v3.5.0.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of Segment Reporting

The Company’s operations during the three and six months ended June 30, 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 June 30, 2016   Corporate     Lifestyle     Agriculture     Total  
                         
Total Assets   $ 821,489       205,295       4,971,283       5,998,067  
                                 
Revenue   $ —       47,277       1,493,003       1,540,280  
Costs of sales     —       49,031       448,662       497,693  
Depreciation/amortization expense     95,346       2,501       801       98,648  
Operating expenses - other     493,530       45,784       308,513       847,827  
                                 
Gain on extinguishment of debt     487,906       —       67,774       555,680  
Amortization of note discount     (839,188 )     —       —       (839,188 )
Interest expense     (226,350 )     (9,170 )     —       (235,520 )
Change in fair value of derivatives     3,819,840       —       —       3,819,840  
Equity loss from investee     —       —       (140,032 )     (140,032 )
Foreign currency transaction gain     5,263       —       —       5,263  
Income (loss) before taxes     2,658,595       (59,209 )     662,769       3,262,155  
Taxes     —       —       —       —  
Net income (loss)   $ 2,568,595       (59,209 )     662,769       3,262,155  

 

Three Months Ended June 30, 2015                        
                         
Total Assets   $ 818,452       171,916       1,397,915       2,388,283  
                                 
Revenue   $ —       96,010       1,149,559       1,245,569  
Costs of sales     —       76,009       439,064       515,073  
Depreciation/amortization expense     —       —       801       801  
Operating expenses - other     1,403,284       83,719       887,872       2,374,875  
Research and development     —       —       (51,783 )     (51,783 )
                                 
Change in fair value of derivatives     (36,500 )     —       —       (36,500 )
Equity loss from investee     —       —       (161,471 )     (161,471 )
Foreign currency transaction loss     (6,071 )     —       —       (6,071 )
Interest expense     (569,720 )     —       (232,855 )     (802,575 )
Other expense     (560,000 )     —       —       (560,000 )
Gain (loss) on extinguishment of debt     (31,194 )     —       6,350       (24,844 )
Income (loss) before taxes     (2,606,769 )     (63,718 )     (514,371 )     (3,184,858 )
Taxes     —       —       —       —  
Net loss   $ (2,606,769 )     (63,718 )     (514,371 )     (3,184,858 )

 

Six Months Ended June 30, 2016   Corporate     Lifestyle     Agriculture     Total  
                         
Total Assets   $ 821,489     $ 205,295       4,971,283       5,998,067  
                                 
Revenue   $ —     $ 104,160       2, 385,922       2,490,082  
Costs of sales     —       83,715       520,363       604,078  
Depreciation/amortization expense     190,691       2,501       1,602       194,794  
Operating expenses - other     1,090,879       110,925       675,336       1,877,140  
                                 
Gain on extinguishment of debt     3,039,519       —       67,774       3,107,293  
Amortization of note discount     (1,485,742 )     —       —       (1,485,742 )
Interest expense     (486,750 )     (9,170 )     —       (495,920 )
Change in fair value of derivatives     1,989,864       —       —       1,989,864  
Foreign currency transaction loss     (2,543 )     —       —       (2,543 )
Equity loss from investee     —       —       (280,511 )     (280,511 )
Other expense     (75,000 )     —       —       (75,000 )
Income (loss) before taxes     1,697,777       (102,151 )     975,885       2,571,511  
Taxes     (10 )     —       (2,510 )     (2,520 )
Net income (loss)   $ 1,697,767     $ (102,151 )     973,375       2,568,991  

 

Six Months Ended June 30, 2015                        
                         
Total Assets   $ 818,452       171,916       1,397,915       2,388,283  
                                 
Revenue   $ —       221,459       2,062,363       2,283,822  
Costs of sales     —       139,528       716,727       856,255  
Depreciation/amortization expense     —       —       1,602       1,602  
Operating expenses - other     2,044,105       194,107       1,748,156       3,986,368  
Research and development     —       —       268,807       268,807  
                                 
Change in fair value of derivatives     2,783,501       —       —       2,783,501  
Foreign currency transaction gain     13,921       —       —       13,921  
Equity loss from investee     —       —       (161,471 )     (161,471 )
Interest expense     (1,188,250 )     —       (581,115 )     (1,769,365 )
Other expense     (560,000 )     —       —       (560,000 )
Gain (loss) on extinguishment of debt     (962,628 )     —       6,350       (956,278 )
Income (loss) before taxes     (1,957,561 )     (112,176 )     (1,409,165 )     (3,478,902 )
Taxes     —       —       —       —  
Net loss   $ (1,957,561 )     (112,176 )     (1,409,165 )     (3,478,902 )