| Schedule of Segment Information |
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 years ended December 31, 2018 and
2017:
| |
|
Year ended December 31, 2018 |
|
| |
|
United States |
|
|
|
|
|
|
|
|
|
|
| |
|
PDN
Network
|
|
|
NAPW
Network
|
|
|
China
Operations
|
|
|
Corporate Overhead |
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
4,766,798 |
|
|
$ |
225,152 |
|
|
$ |
- |
|
|
$ |
4,991,950 |
|
| Recruitment services |
|
|
2,571,935 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,571,935 |
|
| Products sales and other |
|
|
- |
|
|
|
19,239 |
|
|
|
- |
|
|
|
- |
|
|
|
19,239 |
|
| Education and training |
|
|
- |
|
|
|
- |
|
|
|
606,557 |
|
|
|
|
|
|
|
606,557 |
|
| Consumer advertising and marketing solutions |
|
|
262,946 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
262,946 |
|
| Total revenues |
|
|
2,834,881 |
|
|
|
4,786,037 |
|
|
|
53,599 |
|
|
|
- |
|
|
|
8,452,627 |
|
| (Loss) income from continuing operations |
|
|
(150,810 |
) |
|
|
(10,775,648 |
) |
|
|
(1,615,105 |
) |
|
|
(3,612,228 |
) |
|
|
(16,153,791 |
) |
| Depreciation and amortization |
|
|
65,479 |
|
|
|
2,534,515 |
|
|
|
17,780 |
|
|
|
- |
|
|
|
2,617,774 |
|
| Income tax expense (benefit) |
|
|
2,796 |
|
|
|
(1,004,453 |
) |
|
|
(210,177 |
) |
|
|
(351,878 |
) |
|
|
(1,563,712 |
) |
| Net (loss) income from continuing operations |
|
|
(135,536 |
) |
|
|
(9,771,195 |
) |
|
|
(1,404,778 |
) |
|
|
(3,260,350 |
) |
|
|
(14,571,859 |
) |
| Capital expenditures |
|
|
- |
|
|
|
568 |
|
|
|
(7,369 |
) |
|
|
- |
|
|
|
(6,802 |
) |
| |
|
At December 31, 2018 |
|
| Goodwill |
|
$ |
339,451 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
339,451 |
|
| Intangible assets, net |
|
|
90,400 |
|
|
|
930,543 |
|
|
|
- |
|
|
|
- |
|
|
|
1,020,943 |
|
| Assets from continuing operations |
|
|
1,654,346 |
|
|
|
1,970,594 |
|
|
|
1,486,891 |
|
|
|
- |
|
|
|
5,111,831 |
|
| |
|
Year Ended December 31, 2017 |
|
| |
|
United States |
|
|
|
|
|
|
|
|
|
|
| |
|
PDN
Network
|
|
|
NAPW
Network
|
|
|
China
Operations
|
|
|
Corporate
Overhead
|
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
9,371,843 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
9,371,843 |
|
| Recruitment services |
|
|
2,578,597 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,578,597 |
|
| Products sales and other |
|
|
- |
|
|
|
100,289 |
|
|
|
- |
|
|
|
- |
|
|
|
100,289 |
|
| Education and training |
|
|
- |
|
|
|
- |
|
|
|
3,776,546 |
|
|
|
- |
|
|
|
3,776,546 |
|
| Consumer advertising and marketing solutions |
|
|
252,980 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
252,980 |
|
| Total revenues |
|
|
2,831,577 |
|
|
|
9,472,132 |
|
|
|
3,776,546 |
|
|
|
- |
|
|
|
16,080,255 |
|
| Loss from continuing operations |
|
|
(265,451 |
) |
|
|
(18,428,010 |
) |
|
|
917,015 |
|
|
|
(5,491,652 |
) |
|
|
(23,268,098 |
) |
| Depreciation and amortization |
|
|
83,367 |
|
|
|
2,914,076 |
|
|
|
10,221 |
|
|
|
- |
|
|
|
3,007,664 |
|
| Income tax expense (benefit) |
|
|
(18,490 |
) |
|
|
(1,393,055 |
) |
|
|
104,241 |
|
|
|
(380,066 |
) |
|
|
(1,687,370 |
) |
| Net loss from continuing operations |
|
|
(226,108 |
) |
|
|
(17,034,955 |
) |
|
|
796,108 |
|
|
|
(5,111,586 |
) |
|
|
(21,576,541 |
) |
| Capital expenditures |
|
|
100,823 |
|
|
|
10,646 |
|
|
|
49,793 |
|
|
|
- |
|
|
|
161,262 |
|
| |
|
At 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 |
|
|