Annual report pursuant to Section 13 and 15(d)

Segment Reporting

v3.3.1.900
Segment Reporting
12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Segment Reporting

NOTE 9 – SEGMENT REPORTING

 

The Company operated in one segment during 2014, but concurrent with the organization of SPYR APPS, LLC on March 24, 2015, we operate in two segments: Digital Media and Restaurant, which provide different products or services.

 

Digital Media Segment - Through our wholly owned subsidiary SPYR APPS, LLC, 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 own and operate one “American Diner” theme restaurant called “Eat at Joe’s ® located in the Philadelphia International Airport. Eat at Joe’s menu includes 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.

 

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:

 

REPORTABLE SEGMENTS
YEAR ENDED DECEMBER 31, 2015
 
                 
      Digital Media       Restaurants       Corporate       Consolidated  
                                 
                                 
Revenues   $ 6,153     $ 1,590,659     $ —       $ 1,596,812  
Cost of sales     —         472,986       —         472,986  
General and administrative     414,070       916,801       3,675,656       5,006,527  
Depreciation and amortization     —         74,441       23,526       97,967  
Operating income (loss)   $ (407,917 )   $ 126,431     $ (3,699,182 )   $ (3,980,668 )
                                 
                                 
Current assets     112,405     $ 283,552     $ 6,988,565     $ 7,384,522  
Fixed assets     —         96,724       178,162       274,886  
Intangible assets     —         —         21,307       21,307  
Other non-current assets     —         16,610       5,689       22,299  
Total assets   $ 112,405     $ 396,886     $ 7,193,723     $ 7,703,014  

  

REPORTABLE SEGMENTS
YEAR ENDED DECEMBER 31, 2014
 
                 
      Digital Media       Restaurants       Corporate       Consolidated  
                                 
                                 
Revenues   $ —       $ 1,450,887     $ —       $ 1,450,887  
Cost of sales     —         510,089       —         510,089  
General and administrative     —         804,937       4,253,662       5,058,599  
Depreciation and amortization     —         72,048       —         72,048  
Operating Loss   $ —       $ 63,813     $ (4,253,662 )   $ (4,189,849 )
                                 
                                 
Current assets     —       $ 220,855     $ 12,879,694     $ 13,100,549  
Fixed assets     —         155,250       —         155,250  
Intangible assets     —         —         5,000       5,000  
Other non-current assets     —         15,000       —         15,000  
Total assets   $ —       $ 391,105     $ 12,884,694     $ 13,275,799