What changed in this filing

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Item 1. Financial Statements

2025-10-02 compared with 2025-06-17 · 228 added, 150 removed, 454 unchanged (45% of the section changed)

2 unchanged sentences

CONSOLIDATED BALANCE SHEETS

December 31, *

Current Assets

3 unchanged sentences

Prepaid expenses and other current assets

Assets held for sale

Total Current Assets

27 unchanged sentences

320,000,000 shares authorized;

68,688,575 shares issued, issuable* and

outstanding March 31, 2025 and 70,000,000 shares authorized on December 31, 2024

68,688,575 shares issued, issuable* and outstanding June 30, 2025 and 70,000,000 shares authorized on December 31, 2024

Common stock issuable

14 unchanged sentences

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT

These numbers are derived

from the audited financial statements for the year ended December 31, 2024.

Includes 2,785,000 shares

issuable at March 31, 2025 and December 31, 2024, per terms of note agreements.

numbers are derived from the audited financial statements for the year ended December 31, 2024.

2,785,000 shares issuable at June 30, 2025 and December 31, 2024, per terms of note agreements.

accompanying notes are an integral part of these condensed consolidated financial statements.

1 unchanged sentence

CONSOLIDATED STATEMENTS OF OPERATIONS

the Three Months Ended March 31,

and administrative expenses

and related expenses

For the Three Months Ended

For the Six Months Ended

Total revenue

Operating expenses:

from operations

income (expense):

income (expense)

non-operating expense, net

from continuing operations

from discontinued operations, net of tax

income (loss) attributable to non-controlling interest

Loss attributable to SEER common stockholders

Products costs

General and administrative expenses

Salaries and related expenses

Total operating expenses

Loss from operations

Other income (expense):

Interest expense

Other income (expense)

Total non-operating expense, net

Loss from continuing operations

( 1,025,100 )

( 1,032,800 )

earnings per share attributable to SEER common stockholders

from continuing operations, per share

from discontinued operations, per share

Loss per share, basic

diluted earnings per share attributable to SEER common stockholders

from continuing operations, per share

from discontinued operations, per share

Loss per share, basic

average shares outstanding – basic

average shares outstanding – diluted

Income from discontinued operations, net of tax

( 1,025,100 )

( 1,029,100 )

Net income (loss) attributable to non-controlling interest

Net Loss attributable to SEER common stockholders

$ ( 576,600 )

$ ( 674,600 )

$ ( 1,023,200 )

$ ( 1,026,800 )

Basic earnings per share attributable to SEER common stockholders

Loss from continuing operations, per share

Income from discontinued operations, per share

Net Loss per share, basic

Fully diluted earnings per share attributable to SEER common stockholders

Loss from continuing operations, per share

Income from discontinued operations, per share

Net Loss per share, basic

Weighted average shares outstanding – basic

Weighted average shares outstanding – diluted

accompanying notes are an integral part of these condensed consolidated financial statements.

2 unchanged sentences

Preferred Stock

Additional Paid-in

Stock Subscription

Non-controller

Total Stockholders’

Stockholders’

Balances at December 31, 2024

9 unchanged sentences

( 15,165,700 )

Issuance of common stock

Net income (loss)

Balances at June 30, 2025

( 37,203,900 )

( 1,955,900 )

( 15,734,300 )

Preferred Stock

1 unchanged sentence

Non-controller

Total Stockholders’

at December 31, 2023

Stockholders’

Balances at December 31, 2023

( 34,377,900 )

1 unchanged sentence

( 13,288,500 )

Net income (loss)

Balances at March 31, 2024

( 34,730,100 )

1 unchanged sentence

( 13,641,600 )

Balances at March 31,

( 34,730,100 )

1 unchanged sentence

( 13,641,600 )

Net income (loss)

Balances at June 30, 2024

( 35,404,700 )

1 unchanged sentence

( 14,317,600 )

( 35,404,700 )

( 1,951,800 )

( 14,317,600 )

accompanying notes are an integral part of these condensed consolidated financial statements.

