| Segment Information |
17. Segment Information
Beginning in January 2017, the Company
operates in the following segments: (A) United States: (i) PDN Network, (ii) NAPW Network and (iii) Noble Voice operations, and
(B) China Operations. The segments are categorized based on their business activities and organization. Prior to January 2017,
the Company operated solely in the United States in the following segments: (i) PDN Network, (ii) NAPW Network and (iii) Noble
Voice operations. The following tables present key financial information of the Company’s reportable segments as of and for
the years ended December 31, 2017 and 2016:
| |
|
Year Ended December 31, 2017 |
|
| |
|
United States |
|
|
|
|
|
|
|
| |
|
PDN
Network
|
|
|
NAPW
Network
|
|
|
Noble Voice |
|
|
China Operations |
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
9,371,843 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
9,371,843 |
|
| Lead generation |
|
|
- |
|
|
|
- |
|
|
|
5,973,964 |
|
|
|
- |
|
|
|
5,973,964 |
|
| Recruitment services |
|
|
2,578,597 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,578,597 |
|
| Products sales and other |
|
|
- |
|
|
|
100,289 |
|
|
|
- |
|
|
|
- |
|
|
|
100,289 |
|
| Education and training |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,776,546 |
|
|
|
3,776,546 |
|
| Consumer advertising and marketing solutions |
|
|
252,980 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
252,980 |
|
| Total revenues |
|
|
2,831,577 |
|
|
|
9,472,132 |
|
|
|
5,973,964 |
|
|
|
3,776,546 |
|
|
|
22,054,219 |
|
| Income (Loss) from operations |
|
|
(2,270,138 |
) |
|
|
(20,411,655 |
) |
|
|
(1,808,521 |
) |
|
|
453,064 |
|
|
|
(24,037,250 |
) |
| Depreciation and amortization |
|
|
83,367 |
|
|
|
2,914,076 |
|
|
|
189,527 |
|
|
|
10,221 |
|
|
|
3,197,191 |
|
| Income tax expense (benefit) |
|
|
(154,826 |
) |
|
|
(1,583,553 |
) |
|
|
(111,376 |
) |
|
|
104,241 |
|
|
|
(1,745,514 |
) |
| Net loss |
|
|
(2,094,459 |
) |
|
|
(18,828,102 |
) |
|
|
(1,697,145 |
) |
|
|
332,157 |
|
|
|
(22,287,549 |
) |
| Capital expenditures |
|
|
100,823 |
|
|
|
10,646 |
|
|
|
(7,634 |
) |
|
|
49,793 |
|
|
|
153,628 |
|
| |
|
At December 31, 2017 |
|
| Goodwill |
|
$ |
339,451 |
|
|
$ |
5,250,699 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
5,590,150 |
|
| Intangible assets, net |
|
|
90,400 |
|
|
|
6,174,306 |
|
|
|
116,500 |
|
|
|
- |
|
|
|
6,381,206 |
|
| Total assets |
|
|
1,726,061 |
|
|
|
12,889,367 |
|
|
|
1,317,213 |
|
|
|
3,056,281 |
|
|
|
18,988,922 |
|
| |
|
Year Ended December 31, 2016 |
|
| |
|
PDN Network |
|
|
NAPW
Network
|
|
|
Noble Voice |
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Membership fees and related services |
|
$ |
- |
|
|
$ |
16,254,932 |
|
|
$ |
- |
|
|
$ |
16,254,932 |
|
| Lead generation revenue |
|
|
- |
|
|
|
- |
|
|
|
6,239,057 |
|
|
|
6,239,057 |
|
| Recruitment services |
|
|
2,931,642 |
|
|
|
- |
|
|
|
- |
|
|
|
2,931,642 |
|
| Product sales and other revenue |
|
|
- |
|
|
|
578,466 |
|
|
|
- |
|
|
|
578,466 |
|
| Consumer advertising and consumer marketing solutions |
|
|
222,969 |
|
|
|
- |
|
|
|
- |
|
|
|
222,969 |
|
| Total revenues |
|
|
3,154,611 |
|
|
|
16,833,398 |
|
|
|
6,239,057 |
|
|
|
26,227,066 |
|
| Income (Loss) from operations |
|
|
(997,569 |
) |
|
|
(1,458,503 |
) |
|
|
(1,130,391 |
) |
|
|
(3,586,463 |
) |
| Depreciation and amortization |
|
|
168,192 |
|
|
|
2,946,323 |
|
|
|
209,196 |
|
|
|
3,323,711 |
|
| Income tax expense (benefit) |
|
|
(671,665 |
) |
|
|
(348,145 |
) |
|
|
(269,824 |
) |
|
|
(1,289,634 |
) |
| Net (loss) income |
|
|
(2,137,577 |
) |
|
|
(1,110,358 |
) |
|
|
(860,567 |
) |
|
|
(4,108,502 |
) |
| Capital expenditures |
|
|
- |
|
|
|
5,292 |
|
|
|
- |
|
|
|
5,292 |
|
| |
|
At December 31, 2016 |
|
| Goodwill |
|
$ |
339,451 |
|
|
$ |
19,861,739 |
|
|
$ |
- |
|
|
$ |
20,201,190 |
|
| Intangible assets, net |
|
|
90,400 |
|
|
|
8,809,706 |
|
|
|
283,333 |
|
|
|
9,183,439 |
|
| Total assets |
|
|
7,643,471 |
|
|
|
31,457,958 |
|
|
|
2,036,448 |
|
|
|
41,137,877 |
|
|