Business Segment Information

3 Months Ended

Mar. 31, 2012

Business Segment Information [Abstract]

Business Segment Information

3. Business Segment Information

The Company has two reportable segments as identified by information reviewed by the Company's chief operating decision makers (CODM) and is comprised of our CEO and SVP Finance of Dreams, Inc. The divisions whose customers are reseller's of our goods have their results reflected in the manufacturing/distribution segment. The retail segment is made up of many locations for our inventory. Revenues are achieved by moving inventory through our sales channels to reach and expand our customer base. These channels include the Internet, stores and our catalogues. Hence, customers who are the end users of our goods have their results reflected in our retail segment.

The Manufacturing/Distribution segment represents the manufacturing and wholesaling of sports memorabilia products and acrylic display cases. Sales are handled primarily through in-house salespersons that sell to specialty retailers and other distributors in the United States. The Company's manufacturing and distributing facilities are located in the United States. The majority of the Company's products are manufactured in these facilities.

The Retail Operations segment is multi-channel and features numerous Internet sites, catalogues, kiosks, and some traditional brick and mortar stores:

Internet

The Company's e-commerce components feature FansEdge.com and ProSportsMemorabilia.com along with a complement of syndicated web sites including, but not limited to: www.shop.Bulls.com, www.jcp.com, and www.philadelphiaeagles.com. These e-commerce retail sites sell a diversified selection of sports licensed products and autographed memorabilia on the web. These e-commerce operations have provided for the fastest growing area of our retail segment.

Catalogues

The Company publishes and distributes a FansEdge catalogue, a Baseball Hall of Fame catalogue and a Philadelphia Eagles catalogue two times a year.

Brick and Mortar

As of March 31, 2012, the Company owned and operated five (5) Field of Dreams^® stores offering a selection of sports & entertainment memorabilia and collectibles and ten (10) FansEdge stores offering an array of sports licensed products. The Company has multiple stores in the Chicago and Las Vegas markets.

All of the Company's revenue generated during the three months ended March 31, 2012 and March 31, 2011, was derived in the United States and all of the Company's assets are located in the United States.

Summarized financial information concerning the Company's reportable segments is shown in the following tables. Corporate related items, results of insignificant operations and income and expenses not allocated to reportable segments are included in the reconciliations to consolidated results table.

Segment information for the three month periods ended March 31, 2012 and March 31, 2011 was as follows:

Three Months Ended:	Manufacturing/ Distribution			Retail Operations			Total
March 31, 2012
Net sales	$	3,562		$	26,697		$	30,259
Intersegment net sales		(811	)		—			(811	)
Operating (loss) / income		(106	)		156			50
Total assets	$	18,988		$	54,065		$	73,053
March 31, 2011
Net sales	$	4,496		$	20,224		$	24,720
Intersegment net sales		(1,217	)		0			(1,217	)
Operating (loss)		(168	)		(542	)		(710	)
Total assets	$	18,521		$	37,615		$	56,136

Reconciliation to consolidated amounts is as follows:

	Three-Months Ended
	3/31/12			3/31/11
Revenues:
Total revenues for reportable segment	$	30,259		$	24,720
Other revenues		74			28
Eliminations of intersegment		(811	)		(1,217	)
Total consolidated revenues	$	29,522		$	23,531
Pre-tax (loss):
Total operating income / (loss) for reportable segments		50			(710	)
Other (loss)*		(966	)		(1,294	)
Less: Interest expense		177			124
Total consolidated (loss) before taxes	$	(1,093	)	$	(2,128	)

* These are "unallocated" costs and expenses that have not been allocated to the reportable segments. Some examples of these unallocated overhead costs which are consistent with the Company's internal accounting policies are executive salaries and benefits; corporate office occupancy costs; listing exchange fees, Board of Director and Committee meeting expenses, certain accounting/human resource support, professional fees, bank charges, certain insurance policy premiums, public relations/investor relations expenses.