Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.22.1
Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information

15. Segment Information

 

The Company operates in the following segments: (i) PDN Network, (ii) NAPW Network, (iii)RemoteMore (beginning in fiscal 2021)) and (iv) 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, 2021 and 2020:

 

    Network     Network     RemoteMore     Overhead     Consolidated  
    Year Ended December 31, 2021  
    PDN     NAPW           Corporate        
    Network     Network     RemoteMore     Overhead     Consolidated  
Membership fees and related services   $ -     $ 985,446     $ -     $ -     $ 985,446  
Recruitment services     4,646,786       -       -       -       4,646,786  
Contracted software development     -       -       302,882       -       302,882  
Consumer advertising and marketing solutions     163,485       -       -       -       163,485  
Total revenues     4,810,271       985,446       302,882       -       6,098,599  
Income (loss) from continuing operations     1,069,451       (849,599 )     (352,165 )     (2,758,151 )     (2,890,464 )
Depreciation and amortization     15,235       100,037       269,889       -       385,161  
Income tax expense (benefit)     12,135       (8,757 )     -       (24,918 )     (21,540 )
Net income (loss) from continuing operations     1,065,561       (839,674 )     (353,579 )     (2,733,233 )     (2,860,925 )
                                         
       
    As of December 31, 2021  
Goodwill   $ 339,451     $ -     $ 935,334     $ -     $ 1,274,785  
Intangibles assets, net     90,400       209,570       668,311       -       968,281  
Assets from continuing operations     7,596,499       684,881       501,198       -       8,782,578  

 

 

    Network     Network     RemoteMore     Overhead     Consolidated  
          Year Ended December 31, 2020  
    PDN Network    

NAPW

Network

     RemoteMore    

Corporate

Overhead

     Consolidated  
Membership fees and related services   $ -     $ 1,350,527       0     $ -     $ 1,350,527  
Recruitment services     2,962,275       -       0       -       2,962,275  
Contracted software development     -       -       0       -       -  
Consumer advertising and marketing solutions     143,934       -       0       -       143,934  
Total revenues     3,106,209       1,350,527       0       -       4,456,736  
Loss from continuing operations     197,739       (543,706 )     0       (4,499,250 )     (4,845,217 )
Depreciation and amortization     32,885       137,017       0       -       169,902  
Income tax (benefit) expense     9,119       (4,797 )     0       (39,537 )     (35,215 )
Net (loss) income from continuing operations     840,660       (538,909 )     0       (4,459,713 )     (4,157,962 )
                                         
              As of December 31, 2020
Goodwill   $ 339,451     $ -       0     $ -     $ 339,451  
Intangibles assets, net     90,400       285,778       0       -       376,178  
Assets from continuing operations     4,455,262       1,126,005       0       -       5,581,267