000)  $(271,000)  $(319,000)  $(1,943,000)  $(6,546,000)
                                              
Capital expenditures for the three months
ended March 31, 2026		  $65,000   $-   $-   $6,523,000   $120,000   $1,482,000   $14,000   $2,362,000   $10,566,000 
                                              
Segment identifiable assets as of March 31, 2026  $39,365,000   $4,961,000   $18,145,000   $85,992,000   $65,719,000   $42,683,000   $680,000   $51,907,000   $309,452,000 

 

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, 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