Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 15, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | Enservco Corporation | ||
Entity Central Index Key | 319,458 | ||
Trading Symbol | ensv | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 51,263,334 | ||
Entity Public Float | $ 12.2 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash and cash equivalents | $ 391 | $ 621 |
Accounts receivable, net | 11,761 | 4,814 |
Prepaid expenses and other current assets | 868 | 971 |
Inventories | 576 | 407 |
Income tax receivable, current | 57 | 224 |
Total current assets | 13,653 | 7,037 |
Property and Equipment, net | 29,417 | 34,618 |
Income tax receivable, noncurrent | 57 | |
Other Assets | 1,123 | 715 |
TOTAL ASSETS | 44,250 | 42,370 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 5,465 | 3,683 |
Current portion of long-term debt | 182 | 318 |
Total current liabilities | 5,647 | 4,001 |
Long-Term Liabilities | ||
Senior revolving credit facility | 27,066 | 23,181 |
Subordinated debt | 2,229 | |
Long-term debt, less current portion | 252 | 304 |
Deferred income taxes, net | 469 | |
Warrant liability | 831 | |
Total long-term liabilities | 30,378 | 23,954 |
Total liabilities | 36,025 | 27,955 |
Commitments and Contingencies (Note 11) | ||
Stockholders’ Equity | ||
Preferred stock. $0.005 par value, 10,000,000 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock. $0.005 par value, 100,000,000 shares authorized, 51,197,989 and 51,171,260 shares issued, respectively; 103,600 shares of treasury stock; and 51,094,389 and 51,067,660 shares outstanding, respectively | 255 | 255 |
Additional paid-in-capital | 19,571 | 18,868 |
Accumulated deficit | (11,601) | (4,708) |
Total stockholders’ equity | 8,225 | 14,415 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 44,250 | $ 42,370 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.005 | $ 0.005 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.005 | $ 0.005 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 51,197,989 | 51,171,260 |
Common stock, shares outstanding (in shares) | 51,094,389 | 51,067,660 |
Treasury stock, shares (in shares) | 103,600 | 103,600 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue | ||
Revenues | $ 40,752 | $ 24,608 |
Expenses | ||
Cost of Revenue | 33,604 | 24,821 |
General and administrative expenses | 5,243 | 3,780 |
Patent litigation and defense costs | 129 | 151 |
Severance and Transition Costs | 784 | |
Depreciation and amortization | 6,488 | 6,865 |
Total operating expenses | 45,464 | 35,617 |
Loss from operations | (4,712) | (11,009) |
Other income (expense) | ||
Interest expense | (2,261) | (1,766) |
(Loss) gain on disposal of equipment | (18) | 242 |
Other (expense) income | (463) | 44 |
Total other expense | (2,742) | (1,480) |
Loss before tax benefit | (7,454) | (12,489) |
Income tax benefit | 561 | 3,938 |
Net loss | $ (6,893) | $ (8,551) |
Loss per common share – basic and diluted (in dollars per share) | $ (0.13) | $ (0.22) |
Basic and diluted weighted average number of common shares outstanding (in shares) | 51,070 | 39,117 |
Well Enhancement Services Segment [Member] | ||
Revenue | ||
Revenues | $ 34,686 | $ 17,864 |
Expenses | ||
Cost of Revenue | 25,902 | 15,654 |
Depreciation and amortization | 4,817 | 4,932 |
Water Transfer Services Segment [Member] | ||
Revenue | ||
Revenues | 2,128 | 184 |
Expenses | ||
Cost of Revenue | 2,666 | 1,629 |
Depreciation and amortization | 985 | 1,146 |
Water Hauling Services Segment [Member] | ||
Revenue | ||
Revenues | 3,684 | 3,838 |
Expenses | ||
Cost of Revenue | 3,979 | 3,797 |
Depreciation and amortization | 655 | 669 |
Construction Services Segment [Member] | ||
Revenue | ||
Revenues | 254 | 2,713 |
Expenses | ||
Cost of Revenue | 212 | 2,992 |
Depreciation and amortization | ||
Unallocated and Other Segments [Member] | ||
Revenue | ||
Revenues | 9 | |
Expenses | ||
Cost of Revenue | 845 | 749 |
Depreciation and amortization | $ 31 | $ 118 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 38,127 | |||
Balance at Dec. 31, 2015 | $ 191 | $ 13,852 | $ 3,843 | $ 17,886 |
Stock issued in secondary offering (in shares) | 12,938 | |||
Stock issued in secondary offering | $ 64 | 4,352 | 4,416 | |
Stock issued for services (in shares) | 3 | |||
Stock issued for services | 2 | 2 | ||
Stock-based compensation | 662 | 662 | ||
Net loss | (8,551) | (8,551) | ||
Balance (in shares) at Dec. 31, 2016 | 51,068 | |||
Balance at Dec. 31, 2016 | $ 255 | 18,868 | (4,708) | 14,415 |
Net loss | (6,893) | (6,893) | ||
Cashless exercise of warrants, net of issuance costs (in shares) | 26 | |||
Stock-based compensation, net of issuance costs | 703 | 703 | ||
Balance (in shares) at Dec. 31, 2017 | 51,094 | |||
Balance at Dec. 31, 2017 | $ 255 | $ 19,571 | $ (11,601) | $ 8,225 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
OPERATING ACTIVITIES | ||
Net loss | $ (6,893,000) | $ (8,551,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 6,488,000 | 6,865,000 |
Loss (gain) on disposal of equipment | 18,000 | (242,000) |
Unrealized loss on fair value of warrants | 524,000 | |
Deferred income taxes | (331,000) | (3,938,000) |
Stock-based compensation | 704,000 | 662,000 |
Stock issued for services | 2,000 | |
Amortization of debt issuance costs and discount | 484,000 | 153,000 |
Provision for bad debt expense | 37,000 | 157,000 |
Changes in operating assets and liabilities | ||
Accounts receivable | (7,069,000) | 2,066,000 |
Inventories | (168,000) | (99,000) |
Prepaid expenses and other current assets | 84,000 | 261,000 |
Income taxes receivable | 111,000 | (1,000) |
Other assets | (403,000) | 26,000 |
Accounts payable and accrued liabilities | 2,425,000 | 642,000 |
Net cash used in operating activities | (3,989,000) | (1,997,000) |
INVESTING ACTIVITIES | ||
Purchases of property and equipment | (1,766,000) | (5,165,000) |
Proceeds from insurance claims | 183,000 | 280,000 |
Proceeds from disposal of equipment | 279,000 | 139,000 |
Net cash used in investing activities | (1,304,000) | (4,746,000) |
FINANCING ACTIVITIES | ||
Gross proceeds from stock issuance | 5,175,000 | |
Stock issuance costs and registration fees | (1,000) | (758,000) |
Net line of credit borrowings | 4,312,000 | 2,474,000 |
Proceeds from issuance of long-term debt | 1,000,000 | |
Repayment of long-term debt | (189,000) | (282,000) |
Payment of debt issuance costs for credit facilities | (59,000) | (50,000) |
Net cash provided by financing activities | 5,063,000 | 6,559,000 |
Net decrease in Cash and Cash Equivalents | (230,000) | (184,000) |
Cash and Cash Equivalents, beginning of period | 621,000 | 805,000 |
Cash and Cash Equivalents, end of period | 391,000 | 621,000 |
Supplemental cash flow information: | ||
Cash paid for interest | 674,000 | 67,000 |
Cash paid (refunded) for income taxes | (222,000) | 14,000 |
Supplemental Disclosure of Non-cash Investing and Financing Activities: | ||
Non-cash proceeds from subordinated debt borrowings | 1,500,000 | |
Non-cash repayment of revolving credit facility | (1,500,000) | |
Non-cash proceeds from revolving credit facility | $ 1,124,000 | $ 1,543,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 – Basis of Presentation Enservco Corporation (“ Enservco”) and its wholly-owned subsidiaries (collectively referred to as the “Company”, “we” or “us”) provide various services to the domestic onshore oil and natural gas industry. These services include frac water heating, hot oiling and acidizing (well enhancement services); water transfer and water treatment services (Water Transfer Services); water hauling, fluid disposal, frac tank rental (water hauling services); and dirt hauling and other general oilfield services (construction services). The accompanying consolidated financial statements have been derived from the accoun ting records of Enservco Corporation, Heat Waves Hot Oil Service LLC (“Heat Waves”), Dillco Fluid Service, Inc. (“Dillco”), Heat Waves Water Management LLC (“HWWM”), Trinidad Housing LLC, HE Services LLC, and Real GC LLC (collectively, the “Company”) as of December 31, 2017 2016 The below table provides an overview of the Company ’s current ownership hierarchy: Name State of Formation Ownership Business Dillco Fluid Service, Inc. Ka nsas 100% by Enservco Oil and natural gas field fluid logistic services. Heat Waves Hot Oil Service LLC Colorado 100% by Enservco Oil and natural gas well services, including logistics and stimulation. Heat Waves Water Management LLC Colorado 100% by Enservco Water Transfer and Water Treatment Services. HE Services LLC (“ HES”) Nevada 100% by Heat Waves No active business operations. Owns construction equipment used by Heat Waves. Real GC, LLC (“ Real GC”) Colorado 100% by Heat Waves No active business operations. Owns real property in Garden City, Kansas that is utilized by Heat Waves. On November 24, 2015, HWWM was organized under Colorado law as a wholly owned subsidiary of Enservco for the purpose of launching a new water management division. Effective January 1, 2016, $4.3 The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“ GAAP”) All significant inter-company balances and transactions have been eliminated in the accompanying consolidated financial statements. |
Note 2 - Liquidity and Manageme
