Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.10.0.1
Segment Information
 6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Segment Information

9. Segment Information

 

Beginning on May 26, 2018, the Company operates in the following segments: (A) United States: (i) PDN Network and (ii) NAPW Network, and (B) China Operations. The segments are categorized based on their business activities and organization. Prior to May 26, 2018, the Company operated in the following segments: (A) United States: (i) PDN Network, (ii) NAPW Network, and (B) China Operations. The following tables present key financial information of the Company’s reportable segments as of and for the three and six months ended June 30, 2018 and 2017:

 

    Three Months Ended June 30, 2018  
    United States                    
   

PDN

Network

    

NAPW

Network

     China 
 Operations 		    Corporate Overhead     Consolidated  
                               
Membership fees and related services   $ -     $ 1,270,500     $ 65,226     $ -     $ 1,335,726  
Recruitment services     692,377       -       -       -       692,377  
Products sales and other     -       6,360       -       -       6,360  
Education and training     -       -       9,577       -       9,577  
Consumer advertising and marketing solutions     74,543       -       -       -       74,543  
Total revenues     766,920       1,276,860       74,803       -       2,118,583  
(Loss) income from continuing operations     15,445       (431,475 )     (474,066 )     (1,077,767 )     (1,967,863 )
Depreciation and amortization     16,978       636,448       5,835       -       659,261  
Income tax expense (benefit)     4,095       (29,363 )     2,265       (100,412 )     (123,415 )
Net (loss) income from continuing operations     16,900       (402,112 )     (478,103 )     (977,355 )     (1,840,670 )
Capital expenditures     -       -       (3,567 )     -       (3,567 )

 

    Six months Ended June 30, 2018  
    United States                    
   

PDN

Network

    

NAPW

Network

     China 
 Operations 		    Corporate Overhead     Consolidated  
                               
Membership fees and related services   $ -     $ 2,820,432     $ 127,515     $ -     $ 2,947,947  
Recruitment services     1,313,792       -       -       -       1,313,792  
Products sales and other     -       10,017       -       -       10,017  
Education and training     -       -       16,048       -       16,048  
Consumer advertising and marketing solutions     144,277       -       -       -       144,277  
Total revenues     1,458,069       2,830,449       143,563       -       4,432,081  
Loss from continuing operations     (51,759 )     (1,197,530 )     (825,182 )     (1,990,542 )     (4,065,013 )
Depreciation and amortization     33,965       1,294,881       10,176       -       1,339,022  
Income tax expense (benefit)     (4,678 )     (139,002 )     2,265       (231,050 )     (372,465 )
Net loss from continuing operations     (35,624 )     (1,058,528 )     (811,680 )     (1,759,492 )     (3,665,324 )
Capital expenditures     -       -       (3,567 )             (3,567 )

 

    June 30, 2018  
Goodwill   $ 339,451     $ 5,250,699     $ -     $ -     $ 5,590,150  
Intangible assets, net     90,400       4,936,106       -       -       5,026,506  
Assets from continuing operations     1,428,679       11,187,581       2,944,846       -       15,561,106  

 

    Three Months Ended June 30, 2017  
    United States                    
    PDN Network     NAPW Network     China Operations       Corporate Overhead     Consolidated  
                               
Membership fees and related services   $ -     $ 2,444,797     $ -     $ -     $ 2,444,797  
Recruitment services     624,103       -       -       -       624,103  
Products sales and other     -       26,573       -       -       26,573  
Education and training     -       -       505,490       -       505,490  
Consumer advertising and marketing solutions     58,327       -       -       -       58,327  
Total revenues     682,430       2,471,370       505,490       -       3,659,290  
(Loss) income from continuing operations     (27,846 )     (10,722,245 )     15,180       (1,546,191 )     (12,281,102 )
Depreciation and amortization     7,057       741,191       2,665               750,913  
Income tax expense (benefit)     8,802       (520,018 )     (9,426 )     160,335       (360,307 )
Net (loss) income from continuing operations     (28,710 )     (10,202,227 )     23,607       (1,706,526 )     (11,913,856 )
Capital expenditures     1,593       6,832       3,850       -       12,275  

 

    Six Months Ended June 30, 2017  
    United States                    
   

PDN

Network

    

NAPW

Network

     China 
 Operations 		    Corporate Overhead     Consolidated  
                               
Membership fees and related services   $ -     $ 5,260,293     $ -     $ -     $ 5,260,293  
Recruitment services     1,282,647       -       -       -       1,282,647  
Products sales and other     -       72,941       -       -       72,941  
Education and training     -       -       829,694       -       829,694  
Consumer advertising and marketing solutions     124,029       -       -       -       124,029  
Total revenues     1,406,676       5,333,234       829,694       -       7,569,604  
(Loss) income from continuing operations     (106,616 )     (11,965,546 )     61,673       (3,747,375 )     (15,757,864 )
Depreciation and amortization     53,886       1,480,317       2,665       -       1,536,868  
Income tax expense (benefit)     (6,705 )     (737,223 )     43,043       (224,212 )     (925,097 )
Net (loss) income from continuing operations     (102,122 )     (11,228,323 )     15,307       (3,523,163 )     (14,838,301 )
Capital expenditures     7,147       10,646       35,704       -       53,497  

 

    December 31, 2017  
Goodwill   $ 339,451     $ 5,250,699     $ -     $ -     $ 5,590,150  
Intangible assets, net     90,400       6,174,306       -       -       6,264,706  
Assets from continuing operations     1,726,061       12,889,367       3,056,281       -       17,671,709