Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.5.0.2
Segment Reporting
6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Segment Reporting

NOTE 5 – 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
SIX MONTHS ENDED JUNE 30, 2016
(Unaudited)
                 
    Digital Media   Restaurants   Corporate   Consolidated
                 
Revenues   $ 64,919     $ 641,813     $ —       $ 706,732  
Cost of sales     —         192,620       —         192,620  
General and administrative     823,586       468,167       1,093,765       2,385,518  
Depreciation and amortization     15,293       37,001       23,451       75,745  
Operating loss   $ (773,960 )   $ (55,975 )   $ (1,117,216 )   $ (1,947,151 )
                                 
                                 
Current assets   $ 153,376     $ 270,966     $ 5,340,902     $ 5,765,244  
Property and equipment, net     6,426       59,723       197,750       263,899  
Intangible assets     —         —         19,506       19,506  
Deferred acquisition costs     471,574       —         —         471,574  
Other non-current assets     —         16,610       5,689       22,299  
Total assets   $ 631,376     $ 347,299     $ 5,563,847     $ 6,542,522  

 

REPORTABLE SEGMENTS
SIX MONTHS ENDED JUNE 30, 2015
(Unaudited)
                 
    Digital Media   Restaurants   Corporate   Consolidated
                 
Revenues   $ —       $ 773,128     $ —       $ 773,128  
Cost of sales     —         203,165       —         203,165  
General and administrative     94,571       421,918       3,149,325       3,665,814  
Depreciation and amortization     —         36,574       5,410       41,984  
Operating Loss   $ (94,571 )   $ 111,471     $ (3,154,735 )   $ (3,137,835 )
                                 
                                 
Current assets   $ 50,911     $ 234,402     $ 9,457,434     $ 9,742,747  
Property and equipment, net     —         134,591       118,590       253,181  
Intangible assets     —         —         25,202       25,202  
Other non-current assets     —         16,610       5,689       22,299  
Total assets   $ 50,911     $ 385,603     $ 9,606,915     $ 10,043,429  

 

REPORTABLE SEGMENTS
THREE MONTHS ENDED JUNE 30, 2016
(Unaudited)
                 
    Digital Media   Restaurants   Corporate   Consolidated
                 
Revenues   $ 29,592     $ 344,751     $ —       $ 374,343  
Cost of sales     —         95,136       —         95,136  
General and administrative     489,777       229,677       505,030       1,224,484  
Depreciation and amortization     7,793       18,280       12,015       38,088  
Operating income (loss)   $ (467,978 )   $ 1,658     $ (517,045 )   $ (983,365 )

  

REPORTABLE SEGMENTS
THREE MONTHS ENDED JUNE 30, 2015
(Unaudited)
                 
    Digital Media   Restaurants   Corporate   Consolidated
                 
Revenues   $ —       $ 441,207     $ —       $ 441,207  
Cost of sales     —         102,577       —         102,577  
General and administrative     94,571       147,819       1,254,520       1,496,910  
Depreciation and amortization     —         18,777       4,505       23,282  
Operating Loss   $ (94,571 )   $ 172,034     $ (1,259,025 )   $ (1,181,562 )