Note 2 - Liquidity and Managements' Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | Note 2 – Liquidity and Management's Plans As described in more detail in Note 5, Revolving Credit Facilities on August 10, 2017, "2017 three $30 August 10, 2017, $21.5 "2014 2017 2014 availability of approximately $4.6 As of December 31, 2017, idity was approximately $ 2.4 $2.1 million of availability under the New Credit Facility provided pursuant to the 2017 391,000 in cash. As of September 30, 2017, that requires our Fixed Charge Coverage Ratio (as defined in the 2017 not 1.10 1.00 January 1, 2017. September 30, 2017, 0.62, 2017 2017 November 20, 2017, October 31, 2017 November 30, 2017 $20,000. December 31, 2017, 2017 On March 31, 2017, 2014 he Company to raise $1.5 March 31, 2017; ( $1 May 15, 2017; ( September 12, 2019 April 30, 2018; ( four December 31, 2016. March 31, 2017, $1.5 As a result of moving the maturity date to April 30, 2018, $25.7 March 28, 2017) sified as a current liability beginning in May 2017. As of December 31, 2016, ’s available liquidity was $5.2 $4.5 $621,000 During the years ended December 31, 2017 2016, of approximately $4.0 $2.0 |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three ess to be cash equivalents. The Company continually monitors its positions with, and the credit quality of, the financial institutions with which it invests. Enservco maintains its excess cash in various financial institutions, where deposits may Accounts Receivable Accounts receivable are stated at the amounts billed to customers, net of an allowance fo r uncollectible accounts. The Company provides an allowance for uncollectable accounts based on a review of outstanding receivables, historical collection information and existing economic conditions. The allowance for uncollectible amounts is continually reviewed and adjusted to maintain the allowance at a level considered adequate to cover future losses. The allowance is management's best estimate of uncollectible amounts and is determined based on historical collection experience related to accounts receivable coupled with a review of the current status of existing receivables. The losses ultimately incurred could differ materially in the near term from the amounts estimated in determining the allowance. As of December 31, 2017, December 31, 2016, 70,000 $34,000, December 31, 2017 2016, 37,000 and $157,000, Concentrations As of December 31, 2017, one 10% 11%. 8% December 31, 2017. one 10% 13% December 31, 2017. December 31, 2016, three 10% 14%, 14% 11%, three 14%, 11% 12% December 31, 2016. Inventories Inventory consists primarily of propane, diesel fuel and chemicals that are used in the servicing of oil wells and is carried at the lower of cost or net realizable value in accordance with the first first December 31, 2017 2016, not Property and Equipment Property and equipment consists of ( 1 2 3 sed for the disposal of water; and ( 4 5 30 Any difference between net book value of the property and equipment and the proceeds of an assets ’ sale or settlement of an insurance claim is recorded as a gain or loss in the Company’s earnings. Leases The Company conducts a m ajor part of its operations from leased facilities. Each of these leases is accounted for as operating leases. Normally, the Company records rental expense on its operating leases over the lease term as it becomes payable. If rental payments are not June 2022. December 31, 2017, 2016, $96,000 and $92,000, The Company amortizes leasehold improvements over the shorter of the life of the lease or the life of the improvements. During the years ended December 31, 2017 2016, f approximately $ 39,000 and $26,000. The Company has leased trucks and equipment in the normal course of business, which were recorded as an operating lease. The Company recorded rental expense on equipment under operating leases over the lease term as it becomes payab le; there were no no December 31, 2017 2016. Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not not No December 31, 2017 2016. Revenue Recognition The Company recognizes revenue when evidence of an arrangement exists, the fee is fixed or determinable, services are provided, and collection is reasonably assured. Earning s (Loss) Per Share Earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings per share is calculated by dividing net income (loss) by the diluted weigh ted average number of common shares. The diluted weighted average number of common shares is computed using the treasury stock method for common stock that may As of December 31, 2017, 2016, were outstanding stock options and warrants to acquire an aggregate of 6,457,335 and 4,391,169 December 31, 2017 2016, $6.9 and $8.5 December 31, 2017, $1.5 not not December 31, 2017 201 6. Loan Fees and Other Deferred Costs In the normal course of business, the Company enters into loan agreements and amendments thereto with its primary lending institutions. The majority of these lending agreements and amendments require origination fees and other fees in the course of execut ing the agreements. For all costs associated with the execution of the lending agreements, the Company recognizes these as capitalized costs and amortizes these costs over the term of the loan agreement. All other costs not December 31, 2017, $232,000 in unamortized loan fees and other deferred costs associated with the 2017 three Der ivative Instruments From time to time, the Company has interest rate swap agreements in place to hedge against changes in interest rates. The fair value of the Company ’s derivative instruments are reflected as assets or liabilities on the balance sheet. The accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the resulting designation. Transactions related to the Company’s derivative instruments accounted for as hedges are classified in the same category as the item hedged in the consolidated statement of cash flows. The Company did not December 31, 2017 2016, In connection with the termination of the 2014 August 10, 2017, hanges in the fair value of the interest rate swap agreement were recorded in earnings. The Company was not December 31, 2017. Income Taxes The Company recognizes deferred tax liabilities and assets (Note 8 ) based on the differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements that will result in taxable or deductible amounts in future years. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities will be recognized in income in the period that includes the enactment date. Deferred income taxes are classified as a net current or non-current asset or liability based on the classification of the related asset or liability for financial reporting purposes. A deferred tax asset or liability that is not not The Company accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if it is more likely than not taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized in the financial statements from such a position based on the largest benefit that has a greater than 50% may not Interest and penalties associated with tax positions are recorded in the peri od assessed as income tax expense. The Company files income tax returns in the United States and in the states in which it conducts its business operations. The Company’s United States federal income tax filings for tax years 2013 2017 2013 2017. Fair Value The Company follows authoritative guidance that applies to all financial assets and liabilities required to be measured and reported on a fair value basis. The Company also applies the guidance to non-financial assets and liabilities measured at fair value on a nonrecurring basis, including non-competition agreements and goodwill. The guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions of what market participants would use in pricing the asset or liability based on the best information available in the circumstances. For 2017 not December 31, 2017. The hierarchy is broken down into three Level 1: Quoted prices are available in active markets for identical assets or liabilities; Level 2: Quoted prices in active markets for similar assets and liabilities that are observable for the asset or liability; or Level 3: Unobservable pricing inputs that are generally less observable from objective sources, such as discounted cash flow models or valuations. Stock-based Compensation Stock-based compensation cost is measured at the date of grant, based on the calculated fair value of the award as described below, and is recognized over the requisite service period, which is generally the vesting period of the equity grant. The Company uses the Black-Scholes pricing model as a method for determining the estimated grant date fair value for all stock options awarded to employees, independent contractors, officers, and directors. The expected term of the options is based upon evaluation of historical and expected exercise behavior. The risk-free interest rate is based upon U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life of the grant. Volatility is determined upon historical volatility of our stock and adjusted if future volatility is expected to vary from historical experience. The dividend yield is assumed to be none not The Company uses a Binomial Lattice ("Lattice") model to determine the fair value of certain warrants. The expected term used was the remaining contractual term. Expected volatility is based upon historical volatility over a term consistent with the remaining term. The risk-free interest rate is derived from the yield on zero zero Management Estimates The preparation of the Company ’s 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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the realization of accounts receivable, evaluation of impairment of long-lived assets, stock-based compensation expense, income tax provision, the valuation of deferred taxes, and the valuation of warrant liability and the Company’s interest rate swap. Actual results could differ from those estimates. Reclassifications Certain prior-period amounts have been reclassified for comparative purposes to conform to the fiscal 2017 no Accounting Pronouncements Recently Issued In May 2014, 2014 09 July 2015, one 2015 14 December 15, 2017. not December 15, 2016. 1 2016 08 2 2016 10 3 605 2016 11 4 2016 12 1, 2018 not In February 2016, 2016 02 Leases (Topic 842 12 December 15, 2018, one In August 2016, 2016 15, “Statement of Cash Flows (Topic 230 2016 15 one December 15, 2017 2016 15 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 4 Property and equipment consists of the following at (amounts in thousands): December 31, December 31, 2017 2016 Trucks and vehicles $ 54,925 $ 54,267 Water transfer equipment 4,688 4,520 Other equipment 3,160 2,898 Buildings and improvements 3,551 3,984 Land 681 785 Disposal wells 391 391 Total property and equipment 67,396 66,845 Accumulated depreciation (37,979 ) (32,227 ) Property and equipment – net $ 29,417 $ 34,618 |
Note 5 - Revolving Credit Facil
