Annual report pursuant to Section 13 and 15(d)

23. Segment Information (Tables)

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23. Segment Information (Tables)
12 Months Ended
Dec. 31, 2015
Segment Information Tables  
Operating segment information
    Year ended December 31, 2015  
    Carrier Services     Business Services     Corporate and Unallocated*     Consolidated  
Revenues   $ 35,521,679       66,172,837     $ -     $ 101,694,516  
Cost of revenues (exclusive of depreciation and amortization)     32,596,384       24,127,737       -       56,724,121  
Gross profit     2,925,295       42,045,100       -       44,970,395  
Depreciation and amortization     185,397       12,359,821       430,763       12,975,981  
Selling, general and administrative expenses     4,412,087       32,810,336       3,786,685       41,009,107  
Interest expense     (99,010 )     (5,757,609 )     (206,304 )     (6,062,923 )
Gain on change in fair value of derivative liability     -       -       1,843,997       1,843,997  
Loss on extinguishment of debt     (182,083 )     (2,538,272 )     -       (2,720,355 )
Other income (expenses)     875,067       (818,544 )     7,090       63,613  
Benefit for income taxes     -       7,660,536       -       7,660,536  
Net loss   $ (1,078,215 )   $ (4,578,945 )   $ (2,572,665 )   $ (8,229,825 )
                                 
Total assets   $ 4,703,799     $ 98,547,943     $ 2,500,524     $ 105,752,266  
Capital expenditures   $ 73,115     $ 3,367,335     $ -     $ 3,440,450  

 

    Year ended December 31, 2014  
    Carrier Services     Business Services     Corporate and Unallocated*     Consolidated  
Revenues   $ 29,156,799     $ 62,895,801     $ -     $ 92,052,600  
Cost of revenues (exclusive of depreciation and amortization)     25,970,357       23,628,016       -       49,598,373  
Gross profit     3,186,442       39,267,785       -       42,454,227  
Depreciation and amortization     445,273       10,467,018       92,593       11,004,884  
Selling, general and administrative expenses     2,922,989       25,153,607       5,147,778       33,224,374  
Interest expense     -       (5,659,702 )     (328,709 )     (5,988,411 )
Gain on change in fair value of derivative liability                     5,161,901       5,161,901  
Other (expenses) income     (97,560 )     23,719       134,291       60,450  
Benefit (provision) for income taxes     -       24,741       (50,792 )     (26,051 )
                                 
Net loss   $ (279,380 )   $ (1,964,082 )   $ (323,680 )   $ (2,567,142 )
                                 
Total assets   $ 4,553,339     $ 66,394,132     $ 2,800,023     $ 73,747,494  
Capital expenditures   $ 101,872     $ 3,717,541     $ -     $ 3,819,413  

 

*The Company employs executive, administrative, human resources, and finance resources that service both the Carrier Services and Business Services segments.  The amounts reflected as Corporate & Unallocated represent those operating expenses, assets and capital expenditures that were not allocated to a business segment or product line.