Strategic Environmental & Energy Resources Files Q2 10-Q

TL;DR

**SENR Q2 10-Q FILED: Financials and operations update for period ending June 30, 2024.**

AI Summary

Strategic Environmental & Energy Resources, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Specific financial figures and operational highlights are presented within the report.

Why It Matters

This filing provides investors and stakeholders with an update on the company's financial health and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: medium — The company operates in the hazardous waste management sector, which carries inherent environmental and regulatory risks.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20240819 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Strategic Environmental & Energy Resources, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240819 (date) — Filing date of the 10-Q
• HAZARDOUS WASTE MANAGEMENT (industry) — Company's Standard Industrial Classification

FAQ

Filing Documents

• form10-q.htm (10-Q) — 889KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-033131.txt ( ) — 5242KB
• senr-20240630.xsd (EX-101.SCH) — 40KB
• senr-20240630_cal.xml (EX-101.CAL) — 74KB
• senr-20240630_def.xml (EX-101.DEF) — 136KB
• senr-20240630_lab.xml (EX-101.LAB) — 318KB
• senr-20240630_pre.xml (EX-101.PRE) — 246KB
• form10-q_htm.xml (XML) — 868KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024, and 2023 (unaudited) 4 Condensed Consolidated Statement of Changes in Stockholders' Deficit as of June 30, 2024, and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 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 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 24

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 28

SIGNATURES

SIGNATURES 29 2 Part I. FINANCIAL INFORMATION Item 1. Financial Statements STRATEGIC ENVIRONMENTAL & ENERGY RESOURCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (unaudited) * ASSETS Current Assets Cash and cash equivalents $ 64,300 $ 57,900 Accounts receivable, net of allowance for credit losses of $ 24,200 and $ 24,200 , respectively 430,800 340,800 Inventory 2,100 16,800 Contract assets 13,900 17,000 Prepaid expenses and other current assets 270,200 81,400 Assets held for sale - 54,300 Total Current Assets 781,300 568,200 Property and equipment, net 49,800 33,600 Intangible Assets, net 16,300 17,900 Right of use assets 159,700 191,300 Other assets 40,000 40,000 TOTAL ASSETS $ 1,047,100 $ 851,000 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable $ 1,146,000 $ 816,600 Accrued liabilities 4,239,800 3,759,300 Contract liabilities 674,200 829,800 Deferred revenue 285,200 43,300 Customer deposits - 26,800 Short term notes 4,641,800 4,243,100 Short term notes and accrued interest - related party 205,800 201,400 Convertible notes 1,605,000 1,605,000 Current portion of long-term debt and finance lease obligations 509,100 509,800 Current portion of lease liabilities 72,500 72,500 Liabilities held for sale 34,500 42,900 Total Current Liabilities 13,413,900 12,150,500 Lease liabilities net of current portion 110,500 145,100 Long term debt 1,840,300 1,843,900 Total Liabilities 15,364,700 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 June 30, 2024 and December 31, 2023 65,100 65,100 Common stock issuable 25,000 25,000 Additional paid-in capital

View Full Filing

View this 10-Q filing on SEC EDGAR