Note 5 - Revolving Credit Facilities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 5 – Revolving Credit Facilities East West Bank Revolving Credit Facility On August 10, 2017, 2017 with East West Bank which provides for a three $30 2017 85% 85% 2017 no 1 3.5% 1.75%. 0.5% August 10, 2020. 2017 one As of December 31, 2017, 2017 Credit Agreement of approximately $ 27.1 million with interest rates of 5.06 % and 4.88% 24.5 million of outstanding LIBOR Rate borrowings and 6.25 % per year for the approximately $2.6 of outstanding Prime Rate borrowings. As of December 31 , 2017, $2.1 million was available to be drawn under the 2017 Under to the 2017 ( 1 Maintenance of a Fixed Charge Coverage Ratio (“FCCR”) of not 1.10 1.00 January 1, 2017, December 31, 2017, twelve ( 2 In periods when the trailing twelve 1.20 1.00, $1,500,000 2017 On August 10, 2017, $21.8 obligations outstanding under our Prior Credit Facility and fund certain closing costs and fees. 2017 12 1.20 1.00. 31, 2017 $1,500,000. December 31, 2017, 2017 $2.4 In addition, we have agreed with East West Bank that we will not December 31, 2017, 2017 On November 20, 2017, 2017 November 20, 2017, Waiver, East West Bank waived an event of default with respect to the Company’s failure to satisfy the minimum fixed charge coverage ratio set forth in the 2017 September 30, 2017, October 31, 2017 November 30, 2017. $20,000. 2014 PNC Credit Facility In September 2014, "2014 five $30 secured revolving credit facility which replaced a prior revolving credit facility and term loan with PNC that totaled $16 "2012 2014 85% 75% 2014 no 1, 2 3 4.50% 5.50% 3.00% 4.00% 0.375%. August 10, 2017 As of December 31, 2016, 2014 $23.2 December 31, 2016 5.21% 5.27% $21.3 R Rate Loans and 6.75% $1.9 December 31, 2016, $4.5 2014 December 31, 2016, 2014 Debt Issuance Costs We have capitalized certain debt issuance costs incurred in connection with the credit agreements discussed above and these costs are being amortized to interest expense over the term of the facility on a straight-line basis. As of December 31, 2016, $171,000, $232,000 and $259,000 December 31, 2017 2016, December 31, 2017 2016, $448,000 and $153,000 Interest Rate Swap On September 17, 2015, th PNC to protect against variability in future interest payments related to its 2014 $10 1.88% 4.50% 5.50% 4.50% 5.50% 2014 August 10, 2017, $90,000, $72,000. $18,000 The cash flows were discounted by the credit risk of the Company derived by industry and Company performance. As of December 31, 2016, 13.40%. During the years ended December 31, 2016, $72,000 The interest rate swap liability is included in accounts payable and accrued liabilities on the Company’s balance sheet. As of December 31, 2016, $91,000. December 31, 2017, not |
Note 6 - Long-term Debt
Note 6 - Long-term Debt | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | Note 6 – Long-Term Debt Long-term debt consists of the following at years December 31, 2017 2016 December 31, December 31, 2017 2016 Subordinated Promissory Note, net of discount of approximately $163,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 $ 1,337 $ - Subordinated Promissory Note, net of discount of approximately $108,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 892 - Real Estate Loan for our facility in North Dakota, interest at 3.75%, monthly principal and interest payment of $5,255 ending October 3, 2028. Collateralized by land and property purchased with the loan. 309 355 Note payable to the seller of Heat Waves. The note was garnished by the Internal Revenue Service (“ IRS”) in 2009 and is due on demand; paid in annual installments of $36,000 per agreement with the IRS. 125 170 Mortgages payable to banks, interest ranging from 5.9% to 7.25%, due in monthly principal and interest payments of $6,105, secured by land. Remaining principal balances were paid in February 2017. - 97 Total 2,663 622 Less current portion (182 ) (318 ) Long-term debt, net of current portion $ 2,481 $ 304 Aggregate maturities of debt, excluding the 2017 5, follows (in thousands): Years Ended December 31, 2018 $ 182 2019 54 2020 56 2021 59 2022 2,290 Thereafter 22 Total $ 2,663 |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 7 The following tables present the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis by level within the fair value hierarchy (in thousands): Fair Value Measurement Using Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Measurement December 31, 2017 Derivative Instrument Warrant liability $ - $ - $ 831 $ 831 December 31, 2016 Derivative Instrument Interest rate swap $ - $ 91 $ - $ 91 Derivative Instruments The Company's warrant liability was valued as a derivative instrument at issuance and at December 31, 2017 e interest rate of 2.14 %, expected dividend yield of 0 %, a term of 4.49 years, and a volatility of 89.58 %. The valuation policies used are approved by the Chief Financial Officer who reviews and approves the inputs used in the fair value calculations and the changes in fair value measurements from period to period for reasonableness. Fair value measurements are discussed with the Company’s Chief Executive Officer, as deemed appropriate. The Company ’s interest rate swap was valued using models which require a variety of inputs, including contractual terms, market prices, yield curves, credit spreads, and correlations of such inputs. Some of the model inputs used in valuing the derivative instruments trade in liquid markets, and therefore the derivative instrument is classified within Level 2 not Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities are not December 31, 2017 2016, The Company did not 1, 2 3 archy during the years ended December 31, 2017 2016. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 8 – Income Taxes The income tax provision (benefit) from operations consists of the following (in thousands): December 31, 2017 2016 Current Federal $ - $ - State - - Total Current - - Deferred Federal (499 ) (3,577 ) State (62 ) (361 ) Total Deferred (561 ) (3,938 ) Total Income Tax Benefit $ (561 ) $ (3,938 ) Reduction of U.S. federal corporate tax rate On December 22, 2017, Act reduces the corporate tax rate to 21 January 1, 2018. $585,000, for the year ended December 31, 2017. A reconciliation of computed income taxes by applying the statutory federal income tax rate of 21% 34% December 31, 2017 2016 December 31, 2017 2016 Computed income taxes at 21% and 34% for 2017 and 2016, respectively $ (2,533 ) $ (4,229 ) Increase in income taxes resulting from: State and local income taxes, net of federal impact (202 ) (373 ) Change in valuation allowance 1,193 389 Stock-based compensation 408 262 Change in tax rate 585 - Other (12 ) 13 Benefit for income taxes $ (561 ) $ (3,938 ) In assessing the realization of deferred tax assets, management considers whether it is more likely than not not realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes a valuation allowance should be recorded to reduce its net deferred tax assets to zero. We have a requirement of reporting of taxes based on tax positions which meet a more likely than not not Differences between financial and tax reporting which do not December 31, 2017 2016, not The Company has approximately $20.0 2035. The components of deferred income taxes for the years ended December 31, 2017 2016 December 31, 2017 2016 Deferred tax assets Reserves and accruals $ 204 $ 239 Amortization 41 100 Capital losses and other 1 1 Non-qualified stock option expense 164 390 Tax credits - 113 Loss Carryforwards 5,116 5.949 Total deferred tax assets 5,526 6,792 Valuation allowance (1,500 ) (390 ) Net deferred tax assets 4,026 6,402 Deferred tax liabilities Depreciation (4,026 ) (6,871 ) Total deferred tax liabilities (4,026 ) (6,871 ) Net deferred tax assets (liabilities) $ - $ (469 ) The Company uses significant judgment in forming conclusions regarding the recoverability of its deferred tax assets and evaluates all available positive and negative evidence to determine if it is more-likely-than- not not December 31, 2017, $1.5 $0.4 December 31, 2017 2016, It is possible that the relative weight of positive and negative evidence regarding the realization of deferred tax assets may ’s valuation allowance. Such a change could result in a material increase or decrease to income tax expense in the period the assessment was made. The Company classifies penalty and interest expense related to income tax liabilities as an other ex pense. During the year ended December 31, 2017, not December 31, 2017 2016, The Company files tax re turns in the United States, in various states including Colorado, Kansas, North Dakota, Ohio, Pennsylvania, and Texas. The Company’s United States federal income tax filings for tax years 2014 2017 remain open to examination. In general, the Company’s various state tax filings remain open for tax years 2013 2017. |
Note 9 - Stockholders Equity
Note 9 - Stockholders Equity | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 9 – Stockholders Equity Secondary Stock Offering On December 2, 2016, 11,250,000 $0.005 $0.40 30 1,687,500 December 5, 2016, $5.2 $759,000, $4.4 Stock Issued for Services During the year ended December 31, 2017, not December 2016, 3,031 2010 fully vested and unrestricted at the time of issuance. For the years ended December 31, 2016, $2,000 Warrants A summary of warrant activity for the years ended December 31, 2017 2016 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Warrants Shares Price Life (Years) Value Outstanding at January 1, 2016 150,001 $ 0.55 1.9 $ - Issued 30,000 0.70 4.5 - Exercised - - - - Forfeited/Cancelled - - - - Outstan ding at December 31, 2017 180,001 $ 0.57 1.5 $ 2 Issued 1,612,902 0.31 4.5 539 Exercised (112,500 ) 0.55 - - Forfeited/Cancelled (37,500 ) - - Outstanding at December 31, 2017 1,642,903 $ 0.32 4.5 $ 539 Exercisable at December 31, 2017 1,642,903 $ 0.32 4.5 $ 539 In June 2016, ’s existing investor relations firm warrants to acquire 30,000 $0.70 10 no $0.36 one 15,000 December 21, 2016 15,000 June 21, 2017, December 31, 2017, In June 2017, Note 5, two five 1,612,902 $0.31 20 May 11, 2017. $0.19 June 28, 2017. December 31, 2017, During the year ended December 31, 2017, 112,500 26,729 $19,000 |
Note 10 - Stock Options