1 unchanged sentence

CONSOLIDATED STATEMENT OF CASH FLOWS

For the Three

Months Ended March 31,

Cash flows from operating activities:

Loss from continuing operations

the Six Months Ended June 30,

Cash flows from operating

from continuing operations

$ ( 1,025,100 )

$ ( 1,032,800 )

Income (loss) from discontinued operations

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation and amortization

Gain on sale of fixed assets

Changes in operating assets and liabilities:

(loss) from discontinued operations

( 1,025,100 )

( 1,029,100 )

Adjustments to reconcile net

loss to net cash provided by operating activities:

and amortization

sale of fixed assets

assets held for sale

Changes in operating assets

and liabilities:

Accounts receivable

Contract assets

Prepaid expenses and other assets

Accounts payable, accrued liabilities, and customer deposits

Prepaid expenses and other

Accounts payable, accrued

liabilities, and customer deposits

Contract liabilities

Deferred revenue

Assets and liabilities held for sale

Net cash used in operating activities

Cash flows from investing activities:

and liabilities held for sale

used in operating activities

Cash flows from investing

Purchase of property and equipment

Proceeds from the sale of fixed assets held for sale

Net cash (used) provided by investing activities

Cash flows from financing activities:

Payments of notes and capital lease obligations

Proceeds from short-term and long-term debt

Net cash provided by financing activities

Net increase (decrease) in cash

Cash at the beginning of period

Cash at the end of period

Supplemental disclosures of cash flow information:

Cash paid for interest

Financing of prepaid insurance premiums

Debt converted to common stock

Interest converted to common stock

from the sale of fixed assets held for sale

(used) provided by investing activities

Cash flows from financing

Payments of notes and capital

lease obligations

Proceeds from issuance of

from short-term and long-term debt

(used) provided by financing activities

Net (decrease) increase in

at the beginning of period

at the end of period

disclosures of cash flow information:

paid for interest

of prepaid insurance premiums

converted to common stock

accompanying notes are an integral part of these condensed consolidated financial statements.

41 unchanged sentences

shown in the accompanying consolidated financial statements, the Company has experienced recurring losses, and has an accumulated deficit

of approximately $ 36.6 million as of March 31, 2025, and for the three months ended March 31, 2025, we incurred a net loss from continuing

operations of approximately $ 447,500 .

As of March 31, 2025, our current liabilities exceeded our current assets by approximately $ 13.5

of approximately $ 37.2 million as of June 30, 2025, and for the six months ended June 30, 2025, we incurred a net loss from continuing

operations of approximately $ 1.0 million.

As of June 30, 2025, our current liabilities exceeded our current assets by approximately $ 14.0

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

of a major portion of the Company’s assets as of March 31, 2025, is dependent upon continued operations.

of a major portion of the Company’s assets as of June 30, 2025, is dependent upon continued operations.

The Company is dependent

on generating additional revenue or obtaining adequate capital to fund operating losses until it becomes profitable.

For the three months

ended March 31, 2025, the Company raised approximately $ 12,000 from the issuance of short-term and long-term debt, offset by payments

For the six months

ended June 30, 2025, the Company raised approximately $ 0.2 million from the issuance of short-term and long-term debt, offset by payments

of principal on short term notes of $ 0.3 million, for a net cash used by financing activities of approximately $ 0.2 million.

36 unchanged sentences

The carrying amount of intangible assets;

valuation allowances and

reserves for receivables;

valuation allowances and reserves for

revenue recognition related to contracts accounted for under the percentage of completion method;

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R&D expenses were

$ 0 for both the three months ended March 31, 2025, and 2024.

$ 0 for both the six months ended June 30, 2025, and 2024.

are stated at the lower of cost or net realizable value on a first in, first out basis and includes the following amounts:

2 unchanged sentences

Total inventory

numbers are derived from the audited financial statements for the year ended December 31,

Company accounts for income taxes pursuant to Accounting Standards Codification (“ASC”) 740, Income Taxes, which

3 unchanged sentences

and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled.

740 also provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions

recognized in the financial statements.

Tax positions must meet a “more-likely-than-not” recognition threshold at the

effective date to be recognized.

During the three months ended March 31, 2025, and 2024 the Company recognized no

adjustments for uncertain tax positions.

740 also provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized

in the financial statements.

Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date

to be recognized.

During the six months ended June 30, 2025, and 2024 the Company recognized no adjustments for uncertain tax positions.

Company recognizes interest and penalties related to uncertain tax positions in income tax expense.

No interest and penalties related

to uncertain tax positions were recognized as of March 31, 2025, and 2024.

The Company expects no material changes to unrecognized

tax positions within the next twelve months.

to uncertain tax positions were recognized as of June 30, 2025, and 2024.

The Company expects no material changes to unrecognized tax

positions within the next twelve months.

Company has filed federal and state tax returns through December 31, 2023.

