Segment Information

9 Months Ended

Sep. 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 September 30, 2021
Net revenue	$	9,972		$	1,482,649		$	-		$	1,492,624
Operating income (loss)		6,426			196,565			(116,664	)		86,327
Interest income		-			-			16,269			16,269
Interest expense		-			9,381			7,333			16,714
Property additions		-			92,013			1,264			93,277
Depreciation and amortization		-			13,570			1,461			15,031
Three months ended September 30, 2020
Net revenue	$	11,730		$	1,219,800		$	-		$	1,231,530
Operating income (loss)		4,516			(230,490	)		(189,005	)		(414,979	)
Interest income		8			-			24,960			24,968
Interest expense		-			9,517			(1,004	)		8,513
Property additions		-			6,490			2,581			9,071
Depreciation and amortization		-			3,892			2,038			5,930
Nine months ended September 30, 2021
Net revenue	$	31,176		$	4,154,711		$	-		$	4,185,887
Operating income (loss)		20,876			11,062			(417,644	)		(385,706	)
Interest income		-			-			49,003			49,003
Interest expense		-			27,421			(23,032	)		4,389
Property additions		-			107,290			1,264			108,554
Depreciation and amortization		-			29,923			4,382			34,305
Total assets		396,907			1,997,786			2,153,940			4,548,633
Nine months ended September 30, 2020
Net revenue	$	36,297		$	3,503,563		$	-		$	3,539,860
Operating income (loss)		(16,624	)		(174,878	)		(665,076	)		(856,578	)
Interest income		-			-			65,504			65,504
Interest expense		-			25,829			(3,132	)		22,697
Property additions		-			23,231			7,593			30,824
Depreciation and amortization		-			10,190			4,679			14,869
Total assets		2,095,569			1,955,675			702,561			4,753,805

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 September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Operating loss	$	86,327		$	(414,979	)	$	(385,706	)	$	(856,578	)
Gain (loss) on investments		(2,427	)		(2,758	)		(9,001	)		(8,676	)
Interest income		16,269			24,968			49,003			65,504
Interest expense		(16,714	)		(8,513	)		(43,899	)		(22,697	)
Gain on equipment disposals		(671	)		3,372			761			3,372
EIDL Advance		-			-			-			10,000
Other income		4,032			7,994			15,429			24,352
Income before income taxes	$	86,816		$	(389,916	)	$	(373,413	)	$	(784,723	)