Segment Information

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Segment Information

Note 14 - Segment Information

We have three reporting segments and corporate overhead:

 � Northeastern Plastics ("NPI") - a wholly-owned subsidiary, is a supplier of automotive after-market products and consumer durable goods products to retailers and wholesalers in the automotive after-market and in the consumer durable electrical products markets;

 � Delta Seaboard International ("Delta") - a 46.4% owned subsidiary, is an onshore rig-based well-servicing contracting company providing services to the oil and gas industry;

 � American International Texas Properties, Inc. ("AITP") - a wholly-owned real estate subsidiary, with real estate holdings in Harris, Galveston, and Waller Counties in Texas.

 � Corporate overhead - American's investment holdings including financing current operations and expansion of its current holdings as well as evaluating the feasibility of entering into additional businesses.  Corporate overhead also includes Brenham Oil & Gas ("BOG"), a division that currently owns minimal oil, gas and mineral royalty interests. Through Brenham Oil & Gas, American is engaged in negotiations with financial institutions for the purpose of financing potential acquisitions of existing oil and gas properties and reserves. The Company is seeking to acquire a portfolio of oil and gas assets in North America and West Africa and large oil concessions in West Africa. American owns 58,680,074 shares of common stock, representing 53.2% of BOG's total outstanding shares.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. American evaluates performances based on profit or loss from operations before income taxes, not including nonrecurring gains and losses and foreign exchange gains and losses.  American's reportable segments are strategic business units that offer different technology and marketing strategies. Most of the businesses were acquired as subsidiaries and the management at the time of the acquisition was retained.  American's areas of operations are principally in the United States. No single foreign country or geographic area is significant to the consolidated financial statements.

Consolidated revenues from external customers, operating income (loss), depreciation and amortization expense, interest expense, capital expenditures, non-cash transactions, and identifiable assets were as follows:

	Years Ended December 31,
	2011			2010
Revenues:
Northeastern Plastics	$	10,432,044		$	14,460,039
Delta Seaboard		11,293,189			9,023,129
Brenham Oil & Gas		1,389			1,678
Total revenues	$	21,726,622		$	23,484,846
Operating income (loss) from continuing operations:
Northeastern Plastics	$	101,701		$	878,608
Delta Seaboard		(216,646	)		(1,646,320	)
AITP		1,608,806			-
Corporate		(3,583,846	)		(1,760,850	)
Operating loss from continuing operations		(2,089,985	)		(2,528,562	)
Other expense from continuing operations		(1,214,092	)		677,451
Net income from continuing operations before income tax	$	(3,304,077	)	$	(1,851,111	)
Depreciation and amortization:
Northeastern Plastics	$	58,825		$	59,778
Delta Seaboard		408,635			392,606
Corporate		6,037			9,119
Total depreciation and amortization	$	473,497		$	461,503

	Years Ended December 31,
	2011		2010
Interest expense:
Northeastern Plastics	$	224,578	$	116,767
Delta Seaboard		147,525		146,452
Corporate		105,352		196,217
Total interest expense	$	477,455	$	459,436
Capital expenditures:
Northeastern Plastics	$	5,291	$	8,234
Delta Seaboard		397,557		166,883
Total capital expenditures	$	402,848	$	175,117
Non-cash investing and financing transactions:
Delta
Accounts payable and dividends payable assumed in Delta reverse merger transaction	$	-	$	597,131
Delta dividends declared and unpaid	$	240,000	$	240,000
Financing of prepaid insurance	$	244,970	$	250,753
Fixed assets placed in service reclassified from other assets	$	48,009	$	-
Financing of fixed assets	$	75,952	$	-
VOMF settlement recorded as deemed dividend for Delta	$	250,000	$	-
BOG
Issuance of BOG stock for oil & gas properties	$	8,400	$	-
Corporate
Unrealized loss on marketable securities	$	122,200	$	1,275,000
Receipt of common stock to convert promissory note due from Delta	$	-	$	872,352
Adjustment to noncontrolling interest in Delta and BOG	$	27,647	$	296,671
Note receivable issued for common stock of DCP	$	-	$	55,000
Real estate held for sale acquired by foreclosure on note receivable	$	3,701,824	$	66,304
Issuance of note receivable for interest receivable balance	$	-	$	100,000
Note payable issued for lawsuit settlement	$	400,000	$	-
Stock issued to related party for subscription receivable	$	72,000	$	-
Stock issued to related party for real estate held for sale	$	520,382	$	-
SET receivable from closure of certificate of deposit	$	532,500	$	-
Preferred stock issued to officer as guarantor fee	$	49,463	$	-

	December 31, 2011		December 31, 2010
Identifiable assets:
Northeastern Plastics	$	6,725,241	$	8,679,492
Delta		5,285,026		6,112,938
AITP		8,042,142		-
Corporate		814,117		10,859,051
Assets held for sale		-		239,380
Total identifiable assets	$	20,866,526	$	25,890,861