| Summarized financial information |
Summarized financial information concerning
the Company's reportable segments is shown in the following tables. Total asset amounts at December 31, 2015 and 2014 exclude intercompany
receivable balances eliminated in consolidation.
| |
|
12 Months Ended December 31, 2015 |
|
| |
|
Hydroponic |
|
|
Cannabis |
|
|
Eliminations |
|
|
|
|
| |
|
Produce |
|
|
Products |
|
|
and Other |
|
|
Total |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenues |
|
$ |
8,633,538 |
|
|
$ |
1,207,424 |
|
|
$ |
134,384 |
|
|
$ |
9,975,346 |
|
| Cost of Goods Sold |
|
|
7,771,039 |
|
|
|
1,078,852 |
|
|
|
108,584 |
|
|
|
8,958,475 |
|
| |
|
|
862,499 |
|
|
|
128,572 |
|
|
|
25,800 |
|
|
|
1,016,871 |
|
| Selling, general and administrative expenses |
|
|
1,910,375 |
|
|
|
763,728 |
|
|
|
7,159,543 |
|
|
|
9,833,646 |
|
| Loss from operations |
|
|
(1,047,876 |
) |
|
|
(635,156 |
) |
|
|
(7,133,743 |
) |
|
|
(8,816,775 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of debt discount |
|
|
- |
|
|
|
- |
|
|
|
(696,180 |
) |
|
|
(696,180 |
) |
| Loss on extinguishment of debt |
|
|
- |
|
|
|
- |
|
|
|
(619,444 |
) |
|
|
(619,444 |
) |
| Loss from derivatives issued with debt greater than debt carrying value |
|
|
- |
|
|
|
- |
|
|
|
(561,000 |
) |
|
|
(561,000 |
) |
| Gain (Loss) on fair market valuation of derivatives |
|
|
- |
|
|
|
- |
|
|
|
1,800,100 |
|
|
|
1,800,100 |
|
| Interest Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(469,576 |
) |
|
|
(469,576 |
) |
| Total Other Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(546,100 |
) |
|
|
(546,100 |
) |
| Loss before Provision of Income Taxes |
|
$ |
(1,047,876 |
) |
|
$ |
(635,156 |
) |
|
$ |
(7,679,843 |
) |
|
$ |
(9,362,875 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets at December 31, 2015 |
|
$ |
5,383,659 |
|
|
$ |
1,671,966 |
|
|
$ |
2,109,414 |
|
|
$ |
9,165,039 |
|
| |
|
12 Months Ended December 31, 2014 |
|
| |
|
Hydroponic |
|
|
Cannabis |
|
|
Eliminations |
|
|
|
|
| |
|
Produce |
|
|
Products |
|
|
and Other |
|
|
Total |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Revenues |
|
$ |
6,627,109 |
|
|
$ |
- |
|
|
$ |
467,161 |
|
|
$ |
7,094,270 |
|
| Cost of Goods Sold |
|
|
6,667,967 |
|
|
|
- |
|
|
|
273,311 |
|
|
|
6,941,278 |
|
| |
|
|
(40,858 |
) |
|
|
- |
|
|
|
193,850 |
|
|
|
152,992 |
|
| Selling, general and administrative expenses |
|
|
1,506,684 |
|
|
|
1,115,577 |
|
|
|
15,718,986 |
|
|
|
18,341,247 |
|
| Loss from operations |
|
|
(1,547,542 |
) |
|
|
(1,115,577 |
) |
|
|
(15,525,136 |
) |
|
|
(18,188,255 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from derivatives issued with debt greater than debt carrying value |
|
|
- |
|
|
|
- |
|
|
|
(4,808,000 |
) |
|
|
(4,808,000 |
) |
| Gain (Loss) on fair market valuation of derivatives |
|
|
- |
|
|
|
- |
|
|
|
1,912,037 |
|
|
|
1,912,037 |
|
| Interest Income (Expense) |
|
|
2,232 |
|
|
|
- |
|
|
|
(1,098,556 |
) |
|
|
(1,096,324 |
) |
| Total Other Income (Expense) |
|
|
2,232 |
|
|
|
- |
|
|
|
(3,994,519 |
) |
|
|
(3,992,287 |
) |
| Loss before Provision of Income Taxes |
|
$ |
(1,545,310 |
) |
|
$ |
(1,115,577 |
) |
|
$ |
(19,519,655 |
) |
|
$ |
(22,180,542 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets at December 31, 2014 |
|
$ |
5,956,861 |
|
|
$ |
858,180 |
|
|
$ |
904,185 |
|
|
$ |
7,719,226 |
|
|