Note 10 - Stock Options | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 10 – Stock Options Stock Option Plans On July 27, 2010, ’s Board of Directors adopted the 2010 “2010 2010 15% January 1, 2016 2010 5,719,069 38,127,129 one three 5 2010 no 2010 December 31, 2017, 1,467,773 shares outstanding under the 2010 On July 18, 2016, 2016 2016 September 29, 2016. may 2016 8,000,000 2010 2,391,711 10,391,711 December 31, 2017, 3,346,660 shares outstanding under the 2016 A summary of the range of assumptions used to value stock options granted for the years ended December 31, 2017 2016 For the Years Ended December 31, 2017 2016 Expected volatility 89 - 93% 81 - 104% Risk-free interest rate 1.4 – 1.5% 0.57 – 1.02% Dividend yield - - - - - - Expected term (in years) 3.0 – 3.5 1.0 – 3.5 During the year ended December 31, 2017, 2,971,600 $0.19 December 31, 2017, no December 31, 2016, 3,525,000 $0.28 share. During the year ended December 31, 2016, no The following is a summary of stock option activity for all equity plans for the years ended December 31, 2017 2016 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2016 3,485,168 $ 1.31 2.53 $ 63 Granted 3,525,000 0.78 Exercised - - Forfeited or Expired (2,799,000 ) 0.96 Outstanding at December 31, 2016 4,211,168 $ 1.09 2.85 $ 46 Granted 2,971,600 0.32 Exercised - - Forfeited or Expired (2,368,334 ) 0.90 Outstanding at December 31, 2017 4,814,434 $ 0.71 3.46 $ 1,007 Vested or Expected to Vest at December 31, 2017 2,282,834 $ 1.02 2.77 $ 317 Exercisable at December 31, 2017 2,282,834 $ 1.02 2.77 $ 317 The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the estimated fair value of the Company ’s common stock and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they exercised their options on December 31, 2017. As discussed below in the Forfeiture and Grant of Stock Options paragraph, on July 18, 2016, purchase 2,560,000 2010 1,960,000 2016 September 29, 2016. not During the years ended December 31, 2017 2016, nized stock-based compensation costs for stock options of approximately $ 704,000 and $662,000, December 31, 2017, A summary of the status of non-vested shares underlying the options are presented below: Number of Shares Weighted- Average Grant- Date Fair Value Non-vested at January 1, 2016 1,323,669 $ 1.22 Granted 3,525,000 0.28 Vested (1,934,835 ) 0.49 Forfeited (1,254,000 ) 0.56 Non-vested at December 31, 2016 1,659,834 $ 0.58 Granted 2,971,600 0.19 Vested (2,003,167 ) 0.43 Forfeited (96,668 ) 0.55 Non-vested at December 31, 2017 2,531,599 $ 0.24 As of December 31, 2017, $554,00 compensation costs related to non-vested shares under the qualified stock option plans which will be recognized over the remaining weighted-average period of 1.42 years. Forfeiture and Grant of Stock Options On June 17, 2016, appointed a special committee of disinterested directors (the “Special Committee”) to address certain claims in a letter dated June 14, 2016 2010 “2010 2010 2010 On July 7, 2016, 2,560,000 ny’s common stock that had been granted to various officers and directors in excess of the 2010 1,960,000 2016 2016 On July 18, 2016, he adoption of the 2016 2010 not 2016 September 29, 2016. July 7, 2016, two six 2016 September 29, 2016, 2016 not not In November 2016, ial Committee reached a settlement with the attorney and stockholder that sent the initial demand letter and agreed to pay an immaterial amount in settlement of the matter above. |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 11 – Commitments and Contingencies Operating Leases As of December 31, 2017, August 2022 . All of these facility leases are accounted for as operating leases. Future minimum lease commitments for these facilities and other operating leases are as follows (in thousands): Year Ended December 31, 2018 $ 654 2019 633 2020 574 2021 377 2022 181 Thereafter - Total $ 2,419 Rent expense under operating leases for the years ended December 31, 2017 2016 $808,000 $789,000, HydroFLOW Agreement Pursuant to a Sales Agreement with HydroFLOW USA, HWWM has the exclusive right to sell or rent patented hydropath devices in connection with bacteria deactivation and scale treatment services for treating injection and disposal wells, fracking water and recycled water in the oil and gas industry to HWWM customers in the United States. Pursuant to the sales agreement, HWWM is required to pay 3.5% $655,000 2016 2025. November 2016, $220,000 2016 2017, 2017 $875,000. December 31, 2017, $280,000 2016 December 31, 2017 2016, not 2016 2017 2017. January 9, 2018, Self-Insurance In June 2015, Employee Group Medical Plan for the first $50,000 per individual participant. The Company has accrued a liability of approximately $ 102,000 and $23,000 December 31, 2017 2016, December 31, 2017 2016. Effective April 1, 2015, ’ compensation and employer’s liability insurance policy with a term through March 31, 2018. $1.5 June 2017, one December 30, 2017, $612,000 under the terms of the policy. The amount was based on an estimate of the total cost of the claim, including costs that, as of December 31, 2017, not December 31, 2017, $438 ,000 in payments made under the plan as a long-term asset, which we expect will either be recorded as expense or refunded to us by our insurance carrier, depending on the outcome of the claim described above and any additional claims incurred under the policy. Per the terms of our policy, through December 31, 2017, $1.6 $1.6 illion. As of December 31, 2017, $161,000. Litigation Enservco Corporation (“ Enservco”) and its subsidiary Heat Waves Hot Oil Service LLC (“Heat Waves”) are defendants in a civil lawsuit in federal court in Colorado, Civil Action No. 1:15 00983 two ‘993 In the event that HOTF ’s appeal is successful and the ‘993 may may not |
Note 12 - Segment Reporting
Note 12 - Segment Reporting | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 12 Enservco ’s reportable business segments are Well Enhancement Services, Water Transfer Services, Water Hauling Services, and Construction Services. These segments have been selected based on management’s resource allocation and performance assessment in making decisions regarding the Company. The following is a description of the segments. Well Enhancement Services : This segment utilizes a fleet of frac water heating units, hot oil trucks and acidizing units to provide well enhancement and completion services to the domestic oil and gas industry. These services include frac water heating, hot oil services, pressure testing, and acidizing services. Water Transfer Services : This segment utilizes a high and low volume pumps, lay flat hose, aluminum pipe and manifolds and related equipment to move fresh and/or recycled water from a water source such as a pond, lake, river, stream, or water storage facility to frac tanks at drilling locations to be used in connection with well completion activities. Also included in this segment are water treatment services whereby the Company uses patented hydropath technology under a sales agreement with HydroFLOW USA to remove bacteria and scale from water. Water Hauling Services : This segment utilizes a fleet of trucks and related assets, including specialized tank trucks, vacuum trailers, storage tanks, and disposal facilities to provide various water hauling services. These services are primarily provided by Dillco in the Hugoton Field. Construction Services : This segment utilizes a fleet of trucks and equipment to provide excavation grading, and dirt hauling services to the oil and gas and construction industry. In 2016, Unallocated and other includes general overhead expenses and assets associated with managing all reportable operating segments which have not The following table sets forth certain financial information with respect to Enservco ’s reportable segments (in thousands): Well Enhancement Water Transfer Services Water Hauling Construction Services Unallocated & Other Total Year Ended December 31, 2017: Revenues $ 34,686 $ 2,128 $ 3,684 $ 254 $ - $ 40,752 Cost of Revenue 25,902 2,666 3,979 212 845 33,604 Segment Profit $ 8,784 $ (538 ) $ (295 ) $ 42 $ (845 ) $ 7,148 Depreciatio n and Amortization $ 4,817 $ 985 $ 655 $ - $ 31 $ 6,488 Capital Exp enditures $ 1,184 $ 487 $ 89 $ - $ 6 $ 1,766 Identifiable assets(1) $ 37,651 $ 2,986 $ 1,730 $ - $ 511 $ 42,878 Year Ended December 31, 2016: Revenues $ 17,864 $ 184 $ 3,838 $ 2,713 $ 9 $ 24,608 Cost of Revenue 15,654 1,629 3,797 2,992 749 24,821 Segment Profit $ 2,210 $ (1,445 ) $ 41 $ (279 ) $ (740 ) $ (213 ) Depreciatio n and Amortization $ 4,932 $ 1,146 $ 669 $ - $ 118 $ 6,865 Capital Exp enditures (Excluding Acquisitions) $ 759 $ 196 $ 46 $ - $ 16 $ 1,017 Identifiable assets(1) $ 33,827 $ 3,516 $ 2,048 $ 600 $ 305 $ 40,296 ( 1 Identifiable assets is calculated by summing the balances of accounts receivable, net; inventories; property and equipment, net; and other assets. The following table reconcile s the segment profits reported above to the loss from operations reported in the consolidated statements of operations (in thousands): December 31, December 31, 2017 2016 Segment profit (loss) $ 7,148 $ (213 ) General and administrative expense (5,243 ) (3,780 ) Patent litigation defense costs (129 ) (151 ) Depreciation and amortization (6,488 ) (6,865 ) Loss from Operations $ (4,712 ) $ (11,009 ) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three ess to be cash equivalents. The Company continually monitors its positions with, and the credit quality of, the financial institutions with which it invests. Enservco maintains its excess cash in various financial institutions, where deposits may |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts Receivable Accounts receivable are stated at the amounts billed to customers, net of an allowance fo r uncollectible accounts. The Company provides an allowance for uncollectable accounts based on a review of outstanding receivables, historical collection information and existing economic conditions. The allowance for uncollectible amounts is continually reviewed and adjusted to maintain the allowance at a level considered adequate to cover future losses. The allowance is management's best estimate of uncollectible amounts and is determined based on historical collection experience related to accounts receivable coupled with a review of the current status of existing receivables. The losses ultimately incurred could differ materially in the near term from the amounts estimated in determining the allowance. As of December 31, 2017, December 31, 2016, 70,000 $34,000, December 31, 2017 2016, 37,000 and $157,000, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations As of December 31, 2017, one 10% 13%. 8% December 31, 2017. one 10% 13% December 31, 2017. December 31, 2016, three 10% 14%, 14% 11%, three 14%, 11% 12% December 31, 2016. |
Inventory, Policy [Policy Text Block] | Inventories Inventory consists primarily of propane, diesel fuel and chemicals that are used in the servicing of oil wells and is carried at the lower of cost or net realisable value in accordance with the first first December 31, 2017 2016, not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment consists of ( 1 2 3 sed for the disposal of water; and ( 4 5 30 Any difference between net book value of the property and equipment and the proceeds of an assets ’ sale or settlement of an insurance claim is recorded as a gain or loss in the Company’s earnings. |
Lessee, Leases [Policy Text Block] | Leases The Company conducts a m ajor part of its operations from leased facilities. Each of these leases is accounted for as operating leases. Normally, the Company records rental expense on its operating leases over the lease term as it becomes payable. If rental payments are not June 2022. December 31, 2017, 2016, $96,000 and $92,000, The Company amortizes leasehold improvements over the shorter of the life of the lease or the life of the improvements. During the years ended December 31, 2017 2016, f approximately $ 39,000 and $26,000. The Company has leased trucks and equipment in the normal course of business, which were recorded as an operating lease. The Company recorded rental expense on equipment under operating leases over the lease term as it becomes payab le; there were no no December 31, 2017 2016. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not not No December 31, 2017 2016. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company recognizes revenue when evidence of an arrangement exists, the fee is fixed or determinable, services are provided, and collection is reasonably assured. |
