| Segment Information |
14. 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. For the three and nine months ended September 30, 2014, the Company 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 three and nine months ended September 30, 2015:
|
|
Three Months Ended September 30, 2015 |
|
|
|
PDN Network |
|
|
NAPW Network |
|
|
Noble Voice |
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Membership fees and related services
|
|
$ |
- |
|
|
$ |
5,775,006 |
|
|
$ |
- |
|
|
$ |
5,775,006 |
|
| Lead generation |
|
|
- |
|
|
|
- |
|
|
|
2,334,276 |
|
|
|
2,334,276 |
|
| Recruitment services |
|
|
830,250 |
|
|
|
- |
|
|
|
- |
|
|
|
830,250 |
|
| Products sales and other |
|
|
- |
|
|
|
330,769 |
|
|
|
- |
|
|
|
330,769 |
|
| Consumer advertising and marketing solutions |
|
|
73,011 |
|
|
|
- |
|
|
|
- |
|
|
|
73,011 |
|
| Total revenues |
|
|
903,261 |
|
|
|
6,105,775 |
|
|
|
2,334,276 |
|
|
|
9,343,312 |
|
| Loss from operations |
|
|
(491,126 |
) |
|
|
(25,846,331 |
) |
|
|
(339,150 |
) |
|
|
(26,676,607 |
) |
| Depreciation and amortization |
|
|
93,922 |
|
|
|
786,148 |
|
|
|
45,614 |
|
|
|
925,684 |
|
| Income tax expense |
|
|
2,362,220 |
|
|
|
543,018 |
|
|
|
70,979 |
|
|
|
2,976,217 |
|
| Capital expenditures |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Net loss |
|
|
(2,857,969 |
) |
|
|
(26,389,349 |
) |
|
|
(410,129 |
) |
|
|
(29,657,447 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
At September 30, 2015
|
|
| Goodwill |
|
$ |
735,328 |
|
|
$ |
19,861,739 |
|
|
$ |
- |
|
|
$ |
20,597,067 |
|
| Intangible assets, net |
|
|
90,400 |
|
|
|
12,175,206 |
|
|
|
503,333 |
|
|
|
12,768,939 |
|
| Total assets |
|
|
6,032,009 |
|
|
|
37,204,260 |
|
|
|
2,543,735 |
|
|
|
45,780,004 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2015
|
|
|
|
PDN Network
|
|
|
NAPW Network
|
|
|
Noble Voice
|
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Membership fees and related services
|
|
$ |
- |
|
|
$ |
19,317,933 |
|
|
$ |
- |
|
|
$ |
19,317,933 |
|
|
Lead generation
|
|
|
- |
|
|
|
- |
|
|
|
7,853,402 |
|
|
|
7,853,402 |
|
|
Recruitment services
|
|
|
2,432,951 |
|
|
|
- |
|
|
|
- |
|
|
|
2,432,951 |
|
|
Products sales and other
|
|
|
- |
|
|
|
631,198 |
|
|
|
- |
|
|
|
631,198 |
|
|
Consumer advertising and marketing solutions
|
|
|
209,097 |
|
|
|
- |
|
|
|
- |
|
|
|
209,097 |
|
|
Total revenues
|
|
|
2,642,048 |
|
|
|
19,949,131 |
|
|
|
7,853,402 |
|
|
|
30,444,581 |
|
|
Loss from operations
|
|
|
(1,727,721 |
) |
|
|
(27,958,089 |
) |
|
|
(818,410 |
) |
|
|
(30,504,220 |
) |
|
Depreciation and amortization
|
|
|
285,677 |
|
|
|
2,308,361 |
|
|
|
136,842 |
|
|
|
2,730,880 |
|
|
Income tax expense (benefit)
|
|
|
1,895,588 |
|
|
|
(271,103 |
) |
|
|
(115,090 |
) |
|
|
1,509,395 |
|
|
Capital expenditures
|
|
|
- |
|
|
|
50,216 |
|
|
|
13,938 |
|
|
|
64,154 |
|
|
Net loss
|
|
|
(3,588,298 |
) |
|
|
(27,686,986 |
) |
|
|
(703,320 |
) |
|
|
(31,978,604 |
) |
|