28 unchanged sentences

SCHEDULE OF DISAGGREGATION OF REVENUE

Three months ended

March 31, 2025

Environmental

Three months ended June 30, 2025

Environmental Solutions

Sources of Revenue

1 unchanged sentence

Total Revenue

Three months ended

March 31, 2024

Three months ended June 30, 2024

Environmental Solutions

2 unchanged sentences

Total Revenue

Six months ended June 30, 2025

Environmental Solutions

Sources of Revenue

Product sales

Total Revenue

Six months ended June 30, 2024

Environmental Solutions

Sources of Revenue

Product sales

Total Revenue

a performance obligation has been satisfied but not yet invoiced at the reporting date, a contract asset is recognized on the balance

4 unchanged sentences

Contract Liabilities

Deferred Revenue

Accounts Receivable, net

1 unchanged sentence

Contract Liabilities

Deferred Revenue

(non-current)

Balance as of March 31, 2025

Balance as of June 30, 2025

Balance as of December 31, 2024

Increase (decrease)

$ ( 258,600 )

$ ( 178,900 )

majority of the Company’s revenue is generally invoiced on a weekly or monthly basis, and the payments are generally received within

3 unchanged sentences

Performance Obligations

of March 31, 2025, the aggregate amount of the transaction price allocated to the remaining performance obligations was approximately

of June 30, 2025, the aggregate amount of the transaction price allocated to the remaining performance obligations was approximately

$ 1.8 million, of which the Company expects to recognize approximately 85 % of this revenue over the next 12 months.

4 unchanged sentences

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT

June 30, 2025

December 31, 2024

Field and shop equipment

4 unchanged sentences

Property and equipment, net

expense for both the three months ended March 31, 2025, and 2024 was $ 2,900 .

For the three months ended March 31, 2025, and 2024, depreciation

expense included in cost of goods sold was $ 1,900 and $ 2,000 , respectively.

For the three months ended March 31, 2025, and 2024, depreciation

expense included in selling, general and administrative expenses was $ 1,100 and $ 900 , respectively.

numbers are derived from the audited financial statements for the year ended December 31,

expense for the three months ended June 30, 2025, and 2024 was $ 2,400 and $ 3,100 , respectively.

For the three months ended June 30, 2025,

and 2024, depreciation expense included in cost of goods sold was $ 1,300 and $ 2,000 , respectively.

For both the three months ended June

30, 2025, and 2024, depreciation expense included in selling, general and administrative expenses was $ 1,100 .

expense for the six months ended June 30, 2025, and 2024 was $ 5,300 and $ 6,000 , respectively.

For the six months ended June 30, 2025,

and 2024, depreciation expense included in cost of goods sold was $ 3,200 and $ 4,100 , respectively.

For the six months ended June 30,

2025, and 2024, depreciation expense included in selling, general and administrative expenses was $ 2,100 and $ 1,900 , respectively.

5 – INTANGIBLE ASSETS

SCHEDULE OF INTANGIBLE ASSETS

March 31, 2025 (unaudited)

June 30, 2025 (unaudited)

Gross carrying amount

9 unchanged sentences

$ ( 766,700 )

The estimated useful lives of the intangible assets range from seven 7 to twenty

Amortization expense was $ 600

for both the three months ended March 31, 2025, and 2024, respectively.

numbers are derived from the audited financial statements for the year ended December 31,

estimated useful lives of the intangible assets range from seven 7 to twenty years .

Amortization expense was $ 700 for both the six months

ended June 30, 2025, and 2024, respectively.

Amortization expense was $ 1,300 and $ 1,600 for the six months ended June 30, 2025, and 2024,

respectively.

Company has entered into operating leases primarily for real estate.

These leases have terms which range from 1

years, and often include one or more options to renew.

These renewal terms can extend the lease term from 1

year to month-to-month and are included in the lease term when it is reasonably certain that the Company will exercise the option.

These operating leases are included in “Right of use assets” on the Company’s March 31, 2025, Consolidated Balance

Sheets and represent the Company’s right to use the underlying asset for the lease term.

The Company’s obligation to

make lease payments are included in “Current portion of lease liabilities” and “Lease liabilities net of current

portion” on the Company’s March 31, 2025, Consolidated Balance Sheets.

As of March 31, 2025, total right-of-use assets

and operating lease liabilities were approximately $ 114,600

and $ 132,500 ,

These leases have terms which range from 1 to 8 years, and often

include one or more options to renew.

These renewal terms can extend the lease term from 1 year to month-to-month and are included in

the lease term when it is reasonably certain that the Company will exercise the option.

