Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Revenue Recognition

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Note 3 - Revenue Recognition
6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

3. Revenue Recognition

 

The Company has historically generated revenues by recycling lead acid batteries (“LABs”) and selling the recovered lead to its customers. Primary components of the recycling process include sales of recycled lead consisting of lead compounds, ingoted hard lead and ingoted AquaRefined lead as well as plastics. The Company commenced the shipment of products for sale, consisting of lead compounds and plastics, in April 2017, and through March 31, 2018, all revenue was derived from the sale of lead compounds and plastics. In April 2018, the Company began shipping lead bullion in addition to lead compounds and plastics. In June 2018, the Company began shipping high purity lead from its AquaRefining process.

 

The Company was not in commercial production during the three and six months ended June 30, 2021 or during the three and six months ended June 30, 2020. The nominal revenue generated during the six months ended June 30, 2020 resulted from the sale of inventory. Historically, Company products transferred to customers at a single point in time accounted for 100% of its revenue.