Avalon(AWX) - 2018 Q4 - Annual Report

Facilities and Operations - Avalon owns a 37,000 square foot headquarters building located on approximately 5.6 acres in Warren, Ohio, which includes various facilities for golf operations[93]. - The Avalon Resort and Spa LLC owns a 127,000 square foot hotel with an indoor junior Olympic size swimming pool and conference facilities[97]. - The Avalon Mahoning Sports Center, Inc. operates a 55,000 square foot tennis and athletic facility on approximately 3.5 acres in Youngstown, Ohio[98]. Financial Reporting and Controls - Avalon's management evaluated the effectiveness of their disclosure controls and procedures as of December 31, 2018, concluding they were effective at a reasonable assurance level[107]. - There were no unresolved comments from the U.S. Securities and Exchange Commission as of December 31, 2018[92]. - Avalon has implemented internal controls to evaluate contracts and assess the impact of new accounting standards related to revenue recognition[109]. - The company has adopted a Code of Ethics applicable to all employees, including principal officers[117]. - No changes in internal control over financial reporting were reported during the fourth fiscal quarter ended December 31, 2018[108]. - The financial statement schedule for the years ended December 31, 2018, and 2017 is included in the report[126]. - The financial statements and schedules are indexed in the report, providing detailed insights into the company's financial performance[138]. Financial Performance - Avalon Holdings Corporation reported a non-cash, pre-tax impairment charge in Q4 2018, reflecting the full carrying value of its salt water injection wells[138]. - The company received notice from the Supreme Court of Ohio regarding its appeal related to the restart of the AWMS Water Solutions, LLC 2 salt water injection well[137]. - The allowance for doubtful accounts increased from $237,000 in 2017 to $255,000 in 2018, reflecting a net addition of $42,000[142]. - The deferred tax asset valuation allowance rose from $1,313,000 in 2017 to $1,881,000 in 2018, with an addition of $568,000[142]. - Accounts receivable written-off as uncollectible remained stable, with a slight increase in the allowance for doubtful accounts[142]. Stock Transactions - Avalon sold 100 shares of its Class B Common Stock for an aggregate price of $298, based on the closing price of Class A Common Stock[101].