Quarterly report pursuant to Section 13 or 15(d)

15. Segment Information

v3.19.3
15. Segment Information
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Segment Information

15. Segment Information

 

The Company has two identifiable segments as of September 30, 2019; (i) licensing and consulting, and (ii) products. The products segment sells merchandise directly to customers via e-commerce portals, through our proprietary websites and retail location. The licensing and consulting segment sales derives its revenue from licensing and consulting agreements with cannabis related entities.

 

The following information represents segment activity for the nine-month periods ended September 30, 2019 and 2018:

  

    For the Nine Months Ended September 30,  
    2019     2018  
    Products     Licensing and Consulting     Total     Products     Licensing and Consulting     Total  
                                     
Revenues   $ 7,441,031     $ 1,659,132     $ 9,100,163     $ 1,222,880     $ 6,078,363     $ 7,301,243  
Intangible assets amortization   $ 4,757     $ 398     $ 5,154     $ 4,490     $ 396     $ 4,886  
Depreciation   $ 5,100     $ 35,781     $ 40,881     $ 4,148     $ 52,127     $ 56,275  
Income (loss) from operations   $ 2,074,799     $ (13,571,303 )   $ (11,496,504 )   $ 1,179,028     $ 1,362,456     $ 2,541,484  
Segment assets   $ 8,803,431     $ 27,115,471     $ 35,918,902     $ 4,577,175     $ 16,430,245     $ 21,007,420