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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 18 SEGMENT REPORTING In accordance with ASC 280, “Segment Reporting”, we define an operating segment as a business activity:
| ● | from which we may earn revenue and incur expenses;
| ● | whose operating results are regularly reviewed by the CODM to make decisions about resources to be allocated to the segment and assess its performance; and
| ● | for which discrete financial information is available.
We have three reporting segments, which include Treatment and Services Segments, which are based on a service offering approach; and Medical, whose primary purpose was the R&D of a medical isotope production technology. The Medical Segment had not generated any revenues. 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 its interest of PFM Poland (see “Note 14 – PF Medical” for a discussion of this transaction). Our reporting segments exclude our corporate headquarter, business center and our discontinued operations (see “Note 9 – Discontinued Operations”) which do not generate revenues. The table below shows certain financial information of our reporting segments as of and for the years ended December 31, 2021 and 2020 (in thousands). SCHEDULE OF SEGMENT REPORTING INFORMATION Segment Reporting as of and for the year ended December 31, 2021
|  | Treatment |  |  | Services |  |  | Medical |  |  | Segments Total |  |  | Corporate (2) |  |  | Consolidated Total |
Revenue from external customers |  | $ | 32,992 |  |  | $ | 39,199 |  |  |  | — |  |  | $ | 72,191 | (3)(4) |  | $ | — |  |  | $ | 72,191 |
Intercompany revenues |  |  | 1,265 |  |  |  | 47 |  |  |  | — |  |  |  | 1,312 |  |  |  | — |  |  |  | — |
Gross profit |  |  | 6,718 |  |  |  | 106 |  |  |  | — |  |  |  | 6,824 |  |  |  | — |  |  |  | 6,824 |
Research and development |  |  | 221 |  |  |  | 71 |  |  |  | 414 |  |  |  | 706 |  |  |  | 40 |  |  |  | 746 |
Interest income |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 25 |  |  |  | 26 |
Interest expense |  |  | (100 | ) |  |  | (10 | ) |  |  | — |  |  |  | (110 | ) |  |  | (137 | ) |  |  | (247 | )
Interest expense-financing fees |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (1) |  |  |  | (40 | ) |  |  | (41 | )
Depreciation and amortization |  |  | 1,306 |  |  |  | 353 |  |  |  | — |  |  |  | 1,659 |  |  |  | 28 |  |  |  | 1,687 |
Segment income (loss) before income taxes |  |  | 2,283 |  |  |  | (3,044 | ) |  |  | (1,476) | (11)(12) |  |  | (2,237 | ) |  |  | (561) | (9)(11) |  |  | (2,798 | )
Income tax (benefit) expense |  |  | (150 | ) |  |  | (962 | ) |  |  | 26 |  |  |  | (1,086 | ) |  |  | (2,804 | ) |  |  | (3,890) | (10)
Segment income (loss) |  |  | 2,433 |  |  |  | (2,082 | ) |  |  | (1,502 | ) |  |  | (1,151 | ) |  |  | 2,243 |  |  |  | 1,092 |
Segment assets(1) |  |  | 37,050 |  |  |  | 15,244 | (8) |  |  | 48 |  |  |  | 52,342 |  |  |  | 24,959 | (5) |  |  | 77,301 |
Expenditures for segment assets (net) |  |  | 1,363 |  |  |  | 205 |  |  |  | — |  |  |  | 1,568 |  |  |  | 9 |  |  |  | 1,577 | (7)
Total debt |  |  | 25 |  |  |  | 14 |  |  |  | — |  |  |  | 39 |  |  |  | 954 |  |  |  | 993 | (6)
Segment Reporting as of and for the year ended December 31, 2020
|  | Treatment |  |  | Services |  |  | Medical |  |  | Segments Total |  |  | Corporate (2) |  |  | Consolidated Total |
Revenue from external customers |  | $ | 30,143 |  |  | $ | 75,283 |  |  |  | — |  |  | $ | 105,426 | (3)(4) |  | $ | — |  |  | $ | 105,426 |
Intercompany revenues |  |  | 1,493 |  |  |  | 25 |  |  |  | — |  |  |  | 1,518 |  |  |  | — |  |  |  | — |
Gross profit |  |  | 5,491 |  |  |  | 10,402 |  |  |  | — |  |  |  | 15,893 |  |  |  | — |  |  |  | 15,893 |
Research and development |  |  | 243 |  |  |  | 132 |  |  |  | 311 |  |  |  | 686 |  |  |  | 76 |  |  |  | 762 |
Interest income |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 139 |  |  |  | 140 |
Interest expense |  |  | (115 | ) |  |  | (27 | ) |  |  | — |  |  |  | (142 | ) |  |  | (256 | ) |  |  | (398 | )
Interest expense-financing fees |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (294 | ) |  |  | (294 | )
Depreciation and amortization |  |  | 1,204 |  |  |  | 354 |  |  |  | — |  |  |  | 1,558 |  |  |  | 38 |  |  |  | 1,596 |
Segment income (loss) before income taxes |  |  | 1,494 |  |  |  | 7,826 |  |  |  | (311 | ) |  |  | 9,009 |  |  |  | (6,049 | ) |  |  | 2,960 |
Income tax (benefit) expense |  |  | (264 | ) |  |  | 6 |  |  |  | — |  |  |  | (258 | ) |  |  | 69 |  |  |  | (189 | )
Segment income (loss) |  |  | 1,758 |  |  |  | 7,820 |  |  |  | (311 | ) |  |  | 9,267 |  |  |  | (6,118 | ) |  |  | 3,149 |
Segment assets(1) |  |  | 32,324 |  |  |  | 22,368 | (8) |  |  | 17 |  |  |  | 54,709 |  |  |  | 24,210 | (5) |  |  | 78,919 |
Expenditures for segment assets (net) |  |  | 1,264 |  |  |  | 451 |  |  |  | — |  |  |  | 1,715 |  |  |  | — |  |  |  | 1,715 | (7)
Total debt |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | 23 |  |  |  | 6,706 |  |  |  | 6,729 | (6)
(1) | Segment assets have been adjusted for intercompany accounts to reflect actual assets for each segment.
