CONSOLIDATED SEGMENT DATA

12 Months Ended

Dec. 31, 2015

CONSOLIDATED SEGMENT DATA [Text Block]

21. CONSOLIDATED SEGMENT DATA

Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. Transfers and sales between reportable segments, if any, are recorded at cost.

Selected information by segment is presented in the following tables for the years ended December 31, 2015, 2014 and 2013.

		2015		2014		2013
Revenues (1)
TIT Segment	$	2,970,952	$	13,024,506	$	7,699,309
CBT Segment		7,313,916		25,610,241		47,720,522
	$	10,284,868	$	38,634,747	$	55,419,831

⁽¹⁾ Revenues by operating segments exclude intercompany transactions.

		2015			2014			2013
Loss from operations:
TIT Segment	$	(2,593,743	)	$	(7,675,174	)	$	(72,465,226	)
CBT Segment		(22,238,917	)		(14,876,016	)		(45,416,341	)
Corporate and others (2)		(2,130,697	)		(1,358,023	)		(333,801	)
Loss from operations		(26,963,357	)		(23,909,213	)		(118,215,368	)
Corporate other (expenses) income, net		31,271,674			268,543			2,732,946
Corporate interest income		76,716			408,121			447,586
Corporate interest expense		(3,116,777	)		(5,858,770	)		(4,934,479	)
Corporate warrant expense		(5,657,988	)		-			-
Loss from continuing operations before income taxes		(4,389,732	)		(29,091,319	)		(119,969,315	)
Income tax benefit (expense)		(4,305,028	)		4,599,559			(1,731,145	)
Loss from continuing operations		(8,694,760	)		(24,491,760	)		(121,700,460	)
Income (loss) from discontinued operations, net of taxes		1,498,971			(5,260,538	)		(505,567	)
Net loss		(7,195,789	)		(29,752,298	)		(122,206,027	)
Net lo ss attributable to the non-controlling interest		(308,473	)		520,951			2,969,204
Net loss attributable to the Company	$	(7,504,262	)	$	(29,231,347	)	$	(119,236,823	)

⁽²⁾ Includes non-cash compensation, professional fees and consultancy fees for the Company.

Non-cash employee compensation by segment as of December 31, 2015, 2014 and 2013 are as follows:

		2015		2014		2013
Non-cash employee compensation:
TIT Segment	$	-	$	81,615	$	575,000
CBT Segment		-		-		6,325,000
Corporate and others		102,282		-		-
	$	102,282	$	81,615	$	6,900,000

Depreciation and amortization by segment for the years ended December 31, 2015, 2014 and 2013 are as follows:

		2015		2014		2013
Depreciation and amortization:
TIT Segment	$	90,379	$	420,556	$	3,492,732
CBT Segment		2,332,037		2,513,790		5,470,520
Corporate and others		119,078		119,078		104,165
	$	2,541,494	$	3,053,424	$	9,067,417
		2015		2014		2013
Provisions for losses on accounts receivable:
TIT Segment	$	910,824	$	3,102,627	$	36,383,487
CBT Segment		1,748,675		3,287,604		30,655,158
Corporate and others		-		8,232		-
	$	2,659,499	$	6,398,463	$	67,038,645
		2015		2014		2013
Inventory (recovery) provision:
TIT Segment	$	226,943	$	308,683	$	(51,509	)
CBT Segment		47,720		3,499,624		933,425
	$	274,663	$	3,808,307	$	881,916
		2015		2014		2013
Impairment of intangible assets and goodwill
TIT Segment	$	7,851,987	$	4,685,843	$	-
CBT Segment		1,066,440		2,329,884		2,008,249
	$	8,918,427	$	7,015,727	$	2,008,249
		2015		2014		2013
Impairment of property, plant and equipment
TIT Segment	$	-	$	-	$	14,024,289
CBT Segment		4,616,679		827,319		15,952,701
	$	4,616,679	$	827,319	$	29,976,990

Total assets by segment as at December 31, 2015, 2014 and 2013 are as follows:

		2015		2014
Total assets
TIT Segment	$	19,803,442	$	30,120,023
CBT Segment		32,651,184		86,444,794
Corporate and others		364,892		1,236,137
Assets from discontinued operations		13,272,186		60,152,454
	$	66,091,704	$	179,405,809