Blüm Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2016

Summarized financial information concerning the Company’s reportable segments is shown in the following tables. Total asset amounts at December 31, 2016, 2015 and 2014 exclude intercompany receivable balances eliminated in consolidation.

	Year Ended December 31, 2016
	Hydroponic Produce			Cannabis Products			Eliminations and Other			Total

Total Revenues	$	12,000,423		$	13,207,327		$	120,014		$	25,327,764
Cost of Goods Sold		11,021,449			11,664,737			68,894			22,755,080

Gross Profit		978,974			1,542,590			51,120			2,572,684

Selling, General and Administrative Expenses		2,520,061			5,729,884			12,470,590			20,720,535

Loss from Operations		(1,541,087	)		(4,187,294	)		(12,419,470	)		(18,147,851	)

Other Expense:
Amortization of Debt Discount		–			–			(1,414,202	)		(1,414,202	)
Loss on Extinguishment of Debt		–			–			(5,382,813	)		(5,382,813	)
Loss from Derivatives Issued with Debt Greater than Debt Carrying Value		–			–			(1,487,500	)		(1,487,500	)
Loss on Fair Market Valuation of Derivatives		–			–			(1,844,500	)		(1,844,500	)
Interest Income (Expense)		–			–			(377,349	)		(377,349	)
Gain on Fair Market Valuation of Contingent Consideration		–			–			668,694			668,694

Total Other Expense		–			–			(9,837,670	)		(9,837,670	)

Loss Before Provision for Income Taxes	$	(1,541,087	)	$	(4,187,294	)	$	(22,257,140	)	$	(27,985,521	)

Total Assets at December 31, 2016	$	7,064,697		$	12,516,441		$	56,597,592		$	76,178,730

	Year Ended December 31, 2015
	Hydroponic Produce			Cannabis Products			Eliminations and Other			Total

Total Revenues	$	8,633,538		$	1,207,424		$	134,384		$	9,975,346
Cost of Goods Sold		7,771,039			1,078,852			108,584			8,958,475

Gross Profit		862,499			128,572			25,800			1,016,871

Selling, General and Administrative Expenses		1,910,375			763,728			7,159,543			9,833,646

Loss from Operations		(1,047,876	)		(635,156	)		(7,133,743	)		(8,816,775	)

Other Expense:
Amortization of Debt Discount		–			–			(696,180	)		(696,180	)
Loss on Extinguishment of Debt		–			–			(619,444	)		(619,444	)
Loss from Derivatives Issued with Debt Greater than Debt Carrying Value		–			–			(561,000	)		(561,000	)
Gain on Fair Market Valuation of Derivatives		–			–			1,800,100			1,800,100
Interest Expense		–			–			(469,576	)		(469,576	)

Total Other Expense		–			–			(546,100	)		(546,100	)

Loss Before Provision for Income Taxes	$	(1,047,876	)	$	(635,156	)	$	(7,679,843	)	$	(9,362,875	)

Total Assets at December 31, 2015	$	5,383,659		$	1,671,966		$	2,109,414		$	9,165,039

	Year Ended December 31, 2014
	Hydroponic Produce			Cannabis Products			Eliminations and Other			Total

Total Revenues	$	6,627,109		$	–		$	467,161		$	7,094,270
Cost of Goods Sold		6,667,967			–			273,311			6,941,278
					–
Gross Profit (Loss)		(40,858	)		–			193,850			152,992

Selling, General and Administrative Expenses		1,506,684			1,115,577			15,718,986			18,341,247

Loss from Operations		(1,547,542	)		(1,115,577	)		(15,525,136	)		(18,188,255	)

Other Income (Expense):
Loss from Derivatives Issued with Debt Greater than Debt Carrying Value		–			–			(4,808,000	)		(4,808,000	)
Gain on Fair Market Valuation of Derivatives		–			–			1,912,037			1,912,037
Interest Income (Expense)		2,232			–			(1,098,556	)		(1,096,324	)

Total Other Income (Expense)		2,232			–			(3,994,519	)		(3,992,287	)

Loss Before Provision for Income Taxes	$	(1,545,310	)	$	(1,115,577	)	$	(19,519,655	)	$	(22,180,542	)

Total Assets at December 31, 2014	$	5,956,861		$	858,180		$	904,185		$	7,719,226