Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION (Tables)

v3.7.0.1
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2017
Segment Information Tables  
Summarized financial information

Summarized financial information concerning the Company’s reportable segments is shown in the following tables. Total assets at June 30, 2017 and 2016 exclude intercompany receivable balances eliminated in consolidation.

 

    For the Three Months Ended June 30, 2017  
    Herbs and Produce Products     Cannabis Dispensary, Cultivation and Production     Eliminations and Other     Total  
                         
Total Revenues   $ 1,777,067     $ 6,049,319     $ 16,487     $ 7,842,873  
Cost of Goods Sold     1,325,729       5,010,771       –       6,336,500  
                                 
Gross Profit     451,338       1,038,548       16,487       1,506,373  
                                 
Selling, General and Administrative Expenses     855,999       2,210,475       2,962,813       6,029,287  
                                 
Loss from Operations     (404,661 )     (1,171,927 )     (2,946,326 )     (4,522,914 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     –       –       (515,654 )     (515,654 )
Loss on Extinguishment of Debt     –       –       (1,639,137 )     (1,639,137 )
Gain on Fair Market Valuation of Derivatives     –       –       987,200       987,200  
Interest Expense     –       –       (130,510 )     (130,510 )
Loss on Fair Market Valuation of Contingent Consideration     –       (77,286 )     –       (77,286 )
Gain on Settlement of Contingent Consideration     –       4,991,571       –       4,991,571  
                                 
Total Other Income (Expense)     –       4,914,285       (1,298,101 )     3,616,184  
                                 
Loss Before Provision for Income Taxes   $ (404,661 )   $ 3,742,358     $ (4,244,427 )   $ (906,730 )
                                 
Total Assets at June 30, 2017   $ 7,104,469     $ 60,224,138     $ 9,550,062     $ 76,878,669  

 

    For the Three Months Ended June 30, 2016  
    Herbs and Produce Products     Cannabis Dispensary, Cultivation and Production     Eliminations and Other     Total  
                         
Total Revenues   $ 5,873,418     $ 3,768,977     $ 57,514     $ 9,699,909  
Cost of Goods Sold     5,517,052       2,596,035       39,848       8,152,935  
                                 
Gross Profit     356,366       1,172,942       17,666       1,546,974  
                                 
Selling, General and Administrative Expenses     756,405       1,649,452       2,958,494       5,364,351  
                                 
Loss from Operations     (400,039 )     (476,510 )     (2,940,828 )     (3,817,377 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     –       –       (218,126 )     (218,126 )
Loss from Derivatives Issued with Debt Greater than Debt Carrying Value     –       –       (488,000 )     (488,000 )
Loss on Fair Market Valuation of Derivatives     –       –       (206,000 )     (206,000 )
Interest Income (Expense)     –       250       (60,815 )     (60,565 )
                                 
Total Other Income (Expense)     –       250       (972,941 )     (972,691 )
                                 
Loss Before Provision for Income Taxes   $ (400,039 )   $ (476,260 )   $ (3,913,769 )   $ (4,790,068 )
                                 
Total Assets at June 30, 2016   $ 6,834,863     $ 57,142,755     $ 2,784,814     $ 66,762,432  

 

    For the Six Months Ended June 30, 2017  
    Herbs and Produce Products     Cannabis Dispensary, Cultivation and Production     Eliminations and Other     Total  
                         
Total Revenues   $ 2,694,210     $ 11,936,357     $ 36,762     $ 14,667,329  
Cost of Goods Sold     2,295,544       10,506,349       –       12,801,893  
                                 
Gross Profit     398,666       1,430,008       36,762       1,865,436  
                                 
Selling, General and Administrative Expenses     1,515,062       4,837,480       6,063,045       12,415,587  
                                 
Loss from Operations     (1,116,396 )     (3,407,472 )     (6,026,283 )     (10,550,151 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     –       –       (1,126,270 )     (1,126,270 )
Loss on Extinguishment of Debt     –       –       (2,678,595 )     (2,678,595 )
Gain on Fair Market Valuation of Derivatives     –       –       2,597,950       2,597,950  
Interest Expense     –       –       (288,343 )     (288,343 )
Loss on Fair Market Valuation of Contingent Consideration     –       (4,426,047 )     –       (4,426,047 )
Gain on Settlement of Contingent Consideration     –       4,991,571       –       4,991,571  
                                 
Total Other Income (Expense)     –       565,524       (1,495,258 )     (929,734 )
                                 
Loss Before Provision for Income Taxes   $ (1,116,396 )   $ (2,841,948 )   $ (7,521,541 )   $ (11,479,885 )
                                 
Total Assets at June 30, 2017   $ 7,104,469     $ 60,224,138     $ 9,550,062     $ 76,878,669  

 

    For the Six Months Ended June 30, 2016  
    Herbs and Produce Products     Cannabis Dispensary, Cultivation and Production     Eliminations and Other     Total  
                         
Total Revenues   $ 7,274,861     $ 3,899,180     $ 74,035     $ 11,248,076  
Cost of Goods Sold     6,837,431       2,809,296       39,848       9,686,575  
                                 
Gross Profit     437,430       1,089,884       34,187       1,561,501  
                                 
Selling, General and Administrative Expenses     1,155,610       1,851,588       4,284,054       7,291,252  
                                 
Loss from Operations     (718,180 )     (761,704 )     (4,249,867 )     (5,729,751 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     –       –       (312,532 )     (312,532 )
Loss on Extinguishment of Debt     –       –       (920,797 )     (920,797 )
Loss from Derivatives Issued with Debt Greater than Debt Carrying Value     –       –       (488,000 )     (488,000 )
Loss on Fair Market Valuation of Derivatives     –       –       (1,366,700 )     (1,366,700 )
Interest Income (Expense)     –       250       (116,810 )     (116,560 )
                                 
Total Other Income (Expense)     –       250       (3,204,839 )     (3,204,589 )
                                 
Loss Before Provision for Income Taxes   $ (718,180 )   $ (761,454 )   $ (7,454,706 )   $ (8,934,340 )
                                 
Total Assets at June 30, 2016   $ 6,834,863     $ 57,142,755     $ 2,784,814     $ 66,762,432