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14. Segment Information
 6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
NOTE 14 - Segment Information

Each event and the Stratus Reward program is considered an operating segment pursuant to ASC 280 since each is budgeted separately and results of each event and the Stratus program are tracked separately to provide the chief operating decision maker information to assess and manage each event and the Stratus Program.

 

The characteristics of the Stratus Visa White Card program are different than the events, so that operating segment is considered a reporting segment.  The events share similar economic characteristics and are aggregated into a reporting segment pursuant to paragraph 17 of ASC 280.  All of the events provide entertainment and the logistics and production processes and methods for each event are similar:  sponsorship sales, ticket and concession sales, security, stages, public address systems and the like.  While the demographic characteristics of the audience can vary by event, all events cater to consumer entertainment.

 

A summary of results by segment is as follows:

 

    (Amounts in $000)  
    As of/for the Six Months ended June 30, 2012     As of /for the Six Months ended June 30, 2011  
   

Stratus

Credit Card

    

ProElite

Events

     Other     Total     Credit Card     Events     Other     Total  
Revenues   $ -     $ 231     $ -     $ 231     $ -     $ -     $ -     $ -  
Cost of revenues     -       235       -       235       -       -       -       -  
Gross loss     -       (4 )      -       (4 )      -       -       -       -  
Deprec. & Amort     -       -       20       20       30       -       -       30  
Segment loss     -       (4 )      (20 )      (24 )     (30 )      -       -       (30 ) 
Operating expenses     175       578       4,018       4,771       175       -       3,526       3,701  
Other expenses     -       38       1,020       1,058       -       -       129       129  
Net loss   $ (175 )    $ (620 )    $ (5,058 )    $ (5,853 )    $ (205 )   $ -     $ (3,655 )    $ (3,860 ) 
                                                                 
Assets   $ 1,073     $ 1,924     $ 712     $ 3,709     $ 1,216     $ 2,124     $ 9,127     $ 12,467  
Liabilities   $ 200     $ 2,085     $ 6,492     $ 8,777     $ 1,000     $ 484     $ 2,329     $ 3,813