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14. SEGMENTED, SIGNIFICANT CUSTOMER INFORMATION AND ECONOMIC DEPENDENCY | 12 Months Ended
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Dec. 31, 2014
Notes to Financial Statements |
Note 14. SEGMENTED, SIGNIFICANT CUSTOMER INFORMATION AND ECONOMIC DEPENDENCY | The Company operates in two segments: (a) Energy and water conservation products (as shown under the column heading “EWCP” below), which consists of a (i) liquid swimming pool blanket which saves energy and water by inhibiting evaporation from the pool surface, and (ii) food-safe powdered form of the active ingredient within the liquid blanket and which is designed to be used in still or slow moving drinking water sources. (b) Biodegradable polymers (“BCPA’s”), used by the petroleum, chemical, utility and mining industries to prevent corrosion and scaling in water piping. This product can also be used in detergents to increase biodegradability and in agriculture to increase crop yields by enhancing fertilizer uptake. The accounting policies of the segments are the same as those described in Note 2, Significant Accounting Policies. The Company evaluates performance based on profit or loss from operations before income taxes, not including nonrecurring gains and losses and foreign exchange gains and losses. The Company’s reportable segments are strategic business units that offer different, but synergistic products and services. They are managed separately because each business requires different technology and marketing strategies. Year ended December 31, 2014:
|  | EWCP |  |  | BCPA |  |  | Consolidated |
Revenue |  | $ | 872,766 |  |  | $ | 15,035,083 |  |  | $ | 15,907,849 |
Interest expense |  |  | 30,053 |  |  |  | 64,837 |  |  |  | 94,890 |
Depreciation |  |  | 599,279 |  |  |  | 190,454 |  |  |  | 789,733 |
Income tax expense (recovery) |  |  | - |  |  |  | 422,044 |  |  |  | 422,044 |
Segment profit (loss) |  |  | (1,499,350 | ) |  |  | 1,902,695 |  |  |  | 403,345 |
Segment assets |  |  | 3,332,463 |  |  |  | 1,569,841 |  |  |  | 4,902,304 |
Expenditures for segment assets |  |  | 6,156 |  |  |  | 18,379 |  |  |  | 24,535 |
Year ended December 31, 2013:
|  | EWCP |  |  | BCPA |
Revenue |  | $ | 769,818 |  |  | $ | 15,031,778 |
Interest expense |  |  | 49,539 |  |  |  | 59,660 |
Depreciation |  |  | 1,079,256 |  |  |  | 219,360 |
Extraordinary items |  |  | - |  |  |  | 250,000 |
Income tax expense (recovery) |  |  | - |  |  |  | (134,720 | )
Segment profit (loss) |  |  | (846,800 | ) |  |  | 2,668,434 |
Segment assets |  |  | 4,258,075 |  |  |  | 1,741,916 |
Expenditures for segment assets |  |  | 235,565 |  |  |  | - |
Sales by territory are shown below:
|  | 2014 |  |  | 2013 |
Canada |  | $ | 404,483 |  |  | $ | 563,221 |
United States and abroad |  |  | 15,503,366 |  |  |  | 15,238,375 |
Total |  | $ | 15,907,849 |  |  | $ | 15,801,596 |
The Company’s long-lived assets (property, equipment, leaseholds and patents) are located in Canada and the United States as follows:
|  | 2014 |  |  | 2013 |
Canada |  | $ | 3,331,879 |  |  | $ | 4,258,075 |
United States |  |  | 1,570,424 |  |  |  | 1,741,916 |
Total |  | $ | 4,902,304 |  |  | $ | 5,999,991 |
Three customers accounted for $10,216,470 (64%) of sales made in 2014 (2013 - $9,884,601 or 63%).

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