2021 Q4 Form 10-K Financial Statement

#000147793222002069 Filed on April 05, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $2.695M $13.01M $2.346M
YoY Change 14.87% 59.49% -7.04%
Cost Of Revenue $1.718M $7.939M $1.242M
YoY Change 38.28% 45.93% -34.49%
Gross Profit $977.1K $5.073M $1.104M
YoY Change -11.48% 86.64% 75.93%
Gross Profit Margin 36.26% 38.99% 47.05%
Selling, General & Admin $1.880M $5.934M $2.359M
YoY Change -20.3% -0.02% 79.77%
% of Gross Profit 192.39% 116.97% 213.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $62.79K $68.46K $79.29K
YoY Change -20.81% -63.72% -32.38%
% of Gross Profit 6.43% 1.35% 7.18%
Operating Expenses $1.880M $5.934M $2.359M
YoY Change -20.3% -0.02% 79.77%
Operating Profit -$902.8K -$861.0K -$1.255M
YoY Change -28.06% -73.24% 83.28%
Interest Expense -$515.6K $41.32K -$670.5K
YoY Change -23.1% -0.27% 112.42%
% of Operating Profit
Other Income/Expense, Net -$144.5K -$531.4K -$117.4K
YoY Change 23.05% -2357.6% -68.64%
Pretax Income -$1.261M -$3.610M -$2.013M
YoY Change -37.33% -37.93% -57.69%
Income Tax $16.93K $23.00K $10.00K
% Of Pretax Income
Net Earnings -$1.278M -$3.633M -$2.023M
YoY Change -36.8% -37.64% -57.6%
Net Earnings / Revenue -47.44% -27.92% -86.22%
Basic Earnings Per Share
Diluted Earnings Per Share -$14.30K -$42.31K -$25.92K
COMMON SHARES
Basic Shares Outstanding 89.27M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.388M $1.388M $591.0K
YoY Change 134.9% 134.9% -60.58%
Cash & Equivalents $1.388M $591.0K
Short-Term Investments
Other Short-Term Assets $312.0K $312.0K $95.19K
YoY Change 227.78% 227.78% -69.9%
Inventory $1.075M $1.075M $560.1K
Prepaid Expenses
Receivables $1.015M $1.015M $1.116M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.791M $3.791M $2.362M
YoY Change 60.46% 60.46% -33.49%
LONG-TERM ASSETS
Property, Plant & Equipment $1.830M $2.220M $1.887M
YoY Change -3.05% -17.27% -40.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.18K $10.18K $12.26K
YoY Change -16.97% -16.97%
Total Long-Term Assets $4.344M $4.344M $5.014M
YoY Change -13.36% -13.36% -12.36%
TOTAL ASSETS
Total Short-Term Assets $3.791M $3.791M $2.362M
Total Long-Term Assets $4.344M $4.344M $5.014M
Total Assets $8.135M $8.135M $7.376M
YoY Change 10.28% 10.28% -20.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.268M $2.268M $1.610M
YoY Change 40.85% 40.68% -3.98%
Accrued Expenses $902.6K $902.6K $1.516M
YoY Change -40.46% -40.46% 56.85%
Deferred Revenue
YoY Change
Short-Term Debt $12.14M $12.14M $0.00
YoY Change
Long-Term Debt Due $2.680K $2.680K $63.92K
YoY Change -95.81% -95.81% -93.87%
Total Short-Term Liabilities $15.48M $15.48M $3.359M
YoY Change 360.97% 360.97% -12.84%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $14.52M
YoY Change -100.0% -100.0% 30.15%
Other Long-Term Liabilities $2.891M $2.891M $2.700M
YoY Change 7.09% 7.09% -13.91%
Total Long-Term Liabilities $2.891M $2.891M $17.22M
YoY Change -83.21% -83.21% 20.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.48M $15.48M $3.359M
Total Long-Term Liabilities $2.891M $2.891M $17.22M
Total Liabilities $18.37M $18.37M $20.58M
YoY Change -10.72% -10.72% 13.41%
SHAREHOLDERS EQUITY
Retained Earnings -$67.12M $63.48M
YoY Change -205.72%
Common Stock $89.12K $78.10K
YoY Change 14.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.24M -$10.24M -$13.20M
YoY Change
Total Liabilities & Shareholders Equity $8.135M $8.135M $7.376M
YoY Change 10.28% 10.28% -20.46%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$1.278M -$3.633M -$2.023M
YoY Change -36.8% -37.64% -57.6%
Depreciation, Depletion And Amortization $62.79K $68.46K $79.29K
YoY Change -20.81% -63.72% -32.38%
Cash From Operating Activities $512.0K $206.0K $298.5K
YoY Change 71.53% -116.62% -209.61%
INVESTING ACTIVITIES
Capital Expenditures -$10.98K $10.98K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $33.00K
YoY Change -100.0% -100.0% 10.0%
Cash From Investing Activities -$10.98K -$10.98K $33.00K
YoY Change -133.27% -125.82% 10.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.25K $602.3K -59.40K
YoY Change -135.77% 108.9% -108.0%
NET CHANGE
Cash From Operating Activities 512.0K $206.0K 298.5K
Cash From Investing Activities -10.98K -$10.98K 33.00K
Cash From Financing Activities 21.25K $602.3K -59.40K
Net Change In Cash 522.3K $797.3K 272.1K
YoY Change 91.94% -187.78% -45.62%
FREE CASH FLOW
Cash From Operating Activities $512.0K $206.0K $298.5K
Capital Expenditures -$10.98K $10.98K
Free Cash Flow $523.0K $195.0K
YoY Change -115.74%

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CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, valuation of equity issuances and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The Company uses estimates in accounting for, among other items, profit share liability, revenue recognition, allowance for doubtful accounts, stock-based compensation, income tax provisions, excess and obsolete inventory reserve and impairment of intellectual property. Actual results could differ from those estimates.</p>
CY2020Q4 us-gaap Cash
