Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

Note 19 – Segment Information

The Company is an operating, acquisition, and investment business. Subsidiaries in which the Company has a controlling financial interest are consolidated. The Company generally has two reportable segments; 1) the cannabis and medical marijuana segment, which includes the cost basis of membership interests of Electrum, the contractual interest in the Electrum legal recovery, and the operation of subsidiaries in the cannabis and medical marijuana sector; and 2) the Company’s long standing investment in WCI which works with business park owners, governmental centers, and apartment complexes to reduce their facility-related operating costs. The Company also had small investments in securities listed on the NYSE and NASDAQ, an investment in note receivable from a non-affiliated party, the fair value of convertible notes receivable and accrued interest from NeuCourt, and the investment in NeuCourt that is included in the Corporate, Other, and Eliminations section below. The NeuCourt investments were previously reported as an investment that would be useful in the cannabis space; however, NeuCourt has determined that its legal services would likely be more useful to users outside of the cannabis space. Prior period segment information presented below contains reclassification of NeuCourt investments from the cannabis and medical marijuana segment to the Corporate, other, and eliminations segment.

	Cannabis and Medical Marijuana Segment			Facility Operations Related			Corporate and Eliminations			Consolidated
Three months ended June 30, 2021
Net revenue	$	10,330		$	1,362,308		$	-		$	1,372,638
Operating income (loss)		8324			(181,557	)		(134,057	)		(307,290	)
Interest income		-			-			16,245			16,245
Interest expense		-			9,831			5,733			15,114
Property additions		-			7,416			1,264			8,680
Depreciation and amortization		-			8,393			1,461			9,854
Three months ended June 30, 2020
Net revenue	$	12,028		$	1,146,839		$	-		$	1,158,867
Operating income (loss)		(12,235	)		21,436			(214,076	)		(204,875	)
Interest income		681			-			20,452			21,133
Interest expense		-			6,706			140			6,846
Property additions		-			13,412			5,012			18,424
Depreciation and amortization		-			3,658			1,439			5,097
Six months ended June 30, 2021
Net revenue	$	21,200		$	2,672,147		$	-		$	2,693,262
Operating income (loss)		14,450			(185,503	)		(300,982	)		(472,035	)
Interest income		-			-			32,735			32,735
Interest expense		-			17,879			9,306			27,185
Property additions		-			10,235			1,264			16,539
Depreciation and amortization		-			16,353			2,921			19,274
Total assets		394,926			1,944,190			2,188,586			4,527,702
Six months ended June 30, 2020
Net revenue	$	24,567		$	2,283,763		$	-		$	2,308,330
Operating income (loss)		(21,140	)		57,886			(478,345	)		(441,599	)
Interest income		1,924			-			38,613			40,537
Interest expense		-			14,044			140			14,184
Property additions		-			16,741			5,012			21,753
Depreciation and amortization		-			6,298			2,641			8,939
Total assets		2,337,447			1,978,746			614,409			4,935,601

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 June 30,						Six Months Ended  June 30
	2021			2020			2021			2020
Operating loss	$	(307,290	)	$	(204,875	)	$	(472,035	)	$	(441,599	)
Gain (loss) on investments		(11,423	)		4,288			(6,574	)		(5,919	)
Interest income		16,245			21,133			32,735			40,537
Interest expense		(15,114	)		(6,846	)		(27,185	)		(14,184	)
Gain on equipment disposals		2,074			-			1,432			-
EIDL Advance		-			10,000			10,000			10,000
Other income		2,450			4,272			1,398			16,358
Income before income taxes	$	(313,058	)	$	(172,028	)	$	(460,229	)	$	(394,807	)