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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting  
Segment Reporting

14.

Segment Reporting


The Company’s Chief Operating Decision Maker (“CODM”) as defined under GAAP, who is the Company’s Chief Financial Officer and Chief Executive Officer, has determined that the Company is currently organized its operations into the segments as follows. We have organized our operations into three segments: Construction, Medical, Development and Environmental. We allocate to segment results the operating expenses “Payroll and related expenses,” “General and administrative,” “Marketing and business development,” and “Pre-project” based on usage, which is generally reflected in the segment in which the costs are incurred. These segments reflect the way our executive team evaluates the Company’s business performance and manages its operations. The Construction segment includes the Company's manufacturing unit SG ECHO and other modules projects. The Medical segment mainly consists of minimal expenses for this segment. The Environmental segment has had no activity through December 31, 2024. Corporate and support consists of general corporate expenses such as our executive office; the corporate finance, accounting, audit, tax, human resources, risk management, information technology, marketing, and legal groups; corporate overhead and other items not allocated to any of the Company's segments. From time to time, the Company revises the measurement of each segment's cost of revenue and operating expenses, including any corporate overhead allocations, as determined by the information regularly reviewed by its executive team. The CODM continually reviews a monthly statement of operations separated by segment, along with an analysis of the significant segment expenses as described below. Information for the Company's segments, as well as for Corporate and support, is provided in the following table:       

 

 

 

Construction

 


                Medical

Corporate/Support

 


Consolidated

 

Fiscal Year Ended December 31, 2024  

 



 








 






Revenue
$ 4,976,618

$ —

$ —

$ 4,976,618



















Significant segment expenses:
















Costs of revenue:
















Direct labor

407,241


—


—


407,241

Materials

1,022,874


—


—


1,022,874

Allocated overhead

3,517,750


—


—


3,517,750

Other costs of revenue

272,830


—


—


272,830




5,220,695


—


—


5,220,695

Operating expenses:
















Payroll and related

—


—


4,474,176


4,474,176

Professional fees

—


—


3,565,080


3,565,080

Other expenses

75,404


104,174


1,243,704


1,423,282




75,404


104,174


9,282,960


9,462,538



















Operating loss

(319,481 )

(104,174 )

(9,282,960 )

(9,706,615 )

Other expense

(545,947 )

—

(9,411,798 )

(9,957,745 )

Loss before income taxes

 


(865,428

 )

(104,174 )

 

(18,694,758

 )

 

(19,664,360 )

Income from discontinued operation

—


—


2,684,678


2,684,678

Net loss attributable to common stockholders
$ (865,428 )
$ (104,174 )
$ (16,010,080 )
$ (16,979,682 )

Total assets
$ 4,782,379

$ 1,406

$ 1,287,739

$ 6,071,524

Depreciation and amortization
$ 512,707

$ —

$ 14,086

$ 526,793

Capital expenditures
$ 13,496

$ —

$ —

$ 13,496



















Fiscal Year Ended December 31, 2023
















Revenue
$ 16,523,080

$ —

$ —

$ 16,523,080



















Significant segment expenses:
















Costs of revenue:
















Direct labor

6,252,798


—


—


6,252,798

Materials

9,497,138


—


—


9,497,138

Allocated overhead

1,950,373


—


—


1,950,373

Other costs of revenue

1,379,127


—


—


1,379,127




19,079,436


—


—


19,079,436

Operating expenses:
















Payroll and related

—


—


6,052,629


6,052,629

Professional fees

—


—


4,276,699


4,276,699

Other expenses

11,319


528,672


8,323,533


8,863,524




11,319


528,672


18,652,861


19,192,852



















Operating loss

(2,567,675 )

(528,672 )

(18,652,861 )

(21,749,208 )

Other expense

(648,157 )

—

(160,000 )

(808,157 )

Loss before income taxes

(3,215,832 )

(528,672 )

(18,812,861 )

(22,557,365 )

Loss from discontinued operation

—


—


(3,725,168 )

(3,725,168 )

Net loss attributable to common stockholders
$ (3,215,832
 )
$ (528,672 )
$ (22,538,029 )
$ (26,282,533 )

Total assets
$ 5,997,826

$ 1,483

$ 11,211,966

$ 17,211,275

Depreciation and amortization
$ 182,530

$ —

$ 416,184

$ 598,714

Capital expenditure
$ —

$ —

$ 607,404

$ 607,404