Earnings Per Share, Policy [Policy Text Block] | Earning s (Loss) Per Share Earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings per share is calculated by dividing net income (loss) by the diluted weigh ted average number of common shares. The diluted weighted average number of common shares is computed using the treasury stock method for common stock that may As of December 31, 2017, 2016, were outstanding stock options and warrants to acquire an aggregate of 6,457,335 and 4,391,169 December 31, 2017 2016, $5.5 and $8.5 December 31, 2017, $1.5 not not December 31, 2017 201 6. |
Loan Fees and Other Deferred Costs [Policy Text Block] | Loan Fees and Other Deferred Costs In the normal course of business, the Company enters into loan agreements and amendments thereto with its primary lending institutions. The majority of these lending agreements and amendments require origination fees and other fees in the course of execut ing the agreements. For all costs associated with the execution of the lending agreements, the Company recognizes these as capitalized costs and amortizes these costs over the term of the loan agreement. All other costs not December 31, 2017, $232,000 in unamortized loan fees and other deferred costs associated with the 2017 three |
Derivatives, Policy [Policy Text Block] | Der ivative Instruments The Company had fair value swap agreements in place to hedge against changes in interest rates. The fair value of the Company ’s derivative instruments is reflected as assets or liabilities on the balance sheets. The accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the resulting designation. Transactions related to the Company’s derivative instruments accounted for as hedges are classified in the same category as the item hedged in the consolidated statement of cash flows. The Company did not December 31, 2017 2016, In connection with the termination of the 2014 August 10, 2017, The Company had designated its interest rate swap agreement with P NC as a cash flow hedge. As such, changes in the fair value of the interest rate swap agreement were recorded in earnings. The Company was not December 31, 2017. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company recognizes deferred tax liabilities and assets (Note 8 ) based on the differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements that will result in taxable or deductible amounts in future years. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities will be recognized in income in the period that includes the enactment date. Deferred income taxes are classified as a net current or non-current asset or liability based on the classification of the related asset or liability for financial reporting purposes. A deferred tax asset or liability that is not not The Company accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if it is more likely than not taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized in the financial statements from such a position based on the largest benefit that has a greater than 50% may not Interest and penalties associated with tax positions are recorded in the peri od assessed as income tax expense. The Company files income tax returns in the United States and in the states in which it conducts its business operations. The Company’s United States federal income tax filings for tax years 2013 2017 2013 2017. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value The Company follows authoritative guidance that applies to all financial assets and liabilities required to be measured and reported on a fair value basis. The Company also applies the guidance to non-financial assets and liabilities measured at fair value on a nonrecurring basis, including non-competition agreements and goodwill. The guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions of what market participants would use in pricing the asset or liability based on the best information available in the circumstances. The Company did not December 31, 2017. The hierarchy is broken down into three Level 1: Quoted prices are available in active markets for identical assets or liabilities; Level 2: Quoted prices in active markets for similar assets and liabilities that are observable for the asset or liability; or Level 3: Unobservable pricing inputs that are generally less observable from objective sources, such as discounted cash flow models or valuations. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-based Compensation Stock-based compensation cost is measured at the date of grant, based on the calculated fair value of the award as described below, and is recognized over the requisite service period, which is generally the vesting period of the equity grant. The Company uses the Black-Scholes pricing model as a method for determining the estimated grant date fair value for all stock options awarded to employees, independent contractors, officers, and directors. The expected term of the options is based upon evaluation of historical and expected exercise behavior. The risk-free interest rate is based upon U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life of the grant. Volatility is determined upon historical volatility of our stock and adjusted if future volatility is expected to vary from historical experience. The dividend yield is assumed to be none not The Company uses a Binomial Lattice ("Lattice") model to determine the fair value of certain warrants. The expected term used was the remaining contractual term. Expected volatility is based upon historical volatility over a term consistent with the remaining term. The risk-free interest rate is derived from the yield on zero none. |
Use of Estimates, Policy [Policy Text Block] | Management Estimates The preparation of the Company ’s 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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the realization of accounts receivable, evaluation of impairment of long-lived assets, stock-based compensation expense, income tax provision, the valuation of deferred taxes, and the valuation of warrants and the Company’s interest rate swap. Actual results could differ from those estimates. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain prior-period amounts have been reclassified for comparative purposes to conform to the fiscal 2017 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Pronouncements Recently Issued In May 2014, 2014 09 July 2015, one 2015 14 December 15, 2017. not December 15, 2016. 1 2016 08 2 2016 10 3 605 2016 11 4 2016 12 December 31, 2017 not In February 2016, 2016 02 Leases (Topic 842 12 December 15, 2018, one In August 2016, 2016 15, “Statement of Cash Flows (Topic 230 2016 15 one December 15, 2017 2016 15 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Current Ownership Hierarchy [Table Text Block] | Name State of Formation Ownership Business Dillco Fluid Service, Inc. Ka nsas 100% by Enservco Oil and natural gas field fluid logistic services. Heat Waves Hot Oil Service LLC Colorado 100% by Enservco Oil and natural gas well services, including logistics and stimulation. Heat Waves Water Management LLC Colorado 100% by Enservco Water Transfer and Water Treatment Services. HE Services LLC (“ HES”) Nevada 100% by Heat Waves No active business operations. Owns construction equipment used by Heat Waves. Real GC, LLC (“ Real GC”) Colorado 100% by Heat Waves No active business operations. Owns real property in Garden City, Kansas that is utilized by Heat Waves. |
Note 4 - Property and Equipme21
Note 4 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, December 31, 2017 2016 Trucks and vehicles $ 54,925 $ 54,267 Water transfer equipment 4,688 4,520 Other equipment 3,160 2,898 Buildings and improvements 3,551 3,984 Land 681 785 Disposal wells 391 391 Total property and equipment 67,396 66,845 Accumulated depreciation (37,979 ) (32,227 ) Property and equipment – net $ 29,417 $ 34,618 |
Note 6 - Long-term Debt (Tables
Note 6 - Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | December 31, December 31, 2017 2016 Subordinated Promissory Note, net of discount of approximately $163,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 $ 1,337 $ - Subordinated Promissory Note, net of discount of approximately $108,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 892 - Real Estate Loan for our facility in North Dakota, interest at 3.75%, monthly principal and interest payment of $5,255 ending October 3, 2028. Collateralized by land and property purchased with the loan. 309 355 Note payable to the seller of Heat Waves. The note was garnished by the Internal Revenue Service (“ IRS”) in 2009 and is due on demand; paid in annual installments of $36,000 per agreement with the IRS. 125 170 Mortgages payable to banks, interest ranging from 5.9% to 7.25%, due in monthly principal and interest payments of $6,105, secured by land. Remaining principal balances were paid in February 2017. - 97 Total 2,663 622 Less current portion (182 ) (318 ) Long-term debt, net of current portion $ 2,481 $ 304 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Years Ended December 31, 2018 $ 182 2019 54 2020 56 2021 59 2022 2,290 Thereafter 22 Total $ 2,663 |
Note 7 - Fair Value Measureme23
Note 7 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurement Using Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Measurement December 31, 2017 Derivative Instrument Warrant liability $ - $ - $ 831 $ 831 December 31, 2016 Derivative Instrument Interest rate swap $ - $ 91 $ - $ 91 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | December 31, 2017 2016 Current Federal $ - $ - State - - Total Current - - Deferred Federal (499 ) (3,577 ) State (62 ) (361 ) Total Deferred (561 ) (3,938 ) Total Income Tax Benefit $ (561 ) $ (3,938 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | December 31, 2017 2016 Computed income taxes at 21% and 34% for 2017 and 2016, respectively $ (2,533 ) $ (4,229 ) Increase in income taxes resulting from: State and local income taxes, net of federal impact (202 ) (373 ) Change in valuation allowance 1,193 389 Stock-based compensation 408 262 Change in tax rate 585 - Other (12 ) 13 Benefit for income taxes $ (561 ) $ (3,938 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2017 2016 Deferred tax assets Reserves and accruals $ 204 $ 239 Amortization 41 100 Capital losses and other 1 1 Non-qualified stock option expense 164 390 Tax credits - 113 Loss Carryforwards 5,116 5.949 Total deferred tax assets 5,526 6,792 Valuation allowance (1,500 ) (390 ) Net deferred tax assets 4,026 6,402 Deferred tax liabilities Depreciation (4,026 ) (6,871 ) Total deferred tax liabilities (4,026 ) (6,871 ) Net deferred tax assets (liabilities) $ - $ (469 ) |
