Quarterly report pursuant to Section 13 or 15(d)

Segment Data

v3.20.2
Segment Data
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Segment Data

14. SEGMENT DATA

 

Prior to the commencement of GGI operations, the Company’s chief operating decision-maker (CODM) reviewed the operating results of the Company on an aggregate basis and managed the Company’s operations as a single operating segment. As a result of the commencement of GGI operations in the fourth quarter of 2019, the Company’s financial position and results of operations are classified into three reportable segments, consistent with how the CODM makes decisions about resource allocation and assesses the Company’s performance. :

 

  ● Real Estate Development, through AWE and TAR, including hospitality and winery operations, which support the ALGODON® brand.
  ● Fashion (e-commerce), through GGI, including the manufacture and sale of high-end fashion and accessories sold through an e-commerce platform.
  ● Corporate, consisting of general corporate overhead expenses not directly attributable to any one of the business segments.

 

The Company has recast its financial information and disclosures for the prior period to reflect the segment disclosures as if the current presentation had been in effect throughout all periods presented. The following tables present segment information for the three months ended March 31, 2020 and 2019:

 

    For the Three Months Ended March 31, 2020     For the Three Months Ended March 31, 2019  
    Real Estate
Development		     Fashion
(e-commerce)		     Corporate(1)     TOTAL     Real Estate
Development		     Fashion
(e-commerce)		     Corporate(1)     TOTAL  
Revenues   $ 296,238     $ 749     $ -     $ 296,986     $ 440,495     $ -     $ -     $ 440,495  
Revenues from Foreign Operations   $ 296,238     $ -     $ -     $ 296,238     $ 440,495     $ -     $ -     $ 440,495  
Loss from Operations   $ (297,955 )   $ (317,613 )   $ (650,155 )   $ (1,265,724 )   $ (22,655 )   $ (335,408 )   $ (968,794 )   $ (1,326,857 )

 

(1) Unallocated corporate operating losses resulting from general corporate overhead expenses not directly attributable to any one of the business segments.