| 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:
SCHEDULE OF SEGMENT INFORMATION
| |
|
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 |
|
|