The company through its subsidiaries provides waste management environmental services
to residential, commercial, industrial, and municipal customers in the geographical
region of the South East.
The company’s subsidiaries are involved in the brokerage business and operate
a waste transfer station. The company’s expansion has taken place by the
following membership and asset purchases:
On April 7, 2016, the Company entered into a membership purchase agreement with
Creative Waste Solutions, LLC, a Florida limited liability corporation (“Creative”)
whereby the Company purchased 100% of the membership interest for $25,000.
On August 26, 2016, the Company purchased certain assets of Florida based Easy
Disposal, Inc., for an aggregate amount of $380,000 which includes 50,000 shares
of common stock of the Company, valued at $2.00 per share and the remainder in
cash. The Company paid for this acquisition by issuing unsecured notes payable
in the aggregate amount of $300,000 that bear interest at 10% per annum and are
payable upon demand.
Brokerage Division:
Our brokerage divisions consist of Creative Waste Solutions, LLC and Integrated
Waste Transportation Services. Both entities own nominal assets and their accounting
only been consolidated since their respective dates of acquisitions of April 7,
2016 and May 22, 2016. Creative Waste Solutions, LLC does not maintain any long
term contracts and all revenues are generated through “phone in” orders.
Fees are charged based on availability of subcontractors, dumpsters, volume and
frequency of pick up. Integrated Waste Transportation maintains a long term contract
with a large local Waste Management company and acts as subcontractor for small
local waste Management needs.
Waste Stations:
We accept various waste at our Hollywood Florida location. Waste is delivered
by small local haulers consolidated and compacted to reduce the volume and increase
the density of the waste and transported by transfer trucks disposal sites.
Access to transfer stations is critical to haulers who collect waste in areas
not in close proximity to disposal facilities. Fees charged to third parties at
transfer stations are usually based on the type and volume or weight of the waste
deposited at the transfer station, the distance to the disposal site, market rates
for disposal costs and other general market factors.
We do not own the physical site, but we operate under a long term lease on the
property. We do own the permits and necessary documentation and responsible for
any regulatory requirements relating to the operation and closure of the transfer
station.
Land Fill Operations.
Currently, we do not own or operate any land fill operations. All waste accepted
by our Waste Station and through our brokerage house is transported to legal entities
that operate disposal sites.
Mineral Exploration
On April 14, 2015 the Company acquired the working interest of two producing oil
and gas properties in Alberta Canada for US $80,000.
The Company has determined that the asset does not fit the future plans of the
Company. Under the guidelines of ASC 360 Newly Acquired Asset Classified as Held
for Sale, the Company is actively seeking to dispose of the asset through a sale.
As part of the treatment of the asset for sale the Company under ASC 205 Discontinued
Operations has treated the expenses related with its acquisition of $3,942 as
discontinued operations expense. During the year ended September 30, 2015, the
Company determined that this asset had become impaired and took a charge to earnings
of $80,000 which is also reflected in discontinued operations.
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