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Note 14 - Industry Segments
 3 Months Ended
Mar. 31, 2022
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, 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 billboards are located in Alabama, Arkansas, Florida, Georgia, Illinois, Iowa, Kansas, Missouri, Nebraska, Nevada, Oklahoma, 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, Florida and Utah.  

 

                  

Total

 

Three Months Ended March 31, 2022

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $3,077,852  $9,138,149  $4,076,946  $-  $16,292,947 

Segment gross profit

  1,896,961   5,610,777   3,166,171   -   10,673,909 

Segment income (loss) from operations

  (194,182)  1,009,980   (423,701)  (2,841,833)  (2,449,736)

Capital expenditures

  105,147   799,241   5,080,919   160,983   6,146,290 

Depreciation and amortization

  54,865   1,993,795   857,567   27,037   2,933,264 

 

                  

Total

 

Three Months Ended March 31, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $2,256,297  $7,153,685  $3,795,037  $-  $13,205,019 

Segment gross profit

  1,127,087   4,291,938   3,038,824   -   8,457,849 

Segment income (loss) from operations

  (787,487)  106,049   777,426   (1,581,766)  (1,485,778)

Capital expenditures

  -   6,563,517   2,040,190   123,059   8,726,766 

Depreciation and amortization

  40,378   1,697,028   559,755   14,815   2,311,976 

 

 

As of March 31, 2022

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Accounts receivable, net

 $1,433,915  $3,528,242  $191,420  $-  $5,153,577 

Goodwill

  11,325,138   121,130,452   19,635,158   -   152,090,748 

Total assets

  62,797,839   275,751,252   70,944,374   261,126,703   670,620,168 

 

                  

Total

 

As of December 31, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Accounts receivable, net

 $1,495,664  $2,770,428  $202,771  $-  $4,468,863 

Goodwill

  11,058,922   120,642,896   19,635,158   -   151,336,976 

Total assets

  57,150,042   276,266,829   69,113,699   404,523,223   807,053,793