Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.23.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segment Information

The following tables present key financial information related of the Company’s reportable segments related to financial position as of June 30, 2023 and December 31, 2022 and results of operations for the three and six months ended June 30, 2023 and 2022:

 

                               
    Three Months Ended June 30, 2023  
    PDN     NAPW           Corporate        
    Network     Network     RemoteMore     Overhead     Consolidated  
Membership fees and related services   $ -     $ 136,235     $ -     $ -     $ 136,235  
Recruitment services     1,076,023       -       -       -       1,076,023  
Contracted software development     -       -       603,444       -       603,444  
Consumer advertising and marketing solutions     25,523       -       -       -       25,523  
Total revenues     1,101,546       136,235       603,444       -       1,841,225  
Income (loss) from continuing operations     (454,402 )     (133,179 )     (80,737 )     (762,947 )     (1,431,265 )
Depreciation and amortization     127,207       19,606       346       -       147,159  
Income tax expense (benefit)     1,484      

906

       -      

(1,440

 )     950  
Net income (loss) from continuing operations     (455,429 )     (134,085 )     (80,697 )     (761,507 )     (1,431,718 )

 

                                         
    As of June 30, 2023  
Goodwill   $ 465,752     $ -     $ 952,001     $ -     $ 1,417,753  
Intangibles assets, net     419,233       95,259       1,042       -       515,534  
Assets from continuing operations     8,576,760       153,673       (483,592 )     -       8,246,841  

 

                               
    Three Months Ended June 30, 2022  
    PDN     NAPW           Corporate        
    Network     Network     RemoteMore     Overhead     Consolidated  
Membership fees and related services   $ -     $ 161,435     $ -     $ -     $ 161,435  
Recruitment services     1,341,031       -       -       -       1,341,031  
Contracted software development     -       -       647,868       -       647,868  
Consumer advertising and marketing solutions     45,173       -       -       -       45,173  
Total revenues     1,386,204       161,435       647,868       -       2,195,507  
Income (loss) from continuing operations     177,773       726,222       (275,443 )     (655,605 )     (27,053 )
Depreciation and amortization     6,892       19,527       205,618       -       232,037  
Income tax expense (benefit)     8,791       18,658       -       (11,902 )     15,547  
Net income (loss) from continuing operations     170,239       707,577       (287,050 )     (643,703 )     (52,937 )

 

                                         
    As of December 31, 2022  
Goodwill   $ 339,451     $ -     $ 935,334     $ -     $ 1,274,785  
Intangibles assets, net     90,400       133,363       1,458       -       225,221  
Assets from continuing operations     6,718,226       203,534       (287,455 )     -       6,634,305  

 

 

                               
    Six Months Ended June 30, 2023  
    PDN     NAPW           Corporate        
    Network     Network     RemoteMore     Overhead     Consolidated  
Membership fees and related services   $ -     $ 265,158     $ -     $ -     $ 265,158  
Recruitment services     2,179,418       -       -       -       2,179,418  
Contracted software development     -       -       1,301,710       -       1,301,710  
Consumer advertising and marketing solutions     50,148       -       -       -       50,148  
Total revenues     2,229,566       265,158       1,301,710       -       3,796,434  
Income (loss) from continuing operations     (809,034 )     (380,245 )     (185,621 )     (1,183,145 )     (2,558,045 )
Depreciation and amortization     239,967       39,273       693       -       279,933  
Income tax expense (benefit)     (1,596 )     (2,665 )     850       (6,512 )     (9,923 )
Net income (loss) from continuing operations     (804,155 )     (377,527 )     (182,726 )     (1,176,633 )     (2,541,041 )

 

                               
    Six Months Ended June 30, 2022  
    PDN     NAPW           Corporate        
    Network     Network     RemoteMore     Overhead     Consolidated  
Membership fees and related services   $ -     $ 357,444     $ -     $ -     $ 357,444  
Recruitment services     2,674,395       -       -       -       2,674,395  
Contracted software development     -       -       1,124,960       -       1,124,960  
Consumer advertising and marketing solutions     91,588       -       -       -       91,588  
Total revenues     2,765,983       357,444       1,124,960       -       4,248,387  
Income (loss) from continuing operations     450,063       518,345     (653,722 )     (1,257,952 )     (943,266 )
Depreciation and amortization     13,114       38,959       461,236       -       513,309  
Income tax expense (benefit)     17,878       5,641       -       (33,760 )     (10,241 )
Net income (loss) from continuing operations     436,460       512,881       (667,610 )     (1,224,192 )     (942,461 )