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SEER reports revenue drop, lower loss in second quarter

BROOMFIELD — Strategic Environmental & Energy Resources Inc. (OTC:SENR), a Broomfield-based provider of environmental, renewable-fuels and industrial-waste stream management services, reported a sharp drop in revenue for the second quarter, but with a lower loss.

SEER recorded revenue of $731,200, down 34% from $1.1 million for the same period a year ago. The company reported a net loss of $440,800, down from a net loss of $541,300 in the second quarter of 2022.

“The Company is dependent on generating additional revenue or obtaining adequate capital to fund operating losses until it becomes profitable,” the company stated in a quarterly filing with the U.S. Securities and Exchange Commission

SEER reported that it had raised $900,000 in short- and long-term debt to fund operations.

“In addition, the Company has undertaken a number of specific steps to continue to operate as a going concern,” SEER reported, focusing on “developing organic growth in our operating companies and improving gross and net margins through increased attention to pricing, aggressive cost management and overhead reductions.”SEER in July reported that it sold its Texas-based affiliate, Paragon Southwest Medical Waste.

Source: BizWest