Annual report pursuant to Section 13 and 15(d)

Business Segment Results

v2.4.0.8
Business Segment Results
12 Months Ended
Dec. 31, 2013
Business Segment Results [Text Block]

Note 12. Business Segment Results

We have two principal business segments, which are (1) our technology business and (2) our consulting services business. These business segments were determined based on the nature of the operations and the services offered. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief decision-makers, in deciding how to allocate resources and in assessing performance. Our Chief Executive Officer and Chief Operating Officer/Chief Financial Officer have been identified as the chief operating decision makers. Our chief operating decision makers direct the allocation of resources to operating segments based on the profitability, the cash flows, and the business plans of each respective segment.

The Company evaluates performance based on several factors, of which achievement of strategic goals toward future profitability and business segment income before taxes are the primary measures. The following tables show the operations of the Company’s reportable business segments for the years ended December 31, 2013 and 2012.

                            Corporate and              
    Consulting     Technology     Eliminations     Total  
    2013     2012     2013     2012     2013     2012     2013     2012  
                                                 

Revenue

$ 1,901,354   $ 3,677,596   $   -   $   -   $   -   $   -   $ 1,901,354   $ 3,677,596  

 

                                               

Segment Profit – Pre Tax

$ 286,299   $ 719,158   $ (2,030,194 ) $ (2,064,568 ) $ (3,121,066 ) $ (2,711,665 ) $ (4,864,961 ) $ (4,057,075 )

 

                                               

Total Assets

$ 425,916   $ 601,803   $ 699,168   $ 600,596   $ 4,532,555   $ 4,941,257   $ 5,657,639   $ 6,143,656  

 

                                               

Property Additions

$ -   $ -   $ -   $ -   $ -   $ 936   $ -   $ 936  

 

                                               

Interest Expense

$ -   $ -   $ -   $ -   $ -   $ -   $ -   $ -  

 

                                               

Depreciation

$ -   $   -   $   -   $ 1,577   $ 17,221   $ 26,780   $ 17,221   $ 28,357