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Note 14 - Industry Segments | 6 Months Ended
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Jun. 30, 2021
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 14. 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, ACS and UCS. SSS clients are multi-state and UCS, SCS, ACS 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, ACS 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. FIF provides high-speed broadband services to its customers located in Arizona and Utah.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
Three Months Ended June 30, 2021 |  | GIG |  |  | LMH |  |  | FIF |  |  | Unallocated |  |  | Consolidated |
Revenue |  | $ | 2,466,595 |  |  | $ | 7,952,832 |  |  | $ | 3,760,454 |  |  | $ | - |  |  | $ | 14,179,881 |
Segment gross profit |  |  | 1,593,990 |  |  |  | 4,879,302 |  |  |  | 2,906,025 |  |  |  | - |  |  |  | 9,379,317 |
Segment income (loss) from operations |  |  | (432,117 | ) |  |  | 866,378 |  |  |  | 488,431 |  |  |  | (2,016,164 | ) |  |  | (1,093,472 | )
Capital expenditures |  |  | 3,044,246 |  |  |  | 839,122 |  |  |  | 3,016,219 |  |  |  | 550,297 |  |  |  | 7,449,884 |
Depreciation and amortization |  |  | 56,115 |  |  |  | 1,755,935 |  |  |  | 618,820 |  |  |  | 25,330 |  |  |  | 2,456,200 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |
Six Months Ended June 30, 2021 |  | GIG |  |  | LMH |  |  | FIF |  |  | Unallocated |  |  | Consolidated |
Revenue |  | $ | 4,722,892 |  |  | $ | 15,106,517 |  |  | $ | 7,555,491 |  |  | $ | - |  |  | $ | 27,384,900 |
Segment gross profit |  |  | 2,721,077 |  |  |  | 9,171,240 |  |  |  | 5,944,849 |  |  |  | - |  |  |  | 17,837,166 |
Segment income (loss) from operations |  |  | (1,219,604 | ) |  |  | 972,427 |  |  |  | 1,265,857 |  |  |  | (3,597,930 | ) |  |  | (2,579,250 | )
Capital expenditures |  |  | 3,044,246 |  |  |  | 7,402,639 |  |  |  | 5,056,409 |  |  |  | 673,356 |  |  |  | 16,176,650 |
Depreciation and amortization |  |  | 96,493 |  |  |  | 3,452,963 |  |  |  | 1,178,575 |  |  |  | 40,145 |  |  |  | 4,768,176 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |
As of June 30, 2021 |  | GIG |  |  | LMH |  |  | FIF |  |  | Unallocated |  |  | Consolidated |
Accounts receivable, net |  | $ | 2,464,780 |  |  | $ | 2,882,508 |  |  | $ | 225,244 |  |  | $ | - |  |  | $ | 5,572,532 |
Goodwill |  |  | 11,058,922 |  |  |  | 100,363,666 |  |  |  | 18,154,158 |  |  |  | - |  |  |  | 129,576,746 |
Total assets |  |  | 58,069,791 |  |  |  | 225,704,835 |  |  |  | 68,605,213 |  |  |  | 464,792,471 |  |  |  | 817,172,310 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
As of December 31, 2020 |  | GIG |  |  | LMH |  |  | FIF |  |  | Unallocated |  |  | Consolidated |
Accounts receivable, net |  | $ | 1,160,424 |  |  | $ | 2,633,711 |  |  | $ | 247,428 |  |  | $ | - |  |  | $ | 4,041,563 |
Goodwill |  |  | 8,719,294 |  |  |  | 97,572,994 |  |  |  | 18,154,158 |  |  |  |  |  |  |  | 124,446,446 |
Total assets |  |  | 54,536,523 |  |  |  | 219,607,150 |  |  |  | 48,496,371 |  |  |  | 318,067,382 |  |  |  | 640,707,426 |

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