Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.1
Segment Information
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Information

12. Segment Information

 

The Company operates in the following segments: (i) PDN Network, (ii) NAPW Network and (iii) 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 related of the Company’s reportable segments related to financial position as of March 31, 2021 and December 31, 2020 and results of operations for the three months ended March 31, 2021 and 2020:

 

    Three Months Ended March 31, 2021  
    PDN     NAPW     Corporate        
    Network     Network     Overhead     Consolidated  
Membership fees and related services   $ -     $ 263,205     $ -     $ 263,205  
Recruitment services     1,175,080       -       -       1,175,080  
Products sales and other     -       1,431       -       1,431  
Consumer advertising and marketing solutions     45,137       -       -       45,137  
Total revenues     1,220,217       264,636       -       1,484,853  
Income (loss) from continuing operations     312,823       (246,419 )     (889,880 )     (823,476 )
Depreciation and amortization     1,178       28,429       -       29,607  
Income tax benefit     (46,357 )     (20,620 )     -       (66,977 )
Net loss from continuing operations     360,065       (225,799 )     (889,880 )     (755,614 )

 

    As of March 31, 2021  
Goodwill   $ 339,451     $ -     $ -     $ 339,451  
Intangibles assets, net     90,400       266,726       -       357,126  
Assets from continuing operations     4,643,168       1,189,511       -       5,832,679  

 

    Three Months Ended March 31, 2020  
    PDN     NAPW     Corporate        
    Network     Network     Overhead     Consolidated  
Membership fees and related services   $ -     $ 383,831     $ -     $ 383,831  
Recruitment services     566,687       -       -       566,687  
Products sales and other     -       1,431       -       1,431  
Consumer advertising and marketing solutions     30,348       -       -       30,348  
Total revenues     597,035       385,262       -       982,297  
Loss from continuing operations     (150,024 )     (68,110 )     (1,210,870 )     (1,429,004 )
Depreciation and amortization     14,675       37,326       -       52,001  
Income tax benefit     (951 )     (407 )     (4,551 )     (5,909 )
Net loss from continuing operations     (148,409 )     (67,703 )     (1,206,319 )     (1,422,431 )

 

    As of December 31, 2020  
Goodwill   $ 339,451     $ -     $ -     $ 339,451  
Intangibles assets, net     90,400       285,778       -       376,178  
Assets from continuing operations     4,455,262       1,126,005       -       5,581,267