XML 54 R42.htm IDEA: XBRL DOCUMENT
v3.25.3

SEGMENT REPORTING (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The Company’s reportable segment information is as follows:
| Three Months Ended September 30,
| 2025 |  | 2024
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufactur- ing Operations |  | Total |  | Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  |  |  | Total
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
License fees | $ | 7,795 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7,795 |  |  | $ | 486 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 486 |
Revenues - industrial operations | — |  |  | 6,660 |  |  | — |  |  | — |  |  | 6,660 |  |  | — |  |  | 7,007 |  |  | — |  |  |  |  | 7,007 |
Oil sales | — |  |  | — |  |  | 6,614 |  |  | — |  |  | 6,614 |  |  | — |  |  | — |  |  | 8,997 |  |  |  |  | 8,997 |
Natural gas sales | — |  |  | — |  |  | 3,738 |  |  | — |  |  | 3,738 |  |  | — |  |  | — |  |  | 2,829 |  |  |  |  | 2,829 |
Natural gas liquids sales | — |  |  | — |  |  | 3,207 |  |  | — |  |  | 3,207 |  |  | — |  |  | — |  |  | 3,837 |  |  |  |  | 3,837 |
Other service sales | — |  |  | — |  |  | 617 |  |  | — |  |  | 617 |  |  | — |  |  | — |  |  | 154 |  |  |  |  | 154 |
Air distribution | — |  |  | — |  |  | — |  |  | 10,226 |  |  | 10,226 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Transportation safety | — |  |  | — |  |  | — |  |  | 11,287 |  |  | 11,287 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Office products | — |  |  | — |  |  | — |  |  | 9,302 |  |  | 9,302 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Total revenues | 7,795 |  |  | 6,660 |  |  | 14,176 |  |  | 30,815 |  |  | 59,446 |  |  | 486 |  |  | 7,007 |  |  | 15,817 |  |  |  |  | 23,310 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales - intellectual property operations | 8,301 |  |  | — |  |  | — |  |  | — |  |  | 8,301 |  |  | 5,707 |  |  | — |  |  | — |  |  |  |  | 5,707 |
Cost of sales - industrial operations | — |  |  | 3,376 |  |  | — |  |  | — |  |  | 3,376 |  |  | — |  |  | 3,523 |  |  | — |  |  |  |  | 3,523 |
Cost of sales - manufacturing operations | — |  |  | — |  |  | — |  |  | 23,285 |  |  | 23,285 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Cost of production | — |  |  | — |  |  | 11,880 |  |  | — |  |  | 11,880 |  |  | — |  |  | — |  |  | 11,729 |  |  |  |  | 11,729 |
Total cost of revenues | 8,301 |  |  | 3,376 |  |  | 11,880 |  |  | 23,285 |  |  | 46,842 |  |  | 5,707 |  |  | 3,523 |  |  | 11,729 |  |  |  |  | 20,959 |
Segment gross (loss) profit | (506) |  |  | 3,284 |  |  | 2,296 |  |  | 7,530 |  |  | 12,604 |  |  | (5,221) |  |  | 3,484 |  |  | 4,088 |  |  |  |  | 2,351 |
Other operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses and sales and marketing expenses | 1,914 |  |  | 2,996 |  |  | 1,162 |  |  | 6,404 |  |  | 12,476 |  |  | 1,917 |  |  | 3,585 |  |  | 1,024 |  |  |  |  | 6,526 |
Segment operating (loss) income | $ | (2,420) |  |  | $ | 288 |  |  | $ | 1,134 |  |  | $ | 1,126 |  |  | 128 |  |  | $ | (7,138) |  |  | $ | (101) |  |  | $ | 3,064 |  |  |  |  | (4,175) |
Parent general and administrative expenses |  |  |  |  |  |  |  |  | 6,554 |  |  |  |  |  |  |  |  |  |  | 6,097 |
Operating loss |  |  |  |  |  |  |  |  | (6,426) |  |  |  |  |  |  |  |  |  |  | (10,272) |
Total other expense |  |  |  |  |  |  |  |  | 3,064 |  |  |  |  |  |  |  |  |  |  | 4,112 |
Loss before income taxes |  |  |  |  |  |  |  |  | $ | (3,362) |  |  |  |  |  |  |  |  |  |  | $ | (6,160) |
The Company’s reportable segment information is as follows:
| Nine Months Ended September 30,
| 2025 |  | 2024
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufactur- ing Operations |  | Total |  | Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  |  |  | Total
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
License fees | $ | 78,029 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 78,029 |  |  | $ | 19,442 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 19,442 |
