Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v3.20.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Schedule of Operating Segments

The Company evaluated performance of its operating segments based on revenue and operating profit (loss). Segment information for the year ended December 31, 2019 and 2018 and as of December 31, 2019 and 2018, are as follows:

 

    Surge     TW     ECS      Total  
Year ended December 31, 2019                                
Revenue   $ 9,558,415     $ 5,417,388     $ 10,767,138     $ 25,742,941  
Cost of revenue     (5,916,947 )     (3,998,410 )     (10,390,096 )     (20,305,453 )
Gross margin     3,641,468       1,418,978       377,042       5,437,488  
Costs and expenses     (9,199,277 )     (3,597,229 )     (409,010 )     (13,205,516 )
Operating loss     (5,557,809 )     (2,178,251 )     (31,968 )     (7,768,028 )
                                 
Year ended December 31, 2018                                
Revenue   $ 2,445,468     $ 12,798,687     $ -     $ 15,244,155  
Cost of revenue     (1,864,727 )     (6,705,513 )     -       (8,570,240 )
Gross margin     580,741       6,093,174       -       6,673,915  
Costs and expenses     (2,558,156 )     (5,651,228 )     -       (8,209,384 )
Operating loss     (1,977,415 )     441,946       -       (1,535,469 )
                                 
December 31, 2019                                
Total assets   $ 3,636,624     $ 1,339,577     $ 5,010,172     $ 9,986,373  
Total liabilities     10,850,674       3,815,175       20,139       14,685,988  
                                 
December 31, 2018                                
Total assets   $ 947,550     $ 3,136,768     $ -     $ 4,084,318  
Total liabilities     2,694,258       3,378,293       -       6,072,551