Note 9 - Stockholders Equity (T
Note 9 - Stockholders Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Warrants Shares Price Life (Years) Value Outstanding at January 1, 2016 150,001 $ 0.55 1.9 $ - Issued 30,000 0.70 4.5 - Exercised - - - - Forfeited/Cancelled - - - - Outstan ding at December 31, 2017 180,001 $ 0.57 1.5 $ 2 Issued 1,612,902 0.31 4.5 539 Exercised (112,500 ) 0.55 - - Forfeited/Cancelled (37,500 ) - - Outstanding at December 31, 2017 1,642,903 $ 0.32 4.5 $ 539 Exercisable at December 31, 2017 1,642,903 $ 0.32 4.5 $ 539 |
Note 10 - Stock Options (Tables
Note 10 - Stock Options (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | For the Years Ended December 31, 2017 2016 Expected volatility 89 - 93% 81 - 104% Risk-free interest rate 1.4 – 1.5% 0.57 – 1.02% Dividend yield - - - - - - Expected term (in years) 3.0 – 3.5 1.0 – 3.5 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2016 3,485,168 $ 1.31 2.53 $ 63 Granted 3,525,000 0.78 Exercised - - Forfeited or Expired (2,799,000 ) 0.96 Outstanding at December 31, 2016 4,211,168 $ 1.09 2.85 $ 46 Granted 2,971,600 0.32 Exercised - - Forfeited or Expired (2,368,334 ) 0.90 Outstanding at December 31, 2017 4,814,434 $ 0.71 3.46 $ 1,007 Vested or Expected to Vest at December 31, 2017 2,282,834 $ 1.02 2.77 $ 317 Exercisable at December 31, 2017 2,282,834 $ 1.02 2.77 $ 317 |
Schedule of Nonvested Share Activity [Table Text Block] | Number of Shares Weighted- Average Grant- Date Fair Value Non-vested at January 1, 2016 1,323,669 $ 1.22 Granted 3,525,000 0.28 Vested (1,934,835 ) 0.49 Forfeited (1,254,000 ) 0.56 Non-vested at December 31, 2016 1,659,834 $ 0.58 Granted 2,971,600 0.19 Vested (2,003,167 ) 0.43 Forfeited (96,668 ) 0.55 Non-vested at December 31, 2017 2,531,599 $ 0.24 |
Note 11 - Commitments and Con27
Note 11 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ended December 31, 2018 $ 654 2019 633 2020 574 2021 377 2022 181 Thereafter - Total $ 2,419 |
Note 12 - Segment Reporting (Ta
Note 12 - Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Well Enhancement Water Transfer Services Water Hauling Construction Services Unallocated & Other Total Year Ended December 31, 2017: Revenues $ 34,686 $ 2,128 $ 3,684 $ 254 $ - $ 40,752 Cost of Revenue 25,902 2,666 3,979 212 845 33,604 Segment Profit $ 8,784 $ (538 ) $ (295 ) $ 42 $ (845 ) $ 7,148 Depreciatio n and Amortization $ 4,817 $ 985 $ 655 $ - $ 31 $ 6,488 Capital Exp enditures $ 1,184 $ 487 $ 89 $ - $ 6 $ 1,766 Identifiable assets(1) $ 37,651 $ 2,986 $ 1,730 $ - $ 511 $ 42,878 Year Ended December 31, 2016: Revenues $ 17,864 $ 184 $ 3,838 $ 2,713 $ 9 $ 24,608 Cost of Revenue 15,654 1,629 3,797 2,992 749 24,821 Segment Profit $ 2,210 $ (1,445 ) $ 41 $ (279 ) $ (740 ) $ (213 ) Depreciatio n and Amortization $ 4,932 $ 1,146 $ 669 $ - $ 118 $ 6,865 Capital Exp enditures (Excluding Acquisitions) $ 759 $ 196 $ 46 $ - $ 16 $ 1,017 Identifiable assets(1) $ 33,827 $ 3,516 $ 2,048 $ 600 $ 305 $ 40,296 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | December 31, December 31, 2017 2016 Segment profit (loss) $ 7,148 $ (213 ) General and administrative expense (5,243 ) (3,780 ) Patent litigation defense costs (129 ) (151 ) Depreciation and amortization (6,488 ) (6,865 ) Loss from Operations $ (4,712 ) $ (11,009 ) |
Note 1 - Basis of Presentatio29
Note 1 - Basis of Presentation (Details Textual) $ in Millions | Jan. 02, 2016USD ($) |
Water Management Assets of HII Technologies and Wet Oilfield Services, LLC [Member] | HWWM [Member] | |
Payments to Acquire Productive Assets | $ 4.3 |
Note 1 - Basis of Presentatio30
Note 1 - Basis of Presentation - Current Ownership Hierarchy (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Dillco Fluid Service, Inc. at Kansas [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
Heat Waves Hot Oil Service LLC at Colorado [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
Heat Waves Water Management LLC at Colorado [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
HE Services LLC at Nevada [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
Real GC, LLC at Colorado [Member] | |
Subsidiary or Equity Method Investee | 100.00% |
Note 2 - Liquidity and Manage31
Note 2 - Liquidity and Managements' Plans (Details Textual) | Nov. 20, 2017USD ($) | Aug. 10, 2017USD ($) | Mar. 31, 2017USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Mar. 28, 2017USD ($) |
Long-term Debt | $ 2,663,000 | $ 622,000 | |||||
Available Liquidity | 2,400,000 | 5,200,000 | |||||
Cash | 391,000 | 621,000 | |||||
Amendment Fee | $ 20,000 | ||||||
Net Cash Provided by (Used in) Operating Activities | (3,989,000) | (1,997,000) | |||||
The 2017 Credit Agreement [Member] | Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | 2,100,000 | ||||||
The 2014 Credit Agreement [Member] | Revolving Credit Facility [Member] | |||||||
Debt Instrument, Term | 5 years | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000,000 | ||||||
Long-term Debt | $ 21,500,000 | 23,200,000 | $ 25,700,000 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 4,500,000 | ||||||
Debt Instrument, Required Funds to be Raised | $ 1,500,000 | ||||||
Debt Instrument, Letters of Credit Issued | 1,500,000 | ||||||
The 2014 Credit Agreement [Member] | Revolving Credit Facility [Member] | Subordinated Debt [Member] | |||||||
Debt Instrument, Required Additional Funds to be Raised | $ 1,000,000 | ||||||
East West Bank [Member] | The 2017 Credit Agreement [Member] | Revolving Credit Facility [Member] | |||||||
Debt Instrument, Term | 3 years | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000,000 | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 4,600,000 | $ 2,100,000 | |||||
Line of Credit Facility, Covenant Compliance, Minimum Fixed Charge Coverage Ratio | 1.1 | 1.1 | |||||
Line of Credit Facility, Covenant Compliance, Fixed Charge Coverage Ratio at Period End | 0.62 | ||||||
Amendment Fee | $ 20,000 |
Note 3 - Summary of Significa32
Note 3 - Summary of Significant Accounting Policies (Details Textual) | Aug. 10, 2017 | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares |
Allowance for Doubtful Accounts Receivable, Current | $ 70,000 | $ 34,000 | |
Provision for Doubtful Accounts | 37,000 | 157,000 | |
Inventory Write-down | 0 | 0 | |
Deferred Rent Credit | 96,000 | 92,000 | |
Asset Impairment Charges | $ 0 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Outstanding, Number | shares | 6,457,335 | 4,391,169 | |
Net Income (Loss) Attributable to Parent | $ (6,893,000) | $ (8,551,000) | |
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Outstanding, Aggregate Intrinsic Value | $ 1,500,000 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 0 | 0 | |
Payments of Dividends | $ 0 | ||
Earliest Tax Year [Member] | Domestic Tax Authority [Member] | |||
Open Tax Year | 2,013 | ||
Earliest Tax Year [Member] | State and Local Jurisdiction [Member] | |||
Open Tax Year | 2,013 | ||
Latest Tax Year [Member] | Domestic Tax Authority [Member] | |||
Open Tax Year | 2,017 | ||
Latest Tax Year [Member] | State and Local Jurisdiction [Member] | |||
Open Tax Year | 2,017 | ||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | |||
Unamortized Debt Issuance Expense | $ 232,000 | ||
Line of Credit Facility, Expiration Period | 3 years | ||
Leasehold Improvements [Member] | |||
Amortization | $ 39,000 | $ 26,000 | |
Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 30 years | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
Number of Major Customers | 1 | 3 | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member] | |||
Concentration Risk, Percentage | 11.00% | 14.00% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member] | |||
Concentration Risk, Percentage | 14.00% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer C [Member] | |||
Concentration Risk, Percentage | 11.00% | ||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | |||
Number of Major Customers | 1 | ||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Customer A [Member] | |||
Concentration Risk, Percentage | 8.00% | 14.00% | |
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Customer B [Member] | |||
Concentration Risk, Percentage | 13.00% | 11.00% | |
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Customer C [Member] | |||
Concentration Risk, Percentage | 12.00% |
Note 4 - Property and Equipme33
Note 4 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property and equipment, gross | $ 67,396 | $ 66,845 |
Accumulated depreciation | (37,979) | (32,227) |
Property and equipment, net | 29,417 | 34,618 |
Vehicles [Member] | ||
Property and equipment, gross | 54,925 | 54,267 |
Water Transfer Equipment [Member] | ||
Property and equipment, gross | 4,688 | 4,520 |
Property, Plant and Equipment, Other Types [Member] | ||
Property and equipment, gross | 3,160 | 2,898 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | 3,551 | 3,984 |
Land [Member] | ||
Property and equipment, gross | 681 | 785 |
Disposal Wells [Member] | ||
Property and equipment, gross | $ 391 | $ 391 |
Note 5 - Revolving Credit Fac34
Note 5 - Revolving Credit Facilities (Details Textual) | Nov. 20, 2017USD ($) | Aug. 10, 2017USD ($) | Sep. 17, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Aug. 09, 2017USD ($) | Mar. 28, 2017USD ($) |
Line of Credit, Current | $ 27,066,000 | $ 23,181,000 | ||||||||
Line of Credit Assumed | 1,124,000 | 1,543,000 | ||||||||
Line of Credit Facility, Covenant Compliance, Liquidity at Period End | 2,400,000 | |||||||||
Amendment Fee | $ 20,000 | |||||||||
Long-term Debt | 2,663,000 | 622,000 | ||||||||
Amortization of Debt Issuance Costs | 448,000 | 153,000 | ||||||||
Fair Value Hedging [Member] | Interest Rate Swap [Member] | ||||||||||
Derivative, Notional Amount | $ 10,000,000 | |||||||||
Derivative, Swaption Interest Rate | 1.88% | |||||||||
Derivative Liability | $ 90,000 | 0 | $ 91,000 | $ 72,000 | ||||||
Unrealized Gain (Loss) on Derivatives | $ (18,000) | |||||||||
Fair Value Inputs, Discount Rate | 13.40% | |||||||||
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Interest Expense [Member] | ||||||||||
