Segment Information

3 Months Ended

Mar. 31, 2015

Segment Information:

Segment Information

Note 18 – Segment Information  

The Company is operating an acquisition and investment business.  Majority owned subsidiaries of 51% or more are consolidated.  The Company has determined that beginning in January 2014 there are two reportable segments, which are 1) the cannabis and medical marijuana segment which includes the receivable from Bhang of $1,500,000, the convertible note receivable from Electrum Partners and the operation of MCB, a subsidiary in the Cannabis and medical marijuana sector, and 2) the Company’s legacy investment in WCI which works with business park owners, governmental centers, and apartment complexes to reduce their trash related operating costs.  The Company also has certain small cancer related legacy investments and an $117,000 investment in note receivable from a non-affiliated party that is included in Corporate below.  

		Cannabis and Medical Marijuana Segment		Legacy Investment		Corporate and Eliminations		Consolidated
Three months ended March 2015
Net sales	$	-	$	573 850	$	-	$	573,850
Income (loss) from operations		-		55 462		(245,316)		(183,317)
Total assets		1,626,740		1,114,834		1,140,954		3,882,528
Interest expense		-		4,774		(774)		4,000
Depreciation and amortization		-		6,810		683		7,493
Three months ended March 2014
Net sales	$	-	$	490,808	$	-	$	490,808
Income (loss) from operations		(21,551)		68,035		(136,953)		(90,469)
Total assets		1,600,927		1,122,564		1,270,899		3,994,390
Interest expense		-		4,093		397		4,490
Depreciation and amortization		-		6,091		3,369		9,460

The following table reconciles operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes, as presented in the unaudited condensed consolidated income statements:

		Three months ended March 31
		2015		2014
Operating income (loss)	$	(183,317)	$	(90,469)
Gain recognized on purchase of majority interest in WCI		-		1,250,000
Interest income		2,389		-
Interest expense		(4,000)		(4,490)
Gain on investments		1,339		1,377
Other income		-		75
Income before income taxes	$	(183,589)	$	1,156,493