Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.5.0.2
Segment Reporting
9 Months Ended
Sep. 30, 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
NINE MONTHS ENDED SEPTEMBER 30, 2016
(Unaudited)
                 
    Digital Media   Restaurants   Corporate   Consolidated
                 
Revenues   $ 88,232     $ 1,049,742     $ —       $ 1,137,974  
Cost of sales     —         323,830       —         323,830  
General and administrative     1,522,486       703,359       2,242,250       4,468,095  
Depreciation and amortization     22,986       52,165       35,466       110,617  
Operating loss   $ (1,457,240 )   $ (29,612 )   $ (2,277,716 )   $ (3,764,568 )
                                 
                                 
Current assets   $ 78,950     $ 327,253     $ 3,903,769     $ 4,309,972  
Property and equipment, net     6,096       44,559       186,635       237,290  
Intangible assets     —         —         18,606       18,606  
Deposit on acquisition     471,574       —         —         471,574  
Other non-current assets     267,500       16,610       5,689       289,799  
Total assets   $ 824,120     $ 388,422     $ 4,114,699     $ 5,327,241  

 

REPORTABLE SEGMENTS
NINE MONTHS ENDED SEPTEMBER 30, 2015
(Unaudited)
                 
    Digital Media   Restaurants   Corporate   Consolidated
                 
Revenues   $ 6,040     $ 1,217,635     $ —       $ 1,223,675  
Cost of sales     —         358,248       —         358,248  
General and administrative     237,950       676,125       3,528,904       4,442,979  
Depreciation and amortization     —         55,720       11,092       66,812  
Operating income (loss)   $ (231,910 )   $ 127,542     $ (3,539,996 )   $ (3,644,364 )
                                 
                                 
Current assets   $ 28,374     $ 271,126     $ 8,185,228     $ 8,484,728  
Property and equipment, net     6,715       115,445       129,826       251,986  
Intangible assets     —         —         25,202       25,202  
Other non-current assets     —         16,610       5,689       22,299  
Total assets   $ 35,089     $ 403,181     $ 8,345,945     $ 8,784,215  

  

REPORTABLE SEGMENTS
THREE MONTHS ENDED SEPTEMBER 30, 2016
(Unaudited)
                 
    Digital Media   Restaurants   Corporate   Consolidated
                 
Revenues   $ 23,313       407,929     $ —       $ 431,242  
Cost of sales     —         131,210       —         131,210  
General and administrative     698,900       235,192       1,148,485       2,082,577  
Depreciation and amortization     7,693       15,164       12,015       34,872  
Operating income (loss)   $ (683,280 )   $ 26,363     $ (1,160,500 )   $ (1,817,417 )

 

REPORTABLE SEGMENTS
THREE MONTHS ENDED SEPTEMBER 30, 2015
(Unaudited)
                 
    Digital Media   Restaurants   Corporate   Consolidated
                 
Revenues   $ 6,040     $ 444,507     $ —       $ 450,547  
Cost of sales     —         155,083       —         155,083  
General and administrative     143,379       254,207       379,579       777,165  
Depreciation and amortization     —         19,146       5,682       24,828  
Operating income (loss)   $ (137,339 )   $ 16,071     $ (385,261 )   $ (506,529 )