Unrealized Gain (Loss) on Derivatives | $ 72,000 | |||||||||
Prepaid Expenses and Other Current Assets [Member] | ||||||||||
Unamortized Debt Issuance Expense | 171,000 | |||||||||
Other Assets [Member] | ||||||||||
Unamortized Debt Issuance Expense | 232,000 | $ 259,000 | ||||||||
The 2017 Credit Agreement [Member] | Revolving Credit Facility [Member] | ||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 2,100,000 | |||||||||
The 2017 Credit Agreement [Member] | Revolving Credit Facility [Member] | Prime Rate [Member] | ||||||||||
Line of Credit, Current | $ 2,600,000 | |||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.25% | |||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | ||||||||||
Debt Instrument, Term | 3 years | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000,000 | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity, Percent of Eligible Receivables | 85.00% | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity, Percentage of Trucks and Equipment | 85.00% | |||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | |||||||||
Line of Credit, Current | $ 27,100,000 | |||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 4,600,000 | $ 2,100,000 | ||||||||
Line of Credit Facility, Covenant Compliance, Minimum Fixed Charge Coverage Ratio | 1.1 | 1.1 | ||||||||
Line of Credit Facility, Covenant Compliance, Trailing Twelve Month Fixed Charge Coverage Ratio | 1.2 | |||||||||
Line of Credit Facility, Covenant Compliance, Minimum Liquidity | $ 1,500,000 | |||||||||
Line of Credit Assumed | $ 21,800,000 | |||||||||
Amendment Fee | $ 20,000 | |||||||||
Unamortized Debt Issuance Expense | $ 232,000 | |||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 3.50% | |||||||||
The 2017 Credit Agreement [Member] | East West Bank [Member] | Revolving Credit Facility [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||||||||
The 2017 Credit Agreement Period 1 [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 5.06% | |||||||||
Line of Credit, Current | $ 24,500,000 | |||||||||
The 2017 Credit Agreement Period 2 [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 4.88% | |||||||||
The 2014 Credit Agreement [Member] | ||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.375% | |||||||||
The 2014 Credit Agreement [Member] | Domestic Rate Loans [Member] | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.75% | |||||||||
Long-term Debt | $ 1,900,000 | |||||||||
The 2014 Credit Agreement [Member] | LIBOR Based Loans [Member] | ||||||||||
Long-term Debt | $ 21,300,000 | |||||||||
The 2014 Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 4.50% | 4.50% | 5.21% | |||||||
The 2014 Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 5.50% | 5.50% | 5.27% | |||||||
The 2014 Credit Agreement [Member] | Base Rate [Member] | Minimum [Member] | Domestic Rate Loans [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 4.50% | 3.00% | ||||||||
The 2014 Credit Agreement [Member] | Base Rate [Member] | Maximum [Member] | Domestic Rate Loans [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 5.50% | 4.00% | ||||||||
The 2014 Credit Agreement [Member] | Revolving Credit Facility [Member] | ||||||||||
Debt Instrument, Term | 5 years | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000,000 | $ 30,000,000 | ||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 4,500,000 | |||||||||
Line of Credit Facility Limitation on Borrowings Percentage of Eligible Receivables | 85.00% | 85.00% | ||||||||
Line of Credit Facility Limitation on Borrowings Percentage of Appraised Value of Trucks and Equipment | 75.00% | 75.00% | ||||||||
Long-term Debt | $ 21,500,000 | $ 23,200,000 | $ 25,700,000 | |||||||
Two Thousand Twelve Credit Agreement [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 16,000,000 | $ 16,000,000 |
Note 6 - Long-term Debt - Summa
Note 6 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Subordinated Promissory Note, net of discount of approximately $163,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 | $ 2,663 | $ 622 |
Less current portion | (182) | (318) |
Long-term debt, net of current portion | 2,481 | 304 |
Subordinated Debt [Member] | Subordinated Promissory Note, Net of $163,000 Discount [Member] | ||
Subordinated Promissory Note, net of discount of approximately $163,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 | 1,337 | |
Subordinated Debt [Member] | Subordinated Promissory Note, Net of $108,000 Discount [Member] | ||
Subordinated Promissory Note, net of discount of approximately $163,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 | 892 | |
Real Estate Loan 1 [Member] | ||
Subordinated Promissory Note, net of discount of approximately $163,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 | 309 | 355 |
Note Payable To Seller Of Heat Waves [Member] | ||
Subordinated Promissory Note, net of discount of approximately $163,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 | 125 | 170 |
Mortgage Payable Through February 2017 [Member] | ||
Subordinated Promissory Note, net of discount of approximately $163,000. Interest is at 10%, interest is paid quarterly. Matures June 28, 2022 | $ 97 |
Note 6 - Long-term Debt - Sum36
Note 6 - Long-term Debt - Summary of Long-term Debt (Details) (Parentheticals) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Real Estate Loan 1 [Member] | ||
Interest rate | 3.75% | 3.75% |
Monthly principal and interest payment | $ 5,255,000 | $ 5,255,000 |
Note Payable To Seller Of Heat Waves [Member] | ||
Monthly principal and interest payment | 36,000,000 | 36,000,000 |
Mortgage Payable Through February 2017 [Member] | ||
Monthly principal and interest payment | $ 6,105,000 | $ 6,105,000 |
Mortgage Payable Through February 2017 [Member] | Minimum [Member] | ||
Interest rate | 5.90% | 5.90% |
Mortgage Payable Through February 2017 [Member] | Maximum [Member] | ||
Interest rate | 7.25% | 7.25% |
Subordinated Promissory Note, Net of $163,000 Discount [Member] | Subordinated Debt [Member] | ||
Discount | $ 163,000 | |
Interest rate | 10.00% | |
Subordinated Promissory Note, Net of $108,000 Discount [Member] | Subordinated Debt [Member] | ||
Discount | $ 108,000 | |
Interest rate | 10.00% |
Note 6 - Long-term Debt - Sum37
Note 6 - Long-term Debt - Summary of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
2,018 | $ 182 | |
2,019 | 54 | |
2,020 | 56 | |
2,021 | 59 | |
2,022 | 2,290 | |
Thereafter | 22 | |
Total | $ 2,663 | $ 622 |
Note 7 - Fair Value Measureme38
Note 7 - Fair Value Measurements (Details Textual) - Warrants [Member] | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Assumptions, Risk Free Interest Rate | 2.14% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Fair Value Assumptions, Expected Term | 4 years 178 days |
Fair Value Assumptions, Expected Volatility Rate | 89.58% |
Note 7 - Fair Value Measureme39
Note 7 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Warrants [Member] | ||
Derivative instrument | $ 831 | |
Interest Rate Swap [Member] | ||
Derivative instrument | $ 91 | |
Fair Value, Inputs, Level 1 [Member] | Warrants [Member] | ||
Derivative instrument | ||
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Derivative instrument | ||
Fair Value, Inputs, Level 2 [Member] | Warrants [Member] | ||
Derivative instrument | ||
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Derivative instrument | 91 | |
Fair Value, Inputs, Level 3 [Member] | Warrants [Member] | ||
Derivative instrument | $ 831 | |
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Derivative instrument |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) | Dec. 22, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Increase (Decrease) of Deferred Tax Assets as a Result of Tax Cuts and Jobs Act | $ (585,000) | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 34.00% | |
Operating Loss Carryforwards | $ 20,000,000 | ||
Deferred Tax Assets, Valuation Allowance | 1,500,000 | $ 390,000 | |
Income Tax Examination, Penalties and Interest Expense | 0 | 0 | |
Unrecognized Tax Benefits | $ 0 | $ 0 |
Note 8 - Income Taxes - Compone
Note 8 - Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Current | ||
Federal | ||
State | ||
Total Current | ||
Deferred | ||
Federal | (499) | (3,577) |
State | (62) | (361) |
Total Deferred | (561) | (3,938) |
Total Income Tax Benefit | $ (561) | $ (3,938) |
Note 8 - Income Taxes - Reconci
Note 8 - Income Taxes - Reconciliation of Computed Income Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Computed income taxes at 21% and 34% for 2017 and 2016, respectively | $ (2,533) | $ (4,229) |
State and local income taxes, net of federal impact | (202) | (373) |
Change in valuation allowance | 1,193 | 389 |
Stock-based compensation | 408 | 262 |
Change in tax rate | 585 | |
Other | (12) | 13 |
Total Income Tax Benefit | $ (561) | $ (3,938) |
Note 8 - Income Taxes - Deferre
Note 8 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets | ||
Reserves and accruals | $ 204,000 | $ 239,000 |
Amortization | 41,000 | 100,000 |
Capital losses and other | 1,000 | 1,000 |
Non-qualified stock option expense | 164,000 | 390,000 |
Tax credits | 113,000 | |
Loss Carryforwards | 5,116,000 | 5,949,000 |
Total deferred tax assets | 5,526,000 | 6,792,000 |
Valuation allowance | (1,500,000) | (390,000) |
Net deferred tax assets | 4,026,000 | 6,402,000 |
Deferred tax liabilities | ||
Depreciation | (4,026,000) | (6,871,000) |
Total deferred tax liabilities | (4,026,000) | (6,871,000) |
Net deferred tax assets (liabilities) | ||
Net deferred tax assets (liabilities) | $ (469,000) |
Note 9 - Stockholders Equity (D
Note 9 - Stockholders Equity (Details Textual) - USD ($) | Jun. 21, 2017 | Dec. 21, 2016 | Dec. 05, 2016 | Dec. 05, 2016 | Dec. 02, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 |
Common Stock, Par or Stated Value Per Share | $ 0.005 | $ 0.005 | |||||||
Proceeds from Issuance of Common Stock | $ 5,175,000 | ||||||||
Stock Issued from Exercise of Warrants | 112,500 | ||||||||
Proceeds from Warrant Exercises | $ 26,729 | ||||||||
Aggregate Intrinsic Value Of Warrants Exercised | $ 19,000 | ||||||||
Cross River Partners, L.P. [Member] | |||||||||
Class of Warrant or Right, Issued During Period | 1,612,902 | ||||||||
Class of Warrant or Right, Issued During Period, Exercise Price | $ 0.31 | ||||||||
Class of Warrant or Right, Grants in Period, Grant-date Fair Value | $ 0.19 | ||||||||
Warrants Expiration Period | 5 years | ||||||||
Warrants Issued in June 2016 [Member] | |||||||||
Class of Warrant or Right, Issued During Period | 30,000 | ||||||||
Class of Warrant or Right, Issued During Period, Exercise Price | $ 0.70 | ||||||||
