Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.7.0.1
Segment Information
12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Information
17. Segment Information

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 following tables present key financial information of the Company’s reportable segments as of and for the years ended December 31, 2016 and 2015:

 
 
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
   
-
     
-
     
6,239,057
     
6,239,057
 
Recruitment services
   
2,931,642
     
-
     
-
     
2,931,642
 
Products sales and other
   
-
     
578,466
     
-
     
578,466
 
Consumer advertising and marketing
solutions
   
222,969
     
-
     
-
     
222,969
 
Total revenues
   
3,154,611
     
16,833,398
     
6,239,057
     
26,227,066
 
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
)
Capital expenditures
   
-
     
5,292
     
-
     
5,292
 
Net loss
   
(2,137,577
)
   
(1,110,358
)
   
(860,567
)
   
(4,108,502
)

 
 
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
 
 
 
 
Year Ended December 31, 2015
 
 
 
PDN Network
   
NAPW
Network
   
Noble Voice
   
Consolidated
 
 
                       
Membership fees and related services
 
$
-
   
$
24,530,170
   
$
-
   
$
24,530,170
 
Lead generation revenue
   
-
     
-
     
9,499,203
     
9,499,203
 
Recruitment services
   
3,123,537
     
-
     
-
     
3,123,537
 
Product sales and other revenue
   
-
     
748,648
     
-
     
748,648
 
Consumer advertising and consumer
marketing
solutions revenue
   
280,043
     
-
     
-
     
280,043
 
Total revenues
   
3,403,580
     
25,278,818
     
9,499,203
     
38,181,601
 
(Loss) income from operations
   
(2,489,968
)
   
(32,749,542
)
   
(1,152,018
)
   
(36,391,528
)
Depreciation and amortization
   
378,936
     
3,089,355
     
182,456
     
3,650,747
 
Income tax (benefit) expense
   
2,429,932
     
(429,316
)
   
(81,119
)
   
1,919,497
 
Capital expenditures
   
-
     
39,463
     
44,774
     
84,237
 
Net (loss) income
   
(4,884,307
)
   
(32,320,226
)
   
(1,050,738
)
   
(38,255,271
)
 
   
-
                         
 
 
At December 31, 2015
 
Goodwill
 
$
339,451
   
$
19,861,739
   
$
-
   
$
20,201,190
 
Intangible assets, net
   
90,400
     
11,502,106
     
459,333
     
12,051,839
 
Total assets
   
4,167,229
     
34,985,831
     
2,274,756
     
41,427,816