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Note 14 - Industry Segments

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 14.     INDUSTRY 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, and UCS. 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, and UCS 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, Nevada, Virginia, West Virginia, and Wisconsin.

Fiber is Fast, LLC

FIF conducts our broadband operations through its subsidiary, AireBeam.  Airebeam serves clients located in Arizona. 

																		Total
Three Months Ended June 30, 2020		GIG				LMH				FIF				Unallocated				Consolidated
Revenue		$	3,674,450			$	6,654,032			$	1,164,082			$	-			$	11,492,564
Segment gross profit			1,569,532				3,912,680				989,846				-				6,472,058
Segment income (loss) from operations			(184,734	)			(118,493	)			331,425				(893,507	)			(865,309	)
Capital expenditures			-				117,851				1,139,482				-				1,257,333
Depreciation and amortization			142,250				1,648,509				172,450				-				1,963,209

																		Total
Three Months Ended June 30, 2019		GIG				LMH				FIF				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
Six Months Ended June 30, 2020		GIG				LMH				FIF				Unallocated				Consolidated
Revenue		$	7,601,613			$	13,869,798			$	1,431,333			$	-			$	22,902,744
Segment gross profit			3,992,833				8,177,892				1,181,674				-				13,352,399
Segment income (loss) from operations			115,652				(46,375	)			396,835				(2,511,393	)			(2,045,281	)
Capital expenditures			-				2,715,381				14,818,910				-				17,534,291
Depreciation and amortization			284,196				3,289,894				172,450				-				3,746,540

																		Total
Six Months Ended June 30, 2019		GIG				LMH				FIF				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
As of June 30, 2020		GIG				LMH				FIF				Unallocated				Consolidated
Accounts receivable, net		$	1,402,945			$	2,702,840			$	-			$	-			$	4,105,785
Goodwill			8,719,294				97,572,994				7,394,158				-				113,686,446
Total assets			45,974,398				222,240,073				16,312,021				184,354,694				468,881,186

																		Total
As of December 31, 2019		GIG				LMH				FIF				Unallocated				Consolidated
Accounts receivable, net		$	1,213,823			$	2,976,720			$	-			$	-			$	4,190,543
Goodwill			8,719,294				97,553,207				-				-				106,272,501
Total assets			45,956,410				224,258,311				-				166,693,489				436,908,210

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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.

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