Cash
0 USD
CY2021 us-gaap Quarterly Financial Information Income Taxes Significant Variation Description
QuarterlyFinancialInformationIncomeTaxesSignificantVariationDescription
Corporate taxpayers may carryback net operating losses (“NOLs”) originating between 2018 and 2020 for up to five years, which was not previously allowed under the 2017 Tax Act. The CARES Act also eliminates the 80% of taxable income limitations by allowing corporate entities to fully utilize NOL carryforwards to offset taxable income in 2018, 2019 or 2020.
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22603326 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31102904 shares
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Financial instruments that subject the Company to credit risk consist of cash and equivalents on deposit with financial institutions and accounts receivable. The Company’s cash as of December 31, 2021 and 2020 is maintained at high-quality financial institutions and has not incurred any losses to date. </p>
CY2021 meec Customer And Supplier Concentrationpolicytextblock
CustomerAndSupplierConcentrationpolicytextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">For each of the years ended December 31, 2021 and 2020, 100% of the Company’s revenue related to eighteen and thirteen customers, respectively. At December 31, 2021 and 2020, 100% of the Company’s accounts receivable related to ten and nine customers, respectively. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">For each of the years ended December 31, 2021 and 2020, 82% and 88% of the Company’s purchases related to two suppliers, respectively. At December 31, 2021 and 2020, 68% and 45% of the Company’s accounts payable and accrued expenses related to two vendors. The Company believes there are numerous other suppliers that could be substituted should the supplier become unavailable or non-competitive.</p>
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2296000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-954798 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-750199 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2114197 USD
CY2021Q4 us-gaap Debt Securities Current
DebtSecuritiesCurrent
13400000 USD
CY2021Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
637084 USD
CY2020Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
169803 USD
CY2021Q4 us-gaap Other Inventory
OtherInventory
86118 USD
CY2020Q4 us-gaap Other Inventory
OtherInventory
23432 USD
CY2021Q4 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
352199 USD
CY2020Q4 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
366892 USD
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1075401 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
560127 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2318796 USD
CY2021 us-gaap Adjustment For Amortization
AdjustmentForAmortization
204599 USD
CY2020 us-gaap Adjustment For Amortization
AdjustmentForAmortization
213666 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2831304 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2894315 USD
CY2021Q4 meec Less Accumulated Depreciation
LessAccumulatedDepreciation
-2809467 USD
CY2020Q4 meec Less Accumulated Depreciation
LessAccumulatedDepreciation
-2814993 USD
CY2020Q4 us-gaap Inventory Real Estate Construction In Process
InventoryRealEstateConstructionInProcess
1807707 USD
CY2021Q4 us-gaap Inventory Real Estate Construction In Process
InventoryRealEstateConstructionInProcess
1807707 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1829544 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1887029 USD
CY2021 meec Straightline Method Description
StraightlineMethodDescription
The Company uses the straight-line method of depreciation over estimated useful lives of 2 to 5 years
CY2021 us-gaap Depreciation
Depreciation
68460 USD
CY2020 us-gaap Depreciation
Depreciation
188675 USD
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2084000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
204600 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.043 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.043 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.335 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.106 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.636 pure
CY2021Q4 meec Licenses And Patents
LicensesAndPatents
3068995 USD
CY2020Q4 meec Licenses And Patents
LicensesAndPatents
3068995 USD
CY2021Q4 meec Convertible Notes Payable Before Discount
ConvertibleNotesPayableBeforeDiscount
0 USD
CY2020Q4 meec Convertible Notes Payable Before Discount
ConvertibleNotesPayableBeforeDiscount
4450000 USD
CY2021Q4 meec Convertible Notes Payable Less Discounts
ConvertibleNotesPayableLessDiscounts
0 USD
CY2020Q4 meec Convertible Notes Payable Less Discounts
ConvertibleNotesPayableLessDiscounts
-394878 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.361 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.006 pure
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002 pure