These operating leases are included in “Right

of use assets” on the Company’s June 30, 2025, Consolidated Balance Sheets and represent the Company’s right to use

the underlying asset for the lease term.

The Company’s obligation to make lease payments are included in “Current portion

of lease liabilities” and “Lease liabilities net of current portion” on the Company’s June 30, 2025, Consolidated

Balance Sheets.

As of June 30, 2025, total right-of-use assets and operating lease liabilities were approximately $ 114,600 and $ 132,500 ,

respectively.

All operating lease expense is recognized on a straight-line basis over the lease term.

In the three months ended

March 31, 2025, the Company recognized approximately $ 11,600

in operating lease costs for right-of-use assets.

As of March 31, 2025, the Company is in default of the office lease.

In the six months ended June 30,

2025, the Company recognized approximately $ 11,600 in operating lease costs for right-of-use assets.

As of June 30, 2025, the Company

is in default of the office lease, and is not occupying the leased space.

the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present

4 unchanged sentences

SCHEDULE OF RIGHT-OF-USE-ASSETS AND RELATED LEASE LIABILITIES

Three months ended March 31,

Six months ended June 30,

Cash paid for operating lease liabilities

2 unchanged sentences

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of lease liabilities as of March 31, 2025 were as follows:

Maturities of lease liabilities as of June 30, 2025 were as follows:

Total operating lease

9 unchanged sentences

Total Accrued Liabilities

numbers are derived from the audited financial statements for the year ended December 31,

8 – UNCOMPLETED CONTRACTS

9 unchanged sentences

Contract liabilities

NOTE 9 – INVESTMENTS

Paragon Waste Solutions LLC

its inception through March 31, 2025, the Company has provided approximately $ 6.4 million in funding to PWS for working capital and the

numbers are derived from the audited financial statements for the year ended December 31,

9 – INVESTMENTS

Waste Solutions LLC

its inception through June 30, 2025, the Company has provided approximately $ 6.4 million in funding to PWS for working capital and the

further development and construction of various prototypes and commercial waste destruction units.

12 unchanged sentences

June 30, 2023, the Company exchanged its interest in PSMW in exchange for a 2 % interest in Amlon Holdings when PSWM was acquired by Amlon

as of March 31, 2025 (unaudited), and December 31, 2024*, was comprised of the following:

as of June 30, 2025 (unaudited), and December 31, 2024*, was comprised of the following:

SCHEDULE OF DEBT

Short term notes

Convertible notes, unsecured

Current portion of long-term debt and capital lease obligations

Current portion of long-

term debt and capital

lease obligations

Long term debt

5 unchanged sentences

Amortization of debt discount

Balance March 31, 2025

Balance June 30, 2025

$ 4,906,000 (2)

2 unchanged sentences

ending in November of 2025.

For the three months ended March 31, 2025, the Company recorded interest expense of $ 700 .

For the six months ended June 30, 2025, the Company recorded interest expense of $ 1,400 .

There was $ 0

accrued and unpaid interest as of March 31, 2025.

B) A unsecured note payable of $ 12,000 , dated February 21, 2025, interest at an

accrued and unpaid interest as of June 30, 2025.

B) An unsecured note payable of $ 12,000 , dated February 21, 2025, interest at an

annual rate of 8 % simple interest and matured on March 21, 2025.

For the three months ended March 31, 2025, the Company recorded

interest expense of $ 100 .

There was $ 100 accrued and unpaid interest as of March 31, 2025.

For the six months ended June 30, 2025, the Company recorded interest

expense of $ 400 .

There was $ 400 accrued and unpaid interest as of June 30, 2025.

C) An unsecured note payable of $ 150,000 , dated

April 25, 2025, interest at an annual rate of 8 % simple interest and matured on June 20, 2025.

For the six months ended June 30,

2025, the Company recorded interest expense of $ 8,000 .

There was $ 8,000 accrued and unpaid interest as of June 30, 2025.

balance consists of $ 4,225,900 of secured notes, and $ 680,100 unsecured notes payable, of which $ 4,450,000 are in default.

3 unchanged sentences

Short term notes

short-term notes and accrued interest - Related parties

Accrued interest

Total short-term notes and accrued interest - Related parties

numbers are derived from the audited financial statements for the year ended December 31,

12 – EQUITY TRANSACTIONS

Common Stock Transactions

the three months ended March 31, 2025, 4 million shares of preferred stock was converted into 3.6 million shares of common stock.

part of the transaction, $ 225,000 of debt was also contributed to paid in capital, as well as $ 8,600 in accrued interest on the debt.

the six months ended June 30, 2025, the Company sold 200,000 shares of restricted common stock at $ 0.05 per share.

