v3.26.1
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING

15. SEGMENT REPORTING

 

The Company’s Chief Operating Decision Maker (CODM) as defined under GAAP, who is the Company’s Chief Financial Officer and Chief Executive Officer, has determined that the Company is currently organized its operations into three segments: Construction, Software-as-a-Service (“SaaS”) and Oil and Gas. We allocate to segment results the operating expenses payroll and related expenses, general and administrative, marketing and business development, and pre-project costs based on usage, which is generally reflected in the segment in which the costs are incurred. These segments reflect the way our CODM evaluates the Company’s business performance and manages its operations. The Construction segment includes the Company’s manufacturing unit SG ECHO and other modules projects. The SaaS segment consists primarily of Machfu and its related industrial IoT products and services. The oil and gas segment reflects the operations of Olenox Corp. The medical segment had minimal activity during the year ended December 31, 2025 and is included within the Corporate segment. Corporate consist of general corporate expenses such as our executive office; the corporate finance, accounting, tax, human resources, risk management, information technology, marketing, and legal groups; corporate overhead and other items not allocated to any of the Company’s segments. From time to time, the Company revises the measurement of each segment’s cost of revenue and operating expenses, including any corporate overhead allocations, as determined by the information regularly reviewed by the CODM. The CODM continually reviews a monthly statement of operations separated by segment, along with an analysis of the significant segment expenses as described below. Information for the Company’s segments, as well as for Corporate and support, is provided in the following table:

 

    Construction     SaaS     Oil and Gas     Corporate     Consolidated  
Year Ended December 31, 2025                              
Revenue   $ 2,286,494     $ 377,617     $ 288,467     $ -     $ 2,952,578  
                                         
Significant segment expenses:                                        
Costs of revenue:                                        
Direct labor     584,519       -       -       -       584,519  
Materials     1,532,623       -       -       -       1,532,623  
Allocated overhead     2,018,499       -       -       -       2,018,499  
Other costs of revenue     59,036       -       -       -       59,036  
Lease and well operating costs     -       -       965,791       -       965,791  
Full cost ceiling write down     -       -       2,082,613       -       2,082,613  
Total costs of revenue     4,194,677       -       3,048,404       -       7,243,081  
                                         
Operating expenses:                                        
Payroll and related     407,725       817,141       -       1,004,546       2,229,412  
Professional fees     -       -       -       415,842       415,842  
General and administrative     -       534,785       -       6,597,799       7,132,574  
Total operating expenses     407725       1351926       -       8018187       9777838  
Operating loss     (2315908 )     (974309 )     (2,759,937 )     (8,018,187 )     (14,068,341 )
                                         
Other expense     90,575       (44,872 )     -       4,706,146       4,751,849  
Loss before income taxes     (2,406,483 )     (929,437 )     (2,759,937 )     (12,724,333 )     (18,820,190 )
                                         
Provision for income taxes     -       -       -       -       -  
                                         
Net loss attributable to common stockholders   $ (2,406,483 )   $ (929,437 )   $ (2,759,937 )   $ (12,724,333 )   $ (18,820,190 )
                                         
Total assets   $ 9,145,580     $ 19,297,693     $ 4,004,589     $ 3,587,845     $ 36,035,707  
                                         
Depreciation and amortization   $ 184,052     $ 363,836     $ 199,430     $ 89,178     $ 836,496  
                                         
Capital expenditures   $ 548,453     $ -     $ 571,000     $ -     $ 1,119,453  

 

 

    Construction     Medical     Corporate     Consolidated  
Fiscal Year Ended December 31, 2024                        
Revenue   $ 4,976,618     $ -     $ -     $ 4,976,618  
                                 
Significant segment expenses:                                
Costs of revenue:                                
Direct labor     407,241       -       -       407,241  
Materials     1,022,874       -       -       1,022,874  
Allocated overhead     3,517,750       -       -       3,517,750  
Other costs of revenue     272,830       -       -       272,830  
Total costs of revenue     5,220,695       -       -       5,220,695  
                                 
Operating expenses:                                
Payroll and related     -       -       4,474,176       4,474,176  
Professional fees     -       -       3,565,080       3,565,080  
Other expenses     75,404       104,174       1,243,704       1,423,282  
Total operating expenses     75,404       104,174       9,282,960       9,462,538  
                                 
Operating loss     (319,481 )     (104,174 )     (9,282,960 )     (9,706,615 )
Other expense     (545,947 )     -       (9,411,798 )     (9,957,745 )
Loss before income taxes     (865,428 )     (104,174 )     (18,694,758 )     (19,664,360 )
Loss from discontinued operation     -       -       (2,684,678 )     (2,684,678 )
Net loss attributable to common stockholders   $ (865,428 )   $ (104,174 )   $ (16,010,080 )   $ (16,979,682 )
Total assets   $ 4,782,379     $ 1,406     $ 1,287,739     $ 6,071,524  
Depreciation and amortization   $ 512,707             $ 14,086     $ 526,793  
Capital expenditure   $ 13,496     $ -     $ -     $ 13,496