v3.26.3
BUSINESS SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SCHEDULE OF SEGMENT REPORTING BY SEGMENT

 

Three-Month Period Ended March 31, 2025 (Restated)

  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   (3,374,506)   (587,809)   (361,892)   (44,844)   (4,369,051)   (281,836)   (4,650,887)
Income tax (expense) benefit   —    —    —    —    —    —    — 
Loss from operations after income taxes (expense) benefit   (3,374,506)   (587,809)   (361,892)   (44,844)   (4,369,051)   (281,836)   (4,650,887)
Total assets   79,776,369    45,042,635    38,250,664    929,031    163,998,699    93,640    164,092,339 
Depreciation and amortization   3,261,892    639,289    70,926    32,962    4,005,069    —    4,005,069 
Capital expenditures   —    —    —    —    —    —    — 

 

Three-Month Period Ended March 31, 2024  Bromine *   Crude Salt *   Chemical Products   Natural Gas   Segment Total   Corporate   Total 
Net revenue
(external customers)		  $1,146,197   $116,671   $—   $44,194   $1,307,062   $—   $1,307,062 
Net revenue
(intersegment)		   —    —    —    —    —    —    — 
Loss from operations before income expense   (4,782,815)   (75,092)   (314,824)   (27,709)   (5,200,440)   (68,979)   (5,269,419)
Income tax (expense) benefit   1,198,071    —    71,989    —    1,270,060    —    1,270,060 
Loss from operations after
income taxes (expense) benefit		   (3,584,744)   (75,092)   (242,835)   (27,709)   (3,930,380)   (68,979)   (3,999,359)
Total assets   100,370,933    11,517,576    107,776,242    1,912,377    221,577,128    250,287    221,827,415 
Depreciation and amortization   4,449,468    181,891    68,357    33,759    4,733,475    —    4,733,475 
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 segment.
SCHEDULE OF SEGMENT COST

 SCHEDULE OF SEGMENT COST

Reconciliations  2025(Restated)   2024 
   Three-Month Period Ended March 31, 
Reconciliations  2025(Restated)   2024 
Total segment operating loss  $(4,369,051)  $(5,200,440)
Corporate costs   (281,836)   (68,979)
Unrealized gain (loss) on translation of intercompany balance   —    — 
Loss from operations   (4,650,887)   (5,269,419)
Other income, net   (19,293)   7,227 
Loss before taxes  $(4,670,180)  $(5,262,192)
SCHEDULE OF REVENUE BY MAJOR CUSTOMERS

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%

 

The following table shows the major customers (10% or more) for the three-month period ended March 31, 2024.

 

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		  $134   $63   $—   $197    15.1%
2  Shouguang Weidong Chemical Company
Limited		   135    26    —    161    12.3%
3  Shandong Brother Technology Limited   133    28    —    161    12.3%
4  Shandong Shouguangshen Runfa Marine
Chemical Company Limited		  $135   $—   $—   $135    10.3%