| Summarized financial information |
| |
|
3 Months Ended September 30, 2015 |
|
| |
|
Hydroponic |
|
|
Cannabis |
|
|
Eliminations |
|
|
|
|
| |
|
Produce |
|
|
Products |
|
|
and Other |
|
|
Total |
|
| Total Revenues |
|
$ |
1,597,378 |
|
|
$ |
420,973 |
|
|
$ |
- |
|
|
$ |
2,018,351 |
|
| Cost of Goods Sold |
|
|
1,370,804 |
|
|
|
290,256 |
|
|
|
(12,515 |
) |
|
|
1,648,545 |
|
| |
|
|
226,574 |
|
|
|
130,717 |
|
|
|
12,515 |
|
|
|
369,806 |
|
| Selling, general and administrative expenses |
|
|
441,177 |
|
|
|
164,970 |
|
|
|
1,493,167 |
|
|
|
2,099,314 |
|
| Loss from operations |
|
|
(214,603 |
) |
|
|
(34,253 |
) |
|
|
(1,480,652 |
) |
|
|
(1,729,508 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of debt discount |
|
|
- |
|
|
|
- |
|
|
|
(258,306 |
) |
|
|
(258,306 |
) |
| Loss on extinguishment of debt |
|
|
- |
|
|
|
- |
|
|
|
(263,950 |
) |
|
|
(263,950 |
) |
| Loss from derivatives issued with debt greater than debt carrying value |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Gain (Loss) on fair market valuation of derivatives |
|
|
- |
|
|
|
- |
|
|
|
372,400 |
|
|
|
372,400 |
|
| Interest Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(108,563 |
) |
|
|
(108,563 |
) |
| Total Other Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(258,419 |
) |
|
|
(258,419 |
) |
| Loss before Provision of Income Taxes |
|
$ |
(214,603 |
) |
|
$ |
(34,253 |
) |
|
$ |
(1,739,071 |
) |
|
$ |
(1,987,927 |
) |
| |
|
3 Months Ended September 30, 2014 |
|
| |
|
Hydroponic |
|
|
Cannabis |
|
|
Eliminations |
|
|
|
|
| |
|
Produce |
|
|
Products |
|
|
and Other |
|
|
Total |
|
| Total Revenues |
|
$ |
1,311,850 |
|
|
$ |
- |
|
|
$ |
3,123 |
|
|
$ |
1,314,973 |
|
| Cost of Goods Sold |
|
|
1,247,308 |
|
|
|
- |
|
|
|
3,727 |
|
|
|
1,251,035 |
|
| |
|
|
64,542 |
|
|
|
- |
|
|
|
(604 |
) |
|
|
63,938 |
|
| Selling, general and administrative expenses |
|
|
344,209 |
|
|
|
517,459 |
|
|
|
7,173,503 |
|
|
|
8,035,171 |
|
| Loss from operations |
|
|
(279,667 |
) |
|
|
(517,459 |
) |
|
|
(7,174,107 |
) |
|
|
(7,971,233 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from derivatives issued with debt greater than debt carrying value |
|
|
- |
|
|
|
- |
|
|
|
(2,248,000 |
) |
|
|
(2,248,000 |
) |
| Gain (Loss) on fair market valuation of derivatives |
|
|
- |
|
|
|
- |
|
|
|
1,085,505 |
|
|
|
1,085,505 |
|
| Interest Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(387,720 |
) |
|
|
(387,720 |
) |
| Total Other Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(1,550,215 |
) |
|
|
(1,550,215 |
) |
| Loss before Provision of Income Taxes |
|
$ |
(279,667 |
) |
|
$ |
(517,459 |
) |
|
$ |
(8,724,322 |
) |
|
$ |
(9,521,448 |
) |
| |
|
9 Months Ended September 30, 2015 |
|
| |
|
Hydroponic |
|
|
Cannabis |
|
|
Eliminations |
|
|
|
|
| |
|
Produce |
|
|
Products |
|
|