CY2021Q4 us-gaap Convertible Debt
ConvertibleDebt
0 USD
CY2020Q4 us-gaap Convertible Debt
ConvertibleDebt
4055122 USD
CY2021Q4 meec Convertible Notes Payable Net Of Discount And Issuance Cost
ConvertibleNotesPayableNetOfDiscountAndIssuanceCost
0 USD
CY2020Q4 meec Convertible Notes Payable Net Of Discount And Issuance Cost
ConvertibleNotesPayableNetOfDiscountAndIssuanceCost
0 USD
CY2021Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
0 USD
CY2020Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
4055122 USD
CY2021Q2 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
30000 USD
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021 us-gaap Interest Expense
InterestExpense
41319 USD
CY2020 us-gaap Interest Expense
InterestExpense
41432 USD
CY2021 meec Schedule Of Unsecured Notes Payable
ScheduleOfUnsecuredNotesPayable
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2021</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2020</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Unsecured note payable</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">13,154,931</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">13,154,931</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Less discounts and debt issuance costs</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(1,283,677 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(3,260,647 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Total unsecured note payable</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">11,871,254</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">9,894,284</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Less current portion</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(11,871,254 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Unsecured note payable, net of current portion</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">9,894,284</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2021 meec Unamortized Balance Of Discount
UnamortizedBalanceOfDiscount
1204488 USD
CY2021Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Gross
DebtIssuanceCostsLineOfCreditArrangementsGross
79189 USD
CY2021 meec Profit Share Beginning Balance
ProfitShareBeginningBalance
2305308 USD
CY2021 meec Addition
Addition
0 USD
CY2021 us-gaap Gain Loss On Foreign Currency Fair Value Hedge Derivatives
GainLossOnForeignCurrencyFairValueHedgeDerivatives
531435 USD
CY2021 meec Profit Share Ending Balance
ProfitShareEndingBalance
2836743 USD
CY2020 meec Profit Share Beginning Balance
ProfitShareBeginningBalance
2328845 USD
CY2020 meec Addition
Addition
0 USD
CY2020 us-gaap Gain Loss On Foreign Currency Fair Value Hedge Derivatives
GainLossOnForeignCurrencyFairValueHedgeDerivatives
-23537 USD
CY2021Q4 meec Notes Receivable From Related Party
NotesReceivableFromRelatedParty
45000 USD
CY2021Q4 meec Investments In Related Party
InvestmentsInRelatedParty
25000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
351100 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Rolling Year Two
OperatingLeasesFutureMinimumPaymentsDueInRollingYearTwo
45000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
11250 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four And Five Years
OperatingLeasesFutureMinimumPaymentsDueInFourAndFiveYears
407350 USD
CY2021Q4 meec Less Discount
LessDiscount
-12592 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
394758 USD
CY2021Q4 meec Less Current Portion
LessCurrentPortion
-340207 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
54551 USD
CY2021 meec Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P1Y
CY2021Q4 meec Weighted Average Discount Rate
WeightedAverageDiscountRate
0.050 pure
CY2021Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
438840 USD
CY2021 meec Right Of Use Asset Amortization
RightOfUseAssetAmortization
405771 USD
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
390098 USD
CY2021 us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
1011488 USD
CY2020 us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
1974080 USD
CY2021Q4 meec Prepaid And Other Current Assets
PrepaidAndOtherCurrentAssets
156979 USD
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12553326 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.55
CY2020 meec Weighted Average Remaining Contractual Life Years Beginning Balance
WeightedAverageRemainingContractualLifeYearsBeginningBalance
P4Y7D
CY2020 meec Aggregate Intrinsic Value Beginning Balance
AggregateIntrinsicValueBeginningBalance
927 USD
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
4425000 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.38
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P4Y8M23D
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
1500 shares
CY2020 meec Weighted Average Exercise Price Exercises
WeightedAverageExercisePriceExercises
0.17
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
758500 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.68
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
