Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.4.0.3
Segment Reporting
3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Segment Reporting

NOTE 6 – SEGMENT REPORTING

 

The Company operated in one segment as of the beginning of 2015, but concurrent with the organization of SPYR APPS, LLC on March 24, 2015, it operates 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. The Company also recognizes revenues from fees received pursuant to licensing rights acquired during 2015 for two gaming applications.

 

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
THREE MONTHS ENDED MARCH 31, 2016
 
                 
      Digital Media       Restaurants       Corporate       Consolidated  
                                 
                                 
Revenues   $ 35,327     $ 297,062     $ —       $ 332,389  
Cost of sales     —         97,484       —         97,484  
General and administrative     333,809       238,490       588,735       1,161,034  
Depreciation and amortization     7,500       18,721       11,436       37,657  
Operating loss   $ (305,982 )   $ (57,633 )   $ (600,171 )   $ (963,786 )
                                 
                                 
Current assets     136,687     $ 245,652     $ 6,462,620     $ 6,844,959  
Property and equipment, net     —         78,003       208,136       286,139  
Intangible assets     —         —         20,407       20,407  
Other non-current assets     —         16,610       5,689       22,299  
Total assets   $ 136,687     $ 340,265     $ 6,696,852     $ 7,173,804  

  

 

REPORTABLE SEGMENTS
THREE MONTHS ENDED MARCH 31, 2015
                 
      Digital Media       Restaurants       Corporate       Consolidated  
                                 
                                 
Revenues   $ —       $ 331,921     $ —       $ 331,921  
Cost of sales     —         100,588       —         100,588  
General and administrative     —         274,099       1,894,805       2,168,904  
Depreciation and amortization     —         17,797       905       18,702  
Operating Loss   $ —       $ (60,563 )   $ (1,895,710 )   $ (1,956,273 )
                                 
                                 
Current assets     —       $ 200,543     $ 10,666,526     $ 10,867,069  
Property and equipment, net     —         149,647       7,074       156,721  
Intangible assets     —         —         25,202       25,202  
Other non-current assets     —         15,000       5,689       20,689  
Total assets   $ —       $ 365,190     $ 10,704,491     $ 11,069,681