Business Segments

9 Months Ended

12 Months Ended

Dec. 31, 2015

Mar. 31, 2015

Note 8. Business Segments

The Company has two reportable operating segments: (1) aquarium and aquarium supplies and (2) medical technology. These reportable segments are managed separately due to differences in their products.

The only segment that generates revenue is aquarium and aquarium supplies. Management evaluates and monitors performance of this segment primarily through, among other measures, gross profit. The medical technology segment is in the development stage and not begun to generate revenue.

The results of operations and financial position of the two reportable operating segments and corporate were as follows:

Results of Operations:

	Nine months ended December 31,				Three months ended December 31,
	2015		2014		2015		2014

REVENUE
Aquarium and aquarium supplies	$	84,387	$	99,503	$	28,040	$	28,182
Medical technology		—		—		—		—
Corporate		—		—		—		—
	$	84,387	$	99,503	$	28,040	$	28,182

GROSS PROFIT
Aquarium and aquarium supplies	$	50,290	$	51,176	$	18,857	$	17,590
Medical technology		—		—		—		—
Corporate		—		—		—		—
	$	50,290		51,176	$	18,857		17,590

GENERAL AND ADMINISTRATIVE EXPENSE
Aquarium and aquarium supplies	$	72,827	$	83,376	$	25,254	$	23,902
Medical technology		15,000		70,000		—		10,000
Corporate		510,987		324,768		131,795		113,311
	$	598,814	$	478,144	$	157,049	$	147,213

Corporate operating expense includes general and administrative costs not allocated to operating segments.

	December 31, 2015		March 31, 2015

TOTAL ASSETS
Aquarium and aquarium supplies	$	5,528	$	6,800
Medical technology		—		—
Corporate		1,166		4,528
	$	6,694	$	11,328

Note 11. Business Segments

The Company has two reportable operating segments: (1) aquarium and aquarium supplies and (2) medical technology. These reportable segments are financed and managed separately due to differences in their products and overall business plan.

The results of operations and financial position of the two reportable operating segments and corporate were as follows:

Results of Operations:


	Year ended March 31,
	2015		2014

REVENUE
Aquarium and aquarium supplies	$	128,133	$	113,009
Medical technology		—		—
Corporate		—		—
	$	128,133	$	113,009

GROSS PROFIT (LOSS)
Aquarium and aquarium supplies	$	58,388	$	(219	)
Medical technology		—		—
Corporate		—		—
	$	58,388		(219	)

OPERATING EXPENSES
Aquarium and aquarium supplies	$	103,091	$	144,788
Medical technology		80,000		85,000
Corporate		461,296		440,111
	$	644,387	$	669,899

Corporate operating expense includes general and administrative costs not allocated to operating segments.


	March 31, 2015		March 31, 2014

TOTAL ASSETS
Aquarium and aquarium supplies	$	6,800	$	24,756
Medical technology		—		—
Corporate		4,528		52,989
	$	11,328	$	77,745

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Rainbow Coral Corp. S-1