What changed in this filing

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Item 1A. Risk Factors

2021-04-15 compared with 2020-05-15 · 74 added, 73 removed, 506 unchanged (23% of the section changed)

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from those expected or those expressed in any forward-looking statements made by us or on our behalf.

In addition, there

may be additional risks of which we

are not presently aware or that we currently believe are immaterial that could have an adverse impact on our business.

In addition, there may be

additional risks of which we are not presently aware or that we currently believe are immaterial that could have an adverse impact

on our business.

Related to Our Business

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the demand for our services.

believe that strict enforcement of laws and regulations relating to regulated industrial

cleaning, environmental compliance, renewable energy and waste minimization/management can have a

positive effect on our business, as these laws and regulations may increase the demand for our products and services.

of enforcement, government shutdowns, or other changes in governmental regulation of the industries in which we operate could

increase the number of competitors we face or reduce or delay the need for our services.

believe that strict enforcement of laws and regulations relating to regulated industrial cleaning, environmental compliance, renewable

energy and waste minimization/management can have a positive effect on our business, as these laws and regulations may increase

the demand for our products and services.

Relaxation of enforcement, government shutdowns, or other changes in governmental regulation

of the industries in which we operate could increase the number of competitors we face or reduce or delay the need for our services.

may incur significant charges as a result of divestitures.

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We continue to evaluate the performance of our assets and businesses.

Based on this evaluation, we may sell certain assets or businesses or exit particular markets.

Any impairments and losses on divestiture

resulting from this process may cause us to record significant charges, including those related to goodwill and other intangible

In addition, divestitures may not yield the targeted improvements in our business.

Divestitures involve risks, including

difficulties in the separation of operations, services, products and personnel, disruption in our operations or businesses, finding

a suitable purchaser, the diversion of management’s attention from our other businesses, the potential loss of key employees,

the erosion of employee morale or customer confidence, and the retention of contingent liabilities related to the divested business.

Any charges that we are required to record or the failure to achieve the intended financial results associated with divestitures

of businesses or assets could have a material adverse effect on our business, financial condition or results of operations.

Based on this evaluation,

we may sell certain assets or businesses or exit particular markets.

Any impairments and losses on divestiture resulting from

this process may cause us to record significant charges, including those related to goodwill and other intangible assets.

divestitures may not yield the targeted improvements in our business.

Divestitures involve risks, including difficulties in the

separation of operations, services, products and personnel, disruption in our operations or businesses, finding a suitable purchaser,

the diversion of management’s attention from our other businesses, the potential loss of key employees, the erosion of employee

morale or customer confidence, and the retention of contingent liabilities related to the divested business.

Any charges that

we are required to record or the failure to achieve the intended financial results associated with divestitures of businesses

or assets could have a material adverse effect on our business, financial condition or results of operations.

substantial indebtedness could adversely affect our financial condition and ability to fulfill our obligations.

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$2.8 million.

We had a working capital deficit of approximately $7.1 million at December 31, 2019.

These factors raise substantial

doubt about the ability of the Company to continue to operate as a going concern.

It may be necessary for us to rely on external

financing to supplement working capital to meet our liquidity needs in the fiscal years ended 2020 and 2021.

The success of securing

such financing on terms acceptable to us, if at all, cannot be assured.

If we are unable to achieve the financing necessary to

continue our plan of operations, our stockholders may lose their entire investment in the Company.

We had a working capital deficit of approximately $9.8 million as of December 31, 2020.

These factors

raise substantial doubt about the ability of the Company to continue to operate as a going concern.

It may be necessary for us

to rely on external financing to supplement working capital to meet our liquidity needs in the fiscal years ended 2021 and 2022.

The success of securing such financing on terms acceptable to us, if at all, cannot be assured.

If we are unable to achieve the

financing necessary to continue our plan of operations, our stockholders may lose their entire investment in the Company.

are subject to operating and litigation risks that may not be covered by insurance.

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face direct competition from a large number of small, local competitors.

face competition from companies with greater resources than us, companies with closer geographic proximity to our customers and

potential customers, companies with service offerings we do not provide and companies that can provide lower pricing than we can

in certain instances.

An increase in the number or location of commercial treatment or disposal facilities for waste, significant

expansion of existing competitor permitted capabilities, acquisitions by competitors or a decrease in the treatment or disposal

fees charged by competitors could materially and adversely affect our results of operations.

competition from these businesses, and competition from them is likely to exist in new locations to which we may expand in the

In addition, large national companies with substantial resources operate in the markets we serve.

We face competition from companies with greater resources

than us, companies with closer geographic proximity to our customers and potential customers, companies with service offerings

we do not provide and companies that can provide lower pricing than we can in certain instances.

An increase in the number or

location of commercial treatment or disposal facilities for waste, significant expansion of existing competitor permitted capabilities,

acquisitions by competitors or a decrease in the treatment or disposal fees charged by competitors could materially and adversely

affect our results of operations.

We face competition from these businesses, and competition from them is likely to exist in new

locations to which we may expand in the future.

