| Segment Reporting |
The Company
operates in three segments which are characterized as: (1) legacy merchant’s services, (2) online marketplace
platform and (3) manufacturing. The legacy merchants’ services consists of LEC business and Velocity Local, the online marketplace
platform consists of livedeal.com and the fiscal 2014 acquisitions of consumer products entities and the manufacturing segment
consists of the recent acquisition of Marquis Industries.
The following tables summarize
segment information for the years ended September 30, 2015 and 2014:
| |
|
Years Ended September
30, |
|
| |
|
2015 |
|
|
2014 |
|
| Revenues |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
15,868,448 |
|
|
$ |
5,270,508 |
|
| Manufacturing |
|
|
16,006,683 |
|
|
|
– |
|
| Services |
|
|
1,494,735 |
|
|
|
1,994,768 |
|
| |
|
$ |
33,369,866 |
|
|
$ |
7,265,276 |
|
| |
|
|
|
|
|
|
|
|
| Gross profit |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
5,724,186 |
|
|
$ |
435,830 |
|
| Manufacturing |
|
|
4,187,026 |
|
|
|
– |
|
| Services |
|
|
1,343,182 |
|
|
|
1,602,809 |
|
| |
|
$ |
11,254,394 |
|
|
$ |
2,038,639 |
|
| |
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
(11,507,737 |
) |
|
$ |
(5,535,360 |
) |
| Manufacturing |
|
|
563,503 |
|
|
|
– |
|
| Services |
|
|
807,967 |
|
|
|
1,036,076 |
|
| |
|
$ |
(10,136,267 |
) |
|
$ |
(4,499,284 |
) |
| |
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
633,732 |
|
|
$ |
473,292 |
|
| Manufacturing |
|
|
402,250 |
|
|
|
– |
|
| Services |
|
|
11,770 |
|
|
|
16,964 |
|
| |
|
$ |
1,047,752 |
|
|
$ |
490,256 |
|
| |
|
|
|
|
|
|
|
|
| Interest Expenses |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
4,214,097 |
|
|
$ |
458,934 |
|
| Manufacturing |
|
|
271,564 |
|
|
|
– |
|
| Services |
|
|
– |
|
|
|
– |
|
| |
|
$ |
4,485,661 |
|
|
$ |
458,934 |
|
| |
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
– |
|
|
$ |
– |
|
| Manufacturing |
|
|
376,000 |
|
|
|
– |
|
| Services |
|
|
– |
|
|
|
– |
|
| |
|
$ |
376,000 |
|
|
$ |
– |
|
| |
|
|
|
|
|
|
|
|
| Net income (loss) applicable to Live Ventures,
Inc. |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
(15,435,765 |
) |
|
$ |
(5,822,732 |
) |
| Manufacturing |
|
|
(184,841 |
) |
|
|
– |
|
| Services |
|
|
954,477 |
|
|
|
1,161,351 |
|
| |
|
$ |
(14,666,129 |
) |
|
$ |
(4,661,381 |
) |
| |
|
As of |
|
|
As of |
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2015 |
|
|
2014 |
|
| Total Assets |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
6,811,977 |
|
|
$ |
18,118,425 |
|
| Manufacturing |
|
|
33,714,344 |
|
|
|
– |
|
| Services |
|
|
138,035 |
|
|
|
171,021 |
|
| |
|
$ |
40,664,356 |
|
|
$ |
18,289,446 |
|
| |
|
|
|
|
|
|
|
|
| Intangible assets (including goodwill) |
|
|
|
|
|
|
|
|
| Marketplace platform |
|
$ |
1,516,930 |
|
|
$ |
4,234,692 |
|
| Manufacturing |
|
|
800,000 |
|
|
|
– |
|
| Services |
|
|
– |
|
|
|
6,422 |
|
| |
|
$ |
2,316,930 |
|
|
$ |
4,241,114 |
|
|