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SEGMENT AND CUSTOMERS INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT AND CUSTOMERS INFORMATION

21. SEGMENT AND CUSTOMERS INFORMATION

 

The Company had the following reportable segments as of June 30, 2025 and 2024; see Note 1 for a brief description of the Company’s business.

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the six months ended June 30, 2025:

                                        
   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $25,351,000   $-   $-   $25,351,000 
Revenue, crypto assets mining   -    -    9,882,000    -    -    -    -    9,882,000 
Revenue, hotel and real estate operations   -    -    761,000    8,526,000    -    -    -    9,287,000 
Revenue, lending and trading activities   -    1,798,000    -    -    -    -    -    1,798,000 
Revenue, other   3,284,000    -    -    -    29,000    2,000    1,244,000    4,559,000 
Total revenue   3,284,000    1,798,000    10,643,000    8,526,000    25,380,000    2,000    1,244,000    50,877,000 
Cost of revenue   1,873,000    -    14,105,000    6,129,000    16,505,000    206,000    649,000    39,467,000 
Gross profit (loss)   1,411,000    1,798,000    (3,462,000)   2,397,000    8,875,000    (204,000)   595,000    11,410,000 
Operating expenses                                        
Research and development   231,000    -    -    -    -    10,000    -    241,000 
Selling and marketing   494,000    -    -    -    -    8,117,000    -    8,611,000 
General and administrative   1,969,000    353,000    (337,000)   2,877,000    4,346,000    -    9,861,000    19,069,000 
Total operating expenses   2,694,000    353,000    (337,000)   2,877,000    4,346,000    8,127,000    9,861,000    27,921,000 
(Loss) income from operations  $(1,283,000)  $1,445,000   $(3,125,000)  $(480,000)  $4,529,000   $(8,331,000)  $(9,266,000)   (16,511,000)
Other income (expense):                                        
Interest and other income                                      1,321,000 
Interest expense                                      (11,503,000)
Loss on extinguishment of debt                                      (4,569,000)
Gain on deconsolidation of subsidiary                                      9,690,000 
Loss on the sale of fixed assets                                      (559,000)
Total other expense, net                                      (5,620,000)
Loss before income taxes                                     $(22,131,000)
                                         
Depreciation and amortization expense  $39,000   $-   $5,078,000   $1,663,000   $2,201,000   $39,000   $957,000   $9,977,000 
                                         
 Interest expense  $(15,000)  $-   $(1,000)  $(3,974,000)  $(1,283,000)  $(432,000)  $(5,798,000)  $(11,503,000)
                                         
Capital expenditures for the six months ended June 30, 2025  $-   $-   $1,674,000   $163,000   $1,398,000   $37,000   $5,000   $3,277,000 
                                         
Segment identifiable assets as of June 30, 2025  $2,581,000   $19,863,000   $31,525,000   $68,543,000   $42,576,000   $1,265,000   $46,853,000   $213,206,000 

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the three months ended June 30, 2025:

 

                                         
   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $11,582,000   $-   $-   $11,582,000 
Revenue, crypto assets mining   -    -    4,684,000    -    -    -    -    4,684,000 
Revenue, hotel and real estate operations   -    -    245,000    5,377,000    -    -    -    5,622,000 
Revenue, lending and trading activities   -    1,826,000    -    -    -    -    -    1,826,000 
Revenue, other   1,692,000    -    -    -    -    3,000    447,000    2,142,000 
Total revenue   1,692,000    1,826,000    4,929,000    5,377,000    11,582,000    3,000    447,000    25,856,000 
Cost of revenue   1,012,000    -    7,074,000    3,285,000    8,141,000    -    217,000    19,729,000 
Gross profit (loss)   680,000    1,826,000    (2,145,000)   2,092,000    3,441,000    3,000    230,000    6,127,000 
Operating expenses                                        
Research and development   106,000    -    -    -    -    6,000    -    112,000 
Selling and marketing   248,000    -    -    -    -    6,029,000    -    6,277,000 
General and administrative   831,000    233,000    (286,000)   1,514,000    2,009,000    -    5,564,000    9,865,000 
Total operating expenses   1,185,000    233,000    (286,000)   1,514,000    2,009,000    6,035,000    5,564,000    16,254,000 
(Loss) income from operations  $(505,000)  $1,593,000   $(1,859,000)  $578,000   $1,432,000   $(6,032,000)  $(5,334,000)   (10,127,000)
Other income (expense):                                        
Interest and other income                                      1,081,000 
Interest expense                                      (7,664,000)
Gain on deconsolidation of subsidiary                                      (359,000)
Loss on the sale of fixed assets                                      (398,000)
Total other expense, net                                      (7,340,000)
Loss before income taxes                                     $(17,467,000)
                                         
Depreciation and amortization expense  $20,000   $-   $2,494,000   $691,000   $1,073,000   $20,000   $478,000   $4,776,000 
                                         
Interest expense  $(8,000)  $-   $-   $(2,135,000)  $(380,000)  $(207,000)  $(4,934,000)  $(7,664,000)
                                         
Capital expenditures for the three months ended June 30, 2025  $-   $-   $53,000   $68,000   $260,000   $14,000   $2,000   $397,000 

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the six months ended June 30, 2024:

 

                                         
   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $24,618,000   $-   $-   $24,618,000 
Revenue, crypto assets mining   -    -    19,937,000    -    -    -    -    19,937,000 
Revenue, hotel and real estate operations   -    -    557,000    8,140,000    -    -    -    8,697,000 
Revenue, lending and trading activities   -    (664,000)   -    -    -    -    -    (664,000)
Revenue, other   2,461,000    -    -    -    68,000    67,000    973,000    3,569,000 
Total revenue   2,461,000    (664,000)   20,494,000    8,140,000    24,686,000    67,000    973,000    56,157,000 
Cost of revenue   1,336,000    -    17,583,000    6,135,000    16,199,000    1,000    503,000    41,757,000 
Gross profit (loss)   1,125,000    (664,000)   2,911,000    2,005,000    8,487,000    66,000    470,000    14,400,000 
Operating expenses                                        
Research and development   213,000    -    -    -    -    -    -    213,000 
Selling and marketing   693,000    -    -    -    -    7,080,000    -    7,773,000 
General and administrative   1,521,000    186,000    90,000    1,632,000    7,537,000    -    10,766,000    21,732,000 
Impairment of property and equipment   -    -    -    7,955,000    -    -    -    7,955,000 
Total operating expenses   2,427,000    186,000    90,000    9,587,000    7,537,000    7,080,000    10,766,000    37,673,000 
(Loss) income from operations  $(1,302,000)  $(850,000)  $2,821,000   $(7,582,000)  $950,000   $(7,014,000)  $(10,296,000)   (23,273,000)
Other income (expense):                                        
Interest and other income                                      1,243,000 
Interest expense                                      (10,950,000)
Gain on conversion of investment in equity securities to marketable equity securities                             17,900,000 
Gain on extinguishment of debt                                      742,000 
Loss from investment in unconsolidated entity                                      (1,958,000)
Impairment of equity securities                                      (6,266,000)
Provision for loan losses, related party                                      (3,068,000)
Gain on the sale of fixed assets                                      32,000 
Total other expense, net                                      (2,325,000)
Loss before income taxes                                     $(25,598,000)
                                         
Depreciation and amortization expense  $48,000   $-   $8,152,000   $391,000   $2,087,000   $38,000   $1,032,000   $11,748,000 
                                         
Interest expense  $(157,000)  $(8,000)  $(118,000)  $(2,983,000)  $(2,011,000)  $(2,543,000)  $(3,130,000)  $(10,950,000)
                                         
Capital expenditures for the six months ended June 30, 2024  $8,000   $-   $985,000   $662,000   $1,866,000   $59,000   $73,000   $3,653,000 
                                         
Segment identifiable assets as of December 31, 2024  $3,050,000   $6,676,000   $35,260,000   $69,130,000   $45,524,000   $1,130,000   $59,701,000   $220,471,000 

 

The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the three months ended June 30, 2024:

 

                                         
   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $11,700,000   $-   $-   $11,700,000 
Revenue, crypto assets mining   -    -    8,490,000    -    -    -    -    8,490,000 
Revenue, hotel and real estate operations   -    -    255,000    5,134,000    -    -    -    5,389,000 
Revenue, lending and trading activities   -    (9,763,000)   -    -    -    -    -    (9,763,000)
Revenue, other   1,236,000    -    -    -    29,000    39,000    672,000    1,976,000 
Total revenue   1,236,000    (9,763,000)   8,745,000    5,134,000    11,729,000    39,000    672,000    17,792,000 
Cost of revenue   669,000    -    9,039,000    3,318,000    8,208,000    -    346,000    21,580,000 
Gross profit (loss)   567,000    (9,763,000)   (294,000)   1,816,000    3,521,000    39,000    326,000    (3,788,000)
Operating expenses                                        
Research and development   102,000    -    -    -    -    -    -    102,000 
Selling and marketing   333,000    -    -    -    -    3,392,000    -    3,725,000 
General and administrative   940,000    95,000    254,000    1,225,000    3,759,000    -    5,087,000    11,360,000 
Impairment of property and equipment   -    -    -    7,955,000    -    -    -    7,955,000 
Total operating expenses   1,375,000    95,000    254,000    9,180,000    3,759,000    3,392,000    5,087,000    23,142,000 
Loss from operations  $(808,000)  $(9,858,000)  $(548,000)  $(7,364,000)  $(238,000)  $(3,353,000)  $(4,761,000)   (26,930,000)
Other income (expense):                                        
Interest and other income                                      720,000 
Interest expense                                      (5,319,000)
Loss on extinguishment of debt                                      (663,000)
Loss from investment in unconsolidated entity                                  (1,291,000)
Gain on the sale of fixed assets                                      (36,000)
Total other expense, net                                      (6,589,000)
Loss before income taxes                                     $(33,519,000)
                                         
Depreciation and amortization expense  $24,000   $-   $4,101,000   $391,000   $1,057,000   $20,000   $518,000   $6,111,000 
                                         
Interest expense  $(88,000)  $(3,000)  $-   $(960,000)  $(944,000)  $(942,000)  $(2,304,000)  $(5,241,000)
                                         
Capital expenditures for the year ended December 31, 2023  $-   $-   $692,000   $73,000   $1,415,000   $29,000   $24,000   $2,233,000