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GEOGRAPHIC AND SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2020
GEOGRAPHIC AND SEGMENT INFORMATION |
GEOGRAPHIC AND SEGMENT INFORMATION | 15. GEOGRAPHIC AND SEGMENT INFORMATION In addition to its corporate operations, the Company currently operates a graphite battery-materials reportable segment. During the quarter ended September 30, 2020, the Company made the strategic decision to sell its uranium business and discontinue its lithium business, both of which conducted exploration, standby operations and restoration and reclamation activities (see Note 8). As a result of entering into the LOI to sell the uranium business and the Company’s decision to discontinue investment into its lithium business, the Company has reclassed all uranium and lithium business activities as discontinued operations. The reportable segments are those operations whose operating results are reviewed by the Chief Executive Officer to make decisions about resources to be allocated to the segment and assess its performance provided those operations pass certain quantitative thresholds. Operations whose revenues, earnings or losses or assets exceed or are expected to exceed 10% of the total consolidated revenue, earnings or losses or assets are reportable segments. Information about current assets and liabilities of the segments has not been provided because the information is not used to assess performance. The tables below provide a breakdown of the long-term assets by reportable segments as of September 30, 2020 and December 31, 2019:
|  | September 30, 2020
(thousands of dollars) |  | Corporate |  | Graphite |  | Total
Net property, plant and equipment |  | $ | 24 |  | $ | 8,972 |  | $ | 8,996
Restricted cash |  |  | 797 |  |  | 10 |  |  | 807
Operating lease right of use assets |  |  | 383 |  |  | — |  |  | 383
Total long-term assets |  | $ | 1,204 |  | $ | 8,982 |  | $ | 10,186
|  | December 31, 2019
(thousands of dollars) |  | Corporate |  | Graphite |  | Total
Net property, plant and equipment |  | $ | 23 |  | $ | 8,972 |  | $ | 8,995
Restricted cash |  |  | 787 |  |  | 10 |  |  | 797
Operating lease right of use assets |  |  | 470 |  |  | — |  |  | 470
Total long-term assets |  | $ | 1,280 |  | $ | 8,982 |  | $ | 10,262
The tables below provide a breakdown of the reportable segments for the three months ended September 30, 2020 and September 30, 2019. Non-mining activities and other administrative operations are reported in the Corporate column.
|  | Three months Ended
|  | September 30, 2020
(thousands of dollars) |  | Corporate |  | Graphite |  | Total
Statement of Operations |  |  |  |  |  |  |  |  |
Mineral property expenses |  | $ | — |  | $ | 12 |  | $ | 12
Product development expenses |  |  | — |  |  | 1,641 |  |  | 1,641
General and administrative expenses |  |  | 1,347 |  |  | 189 |  |  | 1,536
Arbitration expenses |  |  | 171 |  |  | — |  |  | 171
Depreciation and amortization |  |  | (19) |  |  | — |  |  | (19)
|  |  | 1,499 |  |  | 1,842 |  |  | 3,341
Loss from operations |  |  | (1,499) |  |  | (1,842) |  |  | (3,341)
Other income/(expense) |  |  | (21) |  |  | — |  |  | (21)
Loss before taxes |  | $ | (1,520) |  | $ | (1,842) |  | $ | (3,362)
|  | Three months Ended
|  | September 30, 2019
(thousands of dollars) |  | Corporate |  | Graphite |  | Total
Statement of Operations |  |  |  |  |  |  |  |  |
Mineral property expenses |  | $ | — |  | $ | 12 |  | $ | 12
Product development expenses |  |  | — |  |  | 19 |  |  | 19
General and administrative |  |  | 936 |  |  | 67 |  |  | 1,003
Arbitration expenses |  |  | 146 |  |  | — |  |  | 146
Depreciation and amortization |  |  | 3 |  |  | — |  |  | 3
|  |  | 1,085 |  |  | 98 |  |  | 1,183
Loss from operations |  |  | (1,085) |  |  | (98) |  |  | (1,183)
Other income |  |  | 13 |  |  | — |  |  | 13
Loss before taxes |  | $ | (1,072) |  | $ | (98) |  | $ | (1,170)
The tables below provide a breakdown of the reportable segments for the nine months ended September 30, 2020 and September 30, 2019. Non-mining activities and other administrative operations are reported in the Corporate column.
|  | Nine months Ended
|  | September 30, 2020
(thousands of dollars) |  | Corporate |  | Graphite |  | Total
Statement of Operations |  |  |  |  |  |  |  |  |
Mineral property expenses |  | $ | — |  | $ | 18 |  | $ | 18
Product development expenses |  |  | — |  |  | 1,942 |  |  | 1,942
General and administrative |  |  | 3,630 |  |  | 476 |  |  | 4,106
Arbitration expenses |  |  | 868 |  |  | — |  |  | 868
Accretion of asset retirement costs |  |  | — |  |  | — |  |  | —
Depreciation and amortization |  |  | 5 |  |  | — |  |  | 5
|  |  | 4,503 |  |  | 2,436 |  |  | 6,939
Loss from continuing operations |  |  | (4,503) |  |  | (2,436) |  |  | (6,939)
Other income |  |  | (7) |  |  | — |  |  | (7)
Loss before taxes |  | $ | (4,496) |  | $ | (2,436) |  | $ | (6,932)
|  | Nine months Ended
|  | September 30, 2019
(thousands of dollars) |  | Corporate |  | Graphite |  | Total
Statement of Operations |  |  |  |  |  |  |  |  |
Mineral property expenses |  | $ | — |  | $ | 77 |  | $ | 77
Product development expenses |  |  | — |  |  | 51 |  |  | 51
General and administrative |  |  | 3,300 |  |  | 283 |  |  | 3,583
Arbitration expenses |  |  | 631 |  |  | — |  |  | 631
Accretion of asset retirement costs |  |  | — |  |  | — |  |  | —
Depreciation and amortization |  |  | 5 |  |  | — |  |  | 5
|  |  | 3,936 |  |  | 411 |  |  | 4,347
Loss from continuing operations |  |  | (3,936) |  |  | (411) |  |  | (4,347)
Other (expense) |  |  | (384) |  |  | — |  |  | (384)
Loss before taxes |  | $ | (4,320) |  | $ | (411) |  | $ | (4,731)

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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