Annual report pursuant to Section 13 and 15(d)

Schedule of operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes (Tables)

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Schedule of operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Schedule of operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes  
Schedule of operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes

The following table reconciles operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes for the years ended December 31, 2015 and 2014, as presented in the consolidated income statements:

 

 

 

2015

 

2014

Operating loss

$

(772,213)

$

(1,086,198)

Gain recognized on purchase of majority interest in WCI

 

-

 

1,250,000

Decrease in fair value of convertible securities liability

 

589,611

 

-

Interest income

 

75,050

 

35,648

Interest expense

 

(15,632)

 

(20,836)

Goodwill impairment

 

(466,765)

 

-

Loan costs

 

-

 

(635,851)

Realized gain (loss) on investments

 

(131,458)

 

(7,181)

Gain on conversion of investment in MicroCannaBiz to note receivable

 

35,360

 

-

Loss on impairment of MicroCannaBiz note receivable and accrued interest

 

(76,010)

 

-

Gain (loss) on equipment disposals

 

-

 

(873)

Other income

 

424

 

165

 Income before income taxes

$

(761,632)

$

(465,126)