Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.2
Segment Information
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Information

14. Segment Information

 

The Company operates in the following segments: (i) NAPW Network, (ii) PDN Network and (iii) Corporate Overhead. The financial results of China Operations have been reclassified from the Company’s reportable segments to discontinued operations for all periods presented.

 

    Three Months Ended September 30, 2020     Nine Months Ended September 30, 2020  
    PDN     NAPW     Corporate           PDN     NAPW     Corporate        
    Network     Network     Overhead     Consolidated     Network     Network     Overhead     Consolidated  
Membership fees and related services   $ -     $ 319,248     $ -     $ 319,248     $ -     $ 1,056,487     $ -     $ 1,056,487  
Recruitment services     930,330       -       -       930,330       2,069,250       -       -       2,069,250  
Products sales and other     -       218       -       218       -       3,548       -       3,548  
Consumer advertising and marketing solutions     55,726       -       -       55,726       110,364       -       -       110,364  
Total revenues     986,056       319,466       -       1,305,522       2,179,614       1,060,035       -       3,239,649  
Income (loss) from continuing operations     315,145       42,958       (1,278,685 )     (920,582 )     82,595       (395,348 )     (3,835,946 )     (4,148,699 )
Depreciation and amortization     4,560       33,730       -       38,290       31,070       107,069       -       138,139  
Income tax expense (benefit)     1,893       (28 )     (15,477 )     (13,612 )     821       (2,636 )     (30,218 )     (32,033 )
Net income (loss) from continuing operations     307,999       42,986       (1,263,208 )     (912,223 )     82,735       (392,712 )     (3,805,728 )     (4,115,705 )

 

    As of September 30, 2020  
Goodwill   $ 339,451     $ -     $ -     $ 339,451  
Intangibles assets, net     90,400       304,830       -       395,230  
Assets from continuing operations     4,935,607       1,153,924       -       6,089,531  

 

    Three Months Ended September 30, 2019     Nine Months Ended September 30, 2019  
    PDN     NAPW     Corporate           PDN     NAPW     Corporate        
    Network     Network     Overhead     Consolidated     Network     Network     Overhead     Consolidated  
Membership fees and related services   $ -     $ 515,796     $ -     $ 515,796     $ -     $ 1,944,249     $ -     $ 1,944,249  
Recruitment services     790,488       -       -       790,488       1,915,794       -       -       1,915,794  
Products sales and other     -       1,053       -       1,053       -       5,008       -       5,008  
Consumer advertising and marketing solutions     34,069       -       -       34,069       107,844       -       -       107,844  
Total revenues     824,557       516,849       -       1,341,406       2,023,638       1,949,257       -       3,972,895  
Loss from continuing operations     (9,843 )     (128,039 )     (771,067 )     (908,949 )     (200,864 )     (280,015 )     (2,059,014 )     (2,539,893 )
Depreciation and amortization     15,202       201,442       -       216,644       46,834       604,327       -       651,161  
Income tax benefit (expense)     (1,646 )     (6,475 )     (37,337 )     (45,458 )     9,329       (15,641 )     (115,015 )     (121,327 )
Net income (loss) from continuing operations     211,610       (121,564 )     (733,730 )     (643,684 )     388,150       (264,374 )     (1,960,650 )     (1,836,874 )

 

    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