Segment Reporting |
The
Company’s operations are principally managed on a product
basis and are comprised of two reportable segments for financial
reporting purposes: LED replacement lamps and fixtures and LED
signage and lighting strips.
Financial
information relating to the reportable operating segments for the
three and six months ended June 30, 2013 and 2012 is presented
below:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2013 |
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2012 |
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2013 |
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2012 |
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Revenues from external
customers:
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LED replacement
lamps
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$ |
6,505,097 |
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$ |
169,724 |
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$ |
11,966,366 |
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$ |
459,870 |
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LED signage and lighting
strips
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852,210 |
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883,581 |
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1,702,342 |
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1,741,682 |
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Total revenues from
external customers
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$ |
7,357,307 |
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$ |
1,053,305 |
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$ |
13,668,709 |
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$ |
2,201,552 |
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Segment (loss)
income:
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LED replacement
lamps
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$ |
353,749 |
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$ |
(4,848,361 |
) |
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$ |
414,245 |
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$ |
(5,470,393 |
) |
LED signage and lighting
strips
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(22,491 |
) |
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(55,435 |
) |
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(92,934 |
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(150,119 |
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Segment (loss)
income
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331,258 |
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(4,903,796 |
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321,311 |
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(5,620,512 |
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Unallocated
amounts:
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Corporate
expenses
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(1,644,547 |
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(741,004 |
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(3,783,631 |
) |
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(1,748,646 |
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Change in fair value of
embedded derivative
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(3,821,270 |
) |
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— |
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(6,990,353 |
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— |
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Other income
(expense)
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— |
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(83,644 |
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31 |
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(130,472 |
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Loss from continuing
operations
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$ |
(5,134,559 |
) |
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$ |
(5,728,444 |
) |
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$ |
(10,452,641 |
) |
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$ |
(7,499,630 |
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Depreciation and
amortization:
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LED replacement
lamps
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$ |
1,005,456 |
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$ |
55,652 |
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$ |
1,929,902 |
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$ |
110,526 |
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LED signage and lighting
strips
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56,866 |
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58,478 |
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115,421 |
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120,942 |
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Segment depreciation and
amortization
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1,062,322 |
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114,130 |
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2,045,323 |
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231,468 |
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Corporate depreciation
and amortization
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5,446 |
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27,571 |
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10,874 |
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106,936 |
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Total depreciation and
amortization
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$ |
1,067,768 |
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$ |
141,701 |
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$ |
2,056,197 |
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$ |
338,404 |
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