Class of Warrant or Right, Grants in Period, Grant-date Fair Value | $ 0.36 | ||||||||
Class of Warrants or Rights, Vesting Period | 1 year | ||||||||
Class of Warrants or Rights, Vested During the Period | 15,000 | 15,000 | |||||||
Option Plan 2010 Member | |||||||||
Stock Issued During Period, Shares, Issued for Services | 0 | ||||||||
Option Plan 2010 Member | Consultant [Member] | |||||||||
Stock Issued During Period, Shares, Issued for Services | 3,031 | ||||||||
Allocated Share-based Compensation Expense | $ 2,000 | ||||||||
Secondary Stock Offering [Member] | |||||||||
Stock Issued During Period, Shares, New Issues | 11,250,000 | ||||||||
Common Stock, Par or Stated Value Per Share | $ 0.005 | ||||||||
Shares Issued, Price Per Share | $ 0.40 | ||||||||
Proceeds from Issuance of Common Stock, Gross | $ 5,200,000 | ||||||||
Payments of Stock Issuance Costs | 759,000 | ||||||||
Proceeds from Issuance of Common Stock | $ 4,400,000 | ||||||||
Over-Allotment Option [Member] | |||||||||
Stock Issued During Period, Shares, New Issues | 1,687,500 | ||||||||
Underwriter Option, Term | 30 days |
Note 9 - Stockholders' Equity -
Note 9 - Stockholders' Equity - Summary of Warrant Activity (Details) - Warrant [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding (in shares) | 180,001 | 150,001 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 0.57 | $ 0.55 | |
Outstanding, weighted average remaining contractual life (Year) | 4 years 182 days | 1 year 182 days | 1 year 328 days |
Outstanding, aggregate intrinsic value | $ 539 | $ 2 | |
Issued (in shares) | 1,612,902 | 30,000 | |
Issued, weighted average exercise price (in dollars per share) | $ 0.31 | $ 0.70 | |
Issued, weighted average remaining contractual life (Year) | 4 years 182 days | 4 years 182 days | |
Issued, aggregate intrinsic value | $ 539 | ||
Exercised (in shares) | 112,500 | ||
Exercised, weighted average exercise price (in dollars per share) | $ 0.55 | ||
Forfeited/Cancelled (in shares) | 37,500 | ||
Forfeited/Cancelled, weighted average exercise price (in dollars per share) | |||
Exercised (in shares) | (112,500) | ||
Forfeited/Cancelled (in shares) | (37,500) | ||
Outstanding (in shares) | 1,642,903 | 180,001 | 150,001 |
Outstanding, weighted average exercise price (in dollars per share) | $ 0.32 | $ 0.57 | $ 0.55 |
Exercisable (in shares) | 1,642,903 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 0.32 | ||
Exercisable, weighted average remaining contractual life (Year) | 4 years 182 days | ||
Exercisable, aggregate intrinsic value | $ 539 |
Note 10 - Stock Options (Detail
Note 10 - Stock Options (Details Textual) - USD ($) | Jul. 18, 2016 | Jan. 02, 2016 | Jul. 27, 2010 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 4,814,434 | 4,211,168 | 3,485,168 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,971,600 | 3,525,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.19 | $ 0.28 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 2,368,334 | 2,799,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 55,400 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 153 days | |||||
General and Administrative Expense [Member] | ||||||
Allocated Share-based Compensation Expense | $ 704,000 | $ 662,000 | ||||
Option Plan 2010 Member | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 15.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 5,719,069 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 38,127,129 | 1,467,773 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,391,711 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,960,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 2,560,000 | |||||
Option Plan 2010 Member | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||||
Option Plan 2010 Member | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
The 2016 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 10,391,711 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,346,660 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 8,000,000 |
Note 10 - Stock Options - Summa
Note 10 - Stock Options - Summary of Stock Valuation Assumptions (Details) - Employee Stock Option [Member] | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Dividend yield | ||
Minimum [Member] | ||
Expected volatility | 89.00% | 81.00% |
Risk-free interest rate | 1.40% | 0.57% |
Expected term (Year) | 3 years | 1 year |
Maximum [Member] | ||
Expected volatility | 93.00% | 104.00% |
Risk-free interest rate | 1.50% | 1.02% |
Expected term (Year) | 3 years 182 days | 3 years 182 days |
Note 10 - Stock Options - Sum48
Note 10 - Stock Options - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding (in shares) | 4,211,168 | 3,485,168 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.09 | $ 1.31 | |
Outstanding, weighted average remaining contractual life (Year) | 3 years 167 days | 2 years 310 days | 2 years 193 days |
Outstanding, aggregate intrinsic value | $ 1,007 | $ 46 | $ 63 |
Granted (in shares) | 2,971,600 | 3,525,000 | |
Granted, weighted average exercise price (in dollars per share) | $ 0.32 | $ 0.78 | |
Exercised (in shares) | 0 | 0 | |
Forfeited or Expired (in shares) | (2,368,334) | (2,799,000) | |
Forfeited or Expired, weighted average exercise price (in dollars per share) | $ 0.90 | $ 0.96 | |
Outstanding (in shares) | 4,814,434 | 4,211,168 | 3,485,168 |
Outstanding, weighted average exercise price (in dollars per share) | $ 0.71 | $ 1.09 | $ 1.31 |
Vested or Expected to Vest (in shares) | 2,282,834 | ||
Vested or Expected to Vest, weighted average exercise price (in dollars per share) | $ 1.02 | ||
Vested or Expected to Vest, weighted average remaining contractual life (Year) | 2 years 281 days | ||
Vested or Expected to Vest, aggregate intrinsic value | $ 317 | ||
Exercisable (in shares) | 2,282,834 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 1.02 | ||
Exercisable, weighted average remaining contractual life (Year) | 2 years 281 days | ||
Exercisable, aggregate intrinsic value | $ 317 |
Note 10 - Stock Options - Sum49
Note 10 - Stock Options - Summary of the Status of Non-vested Shares (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, non-vested (in shares) | 1,659,834 | 1,323,669 |
Balance, non-vested, weighted average grant date fair value (in dollars per share) | $ 0.58 | $ 1.22 |
Granted, non-vested (in shares) | 2,971,600 | 3,525,000 |
Granted, weighted average grant date fair value (in dollars per share) | $ 0.19 | $ 0.28 |
Vested, non-vested (in shares) | (2,003,167) | (1,934,835) |
Vested, weighted average grant date fair value (in dollars per share) | $ 0.43 | $ 0.49 |
Forfeited, non-vested (in shares) | (96,668) | (1,254,000) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0.55 | $ 0.56 |
Balance, non-vested (in shares) | 2,531,599 | 1,659,834 |
Balance, non-vested, weighted average grant date fair value (in dollars per share) | $ 0.24 | $ 0.58 |
Note 11 - Commitments and Con50
Note 11 - Commitments and Contingencies (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Nov. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Apr. 01, 2015 | |
Operating Leases, Rent Expense | $ 808,000 | $ 789,000 | |||
Self-insured Amount per Individual Claim | $ 50,000 | ||||
Self Insurance Reserve | 102,000 | $ 23,000 | |||
Workers' Compensation, Maximum Coverage Policy | $ 1,500,000 | ||||
Payments on Workers' Compensation Claims | 612,000 | ||||
Workers' Compensation, Accumulated Payments on Claims | 1,600,000 | ||||
Workers' Compensation, Estimated Accruals | 161,000 | ||||
Other Noncurrent Assets [Member] | |||||
Worker's Compensation, Prepaid Amount | 438,000 | ||||
Sales Agreement with HydroFLOW USA [Member] | |||||
Licencing Agreement, Royalties on Gross Revenues Payable, Percentage | 3.50% | ||||
Purchase Commitment, Minimum Amount Committed Per Year | $ 655,000 | ||||
Purchase Commitment, Current Period Obligation Payment Allocated to Following Fiscal Year | $ 220,000 | ||||
Purchase Commitment, Minimum Amount Committed, Next Twelve Months | 875,000 | ||||
Purchase Commitment, Amount Ordered | 280,000 | ||||
Accrued Royalties | 0 | 0 | |||
Payments for Royalties | $ 0 | $ 0 |
Note 11 - Commitments and Con51
Note 11 - Commitments and Contingencies - Summary of Future Minimum Operating Lease Commitments (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 654 |
2,019 | 633 |
2,020 | 574 |
2,021 | 377 |
2,022 | 181 |
Thereafter | |
Total | $ 2,419 |
Note 12 - Segment Reporting - R
Note 12 - Segment Reporting - Reportable Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Revenues | $ 40,752 | $ 24,608 | |
Cost of Revenue | 33,604 | 24,821 | |
Segment Profit | 7,148 | (213) | |
Depreciation and amortization | 6,488 | 6,865 | |
Capital Expenditures | 1,766 | 1,017 | |
Identifiable assets(1) | [1] | 42,878 | 40,296 |
Well Enhancement Services Segment [Member] | |||
Revenues | 34,686 | 17,864 | |
Cost of Revenue | 25,902 | 15,654 | |
Segment Profit | 8,784 | 2,210 | |
Depreciation and amortization | 4,817 | 4,932 | |
Capital Expenditures | 1,184 | 759 | |
Identifiable assets(1) | [1] | 37,651 | 33,827 |
Water Transfer Services Segment [Member] | |||
Revenues | 2,128 | 184 | |
Cost of Revenue | 2,666 | 1,629 | |
Segment Profit | (538) | (1,445) | |
Depreciation and amortization | 985 | 1,146 | |
Capital Expenditures | 487 | 196 | |
Identifiable assets(1) | [1] | 2,986 | 3,516 |
Water Hauling Services Segment [Member] | |||
Revenues | 3,684 | 3,838 | |
Cost of Revenue | 3,979 | 3,797 | |
Segment Profit | (295) | 41 | |
Depreciation and amortization | 655 | 669 | |
Capital Expenditures | 89 | 46 | |
Identifiable assets(1) | [1] | 1,730 | 2,048 |
Construction Services Segment [Member] | |||
Revenues | 254 | 2,713 | |
Cost of Revenue | 212 | 2,992 | |
Segment Profit | 42 | (279) | |
Depreciation and amortization | |||
Capital Expenditures | |||
Identifiable assets(1) | [1] | 600 | |
Unallocated and Other Segments [Member] | |||
Revenues | 9 | ||
Cost of Revenue | 845 | 749 | |
Segment Profit | (845) | (740) | |
Depreciation and amortization | 31 | 118 | |
Capital Expenditures | 6 | 16 | |
Identifiable assets(1) | [1] | $ 511 | $ 305 |
[1] | Identifiable assets is calculated by summing the balances of accounts receivable, net; inventories; property and equipment, net; and other assets. |
Note 12 - Segment Reporting - L
Note 12 - Segment Reporting - Loss From Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Segment profit (loss) | $ 7,148 | $ (213) |
General and administrative expense | (5,243) | (3,780) |
Patent litigation defense costs | (129) | (151) |
Depreciation and amortization | (6,488) | (6,865) |
Loss from Operations | $ (4,712) | $ (11,009) |