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)
| 9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,504 | 1,388 | 591 | 1,499 | 585 | 2,418 | |||
| Cash and cash equivalents | 1,504 | 1,388 | 591 | 1,499 | 585 | 2,418 | |||
| Receivables | 2,778 | 1,015 | 1,116 | 1,223 | 1,642 | 2,931 | |||
| Inventory, net of allowances, customer advances and progress billings | 991 | 1,075 | 560 | 513 | 509 | 660 | |||
| Inventory | 991 | 1,075 | 560 | 513 | 509 | 660 | |||
| Other undisclosed current assets | 267 | 312 | 107 | 316 | 171 | 211 | |||
| Total current assets: | 5,540 | 3,791 | 2,375 | 3,552 | 2,908 | 6,220 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 390 | 796 | 1,107 | ✕ | ✕ | ||||
| Operating lease, right-of-use asset | 52 | ✕ | ✕ | ||||||
| Inventory, real estate | 1,808 | ||||||||
| Property, plant and equipment | 1,829 | 1,830 | 1,887 | 2,082 | 2,398 | 2,729 | |||
| Intangible assets, net (including goodwill) | 2,532 | ||||||||
| Intangible assets, net (excluding goodwill) | 2,532 | ||||||||
| Regulated entity, other noncurrent assets | (5,243) | ||||||||
| Deferred costs | 172 | ||||||||
| Other undisclosed noncurrent assets | 1,920 | 2,124 | 2,319 | 3,435 | 2,734 | 2,935 | |||
| Total noncurrent assets: | 3,800 | 4,344 | 5,002 | 5,721 | 5,131 | 5,836 | |||
| TOTAL ASSETS: | 9,340 | 8,135 | 7,376 | 9,273 | 8,039 | 12,056 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 67 | 562 | 849 | 1,677 | 1,858 | 1,796 | |||
| Employee-related liabilities | ✕ | ✕ | 562 | 849 | |||||
| Accrued liabilities | 67 | ||||||||
| Other undisclosed accounts payable and accrued liabilities | 1,677 | 1,858 | 1,796 | ||||||
| Debt | 443 | 437 | 63 | 61 | |||||
| Deferred compensation liability | 357 | 556 | |||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 684 | ||
| Other undisclosed current liabilities | 3,157 | 14,921 | 2,067 | 1,383 | 264 | 4,039 | |||
| Total current liabilities: | 3,225 | 15,483 | 3,359 | 3,854 | 2,742 | 6,580 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 55 | 4,451 | 16,936 | 168 | 168 | ||||
| Long-term debt, excluding current maturities | 4,056 | 16,128 | 168 | 168 | |||||
| Liabilities, other than long-term debt | 299 | ||||||||
| Due to related parties | ✕ | 299 | |||||||
| Operating lease, liability | 55 | 395 | 807 | ✕ | ✕ | ||||
| Other undisclosed noncurrent liabilities | 13,533 | 2,782 | 12,471 | (2,643) | 13,751 | 9,733 | |||
| Total noncurrent liabilities: | 13,533 | 2,891 | 17,221 | 14,293 | 13,918 | 9,901 | |||
| Total liabilities: | 16,757 | 18,374 | 20,580 | 18,147 | 16,660 | 16,481 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | (7,417) | (10,239) | (13,204) | (8,874) | (8,621) | (4,425) | |||
| Common stock | 93 | 89 | 78 | 77 | 76 | 76 | |||
| Additional paid in capital | 61,188 | 57,788 | 50,202 | 48,708 | 42,786 | 42,166 | |||
| Retained earnings (accumulated deficit) | (68,698) | 67,117 | (63,484) | (57,658) | (51,483) | (46,667) | |||
| Other undisclosed equity, attributable to parent | (135,234) | ||||||||
| Total equity: | (7,417) | (10,239) | (13,204) | (8,874) | (8,621) | (4,425) | |||
| TOTAL LIABILITIES AND EQUITY: | 9,340 | 8,135 | 7,376 | 9,273 | 8,039 | 12,056 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 21,620 | 13,012 | 8,158 | 11,417 | 12,296 | 27,499 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 26,705 | |
| Cost of revenue | (17,066) | (10,688) | (8,074) | (10,629) | (11,064) | (19,017) | ||
| Cost of goods and services sold | (14,599) | (7,939) | (5,440) | (8,335) | (9,148) | (19,017) | ||
| Other undisclosed gross profit | 1,546 | |||||||
| Gross profit: | 6,100 | 2,324 | 84 | 788 | 1,232 | 8,482 | ||
| Operating expenses | (6,117) | (5,934) | (5,900) | (6,871) | (6,026) | (8,471) | ||
| Operating income (loss): | (17) | (3,610) | (5,816) | (6,083) | (4,795) | 11 | ||
| Interest and debt expense | (1,570) | 601 | (41) | (2,523) | (2,019) | (153) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (601) | 41 | 2,523 | |||||
| Loss from continuing operations before equity method investments, income taxes: | (1,588) | (3,610) | (5,816) | (6,083) | (6,814) | (142) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 24 | |||||||
| Loss from continuing operations before income taxes: | (1,563) | (3,610) | (5,816) | (6,083) | (6,814) | (142) | ||
| Income tax expense (benefit) | (18) | (23) | (10) | 14 | (22) | (540) | ||
| Other undisclosed loss from continuing operations | ||||||||
| Loss from continuing operations: | (1,581) | (3,633) | (5,826) | (6,069) | (6,836) | (683) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | (3,633) | (5,826) | (6,069) | (6,836) | (683) | |
| Other undisclosed net loss | (28) | |||||||
| Net loss: | (1,581) | (3,633) | (5,826) | (6,097) | (6,836) | (683) | ||
| Other undisclosed net income (loss) attributable to parent | 2,019 | (2,221) | ||||||
| Net loss available to common stockholders, diluted: | (1,581) | (3,633) | (5,826) | (6,097) | (4,817) | (2,903) | ||
Comprehensive Income ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (1,581) | (3,633) | (5,826) | (6,097) | (6,836) | (683) | ||
| Comprehensive loss, net of tax, attributable to parent: | (1,581) | (3,633) | (5,826) | (6,097) | (6,836) | (683) | ||
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.