In addition, large national companies with substantial resources operate in the

markets we serve.

economic conditions, government funding or competitive pressures affecting our customers could harm our business.

serve a diverse customer base that includes oil and gas refineries, regional landfills,

medical waste destruction operations, agricultural companies and food and beverage companies and other commercial and industrial

customers that are, or may be, affected by changing economic conditions and competition.

These customers may be significantly

impacted by deterioration in the general economy and may curtail waste production and/or delay spending on plant maintenance,

waste cleanup projects and other discretionary work.

Factors that can impact general economic conditions and the level of spending

by customers include the general level of consumer and industrial spending, increases in fuel and energy costs, residential and

commercial real estate and mortgage market conditions, labor and healthcare costs, access to credit, consumer confidence and other

macroeconomic factors affecting spending behavior.

Market forces may also compel customers to cease or reduce operations, declare

bankruptcy, liquidate or relocate to other countries, any of which could adversely affect our business.

serve a diverse customer base that includes oil and gas refineries, regional landfills, medical waste destruction operations,

agricultural companies and food and beverage companies and other commercial and industrial customers that are, or may be, affected

by changing economic conditions and competition.

These customers may be significantly impacted by deterioration in the general

economy and may curtail waste production and/or delay spending on plant maintenance, waste cleanup projects and other discretionary

Factors that can impact general economic conditions and the level of spending by customers include the general level of

consumer and industrial spending, increases in fuel and energy costs, residential and commercial real estate and mortgage market

conditions, labor and healthcare costs, access to credit, consumer confidence and other macroeconomic factors affecting spending

Market forces may also compel customers to cease or reduce operations, declare bankruptcy, liquidate or relocate to

other countries, any of which could adversely affect our business.

operations are significantly affected by potential seasonal fluctuations due to weather;

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as a result of terrorism or war could also affect our ability to raise capital and conduct business.

late 2019, a novel strain of coronavirus, COVID-19, was reported to have surfaced in Wuhan, China.

Since then, the COVID-19 coronavirus

has spread to multiple countries, including the United States.

If the COVID-19 coronavirus continues to spread, we may experience

disruptions that could severely impact our business, including;

availability of necessary items or availability of workforce in

a non-essential business either due to voluntary or mandated quarantine.

The global outbreak of the COVID-19 coronavirus continues

to rapidly evolve.

The extent to which the COVID-19 coronavirus may impact our business will depend on future developments, which

In late 2019, a novel strain of coronavirus,

COVID-19, was reported to have surfaced in Wuhan, China.

Since then, the COVID-19 coronavirus has spread to multiple countries,

including the United States.

If the COVID-19 coronavirus continues to spread, we may continue to experience disruptions

that could severely impact our business, including availability of necessary items or availability of workforce in a non-essential

business either due to voluntary or mandated quarantine.

The global outbreak of the COVID-19 coronavirus continues to rapidly

The extent to which the COVID-19 may continue to impact our business will depend on future developments, which

are highly uncertain and cannot be predicted with confidence, such as the ultimate geographic spread of the disease, the duration

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control over financial reporting was not effective.

We are currently working to remediate the

material weaknesses.

We cannot be sure when we will successfully remediate the material weakness or whether compensating

controls will be effective in preventing or detecting material errors.

The remediation may require substantial time and resources

to successfully implement.

We may be unable to remediate these weaknesses until we have received additional funding that

may be necessary to hire additional personnel.

Until we have sufficient internal finance and accounting staff, we plan to work

closely with external financial advisors to document the existing financial processes, risk assessment, and internal controls

systematically.

These material weaknesses could cause creditors, customers, investors, regulators, strategic alliances

and others to lose confidence in the effectiveness of our internal controls and the accuracy of our financial statements and other

information, all of which could have a material adverse impact on our business, results of operations and financial condition.

are currently working to remediate the material weaknesses.

We cannot be sure when we will successfully remediate the material

weakness or whether compensating controls will be effective in preventing or detecting material errors.

The remediation may require

substantial time and resources to successfully implement.

We may be unable to remediate these weaknesses until we have received

additional funding that may be necessary to hire additional personnel.

Until we have sufficient internal finance and accounting

staff, we plan to work closely with external financial advisors to document the existing financial processes, risk assessment,

and internal controls systematically.

These material weaknesses could cause creditors, customers, investors, regulators, strategic

alliances and others to lose confidence in the effectiveness of our internal controls and the accuracy of our financial statements

and other information, all of which could have a material adverse impact on our business, results of operations and financial

are subject to the reporting requirements of the federal securities laws, which can be expensive .

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securities, securities class action litigation has often been instituted against these companies.

type of litigation, if instituted, could result in substantial costs and a diversion of management’s attention and resources,

which would harm our business, operating results or financial condition.

This type of litigation, if

instituted, could result in substantial costs and a diversion of management’s attention and resources, which would harm

our business, operating results or financial condition.

do not presently intend to pay any cash dividends on or repurchase any shares of our common stock.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1A. Risk Factors