| Segment Data |
13. 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 year ended December
31, 2020 and 2019:
| |
|
For the Year ended December 31, 2020 |
|
|
For the Year ended December 31, 2019 |
|
| |
|
Real Estate Development |
|
|
Fashion
(e-commerce) |
|
|
Corporate(1) |
|
|
TOTAL |
|
|
Real Estate Development |
|
|
Fashion
(e-commerce) |
|
|
Corporate(1) |
|
|
TOTAL |
|
| Revenues |
|
$ |
632,628 |
|
|
$ |
3,161 |
|
|
$ |
- |
|
|
$ |
635,789 |
|
|
$ |
1,272,772 |
|
|
$ |
11,665 |
|
|
$ |
- |
|
|
$ |
1,284,437 |
|
| Revenues from Foreign Operations |
|
$ |
632,628 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
632,628 |
|
|
$ |
1,272,772 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,272,772 |
|
| Depreciation and Amortization |
|
$ |
127,692 |
|
|
$ |
2,147 |
|
|
$ |
40,350 |
|
|
$ |
170,189 |
|
|
$ |
146,398 |
|
|
$ |
1,901 |
|
|
$ |
48,139 |
|
|
$ |
196,438 |
|
| Loss from Operations |
|
$ |
(1,162,615 |
) |
|
$ |
(745,298 |
) |
|
$ |
(3,458,013 |
) |
|
$ |
(5,365,926 |
) |
|
$ |
(1,469,438 |
) |
|
$ |
(1,230,285 |
) |
|
$ |
(3,998,411 |
) |
|
$ |
(6,698,134 |
) |
| Interest Expense, net |
|
$ |
60,986 |
|
|
$ |
7,010 |
|
|
$ |
177,178 |
|
|
$ |
245,174 |
|
|
$ |
192,060 |
|
|
$ |
47,034 |
|
|
$ |
121,319 |
|
|
$ |
360,413 |
|
| Net Loss |
|
$ |
(1,040,681 |
) |
|
$ |
(752,308 |
) |
|
$ |
(3,988,694 |
) |
|
$ |
(5,781,683 |
) |
|
$ |
(1,559,766 |
) |
|
$ |
(1,277,319 |
) |
|
$ |
(4,119,730 |
) |
|
$ |
(6,956,815 |
) |
| Capital Expenditures |
|
$ |
116,033 |
|
|
$ |
(1,360 |
) |
|
$ |
781 |
|
|
$ |
115,454 |
|
|
$ |
129,325 |
|
|
$ |
9,946 |
|
|
$ |
- |
|
|
$ |
139,271 |
|
| Total Property and Equipment, net |
|
$ |
2,855,444 |
|
|
$ |
4,538 |
|
|
$ |
240 |
|
|
$ |
2,860,222 |
|
|
$ |
2,866,861 |
|
|
$ |
8,044 |
|
|
$ |
39,810 |
|
|
$ |
2,914,715 |
|
| Total Property and Equipment, net in Foreign Countries |
|
$ |
2,855,444 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
2,855,444 |
|
|
$ |
2,866,861 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
2,866,861 |
|
| Total Assets |
|
$ |
5,064,401 |
|
|
$ |
238,491 |
|
|
$ |
667,644 |
|
|
$ |
5,970,536 |
|
|
$ |
5,020,788 |
|
|
$ |
286,658 |
|
|
$ |
612,914 |
|
|
$ |
5,920,360 |
|
|