Quarterly report pursuant to Section 13 or 15(d)

Business Segment Results

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Business Segment Results
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Note 8. Business Segment Results

The Company has two principal business segments, (1) the technology business and (2) the consulting services business. These business segments were determined based on the nature of the operations and the services offered. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief decision-makers of the Company, in deciding how to allocate resources and in assessing performance. The Chief Executive Officer and Chief Financial Officer have been identified as the chief operating decision makers. The chief operating decision makers direct the allocation of resources to operating segments based on the profitability, the cash flows, and the business plans of each respective segment.

 

BUSINESS SEGMENT RESULTS - THREE MONTHS ENDED JUNE 30, 2018 AND 2017

 

                            Corporate and              
    Consulting     Technology     Eliminations     Total  
    2018     2017     2018     2017     2018     2017     2018     2017  
Revenue   $ -     $ 14,425     $ -     $ -     $ -     $ -     $ -     $ 14,425  
Other income   $ -     $ -     $ 187,031     $ -     $ -     $ -     $ 187,031     $ -  
Equity in loss from joint venture   $ -     $ -     $ (1,773,445 )   $ -     $ -     $ -     $ (1,773,445 )   $ -  
Segment Profit (Loss) - Pre-Tax   $ -     $ 13,416     $ (2,124,445 )   $ (545,644 )   $ (1,392,568 )   $ (1,105,435 )   $ (3,517,013 )   $ (1,637,663 )
Total Assets   $ -     $ 10,889     $ 1,506,672     $ 1,275,637     $ 28,645,414     $ 5,465,581     $ 30,152,086     $ 6,752,107  
Investment in joint venture   $ -     $ -     $ 2,415,228     $ -     $ -     $ -     $ 2,415,228     $ -  

 

BUSINESS SEGMENT RESULTS – SIX MONTHS ENDED JUNE 30, 2018 AND 2017

 

                            Corporate and              
    Consulting     Technology     Eliminations     Total  
    2018     2017     2018     2017     2018     2017     2018     2017  
Revenue   $ -     $ 149,910     $ -     $ -     $ -     $ -     $ -     $ 149,910  
Other income   $ -     $ -     $ 587,374     $ -     $ -     $ -       587,374       -  
Equity in loss from joint venture   $ -     $ -     $ (2,801,772 )   $ -     $ -     $ -       (2,801,772 )     -  
Segment (Loss) Profit- Pre-Tax   $ -     $ (59,945 )   $ (3,663,643 )   $ (1,009,987 )   $ (4,574,857 )   $ (2,318,034 )   $ (8,238,500 )   $ (3,382,966 )
Total Assets   $ -     $ 10,889     $ 1,506,672     $ 1,275,637     $ 28,645,414     $ 5,465,581     $ 30,152,086     $ 6,752,107  
Investment in joint venture   $ -     $ -     $ 2,415,228     $ -     $ -     $ -     $ 2,415,228     $ -