Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.8.0.1
Segment Information
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
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