|3 Months Ended|
Mar. 31, 2017
|Segment Reporting [Abstract]|
NOTE 5 – SEGMENT REPORTING
The Company operated in two segments: Digital Media and Restaurant, which provide different products or services.
Digital Media Segment - Through our wholly owned subsidiaries SPYR APPS, LLC and SPYR APPS Oy, we develop, publish and co-publish mobile games, and then generate revenue through those games by way of advertising and in-app purchases.
Restaurant Segment - Through our wholly owned subsidiary E.A.J.: PHL, Airport, Inc. we owned and operated one “American Diner” theme restaurant called “Eat at Joe’s ® located in the Philadelphia International Airport. Eat at Joe’s ® menu included a variety of dishes including omelets, waffles and hotcakes, sandwiches, hot dogs, burgers, traditional Philly Steak sandwiches, custom wraps, fresh salads and a full complement of beverages and deserts, all made with top quality, fresh ingredients and all prepared to order.
Our lease in the Philadelphia Airport expired in April 2017 and will not be renewed. Concurrent with expiration of the lease the restaurant closed. The Company’s plan is to divest itself from its restaurant division and is considering spinning off the business, and issue a stock dividend to its shareholders; however, there is no assurance this can be completed. The Company is also exploring opportunities to license or franchise the name “Eat at Joe’s®” as well as merger and acquisition targets of other businesses in the food service industries. Pursuant to current accounting guidelines, the Company will report the restaurant segment as a discontinued operations starting in April 2017.
Revenue and expenses earned and charged between segments are eliminated in consolidation. Corporate expenses, interest income, interest expense, gains and losses on trading or marketable securities and income taxes are managed on a total company basis.
Information related to these segments is as follows:
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.
Reference 1: http://www.xbrl.org/2003/role/presentationRef