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15. Segment Reporting
 9 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Segment Reporting

The Company operates in two segments which are characterized as: (1) legacy and merchants’ services and (2) online marketplace platform. The legacy and 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 three and nine months ended June 30, 2015 and 2014:

 

   Three Months Ended June 30,   Nine Months Ended June 30, 
   2015   2014   2015   2014 
                 
Revenues                    
Marketplace platform  $2,565,330   $2,197,324   $14,042,094   $2,361,716 
Services   374,075    477,082    1,168,342    1,584,181 
   $2,939,405   $2,674,406   $15,210,436   $3,945,897 
                     
Gross profit (loss)                     
Marketplace platform  $809,253   $(111,149)  $5,268,391   $(99,750)
Services   333,793    406,097    1,046,707    1,299,182 
   $1,143,046   $294,948   $6,315,098   $1,199,432 
                     
Operating income (loss)                     
Marketplace platform  $(4,414,858)  $(1,801,774)  $(6,954,605)  $(3,679,769)
Services   271,221    330,239    853,739    811,643 
   $(4,143,637)  $(1,471,535)  $(6,100,866)  $(2,868,126)
                     
Depreciation and amortization                     
Marketplace platform  $165,205   $123,119   $490,659   $325,134 
Services   3,347    4,396    10,040    13,618 
   $168,552   $127,515   $500,699   $338,752 
                     
Interest Expenses                     
Marketplace platform  $5,678   $172,708   $4,202,622   $284,082 
Services   –    –    –    – 
   $5,678   $172,708   $4,202,622   $284,082 
                     
Net income (loss)                     
Marketplace platform  $(4,479,612)  $(1,994,740)  $(11,104,784)  $(3,862,580)
Services   271,221    452,839    853,739    936,667 
   $(4,208,391)  $(1,541,901)  $(10,251,045)  $(2,925,913)

 

   As of   As of 
   June 30,   September 30, 
   2015   2014 
Total Assets           
Marketplace platform  $15,297,836   $18,118,425 
Services   163,361    171,021 
   $15,461,197   $18,289,446 
           
Intangible assets           
Marketplace platform  $4,892,586   $4,234,692 
Services   4,605    6,422 
   $4,897,191   $4,241,114