Annual report pursuant to Section 13 and 15(d)

Assets Held for Sale-Discontinued Operations (Tables)

v3.19.1
Assets Held for Sale-Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations

The table below provides additional details related to the assets and liabilities of these reclassifications as of December 31, 2018 and 2017:

 

December 31, 2018   Argentina Segment     U.S. Operations     Total  
Assets                        
Cash and cash equivalents   $ 19,166     $     $ 19,166  
Inventories, net     500,000       50,422       550,422  
Prepaid expenses and other current assets     877,439             877,439  
Property, plant and equipment     12,499,999       11,083,333       23,583,332  
                         
Total current assets held for sale   $ 13,896,604     $ 11,133,755     $ 25,030,359  
                         
Liabilities                        
Accounts payable   $ 3,419,441     $     $ 3,419,441  
Accrued expenses and other current liabilities     1,274,487             1,274,487  
Debt           3,009,483       3,009,483  
Total current liabilities held for sale   $ 4,693,928     $ 3,009,483     $ 7,703,411  

 

December 31, 2017   Argentina Segment     U.S. Operations     Total  
Assets                  
Cash and cash equivalents   $ 1,855,150     $     $ 1,855,150  
Accounts receivable, net     4,474,565             4,474,565  
Inventories, net     2,083,030       1,616,215       3,699,245  
Prepaid expenses and other current assets     4,197,306             4,197,306  
Property, plant and equipment     20,639,500       44,184,766       64,824,266  
                         
Total current assets held for sale   $ 33,249,551     $ 45,800,981     $ 79,050,532  
                         
Liabilities                        
Accounts payable   $ 5,282,490     $     $ 5,282,490  
Accrued expenses and other current liabilities     3,213,852             3,213,852  
Debt     836,855       8,219,732       9,056,587  
Total current liabilities held for sale   $ 9,333,197     $ 8,219,732     $ 17,552,929  

 

The table below provides additional details related to the discontinued operations as of December 31, 2018 and 2017:

 

    Years Ended December 31,  
    2018     2017  
Revenues from discontinued operations   $ 11,396,142     $ 19,553,584  
Operating costs and expenses     (29,114,064 )     (31,728,733 )
Operating loss     (17,717,922 )     (12,175,149 )
Other expense     (2,679,109 )     (594,523 )
Benefit for income taxes     16,375       633,529  
Loss from discontinued operations   $ (20,380,656 )   $ (12,136,143 )