Revenues - industrial operations | — |  |  | 20,926 |  |  | — |  |  | — |  |  | 20,926 |  |  | — |  |  | 22,183 |  |  | — |  |  |  |  | 22,183 |
Oil sales | — |  |  | — |  |  | 21,480 |  |  | — |  |  | 21,480 |  |  | — |  |  | — |  |  | 17,740 |  |  |  |  | 17,740 |
Natural gas sales | — |  |  | — |  |  | 13,112 |  |  | — |  |  | 13,112 |  |  | — |  |  | — |  |  | 5,550 |  |  |  |  | 5,550 |
Natural gas liquids sales | — |  |  | — |  |  | 11,779 |  |  | — |  |  | 11,779 |  |  | — |  |  | — |  |  | 8,390 |  |  |  |  | 8,390 |
Other service sales | — |  |  | — |  |  | 1,428 |  |  | — |  |  | 1,428 |  |  | — |  |  | — |  |  | 163 |  |  |  |  | 163 |
Air distribution | — |  |  | — |  |  | — |  |  | 29,684 |  |  | 29,684 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Transportation safety | — |  |  | — |  |  | — |  |  | 32,420 |  |  | 32,420 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Office products | — |  |  | — |  |  | — |  |  | 26,247 |  |  | 26,247 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Total revenues | 78,029 |  |  | 20,926 |  |  | 47,799 |  |  | 88,351 |  |  | 235,105 |  |  | 19,442 |  |  | 22,183 |  |  | 31,843 |  |  |  |  | 73,468 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales - intellectual property operations | 42,771 |  |  | — |  |  | — |  |  | — |  |  | 42,771 |  |  | 18,473 |  |  | — |  |  | — |  |  |  |  | 18,473 |
Cost of sales - industrial operations | — |  |  | 10,846 |  |  | — |  |  | — |  |  | 10,846 |  |  | — |  |  | 10,849 |  |  | — |  |  |  |  | 10,849 |
Cost of sales - manufacturing operations | — |  |  | — |  |  | — |  |  | 66,518 |  |  | 66,518 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Cost of production | — |  |  | — |  |  | 36,887 |  |  | — |  |  | 36,887 |  |  | — |  |  | — |  |  | 23,082 |  |  |  |  | 23,082 |
Total cost of revenues | 42,771 |  |  | 10,846 |  |  | 36,887 |  |  | 66,518 |  |  | 157,022 |  |  | 18,473 |  |  | 10,849 |  |  | 23,082 |  |  |  |  | 52,404 |
Segment gross profit | 35,258 |  |  | 10,080 |  |  | 10,912 |  |  | 21,833 |  |  | 78,083 |  |  | 969 |  |  | 11,334 |  |  | 8,761 |  |  |  |  | 21,064 |
Other operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses and sales and marketing expenses | 6,783 |  |  | 9,416 |  |  | 3,684 |  |  | 21,062 |  |  | 40,945 |  |  | 7,078 |  |  | 10,457 |  |  | 2,292 |  |  |  |  | 19,827 |
Segment operating income (loss) | $ | 28,475 |  |  | $ | 664 |  |  | $ | 7,228 |  |  | $ | 771 |  |  | 37,138 |  |  | $ | (6,109) |  |  | $ | 877 |  |  | $ | 6,469 |  |  |  |  | 1,237 |
Parent general and administrative expenses |  |  |  |  |  |  |  |  | 17,644 |  |  |  |  |  |  |  |  |  |  | 18,354 |
Operating income (loss) |  |  |  |  |  |  |  |  | 19,494 |  |  |  |  |  |  |  |  |  |  | (17,117) |
Total other expense (income) |  |  |  |  |  |  |  |  | 5,863 |  |  |  |  |  |  |  |  |  |  | (6,231) |
Income (loss) before income taxes |  |  |  |  |  |  |  |  | $ | 25,357 |  |  |  |  |  |  |  |  |  |  | $ | (23,348) |
Schedule of Segment Reporting Information, by Segment |
| September 30, 2025 |  | December 31, 2024
| (In thousands)
Total parent assets | $ | 126,544 |  |  | $ | 150,033 |
Segment total assets: |  |  |
Intellectual property operations | 250,813 |  |  | 213,854 |
Industrial operations | 50,876 |  |  | 48,438 |
Energy operations | 207,206 |  |  | 209,355 |
Manufacturing operations | 133,432 |  |  | 134,714 |
Total assets | $ | 768,871 |  |  | $ | 756,394 |
Revenue from External Customers by Geographic Areas |
| Three Months Ended September 30,
| 2025 |  | 2024
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufactur- ing Operations |  | Total |  | Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  |  |  | Total
| (In thousands)
Revenues by geographic area: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States | $ | 7,795 |  |  | $ | 3,281 |  |  | $ | 14,176 |  |  | $ | 17,404 |  |  | $ | 42,656 |  |  | $ | 483 |  |  | $ | 3,074 |  |  | $ | 15,817 |  |  |  |  | $ | 19,374 |
