Depreciation of property and equipment and amortization of intangible assets and asset impairment in 2015 was $2.3 million compared to $1.6 million in 2014. The increase in 2015, relates to the decision by management to take an impairment on its Tel3 asset in 2015 based upon a lower performance outlook for this business going forward.
Net income in 2015 was $344 compared to $966 in 2014. The reduction in net income is primarily related to an increase in non-cash impairment by management of its Tel3 asset.
And from Tellza's March 31, 2016 Report:
Discontinued operations related to the financial performance of the Tel3 asset.
And this from NXGH's Press Release:
Tel3 is a marketing group that had revenues over $3 million in 2015 with 31.5% gross margin, 25,000 active customers, and a database of 300,000 current and former clients.
So which is it? Tellza is discontinuing operations of Tel3 due to poor financial performance, yet NXGH says it did $3,000,000 with 31.5% gross margin. Does Arik own Tel3 or does Tellza?
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