Greenwave Technology Solutions, Inc. is a Delaware-incorporated environmental services company specializing in waste recycling, scrap yard operations, equipment sales, and property ownership.

# Greenwave Technology Solutions, Inc. - Company Summary

## Overview
Greenwave Technology Solutions, Inc. is a Delaware-incorporated company engaged in waste recycling, waste disposal, and related environmental services. The company has a significant focus on scrap yard operations, equipment sales, and property ownership related to its core business activities.

## Business Activities
- **Scrap Yard Operations:** The company owns and operates multiple scrap yards, including properties and licenses/permits associated with these yards.
- **Equipment Sales and Financing:** The Company sells and finances equipment, including shredders and downstream systems. It also purchases equipment from related parties, including trucks and vehicles used in hauling.
- **Property Ownership and Transactions:** The company has acquired multiple properties underlying its scrap yards, including parcels and associated licenses, through detailed sale agreements and promissory notes.
- **Related Party Transactions:** Extensive dealings with entities controlled by its Chief Executive Officer, Danny Meeks, including leases, equipment sales, property transactions, and service arrangements.
- **Customer Base and Revenue:** Specific details such as the number of customers, revenue figures, or income are not directly provided in the document; thus, cannot be summarized.
- **Employees:** The number of employees is not specified in the provided material.
- **Financials:** Exact revenue, net income, or other financial metrics are not included in the summary.

## Corporate Details
- **Executive Leadership:** The company is led by CEO and Chairman Danny Meeks, with other directors and officers involved in governance.
- **Shareholder Base:** Includes significant ownership held by Danny Meeks and an entity controlled by him, as well as other notable shareholders like Joseph Reda.
- **Stock and Equity Plans:** The Company has multiple stock incentive plans with thousands of shares reserved for issuance, including various stock options, warrants, and preferred stock.

## Governance
- **Board Composition:** The Board consists of three members, with two independent directors meeting Nasdaq independence standards.
- **Committees:** The Board has established Audit, Compensation, Nominating and Corporate Governance, and Sustainability Committees to oversee different aspects of corporate governance and risk management.
- **Risk Oversight:** The Board oversees operational risks and management strategies, with specific committees coordinating on areas like environmental and social governance.

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**Note:** Specific quantitative data such as number of customers, total revenue, profit margins, and employee count are not provided in the supplied document and therefore cannot be included in this summary.

Greenwave Technology Solutions, Inc. is a metal recycling company specializing in ferrous and nonferrous metals, operating facilities across Virginia, North Carolina, and Ohio.

# Greenwave Technology Solutions, Inc. Overview

## Company Formation and Name Change
- **Founded**: April 26, 2013, originally as MassRoots, Inc.
- **Current Name**: Greenwave Technology Solutions, Inc. (renamed in October 2021 following the sale of social media assets).

## Business Transition
- Transitioned to the **scrap metal industry** post-acquisition of Empire Services, Inc. on September 30, 2021, operating 14 recycling facilities in Virginia, North Carolina, and Ohio.
- Discontinued all operations related to its former social media business in late 2021.

## Industry Operations
- **Core Business**: Metal recycling, focusing on:
  - **Ferrous Metals**: Heavy melting steel, plate and structural steel, and shredded scrap.
  - **Nonferrous Metals**: Aluminum, copper, stainless steel, nickel, brass, titanium, lead, and precious metals from recycled catalytic converters.
- **Facilities**: Operates shredding facilities equipped with advanced separation technology to maximize metal recovery.
- **Employee Count**: 131 employees as of April 15, 2024.
  
## Revenue and Customer Base
- Significant customer concentration with a limited number of customers making up a large share of revenue:
  - For the fiscal year ended December 31, 2023:
    - Largest customer contributed approximately **58.08%** of total revenue.
    - Second-largest customer contributed about **5.61%**.
- For the fiscal year ended December 31, 2022:
  - Three large customers individually accounted for revenues of approximately **53%, 16%, and 13%**.

## Pricing and Market Dynamics
- **Pricing**: Based on prevailing market rates influenced by market cycles, global demand, and governmental regulations.
- The operational strategy involves adjusting purchasing prices in response to changes in scrap metal selling prices, ensuring operational income stability.

## Facilities and Expansion Plans
- **Current Facilities**: Facilities located in Virginia and North Carolina.
- **New Expansion**: A metal recycling facility is being opened in Cleveland, Ohio, as part of a strategic expansion in the second quarter of 2023.

## Revenue Streams
- Revenue is generated from the sales of processed ferrous and nonferrous scrap metals, along with catalytic converters. 
- Additional services include metal recycling for various suppliers encompassing large corporations, industrial manufacturers, retail customers, and government organizations.

## Financial Health
- **Business Risk**: The company has a limited history and has not historically operated profitably. For instance:
  - It has been subject to concerns about its ability to continue as a going concern due to historical operating losses.
  - Experienced financial instability affected by fluctuating scrap metal prices and economic cycles. 

**Note**: Specific revenue figures, net income, or profit margins were not provided in the text. Further financial disclosures would be necessary for accurate revenue and income figures.

Greenwave Technology Solutions, Inc.

10-K / April 30, 2025

10-K / April 16, 2024

10-K / April 30, 2025

Greenwave Technology Solutions, Inc. - Company Summary

Overview

Business Activities

Corporate Details

Governance