Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION (Tables)

v3.5.0.2
SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2016
Segment Information Tables  
Summarized financial information

Summarized financial information concerning the Company’s reportable segments is shown in the following tables. Total asset amounts at September 30, 2016 and 2015 exclude intercompany receivable balances eliminated in consolidation.

 

    Three Months Ended September 30, 2016  
    Hydroponic     Cannabis     Eliminations        
    Produce     Products     and Other     Total  
Total Revenues   $ 2,138,260     $ 4,769,912     $ 42,193     $ 6,950,365  
Cost of Goods Sold     1,857,783       3,747,841       25,355       5,630,979  
Gross Margin     280,477       1,022,071       16,838       1,319,386  
Selling, general and administrative expenses     705,751       1,920,468       3,379,727       6,005,946  
Loss from operations     (425,274 )     (898,397 )     (3,362,889 )     (4,686,560 )
                                 
Other Income (Expenses)                                
Amortization of debt discount     -       -       (610,089 )     (610,089 )
Loss on extinguishment of debt     -       -       -       -  
Loss from derivatives issued with debt greater than debt carrying value     -       -       (867,000 )     (867,000 )
Gain (Loss) on fair market valuation of derivatives     -       -       771,000       771,000  
Interest Income (Expense)     -       (250 )     (159,383 )     (159,633 )
Total Other Income (Expense)     -       (250 )     (865,472 )     (865,722 )
Loss before Provision of Income Taxes   $ (425,274 )   $ (898,647 )   $ (4,228,361 )   $ (5,552,282 )

 

    Three Months Ended September 30, 2015  
    Hydroponic     Cannabis     Eliminations        
    Produce     Products     and Other     Total  
Total Revenues   $ 1,597,378     $ 420,973     $ -     $ 2,018,351  
Cost of Goods Sold     1,370,804       290,256       (12,515 )     1,648,545  
Gross Margin     226,574       130,717       12,515       369,806  
Selling, general and administrative expenses     441,177       164,970       1,493,167       2,099,314  
Loss from operations     (214,603 )     (34,253 )     (1,480,652 )     (1,729,508 )
                                 
Other Income (Expenses)                                
Amortization of debt discount     -       -       (258,306 )     (258,306 )
Loss on extinguishment of debt     -       -       (263,950 )     (263,950 )
Loss from derivatives issued with debt greater than debt carrying value     -       -       -       -  
Gain (Loss) on fair market valuation of derivatives     -       -       372,400       372,400  
Interest Income (Expense)     -       -       (108,563 )     (108,563 )
Total Other Income (Expense)     -       -       (258,419 )     (258,419 )
Loss before Provision of Income Taxes   $ (214,603 )   $ (34,253 )   $ (1,739,071 )   $ (1,987,927 )

 

    Nine Months Ended September 30, 2016  
    Hydroponic     Cannabis     Eliminations        
    Produce     Products     and Other     Total  
Total Revenues   $ 9,413,121     $ 8,669,092     $ 116,228     $ 18,198,441  
Cost of Goods Sold     8,472,797       6,557,137       65,203       15,095,137  
Gross Margin     940,324       2,111,955       51,025       3,103,304  
Selling, general and administrative expenses     2,083,778       3,772,056       7,663,781       13,519,615  
Loss from operations     (1,143,454 )     (1,660,101 )     (7,612,756 )     (10,416,311 )
                                 
Other Income (Expenses)                                
Amortization of debt discount     -       -       (922,621 )     (922,621 )
Loss on extinguishment of debt     -       -       (920,797 )     (920,797 )
Loss from derivatives issued with debt greater than debt carrying value     -       -       (1,355,000 )     (1,355,000 )
Gain (Loss) on fair market valuation of derivatives     -       -       (595,700 )     (595,700 )
Interest Income (Expense)     -       -       (276,193 )     (276,193 )
Total Other Income (Expense)     -       -       (4,070,311 )     (4,070,311 )
Loss before Provision of Income Taxes   $ (1,143,454 )   $ (1,660,101 )   $ (11,683,067 )   $ (14,486,622 )
                                 
Total assets at September 30, 2016   $ 6,725,967     $ 2,390,233     $ 60,849,033     $ 69,965,233  

 

    Nine Months Ended September 30, 2015  
    Hydroponic     Cannabis     Eliminations        
    Produce     Products     and Other     Total  
Total Revenues   $ 6,832,805     $ 852,745     $ 120,444     $ 7,805,994  
Cost of Goods Sold     6,266,858       569,417       108,584       6,944,859  
Gross Margin     565,947       283,328       11,860       861,135  
Selling, general and administrative expenses     1,373,976       721,104       5,697,365       7,792,445  
Loss from operations     (808,029 )     (437,776 )     (5,685,505 )     (6,931,310 )
                                 
Other Income (Expenses)                                
Amortization of debt discount     -       -       (524,161 )     (524,161 )
Loss on extinguishment of debt     -       -       (263,950 )     (263,950 )
Loss from derivatives issued with debt greater than debt carrying value     -       -       (561,000 )     (561,000 )
Gain (Loss) on fair market valuation of derivatives     -       -       1,779,600       1,779,600  
Interest Income (Expense)     -       -       (426,793 )     (426,793 )
Total Other Income (Expense)     -       -       3,696       3,696  
Loss before Provision of Income Taxes   $ (808,029 )   $ (437,776 )   $ (5,681,809 )   $ (6,927,614 )
                                 
Total assets at September 30, 2015   $ 5,645,677     $ 1,105,796     $ 1,887,156     $ 8,638,629