SCWorx, Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segments

Segments

6 Months Ended

Jun. 30, 2018

Segment Reporting Disclosure [Text Block]

Note 10. Segments

Beginning in the fourth quarter of 2017, the Company began reporting its financial results within two reportable segments: (1) Ticket Services and (2) Athlete Management. There are certain corporate overhead costs that are not allocated to these reportable segments because these operating amounts are not considered in evaluating the operating performance of the Company’s business segments. The Chief Financial Officer is the Chief Operating Decision Maker (“CODM”) as defined by the authoritative guidance on segment reporting. The Ticket Services segment includes the ticketing services business of CageTix. The Ticketing Services segment provides event ticket services to third parties promotions. The Athlete Management Segment includes the acquired athlete management business of SuckerPunch, which provides athlete management services to professional MMA fighters.

The following table sets forth the Company’s segment revenue, operating expenses and operating (loss) / income for the periods indicated:

	Three Months, Ended June 30, 2018
	Ticket Service		Athlete Management		Corporate		Total
Revenue	$	24,807	$	155,850	$		$	180,657
Operating expenses		37,575		176,274		3,321,420		3,535,269
Operating (loss)	$	(12,768)	$	(20,424)	$	(3,321,420)	$	(3,354,612)

	Six Months, Ended June 30, 2018
	Ticket Service		Athlete Management		Corporate		Total
Revenue	$	116,140	$	347,092	$	25,000	$	488,232
Operating expenses		78,553		302,143		4,499,400		4,880,096
Operating (loss)/income	$	37,587	$	44,949	$	(4,474,400)	$	(4,391,864)

Revenue is derived from customers within the United States and it is expected to continue to be a significant portion of revenue in future periods. Operating segments do not record inter-segment revenue.

As of June 30, 2018, all assets were held in the United States. The CODM does not evaluate operating segments using discrete asset information and we do not identify or allocate assets by operating segments.