Net proceeds were

$ 9,000 , after paying a 10 % in transaction fees.

the six months ended June 30, 2025, 4 million shares of preferred stock was converted into 3.6 million shares of common stock.

of the transaction, $ 225,000 of debt was also contributed to paid in capital, as well as $ 8,600 in accrued interest on the debt.

Common Stock Transactions

the three months ended March 31, 2024, no new equity transactions have occurred.

the six months ended June 30, 2024, no new equity transactions have occurred.

Non-controlling

5 unchanged sentences

13 – CUSTOMER CONCENTRATIONS

Company had sales from operations from two customers, for the three months ended March 31, 2025, and 2024 that surpassed the 10% threshold

of total revenue, respectively.

Company had sales from operations from three and zero customers, for the six months ended June 30, 2025, and 2024 that surpassed the

10% threshold of total revenue, respectively.

In total, these customers represented approximately 39 % and 0 % of our total sales, respectively.

concentration of the Company’s business with a relatively small number of customers may expose us to a material adverse effect

The concentration of the Company’s business with a relatively small number of customers may expose us to a material adverse effect

if one or more of these large customers were to experience financial difficulty or were to cease being customers for non-financial related

7 unchanged sentences

would be anti-dilutive.

For the three months ended March 31, 2025 and 2024, all potentially dilutive securities have been excluded from

For the six months ended June 30, 2025 and 2024, all potentially dilutive securities have been excluded from

the diluted share calculations because they were anti-dilutive as a result of the net losses incurred for the respective period, or were

3 unchanged sentences

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES

Three months ended March 31,

Six months ended June 30,

Convertible notes payable, including accrued interest

3 unchanged sentences

production operations of the Company’s wholly owned subsidiary, SEM, LLC.

For the unaudited three months ended March 31, 2025 and

For the unaudited six months ended June 30, 2025 and

2024, all media production operations from SEM have been reported as discontinued operations.

13 unchanged sentences

classes of line items constituting pretax income on discontinued operations (unaudited):

For the three months ended

For the six months ended

Services revenue

18 unchanged sentences

All intercompany transactions have been eliminated.

information for the (unaudited) three months ended March 31, 2025 and 2024 is as follows:

information for the (unaudited) three and six months ended June 30, 2025 and 2024 is as follows:

SCHEDULE OF SEGMENT INFORMATION

Three Months Ended March 31,

Three Months Ended June 30,

Environmental

4 unchanged sentences

Environmental

and amortization

income (loss) attributable to SEER common stockholders

Capital expenditures

(cash and noncash)

Depreciation and amortization

Interest expense

Net income (loss) attributable to SEER common stockholders

Capital expenditures (cash and noncash)

Six Months Ended June 30,

Environmental

Depreciation and amortization

Interest expense

Stock-based compensation

Net income (loss) attributable to SEER common stockholders

( 1,268,000 )

( 1,023,200 )

Capital expenditures (cash and noncash)

Environmental

Depreciation and amortization

Interest expense

Net income (loss) attributable to SEER common stockholders

( 1,091,900 )

( 1,026,700 )

Capital expenditures (cash and noncash)

information excludes the results of SEM media operations.

3 unchanged sentences

17 – SUBSEQUENT EVENTS

In April 2025, the Company received proceeds of $ 150,000

by issuing a secured short-term promissory note, bearing interest at a rate of 8 % per annum, and maturing on June 20, 2025.

rate increases to 12 % after June 20, 2025, if not paid in full.

July 2025, the Company received proceeds of $ 100,000 by issuing a secured short-term promissory note, bearing interest at a rate of 8 %

per annum, and maturing on August 18, 2025.

The interest rate increases to 12 % after August 18, 2025, if not paid in full.

in July 2025, the Company received proceeds of $ 100,000 by issuing a secured short-term promissory note, bearing interest at a rate of

8 % per annum, and maturing on September 7, 2025.

The interest rate increases to 12 % after September 7, 2025, if not paid in full.

Also in September 2025, the Company received proceeds of $ 200,000 by issuing a secured short-term promissory note,

bearing interest at a rate of 8 % per annum, and maturing on November 18, 2025.

The interest rate increases to 12 % after November 18, 2025,

if not paid in full.

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-Q

Item 1. Financial Statements