Strategic Environmental & Energy Resources Files Q1 2024 10-Q

TL;DR

SENR filed its Q1 2024 10-Q. Financials are in.

AI Summary

Strategic Environmental & Energy Resources, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details financial information for the first quarter of 2024, including balance sheet data and operational updates. The company is involved in hazardous waste management.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Strategic Environmental & Energy Resources, Inc. for the first quarter of 2024.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial reporting and market performance.

Key Numbers

• 2024-03-31 — End of Reporting Period (Marks the end of the financial quarter being reported.)
• 2024-05-20 — Filing Date (Date the 10-Q was officially submitted to the SEC.)
• 2023-12-31 — Previous Year End (Provides a comparison point for financial data.)

Key Players & Entities

• Strategic Environmental & Energy Resources, Inc. (company) — Filer of the 10-Q
• 0001576197 (company) — Central Index Key for the filer
• 20240331 (date) — End of the reporting period
• 20240520 (date) — Filing date
• HAZARDOUS WASTE MANAGEMENT (industry) — Company's Standard Industrial Classification

FAQ

Key Financial Figures

• $0.01 — d 65,088,575 65,088,575 * less than $0.01 The accompanying notes are an integra

Filing Documents

• form10-q.htm (10-Q) — 726KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-020683.txt ( ) — 4684KB
• senr-20240331.xsd (EX-101.SCH) — 40KB
• senr-20240331_cal.xml (EX-101.CAL) — 73KB
• senr-20240331_def.xml (EX-101.DEF) — 134KB
• senr-20240331_lab.xml (EX-101.LAB) — 309KB
• senr-20240331_pre.xml (EX-101.PRE) — 242KB
• form10-q_htm.xml (XML) — 679KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024, and 2023 (unaudited) 4 Condensed Consolidated Statement of Changes in Stockholders' Deficit as of March 31, 2024, and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024, and 2023 (unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 25

SIGNATURES

SIGNATURES 26 2 Part I. FINANCIAL INFORMATION Item 1. Financial Statements STRATEGIC ENVIRONMENTAL & ENERGY RESOURCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (unaudited) * ASSETS Current Assets Cash and cash equivalents $ 95,700 $ 57,900 Accounts receivable, net of allowance for credit losses of $ 24,200 and $ 24,200 , respectively 416,400 340,800 Inventory 2,100 16,800 Contract assets 57,300 17,000 Prepaid expenses and other current assets 162,600 81,400 Assets held for sale - 54,300 Total Current Assets 734,100 568,200 Property and equipment, net 31,900 33,600 Intangible Assets, net 17,300 17,900 Right of use assets 175,700 191,300 Other assets 40,000 40,000 TOTAL ASSETS $ 999,000 $ 851,000 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable $ 1,223,800 $ 816,600 Accrued liabilities 3,980,500 3,759,300 Contract liabilities 567,300 829,800 Deferred revenue 20,900 43,300 Customer deposits - 26,800 Short term notes 4,453,000 4,243,100 Short term notes and accrued interest - related party 203,600 201,400 Convertible notes 1,605,000 1,605,000 Current portion of long-term debt and capital lease obligations 509,900 509,800 Current portion of lease liabilities 72,500 72,500 Liabilities held for sale 34,500 42,900 Total Current Liabilities 12,671,000 12,150,500 Lease liabilities net of current portion 128,100 145,100 Long term debt 1,841,500 1,843,900 Total Liabilities 14,640,600 14,139,500 Commitments and contingencies - - Stockholders' deficit Preferred stock; $ .001 par value; 5,000,000 shares authorized; - 0 - shares issued - - Common stock; $ .001 par value; 70,000,000 shares authorized; 65,088,575 shares issued, issuable* and outstanding December 31, 2023 and December 31, 2022 65,100 65,100 Common stock issuable 25,000 25,000 Additional paid-in capital 2

View Full Filing

View this 10-Q filing on SEC EDGAR