| NOTE 11 - SEGMENT REPORTING |
NOTE 11 – SEGMENTS
The Company follows paragraph 280 of the FASB
Accounting Standards Codification for disclosures about segment reporting. This Statement requires companies to report information
about operating segments in interim and annual financial statements. It also requires segment disclosures about products and services,
geographic areas, and major customers.
| |
|
Nine Months Ended |
| |
|
September 30, |
|
September 30, |
| |
|
2016 |
|
2015 |
| Revenues: |
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
510 |
|
|
$ |
806 |
|
| MariMed |
|
|
2,134,935 |
|
|
|
542,774 |
|
| Consolidated revenues |
|
$ |
2,135,445 |
|
|
$ |
543,580 |
|
| |
|
|
|
|
|
|
|
|
| Depreciation and amortization: |
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
— |
|
|
$ |
— |
|
| MariMed |
|
|
166,108 |
|
|
|
20,000 |
|
| Depreciation and amortization |
|
$ |
166,108 |
|
|
$ |
20,000 |
|
| |
|
|
|
|
|
|
|
|
| Profit/(Loss) before taxes |
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
(355,058 |
) |
|
$ |
(487,773 |
) |
| MariMed |
|
|
327,637 |
|
|
|
(299,213 |
) |
| Profit/(Loss) before taxes |
|
$ |
(27,421 |
) |
|
$ |
(786,986 |
) |
|
Capital Expenditures:
|
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
— |
|
|
$ |
— |
|
| MariMed |
|
|
3,346,355 |
|
|
|
2,500,249 |
|
| Combined capital expenditures |
|
$ |
3,346,355 |
|
|
$ |
2,500,249 |
|
| |
|
|
|
|
|
|
|
|
| Assets: |
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
9,137 |
|
|
$ |
51,996 |
|
| MariMed |
|
|
7,687,828 |
|
|
|
4,202,078 |
|
| Combined assets |
|
$ |
7,696,965 |
|
|
$ |
4,254,074 |
|
|