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Segments and Disaggregated Revenue | 6 Months Ended
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Jun. 30, 2025
Segments and Disaggregated Revenue [Abstract] |
Segments and Disaggregated Revenue |
12. | Segments and Disaggregated Revenue
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 and support |  |  | Oil and Gas |  |  | Consolidated |
Three Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 523,558 |  |  | $ | — |  |  | $ | — |  |  |  | 197,793 |  |  | $ | 721,351 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct labor |  |  | 204,330 |  |  |  | — |  |  |  | — |  |  |  | 50,000 |  |  |  | 254,330 |
Materials |  |  | 438,146 |  |  |  | — |  |  |  | — |  |  |  | 7,529 |  |  |  | 445,675 |
Allocated overhead |  |  | 655,939 |  |  |  | — |  |  |  | — |  |  |  | 247,862 |  |  |  | 903,801 |
Other costs of revenue |  |  | 112,013 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 112,013 |
|  |  | 1,410,428 |  |  |  | — |  |  |  | — |  |  |  | 305,931 |  |  |  | 1,715,819 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and related |  |  | 50,312 |  |  |  | — |  |  |  | 415,324 |  |  |  | 272,158 |  |  |  | 737,794 |
Professional fees |  |  | — |  |  |  | — |  |  |  | 949,992 |  |  |  | 519,465 |  |  |  | 1,469,457 |
Other expenses |  |  | 10,937 |  |  |  | 140 |  |  |  | 186,493 |  |  |  | 288,491 |  |  |  | 486,061 |
|  |  | 61,249 |  |  |  | 140 |  |  |  | 1,551,809 |  |  |  | 1,080,114 |  |  |  | 2,693,312 |
Operating loss |  |  | (948,119 | ) |  |  | (140 | ) |  |  | (1,551,809 | ) |  |  | (1,187,712 | ) |  |  | (3,687,780 |
Other expense |  |  | (113,656 | ) |  |  | — |  |  |  | (511,959 | ) |  |  | (260,475 | ) |  |  | (886,090 | )
Net loss |  | $ | (1,061,775 | ) |  | $ | (140 | ) |  | $ | (2,063,768 | ) |  | $ | (1,448,187 | ) |  | $ | (4,573,870 | )
Total assets |  | $ | 5,428,040 |  |  | $ | 1,406 |  |  | $ | 28,089,142 |  |  |  | 20,345,088 |  |  | $ | 53,863,675 |
Depreciation and amortization |  | $ | 56,830 |  |  | $ | — |  |  | $ | 652 |  |  |  | 200,331 |  |  | $ | 257,812 |
|  | Construction |  |  | Medical |  |  | Corporate and support |  |  | Consolidated |
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 1,211,254 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,211,245 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct Labor |  |  | 27,971 |  |  |  | — |  |  |  | — |  |  |  | 27,971 |
Materials |  |  | 304,048 |  |  |  | — |  |  |  | — |  |  |  | 304,048 |
Allocated overhead |  |  | 595,157 |  |  |  | — |  |  |  | — |  |  |  | 595,157 |
Other costs of revenue |  |  | 167,073 |  |  |  | — |  |  |  | — |  |  |  | 167,073 |
|  |  | 1,094,249 |  |  |  | — |  |  |  | — |  |  |  | 1,094,249 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and related |  |  | — |  |  |  | — |  |  |  | 1,134,084 |  |  |  | 1,134,084 |
Professional fees |  |  | — |  |  |  | — |  |  |  | 672,705 |  |  |  | 672,705 |
Other expenses |  |  | 91,281 |  |  |  | 50,076 |  |  |  | 59,983 |  |  |  | 201,249 |
|  |  | 91,281 |  |  |  | 50,076 |  |  |  | 1,866,682 |  |  |  | 2,008,039 |
Operating income (loss) |  |  | 25,724 |  |  |  | (50,076 | ) |  |  | (1,866,682 | ) |  |  | (1,891,034 | )
Other expense |  |  | (137,955 | ) |  |  | — |  |  |  | (2,648,011 | ) |  |  | (2,785,966 | )
Net loss |  | $ | (112,231 | ) |  | $ | (50,076 | ) |  | $ | (4,514,693 | ) |  | $ | (4,677,000 | )
Total assets |  | $ | 5,479,525 |  |  | $ | 1,406 |  |  | $ | 2,793,342 |  |  | $ | 8,274,273 |
Depreciation and amortization |  | $ | 6,484 |  |  | $ | — |  |  | $ | 1,807 |  |  | $ | 8,291 |
|  | Construction |  |  | Medical |  |  | Corporate and support |  |  | Oil and gas |  |  | Consolidated |
Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 1,019,637 |  |  | $ | — |  |  | $ | — |  |  |  | 268,068 |  |  | $ | 1,287,705 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct labor |  |  | 392,423 |  |  |  | — |  |  |  | — |  |  |  | 50,000 |  |  |  | 442,423 |
Materials |  |  | 583,019 |  |  |  | — |  |  |  | — |  |  |  | 7,528 |  |  |  | 590,549 |
Allocated overhead |  |  | 1,136,267 |  |  |  | — |  |  |  | — |  |  |  | 252,487 |  |  |  | 1,388,773 |
Other costs of revenue |  |  | 153,164 |  |  |  | — |  |  |  | — |  |  |  | 31,020 |  |  |  | 184,183 |
|  |  | 2,264,873 |  |  |  | — |  |  |  | — |  |  |  | 341,035 |  |  |  | 2,605,928 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and related |  |  | 50,312 |  |  |  | — |  |  |  | 855,193 |  |  |  | 388,027 |  |  |  | 1,293,532 |
Professional fees |  |  | — |  |  |  | — |  |  |  | 1,552,634 |  |  |  | 519,465 |  |  |  | 2,630,190 |
Other expenses |  |  | 12,002 |  |  |  | 967 |  |  |  | 326,779 |  |  |  | 496,160 |  |  |  | 157,817 |
|  |  | 62,314 |  |  |  | 967 |  |  |  | 2,734,606 |  |  |  | 1,403,652 |  |  |  | 4,201,539 |
Operating loss |  |  | (1,307,550 | ) |  |  | (967 | ) |  |  | (2,734,606 | ) |  |  | (1,476,639 | ) |  |  | (5,519,762 | )
Other expense |  |  | (264,031 | ) |  |  | — |  |  |  | (1,224,516 | ) |  |  | (312,229 | ) |  |  | (1,800,776 | )
Net loss |  | $ | (1,571,581 | ) |  | $ | (967 | ) |  | $ | (3,959,122 | ) |  |  | (1,788,868 | ) |  | $ | (7,320,538 | )
Total assets |  | $ | 5,428,040 |  |  | $ | 1,406 |  |  | $ | 27,969,142 |  |  | $ | 20,345,088 |  |  | $ | 53,743,675 |
Depreciation and amortization |  | $ | 103,691 |  |  | $ | — |  |  | $ | 1,272 |  |  |  | 259,577 |  |  | $ | 364,539 |
Capital expenditure |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Construction |  |  | Medical |  |  | Corporate and support |  |  | Consolidated |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 2,179,369 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,179,369 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct labor |  |  | 27,971 |  |  |  | — |  |  |  | — |  |  |  | 27,971, |
Materials |  |  | 351,646 |  |  |  | — |  |  |  | — |  |  |  | 351,646 |
Allocated overhead |  |  | 1,163,247 |  |  |  | — |  |  |  | — |  |  |  | 1,163,247 |
Other costs of revenue |  |  | 196,368 |  |  |  | — |  |  |  | — |  |  |  | 196,368 |
|  |  | 1,739,232 |  |  |  | — |  |  |  | — |  |  |  | 1,739,232 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and related |  |  | — |  |  |  | — |  |  |  | 2,386,006 |  |  |  | 2,386,066 |
Professional fees |  |  | — |  |  |  | — |  |  |  | 1,237,944 |  |  |  | 1,237,944 |
Other expenses |  |  | 91,814 |  |  |  | 85,960 |  |  |  | 60,030 |  |  |  | 237,744 |
|  |  | 91,814 |  |  |  | 85,960 |  |  |  | 3,683,980 |  |  |  | 3,861,754 |
Operating income (loss) |  |  | 348,323 |  |  |  | (85,960 | ) |  |  | (3,683,980 | ) |  |  | (3,421,617 | )
Other expense |  |  | (187,908 | ) |  |  | — |  |  |  | (6,550,035 | ) |  |  | (6,737,943 |
Income (loss) before income taxes |  |  | 160,415 |  |  |  | (85,960 | ) |  |  | (10,234,015 | ) |  |  | (10,159,560 | )
Common stock deemed dividend |  |  | — |  |  |  | — |  |  |  | (1,638,149 | ) |  |  | (1,638,149 | )
Income from discontinued operations |  |  | — |  |  |  | — |  |  |  | 2,684,678 |  |  |  | 2,684,678 |
Net income (loss) attributable to common stockholders |  | $ | 160,415 |  |  | $ | (85,960 | ) |  | $ | (9,187,486 | ) |  | $ | (9,113,031 | )
Total assets |  | $ | 5,479,525 |  |  | $ | 1,406 |  |  | $ | 2,793,342 |  |  | $ | 8,274,273 |
Depreciation and amortization |  | $ | 81,547 |  |  | $ | — |  |  | $ | 3,487 |  |  | $ | 85,034 |
Capital expenditure |  |  | 7,873 |  |  |  | — |  |  |  |  |  |  |  | 7,873 |

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- Definition The entire disclosure for reporting segments including data and tables. 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