Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.7.0.1
Segment Information
3 Months Ended
Mar. 31, 2017
Segment Information [Abstract]  
Segment Information

Note 16 - Segment Information

 

The accounting standards for reporting information about operating segments define operating segments as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Company is organized by line of business. While the Chief Executive Officer evaluates results in a number of different ways, the line of business management structure is the primary basis for which the allocation of resources and financial results are assessed. Under the aforementioned criteria, the Company operates in three operating and reporting segments: remediation, demolition and insulation.

 

Cross Remediation is one segment of the Company that derives its income from mold remediation and abatement services for a broad range of environments. Cross Demolition offers full scale commercial demolition and wrecking down to interior and selective demolition and strip down services. Our third segment, Cross Insulation, derives its revenue from re-insulation and insulation of new and remodeling projects.

 

The information provided below is obtained from internal information that is provided to the Company’s chief operating decision maker for the purpose of corporate management. The Company uses net operating profit/(loss) to measure segment performance as recorded below:

 

    For the three months ended  
    March 31, 2017     March 31, 2016  
Remediation Segment            
                 
Revenue   $ 1,537,577     $ 2,563,892  
Cost of Revenues     1,178,172       1,479,190  
Gross Profit     359,405       1,084,702  
                 
General & Administrative Expense     393,302       350,036  
Allocated CES Admin. Expenses     273,732       360,353  
Other Expense     (3,472 )     (7,775 )
                 
Net Profit/(Loss) from Segment   $ (311,101 )   $ 382,088  

 

    For the three months ended  
    March 31, 2017     March 31, 2016  
Demolition Segment            
                 
Revenue   $ 1,552,511     $ 1,302,019  
Cost of Revenues     1,090,459       1,080,935  
Gross Profit     462,052       221,084  
                 
General & Administrative Expense     205,689       183,256  
Allocated CES Admin. Expenses     302,378       216,859  
Other Expense     1,307       (2,201 )
                 
Net Loss from Segment   $ (47,322 )   $ (176,830 )

 

    For the three months ended  
    March 31, 2017     March 31, 2016  
Insulation Segment            
                 
Revenue   $ 82,000     $ 134,898  
Cost of Revenues     81,926       79,858  
Gross Profit     74       55,040  
                 
General & Administrative Expense     29,413       20,813  
Allocated CES Admin. Expenses     15,971       7,848  
Other Income     31       -  
                 
Net Profit/(Loss) from Segment   $ (45,341 )   $ 26,379