| Schedule of Segment Reporting |
The Company’s operations during the three
months ended March 31, 2016 and 2015 are classified into two reportable business segments: Lifestyle and Agriculture. Each of these
segments is organized based upon the nature of products and services offered. Summarized financial information about each segment
is provided below:
| Three Months Ended March 31, 2016 |
|
Corporate |
|
|
Lifestyle |
|
|
Agriculture |
|
|
Total |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Assets |
|
$ |
713,111 |
|
|
$ |
236,862 |
|
|
$ |
5,317,726 |
|
|
$ |
6,267,699 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
— |
|
|
$ |
55,563 |
|
|
$ |
894,239 |
|
|
$ |
949,802 |
|
| Costs of sales |
|
|
— |
|
|
|
34,684 |
|
|
|
71,701 |
|
|
|
106,385 |
|
| Depreciation/amortization expense |
|
|
833 |
|
|
|
— |
|
|
|
801 |
|
|
|
1,634 |
|
| Operating expenses - other |
|
|
714,894 |
|
|
|
43,790 |
|
|
|
365,142 |
|
|
|
1,123,826 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gain on extinguishment of debt |
|
|
2,551,613 |
|
|
|
— |
|
|
|
— |
|
|
|
2,551,613 |
|
| Amortization of note discount |
|
|
(646,827 |
) |
|
|
— |
|
|
|
— |
|
|
|
(646,827 |
) |
| Interest expense |
|
|
(260,127 |
) |
|
|
— |
|
|
|
— |
|
|
|
(260,127 |
) |
| Change in fair value of derivatives |
|
|
(1,829,976 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1,829,976 |
) |
| Foreign currency transaction loss |
|
|
(7,806 |
) |
|
|
— |
|
|
|
— |
|
|
|
(7,806 |
) |
| Equity loss from investee |
|
|
— |
|
|
|
— |
|
|
|
(140,479 |
) |
|
|
(140,479 |
) |
| Other expense |
|
|
(75,000 |
) |
|
|
— |
|
|
|
— |
|
|
|
(75,000 |
) |
| Income (loss) before taxes |
|
|
(983,850 |
) |
|
|
(22,911 |
) |
|
|
316,116 |
|
|
|
(690,645 |
) |
| Taxes |
|
|
(10 |
) |
|
|
— |
|
|
|
(2,510 |
) |
|
|
(2,520 |
) |
| Net income (loss) |
|
$ |
(983,860 |
) |
|
$ |
(22,911 |
) |
|
$ |
313,606 |
|
|
$ |
(693,165 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Three Months Ended March 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Assets |
|
$ |
1,589,950 |
|
|
$ |
545,478 |
|
|
$ |
1,147,427 |
|
|
$ |
3,282,855 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
— |
|
|
$ |
125,449 |
|
|
$ |
912,804 |
|
|
$ |
1,038,253 |
|
| Costs of sales |
|
|
— |
|
|
|
63,519 |
|
|
|
277,663 |
|
|
|
341,182 |
|
| Depreciation/amortization expense |
|
|
2,725 |
|
|
|
— |
|
|
|
801 |
|
|
|
3,526 |
|
| Operating expenses - other |
|
|
638,898 |
|
|
|
110,387 |
|
|
|
1,180,073 |
|
|
|
1,929,358 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Change in fair value of derivatives |
|
|
2,820,002 |
|
|
|
— |
|
|
|
— |
|
|
|
2,820,002 |
|
| Foreign currency transaction gain |
|
|
19,992 |
|
|
|
— |
|
|
|
— |
|
|
|
19,992 |
|
| Interest expense |
|
|
(618,530 |
) |
|
|
— |
|
|
|
(348,260 |
) |
|
|
(966,790 |
) |
| Gain (loss) on extinguishment of debt |
|
|
(931,434 |
) |
|
|
— |
|
|
|
— |
|
|
|
(931,434 |
) |
| Income (loss) before taxes |
|
|
648,407 |
|
|
|
(48,457 |
) |
|
|
(893,993 |
) |
|
|
(294,043 |
) |
| Taxes |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Net loss |
|
$ |
648,407 |
|
|
$ |
(48,457 |
) |
|
$ |
(893,993 |
) |
|
$ |
(294,043 |
) |
|