Quarterly report pursuant to Section 13 or 15(d)

11. Segment Information (Tables)

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11. Segment Information (Tables)
6 Months Ended
Jun. 30, 2014
Notes to Financial Statements  
Operating segment information

 

Operating segment information for the three and six months ended June 30, 2014 and 2013 is summarized as follows:

  

 Three  months ended June 30, 2014 
     Carrier Services     Business Services      Corporate and Unallocated     Consolidated 
 Revenues   $          7,510,875    $         15,630,098    $                  -       $    23,140,973
 Cost of revenues (exclusive of               
   depreciation and amortization)               6,714,319                 6,033,122                        -             12,747,441
 Gross profit                  796,556                 9,596,976                        -             10,393,532
 Depreciation and amortization                    53,503                 2,522,472                22,003            2,597,978
 Selling, general and administrative expenses                  725,383                 5,878,297           1,221,814            7,825,494
 Interest expense                            -                  (1,400,275)               (196,940)          (1,597,215)
 Loss on change in fair value of derivative liability                    (690,878)             (690,878)
 Other (expenses) income                   (52,997)                    (25,556)                79,272                      719
 Provision for income taxes                            -                                 -                 151,583               151,583
 Net loss   $             (35,327)    $            (229,624)    $    (2,203,946)    $    (2,468,897)
                 
                 
 Total assets   $          5,040,316    $         58,293,657    $     6,720,174    $    70,054,147

 

 Six months ended June 30, 2014 
     Carrier Services     Business Services      Corporate and Unallocated     Consolidated 
 Revenues   $        14,673,371    $         31,372,431    $                  -       $    46,045,802
 Cost of revenues (exclusive of               
   depreciation and amortization)             13,033,057               11,943,416                        -             24,976,473
 Gross profit               1,640,314               19,429,015                        -             21,069,329
 Depreciation and amortization                  116,198                 5,005,102                44,169            5,165,469
 Selling, general and administrative expenses               1,441,232               11,840,301           2,363,358          15,644,891
 Interest expense                            -                  (2,754,067)               (237,694)          (2,991,761)
 Gain on change in fair value of derivative liability                  1,919,069            1,919,069
 Other (expenses) income                   (94,037)                    (26,656)                80,338               (40,355)
 Provision for income taxes                            -                                 -                 173,078               173,078
 Net loss   $             (11,153)    $            (197,111)    $       (818,892)    $       (1,027,156)
                 
                 
 Capital expenditures   $               56,995    $           1,760,712    $                  -       $      1,817,707

 

 Three Months Ending June 30, 2013 
     Carrier Services     Business Services      Corporate and Unallocated     Consolidated 
 Revenues   $          6,738,527    $           7,491,651    $                  -       $    14,230,178
 Cost of revenues (exclusive of               
   depreciation and amortization)               5,938,937                 3,666,597                        -               9,605,534
 Gross profit                  799,590                 3,825,054                        -               4,624,644
 Depreciation and amortization                    48,219                    803,006                21,359               872,584
 Selling, general and administrative expenses                  748,757                 2,600,306           1,084,785            4,433,848
 Interest expense                            -                     (583,344)               (86,387)             (669,731)
 Loss on extinguishment of debt                      (92,376)               (92,376)
 Gain on change in fair value of derivative liability                     238,517               238,517
 Other (expenses) income                  (43,747)                      28,107                 (2,091)               (17,731)
 Gain on extinguishment of accounts payable                                 -              2,908,882            2,908,882
 Provision for income taxes                            -                                    -   
 Net (loss) income   $             (41,133)    $            (133,495)    $     1,860,401    $      1,685,773
                 
 Total assets   $          3,332,067    $         23,091,098    $        897,682    $    27,320,847

 

 Six Months Ended June 30, 2013 
     Carrier Services     Business Services      Corporate and Unallocated     Consolidated 
 Revenues   $        15,431,815    $         14,966,784    $                  -       $    30,398,599
 Cost of revenues (exclusive of               
   depreciation and amortization)             13,920,474                 7,436,656                        -             21,357,130
 Gross profit               1,511,341                 7,530,128                        -               9,041,469
 Depreciation and amortization                    96,432                 1,583,422                42,645            1,722,499
 Selling, general and administrative expenses               1,617,952                 5,051,717           2,031,777            8,701,446
 Interest expense                            -                  (1,148,822)             (180,428)          (1,329,250)
 Loss on extinguishment of debt                    (150,579)             (150,579)
 Gain on change in fair value of derivative liability                     105,267               105,267
 Other (expenses) income                (127,231)                      38,711                26,169               (62,351)
 Gain on extinguishment of accounts payable                                 -              2,908,882            2,908,882
 Net (loss) income   $           (330,274)    $            (215,122)    $        634,889    $           89,493
                 
                 
 Capital expenditures   $               49,768    $              561,342    $          17,497    $         628,607