Quarterly report pursuant to Section 13 or 15(d)

NOTE 4: SEGMENT INFORMATION (Tables)

v3.5.0.2
NOTE 4: SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block] The following is information about reported segment revenues, income (losses) and total assets for the six and three months ended June 30, 2016 and 2015:

 
 
Training and
Simulation
Division
   
Power Systems
Division
   
Flow Battery Division
   
Corporate
Expenses
   
Total
Company
 
Six months ended June 30, 2016
                             
Revenues from outside customers
 
$
24,647,137
   
$
22,539,221
   
$
   
$
   
$
47,186,358
 
Depreciation, amortization and impairment expenses(1)
   
(549,027
)
   
(1,775,382
)
   
     
(10,257
)
   
(2,334,666
)
Direct expenses(2)
   
(20,422,716
)
   
(20,765,715
)
   
(492,485
)
   
(3,490,364
)
   
(45,171,280
)
Segment net income (loss)
 
$
3,675,394
   
$
(1,876
)
 
$
(492,485
)
 
$
(3,500,621
)
 
$
(319,588
)
Financial income (expense)
   
(14,811
)
   
(35,027
)
   
     
(492,016
)
   
(541,854
)
Income tax expense
   
(93,630
)
   
(109,361
)
   
     
(379,289
)
   
(582,280
)
Net income (loss)
 
$
3,566,953
   
$
(146,264
)
 
$
(492,485
)
 
$
(4,371,926
)
 
$
(1,443,722
)
Segment assets(3)
 
$
43,752,823
   
$
59,158,134
   
$
   
$
8,450,523
   
$
111,361,480
 
Additions to long-lived assets
 
$
165,066
   
$
666,329
   
$
   
$
   
$
831,395
 
Six months ended June 30, 2015
                                       
Revenues from outside customers
 
$
26,322,683
   
$
19,548,250
   
$
   
$
   
$
45,870,933
 
Depreciation, amortization and impairment expenses(1)
   
(415,021
)
   
(2,055,058
)
   
     
(12,406
)
   
(2,482,485
)
Direct expenses(2)
   
(22,028,902
)
   
(20,418,131
)
   
(328,108
)
   
(2,158,225
)
   
(44,933,366
)
Segment net income (loss)
 
$
3,878,760
   
$
(2,924,939
)
 
$
(328,108
)
 
$
(2,170,631
)
 
$
(1,544,918
)
Financial income (expense)
   
(24,841
)
   
14,194
     
     
(560,358
)
   
(571,005
)
Income tax expense
   
(178,476
)
   
     
     
(431,248
)
   
(609,724
)
Net income (loss)
 
$
3,675,443
   
$
(2,910,745
)
 
$
(328,108
)
 
$
(3,162,237
)
 
$
(2,725,647
)
Segment assets(3)
 
$
58,443,856
   
$
60,477,131
   
$
   
$
518,594
   
$
119,439,581
 
Additions to long-lived assets
 
$
398,114
   
$
701,728
   
$
   
$
4,502
   
$
1,104,344
 
Three months ended June 30, 2016
                                       
Revenues from outside customers
 
$
11,346,295
   
$
10,433,582
   
$
   
$
   
$
21,779,877
 
Depreciation, amortization and impairment expenses(1)
   
(276,367
)
   
(874,491
)
   
     
(8,770
)
   
(1,159,628
)
Direct expenses(2)
   
(9,494,982
)
   
(9,664,106
)
   
(230,839
)
   
(1,457,244
)
   
(20,847,171
)
Segment net income (loss)
 
$
1,574,946
   
$
(105,015
)
 
$
(230,839
)
 
$
(1,466,014
)
 
$
(226,922
)
Financial income (expense)
   
(3,750
)
   
(5,973
)
   
     
(194,473
)
   
(204,196
)
Income tax expense
   
(30,830
)
   
(109,361
)
   
     
(228,636
)
   
(368,827
)
Net income (loss)
 
$
1,540,366
   
$
(220,349
)
 
$
(230,839
)
 
$
(1,889,123
)
 
$
(799,945
)
Three months ended June 30, 2015
                                       
Revenues from outside customers
 
$
12,884,561
   
$
8,759,664
   
$
   
$
   
$
21,644,225
 
Depreciation, amortization and impairment expenses(1)
   
(207,845
)
   
(928,470
)
   
     
(5,937
)
   
(1,142,252
)
Direct expenses(2)
   
(10,297,257
)
   
(10,040,544
)
   
(147,081
)
   
(1,646,321
)
   
(22,131,203
)
Segment net income (loss)
 
$
2,379,459
   
$
(2,209,350
)
 
$
(147,081
)
 
$
(1,652,258
)
 
$
(1,629,230
)
Financial income (expense)
   
(13,226
)
   
38,824
     
     
(268,995
)
   
(243,397
)
Income tax expense
   
(151,219
)
   
     
     
(219,124
)
   
(370,343
)
Net income (loss)
 
$
2,215,014
   
$
(2,170,526
)
 
$
(147,081
)
 
$
(2,140,377
)
 
$
(2,242,970
)
(1)
Includes depreciation of property and equipment and amortization expenses of intangible assets.
 
(2)
Including, inter alia, sales and marketing, general and administrative.
 
(3)
Out of those amounts, goodwill in the Company's Training and Simulation and Power Systems Divisions totaled $24,435,641 and $21,052,329, respectively, as of June 30, 2016 and $24,435,641 and $21,173,818, respectively, as of June 30, 2015. There was no goodwill as of either date in the Flow Battery Division.