16218326 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.50
CY2020 meec Weighted Average Remaining Contractual Life Years Ending Balance
WeightedAverageRemainingContractualLifeYearsEndingBalance
P3Y6M25D
CY2020 meec Aggregate Intrinsic Value Ending
AggregateIntrinsicValueEnding
3588631 USD
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
2350000 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.78
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P5Y
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
250000 shares
CY2021 meec Weighted Average Exercise Price Exercises
WeightedAverageExercisePriceExercises
0.55
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
18318326 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.53
CY2021 meec Weighted Average Remaining Contractual Life Years Ending Balance
WeightedAverageRemainingContractualLifeYearsEndingBalance
P2Y10M20D
CY2021 meec Aggregate Intrinsic Value Ending
AggregateIntrinsicValueEnding
2961965 USD
CY2020 meec Stock Issued During Period Shares Stock Options Exercisable
StockIssuedDuringPeriodSharesStockOptionsExercisable
16093326 shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.50
CY2020 meec Options Exercisable Ending Balance
OptionsExercisableEndingBalance
P3Y6M21D
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3532381 USD
CY2021 meec Stock Issued During Period Shares Stock Options Exercisable
StockIssuedDuringPeriodSharesStockOptionsExercisable
18318326 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.53
CY2021 meec Options Exercisable Ending Balance
OptionsExercisableEndingBalance
P2Y10M20D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2961965 USD
CY2020Q2 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
250000 shares
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.19
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
37882 USD
CY2021Q1 meec Warrants Issued Upon Cashless Exercise Of Warrants
WarrantsIssuedUponCashlessExerciseOfWarrants
705166 shares
CY2021Q1 meec Warrants Purchase Upon Common Stock Shares
WarrantsPurchaseUponCommonStockShares
705166 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.35
CY2021Q1 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
246808 USD
CY2021Q1 meec Warrants Issued Upon Cashless Exercise Of Warrants
WarrantsIssuedUponCashlessExerciseOfWarrants
97675 shares
CY2021Q1 meec Warrants Purchase Upon Common Stock Shares
WarrantsPurchaseUponCommonStockShares
150000 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.45
CY2021Q1 meec Warrants Market Value
WarrantsMarketValue
1.29
CY2021Q1 meec Warrants Issued Upon Cashless Exercise Of Warrants
WarrantsIssuedUponCashlessExerciseOfWarrants
97015 shares
CY2021Q1 meec Warrants Purchase Upon Common Stock Shares
WarrantsPurchaseUponCommonStockShares
175000 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.70
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
9312000 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7189000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1762000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1518000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Other
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsOther
143000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Other
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsOther
212000 USD
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
11217000 USD
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
8919000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
41000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
48000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-76000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-67000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
117000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1115000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11100000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
8804000 USD
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2021 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The CARES Act also eliminates the 80% of taxable income limitations by allowing corporate entities to fully utilize NOL carryforwards to offset taxable income in 2018, 2019 or 2020. Taxpayers may generally deduct interest up to the sum of 50% of adjusted taxable income plus business interest income (30% limit under the 2017 Tax Act) for 2019 and 2020. The CARES Act allows taxpayers with alternative minimum tax credits to claim a refund in 2020 for the entire amount of the credits instead of recovering the credits through refunds over a period of years, as originally enacted by the 2017 Tax Act. In addition, the CARES Act raises the corporate charitable deduction limit to 25% of taxable income and makes qualified improvement property generally eligible for 15-year cost-recovery and 100% bonus depreciation.
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2296000 USD

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