| Segment Information |
13. 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.
The following tables present key financial information
of the Company’s reportable segments as of and for the years ended December 31, 2020 and 2019:
| |
|
Year Ended December 31, 2020 |
|
| |
|
PDN |
|
|
NAPW |
|
|
Corporate |
|
|
|
|
| |
|
Network |
|
|
Network |
|
|
Overhead |
|
|
Consolidated |
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
1,345,707 |
|
|
$ |
- |
|
|
$ |
1,345,707 |
|
| Recruitment services |
|
|
2,962,275 |
|
|
|
- |
|
|
|
- |
|
|
|
2,962,275 |
|
| Products sales and other |
|
|
- |
|
|
|
4,820 |
|
|
|
- |
|
|
|
4,820 |
|
| Consumer advertising and marketing solutions |
|
|
143,934 |
|
|
|
- |
|
|
|
- |
|
|
|
143,934 |
|
| Total revenues |
|
|
3,106,209 |
|
|
|
1,350,527 |
|
|
|
- |
|
|
|
4,456,736 |
|
| Income (loss) from continuing operations |
|
|
197,739 |
|
|
|
(543,706 |
) |
|
|
(4,499,250 |
) |
|
|
(4,845,217 |
) |
| Depreciation and amortization |
|
|
32,885 |
|
|
|
137,017 |
|
|
|
- |
|
|
|
169,902 |
|
| Income tax expense (benefit) |
|
|
9,119 |
|
|
|
(4,797 |
) |
|
|
(39,537 |
) |
|
|
(35,215 |
) |
| Net income (loss) from continuing operations |
|
|
840,660 |
|
|
|
(538,909 |
) |
|
|
(4,459,713 |
) |
|
|
(4,157,962 |
) |
| |
|
As of December 31, 2020 |
|
| Goodwill |
|
$ |
339,451 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
339,451 |
|
| Intangibles assets, net |
|
|
90,400 |
|
|
|
285,778 |
|
|
|
- |
|
|
|
376,178 |
|
| Assets from continuing operations |
|
|
4,455,262 |
|
|
|
1,126,005 |
|
|
|
- |
|
|
|
5,581,267 |
|
| |
|
Year Ended December 31, 2019 |
|
| |
|
PDN |
|
|
NAPW |
|
|
Corporate |
|
|
|
|
| |
|
Network |
|
|
Network |
|
|
Overhead |
|
|
Consolidated |
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
2,428,060 |
|
|
$ |
- |
|
|
$ |
2,428,060 |
|
| Recruitment services |
|
|
2,450,742 |
|
|
|
- |
|
|
|
- |
|
|
|
2,450,742 |
|
| Products sales and other |
|
|
- |
|
|
|
5,644 |
|
|
|
- |
|
|
|
5,644 |
|
| Consumer advertising and marketing solutions |
|
|
140,766 |
|
|
|
- |
|
|
|
- |
|
|
|
140,766 |
|
| Total revenues |
|
|
2,591,508 |
|
|
|
2,433,704 |
|
|
|
- |
|
|
|
5,025,212 |
|
| Loss from continuing operations |
|
|
(357,067 |
) |
|
|
(272,528 |
) |
|
|
(2,366,540 |
) |
|
|
(2,996,135 |
) |
| Depreciation and amortization |
|
|
62,064 |
|
|
|
641,653 |
|
|
|
- |
|
|
|
703,717 |
|
| Income tax (benefit) expense |
|
|
(162,281 |
) |
|
|
46,778 |
|
|
|
(61,998 |
) |
|
|
(177,501 |
) |
| Net (loss) income from continuing operations |
|
|
(168,281 |
) |
|
|
(319,306 |
) |
|
|
(2,304,542 |
) |
|
|
(2,792,129 |
) |
| |
|
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 |
|
|