(2) | Amounts reflect the activity for corporate headquarters not included in the segment information.
(3) | The Company performed services relating to waste generated by government clients (domestic and foreign (primarily Canadian)), either directly as a prime contractor or indirectly for others as a subcontractor to government entities, representing approximately 60,812,000 or 84.2% of total revenue for 2021 and 96,582,000 or 91.6% of total revenue for 2020. The following reflects such revenue generated by our two segments:
| (4) | The following table reflects revenue based on customer location:
(5) | Amount includes assets from our discontinued operations of $96,000 and $103,000 at December 31, 2021 and 2020, respectively.
(6) | Net of debt discount/debt issuance costs of ($112,000) and ($105,000) for 2021 and 2020, respectively (see “Note 10 – “Long-Term Debt” for additional information).
(7) | Net of financed amount of $585,000 and $883,000 for the year ended December 31, 2021 and 2020, respectively.
(8) | Includes long-lived asset (net) for our PF Canada, Inc. subsidiary of $25,000 and $33,000 for the year ended December 31, 2021 and 2020, respectively.
(9) | Amount includes approximately $5,381,000 of “Gain on extinguishment of debt” recorded in connection with the Company’s PPP Loan which was forgiven by the SBA effective June 15, 2021 (see “Note 10 – Long Term Debt – PPP Loan” for information of this loan forgiveness).
(10) | Includes tax benefit recorded in amount of approximately $2,351,000 resulting from release of valuation allowance on the Company’s deferred tax assets (see “Note 13 Income Taxes” for a discussion of this tax benefit).
(11) | Includes elimination of gain/loss of $2,537,000 in debt forgiveness between PFM Poland and the Company (see “Note 14 – PF Medical for a discussion of this debt forgiveness.
(12) | Amount includes a “Loss on deconsolidation of subsidiary” recorded in the amount of approximately $1,062,000 resulting from the sale of PFM Poland (see “Note 14 – PF Medical for a discussion of this loss).
SCHEDULE OF REVENUE BY MAJOR CUSTOMERS BY REPORTING SEGMENTS
|  | 2021 |  |  | 2020 |
|  | Treatment |  |  | Services |  |  | Total |  |  | Treatment |  |  | Services |  |  | Total |
Domestic government |  | $ | 22,538 |  |  | $ | 29,013 |  |  | $ | 51,551 |  |  | $ | 22,795 |  |  | $ | 68,237 |  |  | $ | 91,032 |
Foreign government |  |  | 577 |  |  |  | 8,684 |  |  |  | 9,261 |  |  |  | 415 |  |  |  | 5,135 |  |  |  | 5,550 |
Total |  | $ | 23,115 |  |  | $ | 37,697 |  |  | $ | 60,812 |  |  | $ | 23,210 |  |  | $ | 73,372 |  |  | $ | 96,582 |
| (4) | The following table reflects revenue based on customer location:
SCHEDULE OF REVENUE BASED ON CUSTOMER LOCATION
|  | 2021 |  |  | 2020 |
United States |  | $ | 62,257 |  |  | $ | 99,790 |
Canada |  |  | 9,277 |  |  |  | 5,550 |
Germany |  |  | 567 |  |  |  | — |
United Kingdom |  |  | 90 |  |  |  | 86 |
Total |  | $ | 72,191 |  |  | $ | 105,426 |
(5) | Amount includes assets from our discontinued operations of $96,000 and $103,000 at December 31, 2021 and 2020, respectively.
(6) | Net of debt discount/debt issuance costs of ($112,000) and ($105,000) for 2021 and 2020, respectively (see “Note 10 – “Long-Term Debt” for additional information).
(7) | Net of financed amount of $585,000 and $883,000 for the year ended December 31, 2021 and 2020, respectively.
(8) | Includes long-lived asset (net) for our PF Canada, Inc. subsidiary of $25,000 and $33,000 for the year ended December 31, 2021 and 2020, respectively.
(9) | Amount includes approximately $5,381,000 of “Gain on extinguishment of debt” recorded in connection with the Company’s PPP Loan which was forgiven by the SBA effective June 15, 2021 (see “Note 10 – Long Term Debt – PPP Loan” for information of this loan forgiveness).
(10) | Includes tax benefit recorded in amount of approximately $2,351,000 resulting from release of valuation allowance on the Company’s deferred tax assets (see “Note 13 Income Taxes” for a discussion of this tax benefit).
(11) | Includes elimination of gain/loss of $2,537,000 in debt forgiveness between PFM Poland and the Company (see “Note 14 – PF Medical for a discussion of this debt forgiveness.
(12) | Amount includes a “Loss on deconsolidation of subsidiary” recorded in the amount of approximately $1,062,000 resulting from the sale of PFM Poland (see “Note 14 – PF Medical for a discussion of this loss).

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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