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18. Segment Reporting

12 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

18. Segment Reporting

The Company operates in two segments which are characterized as:  (1) legacy merchant’s services and (2) online marketplace platform. The legacy/merchants’ services consists of LEC business and Velocity Local and the online marketplace platform consists of livedeal.com and the recent acquisitions of consumer products entities.

The following tables summarize segment information for the years ended September 30, 2014 and 2013:

		Year Ended September 30,
		2014				2013
Net revenues
Marketplace platform		$	5,270,508			$	0
Services			1,994,768				2,351,868
		$	7,265,276			$	2,351,868
Gross profit
Marketplace platform		$	435,830			$	0
Services			1,602,809				1,435,537
		$	2,038,639			$	1,435,537
Operating income (loss)
Marketplace platform		$	(5,535,360	)		$	(3,052,935	)
Services			1,036,076				314,841
		$	(4,499,284	)		$	(2,738,094	)
Depreciation and amortization
Marketplace platform		$	473,292			$	247,473
Services			16,964				16,639
		$	490,256			$	264,112
Interest Expenses
Marketplace platform		$	458,934			$	3,291,031
Services			0				0
		$	458,934			$	3,291,031
Net income (loss)
Marketplace platform		$	(5,822,732	)		$	(6,156,289	)
Services			1,161,351				409,275
		$	(4,661,381	)		$	(5,747,014	)

		As of September 30,
		2014				2013
Total Assets
Marketplace platform		$	18,118,425			$	3,670,208
Services			171,021				323,042
		$	18,289,446			$	3,993,250
Intangible assets
Marketplace platform		$	4,234,692			$	2,839,557
Services			6,422				8,844
		$	4,241,114			$	2,848,401

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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.

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