v3.26.1
SEGMENT AND CUSTOMERS INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT AND CUSTOMERS INFORMATION

26. SEGMENT AND CUSTOMERS INFORMATION

 

The Company had the following reportable segments as of December 31, 2025 and 2024; see Note 1 for a brief description of the Company’s business. The Company’s Chief Operating Decision Maker (“CODM”) is its Executive Chairman, Mr. Ault. The performance measure of the Company’s reportable segments is primarily income or (loss) from operations. Income or (loss) from operations for each segment includes all revenues, cost of revenues, gross profit and other operating expenses directly attributable to the segment. The CODM is also provided with key non-cash expenses by segment, including depreciation and amortization, impairment of property and equipment and impairment of goodwill and intangible assets. These financial metrics are used for evaluating the performance of each segment and making decisions about allocating capital and other resources to each segment. The “Holding Co.” column includes financial results that are not allocated to a specific reportable segment but are primarily generated within the holding company entity. The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the year ended December 31, 2025:

                                             
   Gresham   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue, crane operations  $-   $-   $-   $-   $-   $45,459,000   $-   $-   $45,459,000 
Revenue, crypto assets mining   -    -    -    21,307,000    -    -    -    -    21,307,000 
Revenue, hotel and real estate operations   -    -    -    1,284,000    18,951,000    -    -    -    20,235,000 
Revenue, lending and trading activities   -    -    1,728,000    -    -    -    -    -    1,728,000 
Revenue, other   3,404,000    7,228,000    -    -    -    29,000    4,000    2,718,000    13,383,000 
Total revenue   3,404,000    7,228,000    1,728,000    22,591,000    18,951,000    45,488,000    4,000    2,718,000    102,112,000 
Cost of revenue   2,504,000    3,909,000    2,947,000    27,348,000    12,832,000    29,378,000    212,000    1,409,000    80,539,000 
Gross profit (loss)   900,000    3,319,000    (1,219,000)   (4,757,000)   6,119,000    16,110,000    (208,000)   1,309,000    21,573,000 
Operating expenses                                             
General and administrative   366,000    3,528,000    405,000    1,844,000    5,730,000    8,879,000    -    29,282,000    50,034,000 
Selling and marketing   57,000    1,055,000    -    -    -    -    16,779,000    446,000    18,337,000 
Research and development   125,000    444,000    -    -    -    -    3,515,000    750,000    4,834,000 
Change in fair value of crypto assets   -    -    -    7,640,000    -    -    -    -    7,640,000 
Impairment of property and equipment   -    -    -    -    -    -    -    2,996,000    2,996,000 
Total operating expenses   548,000    5,027,000    405,000    9,484,000    5,730,000    8,879,000    20,294,000    33,474,000    83,841,000 
(Loss) income from operations  $352,000   $(1,708,000)  $(1,624,000)  $(14,241,000)  $389,000   $7,231,000   $(20,502,000)  $(32,165,000)   (62,268,000)
Other income (expense):                                             
Interest and other income                                           2,770,000 
Interest expense                                           (16,120,000)
Loss on extinguishment of debt                                           (3,432,000)
Change in fair value of embedded derivative liabilities                                           3,181,000 
Gain on deconsolidation of subsidiary                                           12,377,000 
Loss on the sale of fixed assets                                           (1,802,000)
Total other expense, net                                           (3,026,000)
Loss before income taxes                                          $(65,294,000)
                                              
Depreciation and amortization expense  $314,000   $228,000   $-   $9,963,000   $3,062,000   $4,260,000   $85,000   $1,907,000   $19,819,000 
                                              
Interest expense  $(115,000)  $(158,000)  $-   $(6,000)  $(6,005,000)  $(1,927,000)  $(1,405,000)  $(6,504,000)  $(16,120,000)
                                              
Capital expenditures for the year ended December 31, 2025  $448,000   $83,000   $-   $19,596,000   $473,000   $3,886,000   $43,000   $10,000   $24,539,000 
                                              
Segment identifiable assets as of December 31, 2025  $41,199,000   $3,228,000   $6,374,000   $89,455,000   $65,823,000   $41,154,000   $731,000   $55,997,000   $303,961,000 

 

Segment information for the year ended December 31, 2024:

 

   TurnOnGreen   Fintech   Sentinum   AGREE   Energy   ROI   Holding Co.   Total 
Revenue  $4,913,000   $-   $-   $-   $116,000   $253,000   $2,523,000   $7,805,000 
Revenue, crypto assets mining   -    -    30,598,000    -    -    -    -    30,598,000 
Revenue, hotel and real estate operations   -    -    876,000    18,015,000    -    -    -    18,891,000 
Revenue, crane operations   -    -    -    -    47,475,000    -    -    47,475,000 
Revenue, lending and trading activities   -    1,893,000    -    -    -    -    -    1,893,000 
Total revenue   4,913,000    1,893,000    31,474,000    18,015,000    47,591,000    253,000    2,523,000    106,662,000 
Cost of revenue   2,647,000    (1,205,000)   34,338,000    12,928,000    31,411,000    1,086,000    1,240,000    82,445,000 
Gross profit (loss)   2,266,000    3,098,000    (2,864,000)   5,087,000    16,180,000    (833,000)   1,283,000    24,217,000 
Operating expenses                                        
Research and development   1,008,000    -    -    -    -    10,003,000    -    11,011,000 
Selling and marketing   1,293,000    -    -    -    -    12,726,000    -    14,019,000 
General and administrative   4,038,000    (5,556,000)   (746,000)   4,830,000    16,267,000    -    16,412,000    35,245,000 
Impairment of property and equipment   -    -    10,500,000    8,946,000    -    -    -    19,446,000 
Impairment of goodwill and intangible assets   -    -    -    -    1,500,000    -    -    1,500,000 
Total operating expenses   6,339,000    (5,556,000)   9,754,000    13,776,000    17,767,000    22,729,000    16,412,000    81,221,000 
(Loss) income from operations  $(4,073,000)  $8,654,000   $(12,618,000)  $(8,689,000)  $(1,587,000)  $(23,562,000)  $(15,129,000)   (57,004,000)
Other income (expense):                                        
Interest and other income                                      2,236,000 
Interest expense                                      (19,671,000)
Gain on conversion of investment in equity securities to marketable equity securities                                      17,900,000 
Gain on extinguishment of debt                                      2,981,000 
Loss from investment in unconsolidated entity                                      (1,958,000)
Impairment of equity securities                                      (6,266,000)
Gain on the sale of fixed assets                                      79,000 
Total other expense, net                                      (4,699,000)
Loss before income taxes                                     $(61,703,000)
                                         
Depreciation and amortization expense  $98,000   $-   $14,879,000   $2,735,000   $4,641,000   $74,000   $2,010,000   $24,437,000 
                                         
Interest expense  $-   $(97,000)  $(125,000)  $(6,039,000)  $(2,808,000)  $(3,879,000)  $(6,723,000)  $(19,671,000)
                                         
Capital expenditures for the year ended December 31, 2024  $53,000   $-   $1,697,000   $797,000   $2,023,000   $157,000   $101,000   $4,828,000 
                                         
Segment identifiable assets as of December 31, 2024  $3,050,000   $6,676,000   $35,260,000   $69,130,000   $45,524,000   $1,130,000   $59,701,000   $220,471,000