Midwest Energy Emissions Corp. (MEEC) Financial Statements (2024 and earlier)

Company Profile

Business Address 1810 JESTER DRIVE
CORSICANA, TX 75109
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3829 - Measuring and Controlling Devices, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments20,9401,5041,3885911,499585
Cash and cash equivalents20,9401,5041,3885911,499585
Receivables2,2332,7781,0151,1161,2231,642
Inventory, net of allowances, customer advances and progress billings7959911,075560513509
Inventory7959911,075560513509
Other undisclosed current assets184267312107316171
Total current assets:24,1525,5403,7912,3753,5522,908
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   3907961,107
Operating lease, right-of-use asset1152   
Inventory, real estate     1,808 
Property, plant and equipment1,5961,8291,8301,8872,0822,398
Intangible assets, net (including goodwill)     2,532 
Intangible assets, net (excluding goodwill)     2,532 
Regulated entity, other noncurrent assets     (5,243) 
Other undisclosed noncurrent assets1,7091,9202,1242,3193,4352,734
Total noncurrent assets:3,3163,8004,3445,0025,7215,131
TOTAL ASSETS:27,4689,3408,1357,3769,2738,039
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:447675628491,6771,858
Employee-related liabilities562849  
Accrued liabilities44767    
Other undisclosed accounts payable and accrued liabilities     1,6771,858
Debt   44343763
Deferred compensation liability     357556
Other undisclosed current liabilities1,7373,15714,9212,0671,383264
Total current liabilities:2,1833,22515,4833,3593,8542,742
Noncurrent Liabilities
Long-term debt and lease obligation   554,45116,936168
Long-term debt, excluding current maturities    4,05616,128168
Liabilities, other than long-term debt   299  
Due to related parties  299  
Operating lease, liability  55395807
Other undisclosed noncurrent liabilities26,06713,5332,78212,471(2,643)13,751
Total noncurrent liabilities:26,06713,5332,89117,22114,29313,918
Total liabilities:28,25016,75718,37420,58018,14716,660
Equity
Equity, attributable to parent, including:(783)(7,417)(10,239)(13,204)(8,874)(8,621)
Common stock949389787776
Additional paid in capital61,91761,18857,78850,20248,70842,786
Retained earnings (accumulated deficit)(62,794)(68,698)67,117(63,484)(57,658)(51,483)
Other undisclosed equity, attributable to parent   (135,234)   
Total equity:(783)(7,417)(10,239)(13,204)(8,874)(8,621)
TOTAL LIABILITIES AND EQUITY:27,4689,3408,1357,3769,2738,039

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues17,94021,62013,0128,15811,41712,296
Cost of revenue(12,172)(17,066)(10,688)(8,074)(10,629)(11,064)
Cost of goods and services sold(12,172)(14,599)(7,939)(5,440)(8,335)(9,148)
Other undisclosed gross profit  1,546    
Gross profit:5,7686,1002,324847881,232
Operating expenses(14,426)(6,117)(5,934)(5,900)(6,871)(6,026)
Operating loss:(8,658)(17)(3,610)(5,816)(6,083)(4,795)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
15,036     
Interest and debt expense(1,362)(1,570)601(41)(2,523)(2,019)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes22,593 (601)412,523 
Income (loss) from continuing operations before equity method investments, income taxes:27,608(1,588)(3,610)(5,816)(6,083)(6,814)
Other undisclosed income (loss) from continuing operations before income taxes(21,231)24    
Income (loss) from continuing operations before income taxes:6,377(1,563)(3,610)(5,816)(6,083)(6,814)
Income tax expense (benefit)(473)(18)(23)(10)14(22)
Other undisclosed loss from continuing operations      
Income (loss) from continuing operations:5,904(1,581)(3,633)(5,826)(6,069)(6,836)
Loss before gain (loss) on sale of properties:(3,633)(5,826)(6,069)(6,836)
Other undisclosed net loss    (28) 
Net income (loss):5,904(1,581)(3,633)(5,826)(6,097)(6,836)
Other undisclosed net income attributable to parent     2,019
Net income (loss) available to common stockholders, diluted:5,904(1,581)(3,633)(5,826)(6,097)(4,817)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):5,904(1,581)(3,633)(5,826)(6,097)(6,836)
Comprehensive income (loss), net of tax, attributable to parent:5,904(1,581)(3,633)(5,826)(6,097)(6,836)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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