| Summarized financial information |
Summarized financial information concerning
the Company's reportable segments is shown in the following tables. Total asset amounts at March 31, 2016 and 2015 exclude intercompany
receivable balances eliminated in consolidation.
| |
|
3 Months Ended March 31, 2016 |
|
| |
|
Hydroponic |
|
|
Cannabis |
|
|
Eliminations |
|
|
|
|
| |
|
Produce |
|
|
Products |
|
|
and Other |
|
|
Total |
|
| Total Revenues |
|
$ |
1,401,443 |
|
|
$ |
130,203 |
|
|
$ |
16,521 |
|
|
$ |
1,548,167 |
|
| Cost of Goods Sold |
|
|
1,200,932 |
|
|
|
213,261 |
|
|
|
- |
|
|
|
1,414,193 |
|
| |
|
|
200,511 |
|
|
|
(83,058 |
) |
|
|
16,521 |
|
|
|
133,974 |
|
| Selling, general and administrative expenses |
|
|
518,652 |
|
|
|
202,136 |
|
|
|
1,325,560 |
|
|
|
2,046,348 |
|
| Loss from operations |
|
|
(318,141 |
) |
|
|
(285,194 |
) |
|
|
(1,309,039 |
) |
|
|
(1,912,374 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of debt discount |
|
|
- |
|
|
|
- |
|
|
|
(94,406 |
) |
|
|
(94,406 |
) |
| Loss on extinguishment of debt |
|
|
- |
|
|
|
- |
|
|
|
(920,797 |
) |
|
|
(920,797 |
) |
| Gain (Loss) on fair market valuation of derivatives |
|
|
- |
|
|
|
- |
|
|
|
(1,160,700 |
) |
|
|
(1,160,700 |
) |
| Interest Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(55,995 |
) |
|
|
(55,995 |
) |
| Total Other Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(2,231,898 |
) |
|
|
(2,231,898 |
) |
| Loss before Provision of Income Taxes |
|
$ |
(318,141 |
) |
|
$ |
(285,194 |
) |
|
$ |
(3,540,937 |
) |
|
$ |
(4,144,272 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets at March 31, 2016 |
|
$ |
6,667,866 |
|
|
$ |
2,734,868 |
|
|
$ |
2,750,386 |
|
|
$ |
12,153,120 |
|
| |
|
3 Months Ended March 31, 2015 |
|
| |
|
Hydroponic |
|
|
Cannabis |
|
|
Eliminations |
|
|
|
|
| |
|
Produce |
|
|
Products |
|
|
and Other |
|
|
Total |
|
| Total Revenues |
|
$ |
458,773 |
|
|
$ |
304,025 |
|
|
$ |
555 |
|
|
$ |
763,353 |
|
| Cost of Goods Sold |
|
|
288,093 |
|
|
|
257,319 |
|
|
|
- |
|
|
|
545,412 |
|
| |
|
|
170,680 |
|
|
|
46,706 |
|
|
|
555 |
|
|
|
217,941 |
|
| Selling, general and administrative expenses |
|
|
472,065 |
|
|
|
215,515 |
|
|
|
1,634,931 |
|
|
|
2,322,511 |
|
| Loss from operations |
|
|
(301,385 |
) |
|
|
(168,809 |
) |
|
|
(1,634,376 |
) |
|
|
(2,104,570 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of debt discount |
|
|
- |
|
|
|
- |
|
|
|
(41,126 |
) |
|
|
(41,126 |
) |
| Loss from derivatives issued with debt greater than debt carrying value |
|
|
- |
|
|
|
- |
|
|
|
(224,000 |
) |
|
|
(224,000 |
) |
| Gain (Loss) on fair market valuation of derivatives |
|
|
- |
|
|
|
- |
|
|
|
408,200 |
|
|
|
408,200 |
|
| Interest Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(188,529 |
) |
|
|
(188,529 |
) |
| Total Other Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(45,455 |
) |
|
|
(45,455 |
) |
| Loss before Provision of Income Taxes |
|
$ |
(301,385 |
) |
|
$ |
(168,809 |
) |
|
$ |
(1,679,831 |
) |
|
$ |
(2,150,025 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets at March 31, 2015 |
|
$ |
6,009,693 |
|
|
$ |
794,180 |
|
|
$ |
426,508 |
|
|
$ |
7,230,381 |
|
|