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

8. 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’s operations are currently organized into three segments: Construction, Software-as-a-Service (“SaaS”) and Oil and Gas. The Company allocates 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 and other modular 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. Corporate consists 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  
Three Months Ended March 31, 2026
Revenue   $ 100,471     $ 25,548     $ 159,293     $ —     $ 285,313  
                                         
Significant segment expenses:                                        
Costs of revenue:                                        
Direct labor     6,746       —       —       1,031       7,777  
Materials     78,655       —       —       —       78,655  
Allocated overhead     5,988       —       —       —       5,988  
Other costs of revenue     43,998       10,158       —       99,744       153,900  
Lease and well operating costs     —       —       239,826       —       239,826  
Total costs of revenue     135,387       10,158       239,826       100,775       486,146  
                                         
Operating expenses:                                        
Payroll and related     74,853       20,609       —       596,918       692,380  
Professional fees     —       —       —       516,098       516,098  
General and administrative     115,519       196,686       —       1,161,598       1,473,803  
Total operating expenses     190,372       217,295       —       2,274,614       2,682,281  
                                         
Operating income (loss)     (225,288 )     (201,905 )     (80,533 )     (2,375,388 )     (2,883,114 )
                                         
Other expense (income)     149,884       30,461       —       (397,735 )     (217,390 )
Loss before income taxes     (375,172 )     (232,366 )     (80,533 )     (1,977,653 )     (2,665,724 )
                                         
Provision for income taxes     —       —       —       —       —  
                                         
Net loss   $ (375,172 )   $ (232,366 )   $ (80,533 )   $ (1,977,653 )   $ (2,665,724 )
                                         
Total assets   $ 9,061,447     $ 19,077,273     $ 3,923,164     $ 3,338,892     $ 35,400,776  
                                         
Depreciation and amortization   $ 42,621     $ 121,846     $ 81,425     $ 80,392     $ 326,284  
                                         
Capital expenditures   $ 46,643     $ —     $ —     $ —     $ 31,643  

 

    Construction     Medical     Corporate
and support		     Oil and Gas     Consolidated  
Three Months Ended March 31, 2025
Revenue   $ 496,079     $ —     $ —     $ 70,275     $ 566,354  
                                         
Significant segment expenses:                                        
Costs of revenue:                                        
Direct labor     188,093       —       —       —       188,093  
Materials     144,874       —       —       —       144,874  
Allocated overhead     480,348       —       —       —       480,348  
Other costs of revenue     41,151       —       —       35,643       76,794  
Total costs of revenue     854,466       —       —       35,643       890,109  
                                         
Operating expenses:                                        
Payroll and related     —       —       439,869       115,869       555,738  
Professional fees     —       —       602,642       —       602,642  
Other expenses     1,066       827       140,285       207,669       349,847  
Total operating expenses     1,066       827       1,182,796       323,538       1,508,227  
                                         
Operating loss     (359,453 )     (827 )     (1,182,796 )     (288,906 )     (1,831,982 )
Other expense     (150,375 )     —       (712,557 )     (51,754 )     (914,686 )
Net loss   $ (509,828 )   $ (827 )   $ (1,895,353 )   $ (340,660 )   $ (2,746,668 )
                                         
Total assets, as restated (Note 3)   $ 4,701,547     $ 1,406     $ 456,097     $ 28,236,577     $ 33,395,626  
                                         
Depreciation and amortization   $ 45,584     $ —     $ 15,678     $ 45,913     $ 107,175