Annual report pursuant to Section 13 and 15(d)

Segment Information

v2.4.1.9
Segment Information
 12 Months Ended
Dec. 31, 2014
Segment Information [Abstract]  
Segment Information

17. Segment Information

 

Since the acquisition of Noble Voice on November 26, 2014 and the Merger with NAPW on September 24, 2014, the Company operates in three segments: (i) PDN Network, (2) NAPW Network and (3) Noble Voice operations, which are based on its business activities and organization. The operating segments are segments of the Company for which separate discrete financial information is available and for which operating results are evaluated regularly by the chief operating decision makers, made up of the Company's executive management team, in deciding how to allocate resources, as well as in assessing performance. The Company evaluates the performance of its operating segments primarily based on revenues and operating income or loss from operations. The PDN Network segment consists of online professional networking communities dedicated to serving diverse professionals in the United States and employers seeking to hire diverse talent. The NAPW Network segment consists of the women-only professional networking organization dedicated to helping its members develop their professional networks, further their education and skills and promote their businesses and career accomplishments. The Noble Voice segment consists of the Company's lead-generation operations and sales as well as its career consultation operations, which provide companies seeking diverse talent with a sourced, qualified and ready to employ diverse job candidate.

For the year ended December 31, 2013, we operated a single segment which solely consisted of the business of PDN Network.

 

The following tables present key financial information of the Company's reportable segments as of and for the year ended December 31, 2014:

 

 

Year Ended December 31, 2014

  
 

PDN Network

  

NAPW Network

    

Noble Voice

    

Consolidated
                   

Recruitment services

  $ 2,920,791   $ -     $ -     $ 2,920,791

Consumer advertising and consumer marketing solutions revenue

    1,491,943     -     -     1,491,943

Membership fees and related services

    -     5,932,138     -     5,932,138

Lead generation revenue

    -     -     1,061,041     1,061,041

Product sales and other revenue

    -     237,818     -     237,818

Total revenues

    4,412,734     6,169,956     1,061,041     11,643,731

(Loss) income from operations

    (3,609,397 )     (2,417,068 )     428,895     (5,597,570 )

Depreciation and amortization

    369,314     700,099     15,038     1,084,451

Income tax (benefit) expense

    (3,320,079 )     258,831     (410 )     (3,062,108 )

Capital expenditures

    37,850     -     -     37,850

Net (loss) income

    (1,411,932 )     (2,675,449 )     429,305     (3,658,076 )
               
   

At December 31, 2014

Goodwill

    $ 735,328     $ 44,445,203     $ -     $ 45,180,531

Intangible assets, net

    90,400     14,208,492     635,333     14,934,225

Total assets

    11,691,453     62,897,805     3,319,494     77,908,752