NOTE 12 - SEGMENT REPORTING

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

NOTE 12 - SEGMENT REPORTING

NOTE 12– SEGMENT REPORTING:

The Company follows paragraph 280 of the FASB Accounting Standards Codification for disclosures about segment reporting. This statement requires companies to report information about operating segments in interim and annual financial statements. It also requires segment disclosures about products and services, geographic areas, and major customers.

The Company has two reportable operating segments as determined by management using the “management approach” as defined by the authoritative guidance on Disclosures about Segments of an Enterprise and Related Information:  Corporate administration costs, which include, but are not limited to, general accounting, human resources, legal and credit and collections, are partially allocated to the two operating segments.  

Summarized in the following tables are net sales and operating revenues, depreciation and amortization expense, income from continuing operations before taxes, capital expenditures and assets for the Company's reportable segments as of and for the fiscal years ended December 31, 2016 and December 31, 2015:

	Fiscal Year Ended
	December 31,			December 31,
	2016			2015
Revenues:
Worlds Online	$	618		$	798
MariMed		3,563,502			1,326,003
Consolidated revenues	$	3,564,120		$	1,270,176
Depreciation and amortization:
Worlds Online	$	—		$	—
MariMed		265,746			1,206,003
Depreciation and amortization	$	265,746		$	1,206,003
Income/(Loss) before taxes
Worlds Online	$	(589,823	)	$	(600,378	)
MariMed		910,988			(1,246,525	)
Income/(Loss) before taxes	$	321,165		$	(1,846,903	)
Capital Expenditures:
Worlds Online	$	—		$	—
MariMed		3,364,070			3,048,776
Combined capital expenditures	$	3,364,070		$	3,048,776
Assets:
Worlds Online	$	709		$	40,935
MariMed		8,562,392			3,676,798
Combined assets	$	8,563,101		$	3,717,733