| Segment Information |
12. Segment Information
Beginning on May 26, 2018, the Company operated
in the following segments: (A) United States: (i) PDN Network and (ii) NAPW Network, (B) China Operations, and (C) Corporate Overhead.
The segments are categorized based on their business activities and organization. On March 4, 2020, the Company’s Board of
Directors decided to suspend all China operations. As of December 31, 2019, the Company operated in the following segments: (i)
NAPW Network, (ii) PDN Network and (iii) Corporate Overhead. Accordingly, all financial results for Noble Voice and China Operations
have been reclassified from the Company’s reportable segments to discontinued operations for all periods presented.
The following tables present key financial
information of the Company’s reportable segments as of March 31, 2020 and December 31, 2019 and for the three months ended
March 31, 2020 and 2019:
| |
|
Three Months Ended March 31, 2020 |
|
| |
|
PDN |
|
|
NAPW |
|
|
Corporate |
|
|
|
|
| |
|
Network |
|
|
Network |
|
|
Overhead |
|
|
Consolidated |
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
383,831 |
|
|
$ |
- |
|
|
$ |
383,831 |
|
| Recruitment services |
|
|
566,687 |
|
|
|
- |
|
|
|
- |
|
|
|
566,687 |
|
| Products sales and other |
|
|
- |
|
|
|
1,431 |
|
|
|
- |
|
|
|
1,431 |
|
| Consumer advertising and marketing solutions |
|
|
30,348 |
|
|
|
- |
|
|
|
- |
|
|
|
30,348 |
|
| Total revenues |
|
|
597,035 |
|
|
|
385,262 |
|
|
|
- |
|
|
|
982,297 |
|
| Loss from continuing operations |
|
|
(150,024 |
) |
|
|
(68,110 |
) |
|
|
(1,210,870 |
) |
|
|
(1,429,004 |
) |
| Depreciation and amortization |
|
|
14,675 |
|
|
|
37,326 |
|
|
|
- |
|
|
|
52,001 |
|
| Income tax benefit |
|
|
(951 |
) |
|
|
(407 |
) |
|
|
(4,551 |
) |
|
|
(5,909 |
) |
| Net loss from continuing operations |
|
|
(148,409 |
) |
|
|
(67,703 |
) |
|
|
(1,206,319 |
) |
|
|
(1,422,431 |
) |
| |
|
As of March 31, 2020 |
|
| Goodwill |
|
$ |
339,451 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
339,451 |
|
| Intangibles assets, net |
|
|
90,400 |
|
|
|
342,933 |
|
|
|
- |
|
|
|
433,333 |
|
| Assets from continuing operations |
|
|
2,625,138 |
|
|
|
1,242,192 |
|
|
|
- |
|
|
|
3,867,330 |
|
| |
|
Three Months Ended March 31, 2019 |
|
| |
|
PDN |
|
|
NAPW |
|
|
Corporate |
|
|
|
|
| |
|
Network |
|
|
Network |
|
|
Overhead |
|
|
Consolidated |
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
794,539 |
|
|
$ |
- |
|
|
$ |
794,539 |
|
| Recruitment services |
|
|
474,260 |
|
|
|
- |
|
|
|
- |
|
|
|
474,260 |
|
| Products sales and other |
|
|
- |
|
|
|
2,812 |
|
|
|
- |
|
|
|
2,812 |
|
| Consumer advertising and marketing solutions |
|
|
35,716 |
|
|
|
- |
|
|
|
- |
|
|
|
35,716 |
|
| Total revenues |
|
|
509,976 |
|
|
|
797,351 |
|
|
|
- |
|
|
|
1,307,327 |
|
| Loss from continuing operations |
|
|
(171,416 |
) |
|
|
(107,731 |
) |
|
|
(587,975 |
) |
|
|
(867,122 |
) |
| Depreciation and amortization |
|
|
15,741 |
|
|
|
201,442 |
|
|
|
- |
|
|
|
217,183 |
|
| Income tax benefit |
|
|
(8,129 |
) |
|
|
(13,135 |
) |
|
|
(44,369 |
) |
|
|
(65,633 |
) |
| Net loss from continuing operations |
|
|
(160,924 |
) |
|
|
(99,602 |
) |
|
|
(543,606 |
) |
|
|
(804,132 |
) |
| |
|
As of December 31, 2019 |
|
| Goodwill |
|
$ |
339,451 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
339,451 |
|
| Intangibles assets, net |
|
|
90,400 |
|
|
|
361,985 |
|
|
|
- |
|
|
|
452,385 |
|
| Assets from continuing operations |
|
|
2,151,734 |
|
|
|
1,254,693 |
|
|
|
- |
|
|
|
3,406,427 |
|
|