Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Tables)

v3.10.0.1
Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Schedule of Revenue from Geographically Classified Segments

Summarized financial information is shown in the following tables:

 

   

Three Months Ended

September 30,

   

Nine Months Ended

September 30,

 
    2018     2017     2018     2017  
                         
Revenues(1):                                
Argentina   $ 2,428,907     $ 5,750,853     $ 10,720,007     $ 13,748,447  
United States     12,503,599       7,369,376       40,202,471       10,462,098  
Total revenues   $ 14,932,506     $ 13,120,229     $ 50,922,478     $ 24,210,545  
                                 
Cost of services(1,2):                                
Argentina   $ 2,423,860     $ 7,054,471     $ 10,890,367     $ 17,225,253  
United States     14,757,813       7,820,487       48,304,293       12,709,963  
Total cost of services   $ 17,181,673     $ 14,874,958     $ 59,194,660     $ 29,935,216  
                                 
Gross margin(1,2):                                
Argentina   $ 5,047     $ (1,303,618 )   $ (170,360 )   $ (3,476,806 )
United States     (2,254,214 )     (451,111 )     (8,101,822 )     (2,247,865 )
Total gross margin   $ (2,249,167 )   $ (1,754,729 )   $ (8,272,182 )   $ (5,724,671 )
                                 
Corporate and Other:   $ 7,210,806     $ 2,949,010     $ 16,261,116     $ 8,024,675  
                                 
Capital expenditures:                                
Argentina   $     $ 230,826     $ 2,846     $ 1,584,444  
United States     620,570       16,561,322       6,134,877       22,917,672  
Corporate and Other           61,365       1,040       193,932  
Total capital expenditures   $ 620,570     $ 16,853,513     $ 6,138,763     $ 24,696,048  
                                 
Depreciation and amortization:                                
Argentina   $ 1,553,562     $ 1,338,187     $ 4,333,808     $ 3,947,056  
United States     4,488,313       555,348       12,144,340       631,017  
Corporate and Other     31,848       42,789       290,157       122,762  
Total depreciation and amortization   $ 6,073,723     $ 1,936,324     $ 16,768,305     $ 4,700,835  
                                 
Impairment:                                
Argentina   $     $     $     $  
United States     19,665,000             23,350,445        
Corporate and Other                        
Total impairment   $ 19,665,000     $     $ 23,350,445     $  

 

1) U.S. activity began in February 2017 with start-up expenses being incurred. The Company began recognizing U.S. revenue in late May 2017. Intersegment transactions included in revenues were not significant for any of the periods presented.
   
(2) Gross margin is defined as revenues less costs of services. Cost of services excludes selling, general and administrative expenses, and depreciation and amortization expense.