Midwest Energy Emissions Corp. Files 2023 Annual Report (10-K)

TL;DR

<b>Midwest Energy Emissions Corp. filed its 2023 10-K, detailing its fiscal year-end results and corporate information.</b>

AI Summary

Midwest Energy Emissions Corp. (BCHT) filed a Annual Report (10-K) with the SEC on April 16, 2024. Filed its 2023 10-K report on April 16, 2024. Fiscal year ended December 31, 2023. Company address: 1810 Jester Drive, Corsicana, TX 75109. Business phone: 614-505-6115. Previous names include China Youth Media, Inc. and DIGICORP, INC.

Why It Matters

For investors and stakeholders tracking Midwest Energy Emissions Corp., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operational status for the fiscal year 2023. It includes historical corporate information, such as previous names and incorporation details, offering context for the company's evolution.

Risk Assessment

Risk Level: — Midwest Energy Emissions Corp. shows moderate risk based on this filing. The filing is a standard 10-K, providing routine disclosure without immediate red flags.

Analyst Insight

Review the full 10-K for detailed financial statements, risk factors, and management discussion to understand the company's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-16 — Filing Date (Filed as of date)
• 614-505-6115 — Business Phone (Business phone number)

Key Players & Entities

• Midwest Energy Emissions Corp. (company) — Filer name
• China Youth Media, Inc. (company) — Former company name
• DIGICORP, INC. (company) — Former company name
• Corsicana, TX (location) — Business address city and state

FAQ

Industry Context

The company operates in the measuring and controlling devices sector, specifically focusing on emissions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, expenses, and profitability.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing the company.
3. Examine management's discussion and analysis (MD&A) for insights into business strategy and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-16: 10-K Filing Date — Date the annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings.

Key Financial Figures

• $1.4 million — stration process. We invested more than $1.4 million in the capital equipment for this proje

Filing Documents

• meec_10k.htm (10-K) — 1429KB
• meec_ex311.htm (EX-31.1) — 10KB
• meec_ex312.htm (EX-31.2) — 10KB
• meec_ex321.htm (EX-32.1) — 4KB
• meec_ex322.htm (EX-32.2) — 4KB
• 0001477932-24-002170.txt (&nbsp;) — 6369KB
• sdff-20231231.xsd (EX-101.SCH) — 67KB
• sdff-20231231_lab.xml (EX-101.LAB) — 358KB
• sdff-20231231_cal.xml (EX-101.CAL) — 48KB
• sdff-20231231_pre.xml (EX-101.PRE) — 306KB
• sdff-20231231_def.xml (EX-101.DEF) — 173KB
• meec_10k_htm.xml (XML) — 955KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 17 Item 1C. Cybersecurity 17 Item 2.

Properties

Properties 18 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 19 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20 Item 6. [Reserved] 21 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 30 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 31 Item 9A.

Controls and Procedures

Controls and Procedures 31 Item 9B. Other Information 32 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 32 PART III Item 10. Directors, Executive Officers and Corporate Governance 33 Item 11.

Executive Compensation

Executive Compensation 37 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 42 Item 13. Certain Relationships and Related Transactions, and Director Independence 43 Item 14. Principal Accountant Fees and Services 45 PART IV Item 15. Exhibits and Financial Statement Schedules 47 Item 16. Form 10-K Summary 47

Signatures

Signatures 48 2 Table of Contents CERTAIN DEFINED TERMS As used in this document, unless the context otherwise requires, references to: "BAC" means brominated powdered activated carbon. "EGUs" means electric generating units. "EPA" means the U.S. Environmental Protection Agency. "ESP" means electro-static precipitators. "Hg" means mercury. "MATS" means Mercury and Air Toxics Standards. "Midwest Energy Emissions Corp.," "ME2C Environmental," the "Company," "we," "us," and "our" means Midwest Energy Emissions Corp. and its wholly owned, consolidated subsidiary, or either or both of them, as the context may require; "MW" means megawatts. "NOX" means oxides of nitrogen. "PAC" means powdered activated carbon. "REEs" means rare earth elements. "SCR" means selective catalytic reduction. "SEA" means the Company's proprietary sorbent enhancing additive. "SOX" means oxides of sulfur.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking statements," as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect our current expectations regarding our future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Forward-looking statements are generally identified by using words such as "anticipate," "believe," "plan," "expect," "intend," "will," and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such risks include, without limitation, the following: the loss of major customers; dependence on availability and retention of key suppliers; changes, or lack of changes, in environmental regulations; risks related to advancements in technologies; lack of diversification in the Company's business; risks related to intellectual property, including the ability to protect intellectual property and the success of any patent litigation; competition risks; changes in demand for coal as a fuel source for electricity production; 3 Table of Contents ability to retain key personnel; absence of a liquid public market for our common stock; share price volatility; the potential that dividends may never be declared; and other factors discussed in this report under the caption " Risk Factors ". Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking st

Business

Item 1. Business. General We are an environmental services and technologies company developing and delivering patented and proprietary solutions to the global power industry, specializing in mercury emissions removal technologies. Products and Services We provide mercury capture solutions driven by our patented two-part Sorbent Enhancement Additive (SEA) process using a powerful combination of science and engineering. Our leading-edge services have been shown to achieve mercury emissions removal at a significantly lower cost and with less operational impact to coal-fired power plants than other used methods, while maintaining and/or increasing power plant output and preserving the marketability of byproducts for beneficial use. We design systems and materials tailored and formulated specifically to each customer's coal-fired units. Our mercury removal technologies and systems will achieve mercury removal levels which meet or exceed the 2012 Coal- and Oil-Fired Electric Utility Steam Generating Units National Emission Standards for Hazardous Air Pollutants, as revised, known as the MATS, requirements with lower cost and plant systems impacts than typical PAC or BAC sorbent injection systems. Our products have been shown to be successful across a myriad of fuel and system types, tunable to any configuration, and environmentally friendly, allowing for the recycling of fly ash for beneficial use. Our SEA technology provides total mercury control with solutions that are based on a thorough scientific understanding of actual and probable interactions involved in mercury capture in coal-fired flue gas. A complete understanding of the complexity of mercury-sorbent-flue gas interactions and chemisorption mechanisms allows for optimal control strategy and product formulation, resulting in effective mercury capture. Combined with a thorough proprietary audit of the plant and its configuration and instrumentation, we believe our complete science and engineering approac

View Full Filing

View this 10-K filing on SEC EDGAR