Quarterly report pursuant to Section 13 or 15(d)

15. Segment Reporting

v2.4.1.9
15. Segment Reporting
3 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Segment Reporting

The Company operates in two segments which are characterized as:  (1) legacy and merchants’ services and (2) online marketplace platform. The legacy and merchants’ services consists of LEC business and Velocity Local and the online marketplace platform consists of livedeal.com and the recent acquisitions of consumer products entities.

 

The following tables summarize segment information for the three months ended December 31, 2014 and 2013:

 

    Three Months Ended
December 31,
 
    2014     2013  
Net revenues                
 Marketplace platform   $ 7,597,068     $ 1,392  
 Services     409,984       592,066  
    $ 8,007,052     $ 593,458  
                 
Gross profit                
 Marketplace platform   $ 2,879,923     $ (191 )
 Services     357,033       472,320  
    $ 3,236,956     $ 472,129  
                 
Operating income (loss)                
 Marketplace platform   $ (1,158,430 )   $ (667,488 )
 Services     290,541       241,846  
    $ (867,889 )   $ (425,642 )
                 
Depreciation and amortization                
 Marketplace platform   $ 164,522     $ 104,710  
 Services            
    $ 164,522     $ 104,710  
                 
Interest Expenses                
 Marketplace platform   $ 4,191,630     $  
 Services           516  
    $ 4,191,630     $ 516  
                 
Net income (loss)                
 Marketplace platform   $ (5,237,975 )   $ (646,152 )
 Services     290,541       237,994  
    $ (4,947,434 )   $ (408,158 )

 

    As of     As of  
    December 31,     September 30,  
    2014     2014  
Total Assets                
 Marketplace platform   $ 17,677,558     $ 18,118,425  
 Services     202,630       171,021  
    $ 17,880,188     $ 18,289,446  
                 
Intangible assets                
 Marketplace platform   $ 5,607,012     $ 4,234,692  
 Services     5,816       6,422  
    $ 5,612,828     $ 4,241,114