Components of Segment Reporting |
Financial information relating to the reportable operating segments
for the three and nine months ended September 30, 2013 and
2012 is presented below:
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Three Months Ended September
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Nine Months Ended September
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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 and fixtures
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$ |
4,446,974 |
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$ |
117,519 |
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$ |
16,413,195 |
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$ |
577,389 |
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LED signage and lighting strips
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866,512 |
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1,132,996 |
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2,568,854 |
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2,874,678 |
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Total revenues from external customers
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$ |
5,313,486 |
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$ |
1,250,515 |
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$ |
18,982,195 |
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$ |
3,452,067 |
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Segment (loss) income:
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LED replacement lamps and fixtures
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$ |
(1,554,003 |
) |
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$ |
(161,487 |
) |
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$ |
(1,885,966 |
) |
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$ |
(5,631,881 |
) |
LED signage and lighting strips
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10,801 |
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46,424 |
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(82,133 |
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(103,694 |
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Segment (loss) income
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(1,543,202 |
) |
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(115,063 |
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(1,968,099 |
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(5,735,575 |
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Unallocated amounts:
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Corporate expenses
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(1,512,932 |
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(594,841 |
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(5,296,564 |
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(2,343,487 |
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Change in fair value of embedded derivative
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— |
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— |
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(6,990,353 |
) |
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— |
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Interest income
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— |
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17 |
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31 |
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107 |
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Interest expense
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(24,071 |
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(79,452 |
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(24,114 |
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(210,014 |
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Gain on debt restructuring
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— |
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1,048,308 |
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— |
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1,048,308 |
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Other income (expense)
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— |
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— |
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746,250 |
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— |
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Loss from continuing operations
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$ |
(3,080,205 |
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$ |
258,969 |
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$ |
(13,532,848 |
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$ |
(7,240,661 |
) |
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Depreciation and amortization:
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LED replacement lamps
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$ |
470,046 |
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$ |
385 |
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$ |
2,399,948 |
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$ |
110,911 |
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LED signage and lighting strips
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55,610 |
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57,592 |
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171,032 |
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178,533 |
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Segment depreciation and amortization
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525,657 |
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57,977 |
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2,570,980 |
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289,444 |
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Corporate depreciation and amortization
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6,401 |
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7,245 |
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17,275 |
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114,182 |
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Total depreciation and amortization
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$ |
532,058 |
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$ |
65,222 |
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$ |
2,588,255 |
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$ |
403,626 |
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Segment Aseets |
Segment assets on the dates indicated comprise the following:
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September 30, 2013 |
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December 31, 2012 |
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LED Replacement lamps and fixtures
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$ |
44,074,408 |
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$ |
24,548,886 |
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LED signage and lighting strips
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4,604,604 |
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4,736,657 |
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48,679,012 |
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29,285,543 |
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Elimination of intercompany receivables
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(4,881,219 |
) |
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(3,988,921 |
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Corporate assets, principally cash
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5,278,269 |
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5,980,464 |
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$ |
49,076,062 |
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$ |
31,277,086 |
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