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DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | 12 Months Ended
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Dec. 31, 2021
Accounting Policies [Abstract] |
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | NOTE 1 DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Perma-Fix Environmental Services, Inc. (the Company, which may be referred to as we, us, or our), an environmental and technology know-how company, is a Delaware corporation, engaged through its subsidiaries, in three reportable segments: TREATMENT SEGMENT, which includes:
| - | nuclear, low-level radioactive, mixed waste (containing both hazardous and low-level radioactive constituents), hazardous and non-hazardous waste treatment, processing and disposal services primarily through four uniquely licensed and permitted treatment and storage facilities; and
| - | R&D activities to identify, develop and implement innovative waste processing techniques for problematic waste streams.
SERVICES SEGMENT, which includes:
| - | Technical services, which include:
|  | ○ | professional radiological measurement and site survey of large government and commercial installations using advanced methods, technology and engineering;
|  | ○ | integrated Occupational Safety and Health services including IH assessments; hazardous materials surveys, e.g., exposure monitoring; lead and asbestos management/abatement oversight; indoor air quality evaluations; health risk and exposure assessments; health & safety plan/program development, compliance auditing and training services; and OSHA citation assistance;
|  | ○ | global technical services providing consulting, engineering, project management, waste management, environmental, and decontamination and decommissioning field, technical, and management personnel and services to commercial and government customers; and
|  | ○ | on-site waste management services to commercial and governmental customers.
| - | Nuclear services, which include:
|  | ○ | technology-based services including engineering, D&D, specialty services and construction, logistics, transportation, processing and disposal;
|  | ○ | remediation of nuclear licensed and federal facilities and the remediation cleanup of nuclear legacy sites. Such services capability includes: project investigation; radiological engineering; partial and total plant D&D; facility decontamination, dismantling, demolition, and planning; site restoration; logistics; transportation; and emergency response; and
| - | A company owned equipment calibration and maintenance laboratory that services, maintains, calibrates, and sources (i.e., rental) health physics, IH and customized NEOSH instrumentation.
MEDICAL SEGMENT, which included: R&D of the Company’s medical isotope production technology by the Company’s majority-owned (approximately 60.54%) Polish subsidiary, Perma-Fix Medical S.A (“PFM Poland”), and PFM Poland’s wholly-owned subsidiary, Perma-Fix Medical Corporation (“PFMC”). The Company’s Medical Segment (or “PF Medical”) had not generated any revenue. During December 2021, the Company made the strategic decision to cease all R&D activities under the Medical Segment which resulted in the sale of 100% of PFM Poland (See “Note 14 – PF Medical” for a discussion of this sale). The Company’s continuing operations consist of the operations of our subsidiaries/facilities as follow: Diversified Scientific Services, Inc. (“DSSI”), Perma-Fix of Florida, Inc. (“PFF”), Perma-Fix of Northwest Richland, Inc. (“PFNWR”), Safety & Ecology Corporation (“SEC”), Perma-Fix Environmental Services UK Limited (“PF UK Limited”), Perma-Fix of Canada, Inc. (“PF Canada”), PF Medical, East Tennessee Materials & Energy Corporation (“M&EC”) (facility closure completed in 2019), Oak Ridge Environmental Waste Operations Center (“EWOC”) and Perma-Fix ERRG, a variable interest entity (“VIE”) for which we are the primary beneficiary (See “Note 20 - Variable Interest Entities (“VIE”)” for a discussion of this VIE). The Company’s discontinued operations (see Note 9) consist of operations of all our subsidiaries included in our Industrial Segment which encompasses subsidiaries divested in 2011 and prior and three previously closed locations. Financial Positions and Liquidity The Company’s 2021 financial results continued to be impacted by COVID-19 where we experienced continued waste shipment delays from certain customers within our Treatment Segment. However, the Company expects to see a gradual return in waste receipts from these customers starting in the second quarter of 2022 as the Company expects these customers to start easing up on COVID-19 restrictions, including reinstating return-to-work schedule in the upcoming months. Additionally, as a result of the constraint in supply chain, our Treatment Segment experienced a delay in the delivery of a new technology waste processing unit from our supplier which negatively impacted our revenue as the associated revenue was not able to be generated. Delivery of this unit had been expected during the third quarter of 2021 but did not occur until the first quarter of 2022. The Company’s Services Segment experienced delays in procurement actions and contract awards resulting primarily from the impact of COVID-19 in the first half of 2021. Since the end of the second quarter of 2021, the Services Segment was awarded a number of new contracts but due to customer administrative delay and/or continued COVID-19 impact experienced by certain customers, work under certain of these new awards was temporarily curtailed/delayed which negatively impacted our revenue. We expect to see a ramp-up in activities from certain of these new projects starting in the second quarter of 2022. The Company’s cash flow requirements during the twelve months ended December 31, 2021 were primarily financed by our operations, our credit facility availability and an equity raise that the Company consummated at the end of the third quarter of 2021. The Company received approximately $6,200,000 in gross proceeds from this equity raise for the sale and issuance of 1,000,000 shares of the Company’s Common Stock (see “Note 7 – Common Stock Subscription Agreement” for a discussing of this equity raise). At December 31, 2021, the Company had borrowing availability under its revolving credit facility of approximately $8,692,000 which was based on a percentage of eligible receivables and subject to certain reserves and included its cash on hand of approximately $4,440,000. The Company has ceased all R&D activities under its Medical Segment and sold its majority-owned subsidiary, PFM Poland (see “Note 14 – PF Medical” for a discussion of the sale of PFM Poland). The Company’s cash flow requirements for the next twelve months will consist primarily of general working capital needs, scheduled principal payments on our debt obligations, remediation projects, and planned capital expenditures. We plan to fund these requirements from our operations, credit facility availability, our capital expenditure line, and cash on hand. We are continually reviewing operating costs and reviewing the possibility of further reducing operating costs and non-essential expenditures to bring them in line with revenue levels, when necessary. At this time, we believe that our cash flows from operations, our available liquidity from our credit facility, our capital expenditure line and our cash on hand should be sufficient to fund our operations for the next twelve months. As the situations surrounding COVID-19 continues to remain fluid, the full impact and extent of the pandemic on our financial results and liquidity cannot be estimated with any degree of certainty. We continue to closely monitor the impact of the COVID-19 pandemic on all aspects of our business.

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- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -URI http://asc.fasb.org/topic&trid=2122149 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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