Canada and Latin America | — |  |  | 416 |  |  | — |  |  | 6,040 |  |  | 6,456 |  |  | 2 |  |  | 233 |  |  | — |  |  |  |  | 235 |
Total Americas | 7,795 |  |  | 3,697 |  |  | 14,176 |  |  | 23,444 |  |  | 49,112 |  |  | 485 |  |  | 3,307 |  |  | 15,817 |  |  |  |  | 19,609 |
Europe, Middle East and Africa | — |  |  | 1,299 |  |  | — |  |  | 1,275 |  |  | 2,574 |  |  | — |  |  | 1,689 |  |  | — |  |  |  |  | 1,689 |
China | — |  |  | 372 |  |  | — |  |  | 6,096 |  |  | 6,468 |  |  | — |  |  | 306 |  |  | — |  |  |  |  | 306 |
India | — |  |  | 391 |  |  | — |  |  | — |  |  | 391 |  |  | — |  |  | 633 |  |  | — |  |  |  |  | 633 |
Asia-Pacific, excluding China and India | — |  |  | 901 |  |  | — |  |  | — |  |  | 901 |  |  | 1 |  |  | 1,072 |  |  | — |  |  |  |  | 1,073 |
Total Asia-Pacific | — |  |  | 1,664 |  |  | — |  |  | 6,096 |  |  | 7,760 |  |  | 1 |  |  | 2,011 |  |  | — |  |  |  |  | 2,012 |
Total revenues | $ | 7,795 |  |  | $ | 6,660 |  |  | $ | 14,176 |  |  | $ | 30,815 |  |  | $ | 59,446 |  |  | $ | 486 |  |  | $ | 7,007 |  |  | $ | 15,817 |  |  |  |  | $ | 23,310 |
| Nine Months Ended September 30,
| 2025 |  | 2024
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufactur- ing Operations |  | Total |  | Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  |  |  | Total
| (In thousands)
Revenues by geographic area: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States | $ | 78,027 |  |  | $ | 9,046 |  |  | $ | 47,799 |  |  | $ | 51,793 |  |  | $ | 186,665 |  |  | $ | 7,878 |  |  | $ | 9,106 |  |  | $ | 31,843 |  |  |  |  | $ | 48,827 |
Canada and Latin America | — |  |  | 1,090 |  |  | — |  |  | 17,808 |  |  | 18,898 |  |  | 3 |  |  | 719 |  |  | — |  |  |  |  | 722 |
Total Americas | 78,027 |  |  | 10,136 |  |  | 47,799 |  |  | 69,601 |  |  | 205,563 |  |  | 7,881 |  |  | 9,825 |  |  | 31,843 |  |  |  |  | 49,549 |
Europe, Middle East and Africa | — |  |  | 5,382 |  |  | — |  |  | 3,650 |  |  | 9,032 |  |  | — |  |  | 5,872 |  |  | — |  |  |  |  | 5,872 |
China | — |  |  | 1,087 |  |  | — |  |  | 15,100 |  |  | 16,187 |  |  | 4,650 |  |  | 1,056 |  |  | — |  |  |  |  | 5,706 |
India | — |  |  | 1,474 |  |  | — |  |  | — |  |  | 1,474 |  |  | — |  |  | 2,068 |  |  | — |  |  |  |  | 2,068 |
Asia-Pacific, excluding China and India | 2 |  |  | 2,847 |  |  | — |  |  | — |  |  | 2,849 |  |  | 6,911 |  |  | 3,362 |  |  | — |  |  |  |  | 10,273 |
Total Asia-Pacific | 2 |  |  | 5,408 |  |  | — |  |  | 15,100 |  |  | 20,510 |  |  | 11,561 |  |  | 6,486 |  |  | — |  |  |  |  | 18,047 |
Total revenues | $ | 78,029 |  |  | $ | 20,926 |  |  | $ | 47,799 |  |  | $ | 88,351 |  |  | $ | 235,105 |  |  | $ | 19,442 |  |  | $ | 22,183 |  |  | $ | 31,843 |  |  |  |  | $ | 73,468 |
Long-lived Assets by Geographic Areas |
| September 30, 2025
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufactur- ing Operations |  | Total
| (In thousands)
Long-lived tangible assets by geographic area: |  |  |  |  |  |  |  |  |
United States | $ | 97 |  |  | $ | 172 |  |  | $ | 190,151 |  |  | $ | 6,943 |  |  | $ | 197,363 |
Canada | — |  |  | 546 |  |  | — |  |  | 6,505 |  |  | 7,051 |
Europe | — |  |  | 226 |  |  | — |  |  | 4,111 |  |  | 4,337 |
Asia-Pacific | — |  |  | — |  |  | — |  |  | 2,314 |  |  | 2,314 |
Total | $ | 97 |  |  | $ | 944 |  |  | $ | 190,151 |  |  | $ | 19,873 |  |  | $ | 211,065 |
| December 31, 2024
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufactur- ing Operations |  | Total
| (In thousands)
Long-lived tangible assets by geographic area: |  |  |  |  |  |  |  |  |
United States | $ | 126 |  |  | $ | 220 |  |  | $ | 192,435 |  |  | $ | 7,685 |  |  | $ | 200,466 |
Canada | — |  |  | — |  |  | — |  |  | 7,225 |  |  | 7,225 |
Europe | — |  |  | 99 |  |  | — |  |  | 4,257 |  |  | 4,356 |
Asia-Pacific | — |  |  | 925 |  |  | — |  |  | 2,573 |  |  | 3,498 |
Total | $ | 126 |  |  | $ | 1,244 |  |  | $ | 192,435 |  |  | $ | 21,740 |  |  | $ | 215,545 |

X
- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration