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BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Business Segments - Schedule of Segment Reporting by Segment

Three-Month Period Ended June 30, 2024 Corporate		Bromine*				Crude  Salt*				Chemical  Products				Natural Gas				Segment  Total Operating Segment				Corporate				Total
Net revenue (external customers)		$	1,859,234			$	523,935			$	—			$	—			$	2,383,169			$	—			$	2,383,169
Net revenue (intersegment)			—				—				—				—				—				—				—
Income(loss) from operations before income tax benefit			(4,662,586	)			130,024				(339,254	)			(73,773	)			(4,945,589	)			(201,408	)			(5,146,997	)
Income tax benefit (expense)			1,162,252				(33,224	)			79,082				—				1,208,110				—				1,208,110
Income (loss) from operations after income tax benefit (expense)			(3,500,334	)			96,800				(260,172	)			(73,773	)			(3,737,479	)			(201,408	)			(3,938,887	)
Total assets			90,430,154				47,346,898				54,185,082				1,837,520				193,799,654				126,372				193,926,026
Depreciation and amortization			4,446,605				181,775				68,314				33,560				4,730,254				—				4,730,254
Capital expenditures			28,923,642				31,602,571				—				—				60,526,213				—				60,526,213

Business Segments - Schedule of Segment Reconciliations

		Three-Month Period Ended June 30,								Six-Month Period Ended June 30,
Reconciliations		2024				2023				2024				2023
Total segment operating Income (loss)		$	(4,945,589	)		$	(845,275	)		$	(10,146,029	)		$	(1,617,225	)
Corporate costs			(201,408	)			(68,179	)			(270,387	)			(128,139	)
Unrealized gain on translation of intercompany balance			—				(5,644	)			—				26,708
Income (loss) from operations			(5,146,997	)			(919,098	)			(10,416,416	)			(1,718,656	)
Other income, net of expense			9,977				44,583				21,207				85,838
Other Expenses			(29,169,008	)			—				(29,173,011	)			—
Income (loss) before taxes		$	(34,306,028	)		$	(874,515	)		$	(39,568,220	)		$	(1,632,818	)

Business Segments - Schedule of Revenue by Major Customers

The following table shows the major customer(s) (10% or more) for the three-month period ended June 30, 2024.

Business Segments - Schedule of Revenue by Major Customers

Number		Customer		Bromine (000’s)				Crude Salt (000’s)				Chemical Products (000’s)				Total Revenue  (000’s)				Percentage of Total Revenue (%)
1		Shandong Brother Technology Limited		$	192			$	186			$	—			$	378				15.8	%
2		Shandong Morui Chemical Company Limited		$	221			$	156			$	—			$	377				15.8	%
3		Shouguang Weidong Chemical Company Limited		$	192			$	182			$	—			$	374				15.7	%

The following table shows the major customer(s) (10% or more) for the six-month period ended June 30, 2024.

Number		Customer		Bromine (000’s)				Crude Salt (000’s)				Chemical Products (000’s)				Total Revenue  (000’s)				Percentage of Total Revenue (%)
1		Shandong Morui Chemical Company Limited		$	355			$	219			$	—			$	574				15.5	%
2		Shandong Brother Technology Limited		$	325			$	214			$	—			$	539				14.6	%
3		Shouguang Weidong Chemical Company Limited		$	327			$	208			$	—			$	535				14.5	%

The following table shows the major customer(s) (10% or more) for the three-month period ended June 30, 2023.

Number		Customer		Bromine (000’s)				Crude Salt (000’s)				Chemical Products (000’s)				Total Revenue  (000’s)				Percentage of Total Revenue (%)
1		Shandong Morui Chemical Company Limited		$	1,221			$	283			$	—			$	1,504				18.8	%
2		Shouguang Weidong Chemical Company Limited		$	1,130			$	192			$	—			$	1,322				16.5	%
3		Shandong Brother Technology Limited		$	1,129			$	174			$	—			$	1,303				16.3	%
4		Shandong Shouguang God Runfa Marine Chemical Company Limited		$	1,052			$	—			$	—			$	1,052				13.1	%

The following table shows the major customer(s) (10% or more) for the six-month period ended June 30, 2023.

Number		Customer		Bromine (000’s)				Crude Salt (000’s)				Chemical Products (000’s)				Total Revenue  (000’s)				Percentage of Total Revenue (%)
1		Shandong Morui Chemical Company Limited		$	2,397			$	544			$	—			$	2,941				17.1	%
2		Shandong Brother Technology Limited		$	2,311			$	459			$	—			$	2,770				16.1	%
3		Shouguang Weidong Chemical Company Limited		$	2,315			$	395			$	—			$	2,710				15.7	%
4		Shandong Shouguangshen Runfa Marine Chemical Company Limited		$	2,015			$	—			$	—			$	2,015				11.7	%

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Tabular disclosure of segment costs.

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Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.

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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

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