| Note 22 - Segment Information |
Note 22 - Segment Information The Company is an operating, acquisition, and investment business. Subsidiaries in which the Company has a controlling financial interest are consolidated. The Company has determined that there are two reportable segments; 1) the cannabis and medical marijuana segment which includes the fair value of securities investments in GW Pharmaceuticals Plc. (GWPH), KushCo. Holdings, Inc. (KSHB), previously Kush Bottles, Inc., Generation Alpha, Inc. (GNAL), previously Solis Tek, Inc., and GB Sciences, Inc. (GBLX) stock, the cost basis of membership interests of Electrum, the contractual interest in the Electrum legal recovery, the fair value of convertible notes receivable and accrued interest from NeuCourt, the notes receivable from G Farma, the contractual interest in the G Farma legal recovery, the equity in G Farma Equity Entities, finance leases to G Farma and finance leases to Pueblo West, and the operation of subsidiaries in the cannabis and medical marijuana sector, and 2) the Companys legacy investment in WCI which works with business park owners, governmental centers, and apartment complexes to reduce their facility related operating costs. The Company also had a certain small cancer-related legacy investment until March 2018 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 | | Facility Operations Related | | Corporate and Eliminations | | Consolidated | | Three months ended September 30, 2019 | | | | | | | | | | Net revenue | $ | 13,312 | $ | 1,058,025 | $ | - | $ | 1,071,337 | | Operating income (loss) | | (38,426) | | 9,276 | | (280,397) | | (309,547) | | Interest income | | 996 | | 4 | | 20,541 | | 21,541 | | Interest expense | | - | | 7,214 | | (1,134) | | 6,080 | | Property additions | | - | | - | | - | | - | | Depreciation and amortization | | - | | 2,653 | | 2,932 | | 5,585 | | | | | | | | | | | | Three months ended September 30, 2018 | | | | | | | | | | Net revenue | $ | 101,408 | $ | 930,214 | $ | - | $ | 1,031,622 | | Operating income (loss) | | 32,257 | | 3,173 | | (238,527) | | (203,097) | | Interest income | | 18,850 | | 1 | | 22,727 | | 41,578 | | Interest expense | | - | | 4,713 | | (1,125) | | 3,588 | | Property additions | | - | | 13,484 | | 1,658 | | 15,142 | | Depreciation and amortization | | - | | 3,369 | | 2,059 | | 5,428 | | | | Cannabis and Medical Marijuana Segment | | Facility Operations Related | | Corporate and Eliminations | | Consolidated | | Nine months ended September 30, 2019 | | | | | | | | | | Net revenue | $ | 145,564 | $ | 3,031,519 | $ | - | $ | 3,177,083 | | Operating income (loss) | | (734,818) | | 67,162 | | (784,471) | | (1,452,127) | | Interest income | | 22,594 | | 10 | | 64,402 | | 87,006 | | Interest expense | | - | | 19,857 | | (3,402) | | 16,455 | | Property additions | | - | | 8,159 | | - | | 8,158 | | Depreciation and amortization | | - | | 7,959 | | 8,796 | | 16,755 | | Total assets | | 2,751,078 | | 1,662,764 | | 855,438 | | 5,269,279 | | | | | | | | | | | | Nine months ended September 30, 2018 | | | | | | | | | | Net revenue | $ | 598,539 | $ | 2,680,541 | $ | - | $ | 3,279,080 | | Operating income (loss) | | 151,566 | | 2,382 | | (761,932) | | (607,984) | | Interest income | | 62,759 | | 2 | | 61,403 | | 124,164 | | Interest expense | | 181 | | 14,704 | | (3,298) | | 11,587 | | Property additions | | - | | 13,484 | | 4,057 | | 17,541 | | Depreciation and amortization | | - | | 8,554 | | 5,530 | | 14,084 | | Total assets | | 4,270,527 | | 1,150,657 | | 2,736,576 | | 8,157,760 | 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 September 30, | | Nine Months Ended September 30, | | | | 2019 | | 2018 | | 2019 | | 2018 | | Operating loss | $ | (309,547) | $ | (203,097) | $ | (1,452,127) | $ | (607,984) | | Gain (loss) on investments | | (45,638) | | 237,657 | | (1,747,608) | | 355,854 | | Interest income | | 21,541 | | 41,578 | | 87,006 | | 124,164 | | Interest expense | | (6,080) | | (3,588) | | (16,455) | | (11,587) | | Gain on equipment disposals | | - | | - | | 1,500 | | - | | Other income | | - | | - | | 11,340 | | 2,380 | | | | | | | | | | | | Income (loss) before income taxes | $ | (339,724) | $ | 72,550 | $ | (3,116,344) | $ | (137,173) |
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