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Note 13 - Industry Segments

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE

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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, UCS, and GIDIS. SSS clients are multi-state and UCS, SCS, 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, UCS, and GIDIS 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, Illinois, Iowa, Kansas, Missouri, Nebraska, Virginia, West Virginia, and Wisconsin.

														Total
Three Months Ended June 30, 2019		GIG				LMH				Unallocated				Consolidated
Revenue		$	2,989,569			$	7,149,992			$	-			$	10,139,561
Segment gross profit			1,558,586				4,385,102				-				5,943,688
Segment loss from operations			(738,364	)			(1,513,728	)			(950,547	)			(3,202,639	)
Capital expenditures			(194	)			551,596				-				551,402
Depreciation and amortization			295,248				3,422,446				-				3,717,694

														Total
Three Months Ended June 30, 2018		GIG				LMH				Unallocated				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
Six Months Ended June 30, 2019		GIG				LMH				Unallocated				Consolidated
Revenue		$	5,319,904			$	13,930,382			$	-			$	19,250,286
Segment gross profit			2,603,199				8,454,095				-				11,057,294
Segment loss from operations			(2,056,378	)			(3,314,476	)			(2,619,735	)			(7,990,589	)
Capital expenditures			37,761				1,397,179				-				1,434,940
Depreciation and amortization			611,310				6,798,219				-				7,409,529

														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

Link Media Holdings, LLC

														Total
As of June 30, 2019		GIG				LMH				Unallocated				Consolidated
Accounts receivable, net		$	1,520,186			$	3,353,888			$	-			$	4,874,074
Goodwill			8,719,294				89,966,501				-				98,685,795
Total assets			40,416,459				218,031,471				131,711,361				390,159,291

														Total
As of December 31, 2018		GIG				LMH				Unallocated				Consolidated
Accounts receivable, net		$	1,075,399			$	3,389,045			$	-			$	4,464,444
Goodwill			8,719,294				89,966,501				-				98,685,795
Total assets			36,396,939				175,082,989				120,714,593				332,194,521

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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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