15. Segment Information

6 Months Ended

Jun. 30, 2013

Segment Information

NOTE 15 - Segment Information

In 2012 and through June 30, 2013, ProElite, Stratus White and other events were considered operating segments pursuant to ASC Topic 280 “Segment Reporting” since each was budgeted separately and tracked separately to provide the chief operating decision maker information to assess and manage ProElite, Stratus White and other events.

The characteristics of the Stratus Reward program and ProElite were different than the other events, so that operating segment was considered a reporting segment. The events share similar economic characteristics and were aggregated into a reporting segment pursuant to paragraph 17 of ASC Topic 280. All of the events provide entertainment and the logistics and production processes and methods for each event were similar: sponsorship sales, ticket and concession sales, security, stages, public address systems and the like. While the demographic characteristics of the audience could vary by event, all events catered to consumer entertainment. Subsequent to December 31, 2012, the Company decided to suspend all business activities other than ProElite and effective June 30, 2013, the Company decided to suspend its ProElite business.

A summary of results by segments was as follows:

	As of/for the Six Months Ended June 30, 2013														As of/for the Six Months Ended June 30, 2012
		Stratus						Other								Stratus						Other
		Rewards			ProElite			Events		Other			Total			Rewards			ProElite			Events		Other			Total
Revenues	$	–		$	72		$	–	$	–		$	72		$	–		$	231		$	–	$	–		$	231
Cost of sales		–			–			–		–			–			–			235			–		–			235
Gross margin		–			72			–		–			72			–			(4	)		–		–			(4	)
Deprec. & Amort		–			–			–		17			17			–			–			–		20			20
Segment profit		–			72			–		(17	)		55			–			(4	)		–		(20	)		(24	)
Operating expenses		85			129			–		10,259			10,473			175			578			–		4,018			4,771
Other expenses		–			8			–		107			115			–			38			–		775			813
Impact of derivative securities		–			–			–		(10,390	)		(10,390	)		–			–			–		15,868			15,868
Net loss		(85	)		(65	)		–		7			(143	)		(175	)		(620	)		–		(20,681	)		(21,476	)
Net loss attributable to non-controlling interests										14			14											25			25
Preferred dividends										172			172											246			246
Net loss attributable to common shareholders	$	(85	)	$	(65	)	$	–	$	(151	)	$	(301	)	$	(175	)	$	(620	)	$	–	$	(20,902	)	$	(21,697	)
Assets	$	–		$	26		$	–	$	172		$	197		$	1,073		$	1,924		$	–	$	712		$	3,709
Liabilities	$	122		$	1,517		$	–	$	7,128		$	8,767		$	200		$	2,085		$	–	$	29,472		$	31,757