v2.4.0.8
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Schedule of Business Segments

Summarized financial information concerning the Company's reportable segments for the three months ended June 30, 2014 and 2013 are shown in the following tables.


                                         

 

 

Three Months Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Tools

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

& Cleaning

 

 

Housewares

 

 

eCommerce

 

 

Corporate

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

$

1,525,104

 

 

$

1,671,145

 

 

$

189,122

 

 

$

-

 

 

$

3,385,371

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) gain

 

$

(2,178,871

)

 

$

(1,016,403

)

 

$

(734,121

)

 

$

733,749

 

 

$

(3,150,916

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

$

16,208

 

 

$

70,529

 

 

$

162,423

 

 

$

-

 

 

$

249,160

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

-

 

 

$

345,445

 

 

$

-

 

 

$

1,029,663

 

 

$

1,375,108

 

  

                                         

 

 

Three Months Ended June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Tools

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

& Cleaning

 

 

Housewares

 

 

eCommerce

 

 

Corporate

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

$

3,813,904

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

3,813,904

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(581,574

)

 

$

-

 

 

$

-

 

 

$

(71,211

)

 

$

(652,785

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

$

8,689

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

8,689

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

-

 

 

$

-

 

 

$

-

 

 

$

73,242

 

 

$

73,242

 


Summarized financial information concerning the Company's reportable segments for the six months ended June 30, 2014 and 2013 are shown in the following tables, followed by a reconciliation of assets to consolidated assets is as follows:


                                         

 

 

Six Months Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Tools

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

& Cleaning

 

 

Housewares

 

 

eCommerce

 

 

Corporate

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

$

4,106,533

 

 

$

2,285,290

 

 

$

189,124

 

 

$

-

 

 

$

6,580,947

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) gain

 

$

(3,153,258

)

 

$

(1,141,668

)

 

$

(734,121

)

 

$

598,416

 

 

$

(4,430,629

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

$

28,995

 

 

$

94,038

 

 

$

162,423

 

 

$

-

 

 

$

285,456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

-

 

 

$

457,956

 

 

$

-

 

 

$

1,159,878

 

 

$

1,617,834

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets held at June 30, 2014

 

$

5,650,111

 

 

$

23,245,131

 

 

$

9,606,683

 

 

$

10,214,375

 

 

$

48,716,300

 



                                         

 

 

Six Months Ended June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Tools

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

& Cleaning

 

 

Housewares

 

 

eCommerce

 

 

Corporate

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

$

9,190,171

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

9,190,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(1,061,093

)

 

$

-

 

 

$

-

 

 

$

(170,698

)

 

$

(1,231,791

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

$

19,940

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

19,940

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

-

 

 

$

-

 

 

$

-

 

 

$

169,269

 

 

$

169,269

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets held

 

$

2,295,191

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

2,295,191

 
Reconciliation of Assets to Consolidated Assets
 

 

For the Six Months Ended

June 30,

 

 

 

2014

 

 

2013

 

Reconciliation of Total Assets Held

 

 

 

 

 

  

Total assets for reportable segments

 

$

48,716,300

 

 

$

2,295,191

 

Elimination of intersegment funding receivables

 

 

(7,957,276

)

 

 

-

 

Elimination of intersegment notes receivable

 

 

(851,237

)

 

 

-

 

Elimination of intersegment interest receivable

 

 

(4,373

)

 

 

-

 

Elimination of intersegment deferred financing fee

 

 

(23,750

)

 

 

-

 

Elimination of intersegment accrued fees

 

 

(45,401

)

 

 

 

 

Total consolidated assets

 

$

39,834,263

 

 

$

2,295,191