| Schedule of Segment Information |
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Year ended December 31, 2024 |
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Corporate and |
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SUNation |
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HEC |
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Other |
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Total |
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Sales |
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$ |
39,733,362 |
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$ |
17,128,391 |
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$ |
— |
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$ |
56,861,753 |
Cost of sales |
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24,639,695 |
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11,795,814 |
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— |
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36,435,509 |
Gross profit |
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15,093,667 |
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5,332,577 |
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— |
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20,426,244 |
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Operating expenses: |
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Selling, general and administrative expenses |
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15,265,443 |
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4,530,879 |
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7,257,844 |
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27,054,166 |
Amortization expense |
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812,500 |
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2,025,000 |
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— |
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2,837,500 |
Fair value remeasurement of SUNation earnout consideration |
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— |
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— |
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(1,000,000) |
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(1,000,000) |
Goodwill impairment loss |
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3,101,981 |
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3,101,981 |
Intangible asset impairment loss |
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— |
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750,000 |
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— |
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750,000 |
Total operating expenses |
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16,077,943 |
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10,407,860 |
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6,257,844 |
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32,743,647 |
Operating (loss) income |
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(984,276) |
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(5,075,283) |
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(6,257,844) |
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(12,317,403) |
Other income (expenses): |
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Investment and other income |
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25,920 |
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17,742 |
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100,867 |
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144,529 |
(Loss) gain on sale of assets |
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— |
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6,118 |
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(6,940) |
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(822) |
Fair value remeasurement of warrant liability |
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— |
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— |
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(974,823) |
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(974,823) |
Fair value remeasurement of embedded derivative liability |
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— |
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— |
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(65,617) |
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(65,617) |
Fair value remeasurement of contingent value rights |
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— |
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— |
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522,257 |
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522,257 |
Interest expense |
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(74,507) |
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— |
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(3,012,943) |
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(3,087,450) |
Loss on debt extinguishment |
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— |
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— |
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(35,657) |
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(35,657) |
Other expense, net |
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(48,587) |
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23,860 |
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(3,472,856) |
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(3,497,583) |
Operating loss from continuing operations before income taxes |
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$ |
(1,032,863) |
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$ |
(5,051,423) |
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$ |
(9,730,700) |
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$ |
(15,814,986) |
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Depreciation and amortization |
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$ |
1,031,418 |
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$ |
2,120,364 |
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$ |
2,050 |
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$ |
3,153,832 |
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Capital expenditures |
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$ |
24,155 |
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$ |
8,630 |
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$ |
— |
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$ |
32,785 |
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Assets |
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$ |
26,127,816 |
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$ |
18,150,306 |
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$ |
1,434,610 |
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$ |
45,712,732 |
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Year ended December 31, 2023 |
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Corporate and |
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SUNation |
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HEC |
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Other |
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Total |
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Sales |
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$ |
52,363,710 |
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$ |
27,268,999 |
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$ |
— |
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$ |
79,632,709 |
Cost of sales |
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32,992,901 |
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18,943,618 |
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— |
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51,936,519 |
Gross profit |
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19,370,809 |
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8,325,381 |
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— |
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27,696,190 |
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Operating expenses: |
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Selling, general and administrative expenses |
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16,178,126 |
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5,448,385 |
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7,448,067 |
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29,074,578 |
Amortization expense |
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1,362,500 |
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2,025,000 |
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1,350,977 |
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4,738,477 |
Fair value remeasurement of SUNation earnout consideration |
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— |
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— |
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1,350,000 |
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1,350,000 |
Total operating expenses |
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17,540,626 |
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7,473,385 |
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10,149,044 |
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35,163,055 |
Operating (loss) income |
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1,830,183 |
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851,996 |
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(10,149,044) |
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(7,466,865) |
Other income (expenses): |
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Investment and other income |
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35,633 |
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9,773 |
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146,178 |
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191,584 |
(Loss) gain on sale of assets |
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— |
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(5,279) |
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442,395 |
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437,116 |
Fair value remeasurement of contingent value rights |
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— |
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— |
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2,674,966 |
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2,674,966 |
Interest expense |
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(74,077) |
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— |
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(2,583,440) |
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(2,657,517) |
Other expense, net |
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(38,443) |
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4,494 |
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680,099 |
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646,149 |
Operating loss from continuing operations before income taxes |
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$ |
1,791,740 |
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$ |
856,490 |
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$ |
(9,468,945) |
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$ |
(6,820,716) |
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Depreciation and amortization |
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$ |
1,676,842 |
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$ |
2,105,685 |
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$ |
1,353,893 |
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$ |
5,136,420 |
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Capital expenditures |
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$ |
473,236 |
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$ |
173,080 |
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$ |
9,375 |
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$ |
655,691 |
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Assets |
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$ |
28,738,285 |
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$ |
26,097,414 |
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$ |
3,337,112 |
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$ |
58,172,811 |
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