| Segment Information |
11. Segment Information
Beginning in January 2017, the Company
operates in the following segments: (A) United States: (i) PDN Network, (ii) NAPW Network and (iii) Noble Voice operations, and
(B) China Operations. The segments are categorized based on their business activities and organization. Prior to January 2017,
the Company operated solely in the United States in the following segments: (i) PDN Network, (ii) NAPW Network and (iii) Noble
Voice operations. The following tables present key financial information of the Company’s reportable segments as of and for
the three months ended March 31, 2018 and 2017:
| |
|
Three Months Ended March 31, 2018 |
|
| |
|
United States |
|
|
|
|
|
|
|
|
|
|
| |
|
PDN
Network
|
|
|
NAPW
Network
|
|
|
Noble Voice |
|
|
China Operations |
|
|
Corporate Overhead |
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
1,549,932 |
|
|
$ |
- |
|
|
$ |
62,289 |
|
|
$ |
- |
|
|
$ |
1,612,221 |
|
| Lead generation |
|
|
- |
|
|
|
- |
|
|
|
1,234,718 |
|
|
|
- |
|
|
|
- |
|
|
|
1,234,718 |
|
| Recruitment services |
|
|
621,415 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
621,415 |
|
| Products sales and other |
|
|
- |
|
|
|
3,657 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,657 |
|
| Education and training |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
6,471 |
|
|
|
- |
|
|
|
6,471 |
|
| Consumer advertising and marketing solutions |
|
|
69,734 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
69,734 |
|
| Total revenues |
|
|
691,149 |
|
|
|
1,553,589 |
|
|
|
1,234,718 |
|
|
|
68,760 |
|
|
|
- |
|
|
|
3,548,216 |
|
| Loss from operations |
|
|
(67,204 |
) |
|
|
(766,055 |
) |
|
|
(244,796 |
) |
|
|
(351,117 |
) |
|
|
(912,775 |
) |
|
|
(2,341,947 |
) |
| Depreciation and amortization |
|
|
16,987 |
|
|
|
658,433 |
|
|
|
21,589 |
|
|
|
4,341 |
|
|
|
- |
|
|
|
701,350 |
|
| Income tax expense (benefit) |
|
|
(8,773 |
) |
|
|
(109,639 |
) |
|
|
(35,036 |
) |
|
|
- |
|
|
|
(130,638 |
) |
|
|
(284,086 |
) |
| Net loss |
|
|
(52,524 |
) |
|
|
(656,416 |
) |
|
|
(209,760 |
) |
|
|
(333,576 |
) |
|
|
(782,137 |
) |
|
|
(2,034,413 |
) |
| Capital expenditures |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
- |
|
|
|
- |
|
| |
|
March 31, 2018 |
|
| Goodwill |
|
$ |
339,451 |
|
|
$ |
5,250,699 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
5,590,150 |
|
| Intangible assets, net |
|
|
90,400 |
|
|
|
5,555,206 |
|
|
|
100,000 |
|
|
|
- |
|
|
|
- |
|
|
|
5,745,606 |
|
| Total assets |
|
|
1,765,961 |
|
|
|
12,061,120 |
|
|
|
1,067,580 |
|
|
|
2,499,200 |
|
|
|
- |
|
|
|
17,393,861 |
|
| |
|
Three Months Ended March 31, 2017 |
|
| |
|
United States |
|
|
|
|
|
|
|
|
|
|
| |
|
PDN Network |
|
|
NAPW Network |
|
|
Noble Voice |
|
|
China
Operations
|
|
|
Corporate Overhead |
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
2,815,496 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
2,815,496 |
|
| Lead generation |
|
|
- |
|
|
|
- |
|
|
|
1,724,167 |
|
|
|
- |
|
|
|
- |
|
|
|
1,724,167 |
|
| Recruitment services |
|
|
658,544 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
658,544 |
|
| Products sales and other |
|
|
- |
|
|
|
46,368 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
46,368 |
|
| Education and training |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
324,204 |
|
|
|
- |
|
|
|
324,204 |
|
| Consumer advertising and marketing solutions |
|
|
65,702 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
65,702 |
|
| Total revenues |
|
|
724,246 |
|
|
|
2,861,864 |
|
|
|
1,724,167 |
|
|
|
324,204 |
|
|
|
- |
|
|
|
5,634,481 |
|
| (Loss) income from operations |
|
|
(78,770 |
) |
|
|
(1,243,301 |
) |
|
|
(214,632 |
) |
|
|
46,493 |
|
|
|
(2,201,184 |
) |
|
|
(3,691,394 |
) |
| Depreciation and amortization |
|
|
46,829 |
|
|
|
739,126 |
|
|
|
49,875 |
|
|
|
- |
|
|
|
- |
|
|
|
835,830 |
|
| Income tax expense (benefit) |
|
|
(15,507 |
) |
|
|
(217,205 |
) |
|
|
(37,496 |
) |
|
|
52,469 |
|
|
|
(384,547 |
) |
|
|
(602,286 |
) |
| Net loss |
|
|
(73,412 |
) |
|
|
(1,026,096 |
) |
|
|
(177,136 |
) |
|
|
(8,300 |
) |
|
|
(1,816,637 |
) |
|
|
(3,101,581 |
) |
| Capital expenditures |
|
|
5,554 |
|
|
|
3,814 |
|
|
|
341 |
|
|
|
31,854 |
|
|
|
- |
|
|
|
41,563 |
|
| |
|
March 31, 2017 |
|
| Goodwill |
|
$ |
339,451 |
|
|
$ |
19,861,739 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
20,201,190 |
|
| Intangible assets, net |
|
|
90,400 |
|
|
|
8,136,606 |
|
|
|
239,333 |
|
|
|
- |
|
|
|
- |
|
|
|
8,466,339 |
|
| Total assets |
|
|
6,503,219 |
|
|
|
30,978,114 |
|
|
|
1,968,654 |
|
|
|
514,101 |
|
|
|
- |
|
|
|
39,964,088 |
|
|