v3.26.1
BUSINESS SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting [Table Text Block]
Three-Month                     
Period Ended     Crude  Chemical     Segment      

March 31, 2026

  Bromine*  Salt*  Products  Natural Gas  Total  Corporate  Total

Net revenue

(external customers)

  $2,249,950   $118,676   $—   $—   $2,368,626   $—   $2,368,626 

Loss from operations before income tax benefit

   (3,067,778)   (727,679)   —    (31,809)   (3,827,266)   (229,331)   (4,056,597)
Income tax benefit (expense)   —    —    —    —    —    —    — 
Loss from operations after income tax (expense) benefit   (3,067,778)   (727,679)   —    (31,809)   (3,827,266)   (229,331)   (4,056,597)
Total assets   82,009,150    49,970,378    —    520,295    132,499,823    286,155    132,785,978 
Depreciation and amortization   3,297,472    769,793    —    26,164    4,093,429    —    4,093,429 
Capital expenditures   548,296    —    —    —    548,296    —    548,296 

 

 

Three-Month Period Ended March 31, 2025  Bromine * 

Crude

Salt *

 

Chemical

Products

  Natural Gas 

Segment

Total

  Corporate  Total
Net revenue
(external customers)		  $1,481,869   $122,578   $—   $—   $1,604,447   $—   $1,604,447 
Net revenue
(intersegment)		   —    —    —    —    —    —    — 
Loss from operations before income expense   (3,370,836)   (554,062)   (358,629)   (44,844)   (4,328,371)   (281,836)   (4,610,207)
Income tax (expense) benefit   —    —    —    —    —    —    — 
Loss from operations after income taxes (expense) benefit   (3,370,836)   (554,062)   (358,629)   (44,844)   (4,328,371)   (281,836)   (4,610,207)
Total assets   79,995,961    46,300,814    38,410,493    929,031    165,636,299    93,640    165,729,939 
Depreciation and amortization   3,258,222    644,677    67,663    32,962    4,003,524    —    4,003,524 
Capital expenditures   —    —    —    —    —    —    — 

 

 

*  Certain common production overheads, operating and administrative expenses and asset items (mainly cash and certain office equipment) of bromine and crude salt segments in SCHC were split by reference to the average selling price and production volume of the respective segments.
Business Segments - Schedule of Segment Reconciliations
           
   Three-Month Period Ended March 31,
Reconciliations  2026  2025
Total segment operating loss  $(3,827,266)  $(4,328,371)
Corporate costs   (229,331)   (281,836)
Unrealized gain (loss) on translation of intercompany balance   —    — 
Loss from operations   (4,056,597)   (4,610,207)
Interest income   253,660    2,429 
Interest expense   (123,444)   (21,722) 
Loss before taxes  $(3,926,381)  $(4,629,500)
Business Segments - Schedule of Revenue by Major Customers

The following table shows the major customers (10% or more) for the three-month period ended March 31, 2026.

Number  Customer 

Bromine

(000’s)

 

Crude Salt

(000’s)

 

Chemical Products

(000’s)

 

Total

Revenue

 (000’s)

 

Percentage of

Total

Revenue (%)

1  Shandong Shouguang Shenruifa Marine Chemical Company Limited  $393   $—   $—   $393    16.6%
2  Shandong Brother Technology Limited   261    50    —    311    13.1%
3  Shandong Morui Chemical Company Limited   264    43    —    307    13.0%
4  Shouguang Weidong Chemical Company Limited   263    26    —    289    12.2%
5  Shandong Xuruixin Materials Company Limited  $263   $—   $—   $263    11.1%

 

The following table shows the major customers (10% or more) for the three-month period ended March 31, 2025.

 

Number  Customer 

Bromine

(000’s)

 

Crude Salt

(000’s)

 

Chemical Products

(000’s)

 

Total

Revenue

 (000’s)

 

Percentage of

Total

Revenue (%)

1  Shandong Morui Chemical Company Limited  $196   $58   $—   $254    15.8%
2  Shandong Brother Technology Limited   193    36    —    229    14.3%
3  Shouguang Weidong Chemical Company Limited   197    28    —    225    14.0%
4  Shandong Shouguangshen Runfa Marine Chemical Company Limited  $195   $—   $—   $195    12.1%