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Note 13 - Industry Segments

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 1 3 . I N DUSTRY SEGMENTS

This summary presents our current segments, as described below.

General Indemnity Group, LLC

GIG conducts our insurance operations through its subsidiaries, Warnock, SSS, SCS, UC&S, and GIIC. UC&S, SSS and SCS clients are multi-state and Warnock clients are nationwide. Revenue consists of surety bond sales and insurance commissions. Currently, GIG’s corporate resources are used to support Warnock, SSS, SCS, UC&S, and GIIC and to make additional business acquisitions in the insurance industry.

Link Media Holdings, LLC

LMH conducts our billboard rental operations. LMH advertisers are located in Alabama, Florida, Georgia, and Wisconsin.

Three Months Ended June 30, 2018		GIG				LMH				Unallocated				Total Consolidated
Revenue		$	1,290,490			$	1,699,269			$	-			$	2,989,759
Segment gross profit			1,025,818				856,482				-				1,882,300
Segment loss from operations			(1,204,432	)			(783,029	)			(516,230	)			(2,503,691	)
Capital expenditures			2,549				1,181,656				-				1,184,205
Depreciation and amortization			316,086				681,533				-				997,619

														Total
Three Months Ended June 30, 2017		GIG				LMH				Unallocated				Consolidated
Revenue		$	779,565			$	1,215,318			$	-			$	1,994,883
Segment gross profit			711,485				596,094				-				1,307,579
Segment loss from operations			(418,264	)			(699,994	)			(271,052	)			(1,389,310	)
Capital expenditures			-				4,468,496				-				4,468,496
Depreciation and amortization			50,678				605,236				-				655,914

														Total
Six Months Ended June 30, 2018		GIG				LMH				Unallocated				Consolidated
Revenue		$	2,563,244			$	3,249,459			$	-			$	5,812,703
Segment gross profit			2,085,708				1,683,838				-				3,769,546
Segment loss from operations			(2,247,811	)			(1,501,711	)			(1,496,560	)			(5,246,082	)
Capital expenditures			10,031				1,758,989				-				1,769,020
Depreciation and amortization			641,220				1,445,427				-				2,086,647

														Total
Six Months Ended June 30, 2017		GIG				LMH				Unallocated				Consolidated
Revenue		$	1,635,000			$	2,229,810			$	-			$	3,864,810
Segment gross profit			1,380,326				1,119,501				-				2,499,827
Segment loss from operations			(651,948	)			(1,158,488	)			(678,769	)			(2,489,205	)
Capital expenditures			-				10,586,030				-				10,586,030
Depreciation and amortization			101,357				1,151,250				-				1,252,607

														Total
As of June 30, 2018		GIG				LMH				Unallocated				Consolidated
Accounts receivable, net		$	469,969			$	820,997			$	-			$	1,290,966
Goodwill			8,719,294				16,286,867				-				25,006,161
Total assets			25,237,935				33,256,376				265,949,091				324,443,402

														Total
As of December 31, 2017		GIG				LMH				Unallocated				Consolidated
Accounts receivable, net		$	433,225			$	662,552			$	-			$	1,095,777
Goodwill			8,719,294				15,972,867				-				24,692,161
Total assets			25,762,437				32,443,777				95,270,870				153,477,084

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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