and Other |
|
|
Total |
|
| Total Revenues |
|
$ |
6,832,805 |
|
|
$ |
852,745 |
|
|
$ |
120,444 |
|
|
$ |
7,805,994 |
|
| Cost of Goods Sold |
|
|
6,266,858 |
|
|
|
569,417 |
|
|
|
108,584 |
|
|
|
6,944,859 |
|
| |
|
|
565,947 |
|
|
|
283,328 |
|
|
|
11,860 |
|
|
|
861,135 |
|
| Selling, general and administrative expenses |
|
|
1,373,976 |
|
|
|
721,104 |
|
|
|
5,697,365 |
|
|
|
7,792,445 |
|
| Loss from operations |
|
|
(808,029 |
) |
|
|
(437,776 |
) |
|
|
(5,685,505 |
) |
|
|
(6,931,310 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of debt discount |
|
|
- |
|
|
|
- |
|
|
|
(524,161 |
) |
|
|
(524,161 |
) |
| Loss on extinguishment of debt |
|
|
- |
|
|
|
- |
|
|
|
(263,950 |
) |
|
|
(263,950 |
) |
| Loss from derivatives issued with debt greater than debt carrying value |
|
|
- |
|
|
|
- |
|
|
|
(561,000 |
) |
|
|
(561,000 |
) |
| Gain (Loss) on fair market valuation of derivatives |
|
|
- |
|
|
|
- |
|
|
|
1,779,600 |
|
|
|
1,779,600 |
|
| Interest Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
(426,793 |
) |
|
|
(426,793 |
) |
| Total Other Income (Expense) |
|
|
- |
|
|
|
- |
|
|
|
3,696 |
|
|
|
3,696 |
|
| Loss before Provision of Income Taxes |
|
$ |
(808,029 |
) |
|
$ |
(437,776 |
) |
|
$ |
(5,681,809 |
) |
|
$ |
(6,927,614 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets at September 30, 2015 |
|
$ |
5,645,677 |
|
|
$ |
1,105,796 |
|
|
$ |
1,887,156 |
|
|
$ |
8,638,629 |
|
| |
|
9 Months Ended September 30, 2014 |
|
| |
|
Hydroponic |
|
|
Cannabis |
|
|
Eliminations |
|
|
|
|
| |
|
Produce |
|
|
Products |
|
|
and Other |
|
|
Total |
|
| Total Revenues |
|
$ |
5,465,186 |
|
|
$ |
- |
|
|
$ |
121,907 |
|
|
$ |
5,587,093 |
|
| Cost of Goods Sold |
|
|
5,488,662 |
|
|
|
- |
|
|
|
132,040 |
|
|
|
5,620,702 |
|
| |
|
|
(23,476 |
) |
|
|
- |
|
|
|
(10,133 |
) |
|
|
(33,609 |
) |
| Selling, general and administrative expenses |
|
|
1,026,825 |
|
|
|
517,459 |
|
|
|
12,586,769 |
|
|
|
14,131,053 |
|
| Loss from operations |
|
|
(1,050,301 |
) |
|
|
(517,459 |
) |
|
|
(12,596,902 |
) |
|
|
(14,164,662 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from derivatives issued with debt greater than debt carrying value |
|
|
- |
|
|
|
- |
|
|
|
(4,808,000 |
) |
|
|
(4,808,000 |
) |
| Gain (Loss) on fair market valuation of derivatives |
|
|
- |
|
|
|
- |
|
|
|
817,680 |
|
|
|
817,680 |
|
| Interest Income (Expense) |
|
|
2,601 |
|
|
|
- |
|
|
|
(840,634 |
) |
|
|
(838,033 |
) |
| Total Other Income (Expense) |
|
|
2,601 |
|
|
|
- |
|
|
|
(4,830,954 |
) |
|
|
(4,828,353 |
) |
| Loss before Provision of Income Taxes |
|
$ |
(1,047,700 |
) |
|
$ |
(517,459 |
) |
|
$ |
(17,427,856 |
) |
|
$ |
(18,993,015 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets at September 30, 2014 |
|
$ |
5,587,047 |
|
|
$ |
2,000,990 |
|
|
$ |
2,315,645 |
|
|
$ |
9,903,682 |
|
|