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16. Segment Information | 9 Months Ended
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Sep. 30, 2013
Segment Information |
NOTE 16 - Segment Information | In 2012 and through June 30, 2013, ProElite, Stratus White and other events were considered operating segments pursuant to ASC Topic 280 “Segment Reporting” since each was budgeted separately and tracked separately to provide the chief operating decision maker information to assess and manage ProElite, Stratus White and other events. The characteristics of the Stratus Reward program and ProElite were different than the other events, so that operating segment was considered a reporting segment. The events share similar economic characteristics and were aggregated into a reporting segment pursuant to paragraph 17 of ASC Topic 280. All of the events provide entertainment and the logistics and production processes and methods for each event were similar: sponsorship sales, ticket and concession sales, security, stages, public address systems and the like. While the demographic characteristics of the audience could vary by event, all events catered to consumer entertainment. Subsequent to December 31, 2012, the Company decided to suspend development of all business activities other than ProElite and effective June 30, 2013, the Company decided to suspend development of its ProElite business. A summary of results by segments was as follows:
|  | As of/for the Nine Months Ended September 30, 2013 |  |  | As of/for the Nine Months Ended September 30, 2012 |
|  |  | Stratus |  |  |  |  |  |  |  | Other |  |  |  |  |  |  |  |  |  |  |  | Stratus |  |  |  |  |  |  |  | Other |  |  |  |  |  |  |  |  |
|  |  | Rewards |  |  |  | ProElite |  |  |  | Events |  |  |  | Other |  |  |  | Total |  |  |  | Rewards |  |  |  | ProElite |  |  |  | Events |  |  |  | Other |  |  |  | Total |
Revenues |  | $ | – |  |  | $ | 72 |  |  | $ | – |  |  | $ | – |  |  | $ | 72 |  |  | $ | – |  |  | $ | 375 |  |  | $ | – |  |  | $ | – |  |  | $ | 375 |
Cost of sales |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 236 |  |  |  | – |  |  |  | – |  |  |  | 236 |
Gross margin |  |  | – |  |  |  | 72 |  |  |  | – |  |  |  | – |  |  |  | 72 |  |  |  | – |  |  |  | 139 |  |  |  | – |  |  |  | – |  |  |  | 139 |
Deprec. & Amort. |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 25 |  |  |  | 25 |  |  |  | – |  |  |  | 2 |  |  |  | – |  |  |  | 28 |  |  |  | 30 |
Segment profit |  |  | – |  |  |  | 72 |  |  |  | – |  |  |  | (25 | ) |  |  | 47 |  |  |  | – |  |  |  | 137 |  |  |  | – |  |  |  | (28 | ) |  |  | 109 |
Operating expenses |  |  | 85 |  |  |  | 192 |  |  |  | – |  |  |  | 11,744 |  |  |  | 12,021 |  |  |  | 263 |  |  |  | 803 |  |  |  | – |  |  |  | 7,265 |  |  |  | 8,331 |
Other expenses |  |  | – |  |  |  | 60 |  |  |  | – |  |  |  | 38 |  |  |  | 98 |  |  |  | – |  |  |  | 68 |  |  |  | – |  |  |  | 663 |  |  |  | 730 |
Impact of derivative securities |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (10,390 | ) |  |  | (10,390 | ) |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 13,845 |  |  |  | 13,845 |
Net loss |  |  | (85 | ) |  |  | (180 | ) |  |  | – |  |  |  | (1,417 | ) |  |  | (1,682 | ) |  |  | (263 | ) |  |  | (734 | ) |  |  | – |  |  |  | (21,802 | ) |  |  | (22,798 | )
Net loss attributable to non-controlling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28 |  |  |  | 28 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6 |  |  |  | 6 |
Preferred dividends |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 172 |  |  |  | 172 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 365 |  |  |  | 365 |
Net loss attributable to common shareholders |  | $ | (85 | ) |  | $ | (180 | ) |  | $ | – |  |  | $ | (1,561 | ) |  | $ | (1,826 | ) |  | $ | (263 | ) |  | $ | (734 | ) |  | $ | – |  |  | $ | (22,161 | ) |  | $ | (23,157 | )
Assets |  | $ | – |  |  | $ | 230 |  |  | $ | – |  |  | $ | 3,005 |  |  | $ | 3,235 |  |  | $ | 1,073 |  |  | $ | 119 |  |  | $ | – |  |  | $ | 2,752 |  |  | $ | 3,944 |
Liabilities |  | $ | 122 |  |  | $ | 2,779 |  |  | $ | – |  |  | $ | 6,671 |  |  | $ | 9,572 |  |  | $ | 300 |  |  | $ | 2,271 |  |  | $ | – |  |  | $ | 37,144 |  |  | $ | 39,715 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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