| Segment Information |
Note 21 – Segment Information The Company is operating an acquisition and investment business. Majority owned subsidiaries of 51% or more are consolidated. The Company has determined that there are two reportable segments; 1) the cannabis and medical marijuana segment which includes the receivable from Bhang of $1,500,000, the convertible note receivable and accrued interest from Electrum, and the operation of subsidiaries in the Cannabis and medical marijuana sector, and 2) the Company’s legacy investment in WCI which works with business park owners, governmental centers, and apartment complexes to reduce their trash related operating costs. The Company also has certain small cancer related legacy investments and an investment in note receivable from a non-affiliated party that is included in the Corporate and Eliminations section below. |
| Cannabis and Medical Marijuana Segment
| | Trash Management
| | Corporate and Eliminations
| | Consolidated
|
| Three months ended June 30, 2016
|
| | | | | | | |
| Net sales
| $
| -
| $
| 667,720
| $
| -
| $
| 667,720
|
| Income from operations
|
| (45,186)
| | 14,874
| | (280,584)
| | (310,896)
|
| Interest income
|
| 2,694
| | -
| | 31,925
| | 34,619
|
| Interest expense
|
| -
| | 4,316
| | 6,051
| | 10,367
|
| Property additions
|
| -
| | 20,242
| | -
| | 20,242
|
| Depreciation and amortization
|
| -
| | 6,471
| | 871
| | 7,342
|
|
| | | | | | | |
| Three months ended June 30, 2015
|
| | | | | | | |
| Net sales
|
| 30,308
| | 598,078
| | -
| | 628,386
|
| Income from operations
|
| (7,155)
| | 18,588
| | (205,554)
| | (194,121)
|
| Interest income
|
| 1,319
| | -
| | 16,790
| | 18,109
|
| Interest expense
|
| 338
| | 5,004
| | (1,472)
| | 3,870
|
| Property additions
|
| 4,378
| | 2,346
| | 6,036
| | 12,760
|
| Depreciation and amortization
|
| 444
| | 6,810
| | 684
| | 7,938
|
|
| | | | | | | |
| Six months ended June 30, 2016
|
| | | | | | | |
| Net sales
|
| 450
| | 1,310,563
| | -
| | 1,311,013
|
| Income from operations
|
| (49,945)
| | 47,934
| | (490,382)
| | (492,393)
|
| Interest income
|
| 5,389
| | -
| | 56,477
| | 61,866
|
| Interest expense
|
| -
| | 8,432
| | 13,803
| | 22,235
|
| Total assets
|
| 1,606,874
| | 1,123,451
| | 1,518,328
| | 4,248,653
|
| Property additions
|
| -
| | 25,509
| | 1,029
| | 26,538
|
| Depreciation and amortization
| $
| 295
| $
| 11,286
| $
| 1,699
| $
| 13,280
|
|
| Cannabis and Medical Marijuana Segment
| | Trash Management
| | Corporate and Eliminations
| | Consolidated
|
| Six months ended June 30, 2015
|
| | | | | | | |
| Net sales
| $
| 30,308
| $
| 1,171,928
| $
| -
| $
| 1,202,236
|
| Income from operations
|
| (7,155)
| | 80,586
| | (460,868)
| | (387,437)
|
| Interest income
|
| 1,494
| | -
| | 19,193
| | 20,687
|
| Interest expense
|
| 338
| | 9,778
| | (2,057)
| | 8,059
|
| Total assets
|
| 2,194,878
| | 1,097,137
| | 1,730,484
| | 5,022,499
|
| Property additions
|
| 4,378
| | 2,346
| | 6,036
| | 12,760
|
| Depreciation and amortization
| $
| 444
| $
| 13,620
| $
| 1,367
| $
| 15,431
|
The following table reconciles operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes, as presented in the unaudited condensed consolidated income statements: |
| Three Months Ended June 30,
| | Six Months Ended June 30,
|
|
| 2016
| | 2015
| | 2016
| | 2015
|
| Operating loss
| $
| (310,896)
| $
| (194,121)
| $
| (492,393)
| $
| (387,437)
|
| Interest income
|
| 34,619
| | 18,109
| | 61,866
| | 20,687
|
| Interest expense
|
| (10,367)
| | (3,870)
| | (22,235)
| | (8,059)
|
| Gain (loss) on investments
|
| -
| | (3,977)
| | (22,289)
| | (2,639)
|
| Gain on conversion of investment in MicroCannaBiz to note receivable
|
| -
| | 35,360
| | -
| | 35,360
|
| Other expense
|
| 605
| | -
| | (133)
| | -
|
|
| | | | | | | |
| Income before income taxes
| $
| (286,039)
| $
| (148,499)
| $
| (475,184)
| $
| (342,088)
|
|