| Segment Information |
Operating segments are defined as components of an
enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision–making
group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its Chief
Executive Officer.
The Company evaluated performance of its operating
segments based on revenue and operating loss. Segment information for the three months ended March 31, 2021 and 2020, are as follows:
| |
|
Surge Blockchain & Other |
|
|
LogicsIQ |
|
|
TW |
|
|
ECS |
|
|
Total |
|
| Three Months ended March 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
37,734 |
|
|
$ |
3,408,403 |
|
|
$ |
628,325 |
|
|
$ |
6,914,486 |
|
|
$ |
10,988,948 |
|
| Cost of revenue (exclusive of depreciation and amortization) |
|
|
(4,434 |
) |
|
|
(2,966,753 |
) |
|
|
(185,537 |
) |
|
|
(6,700,585 |
) |
|
|
(9,857,309 |
) |
| Gross margin |
|
|
33,300 |
|
|
|
441,650 |
|
|
|
442,788 |
|
|
|
213,901 |
|
|
|
1,131,639 |
|
| Costs and expenses |
|
|
(2,144,500 |
) |
|
|
(455,398 |
) |
|
|
(242,401 |
) |
|
|
(397,510 |
) |
|
|
(3,239,809 |
) |
| Operating profit (loss) |
|
$ |
(2,111,200 |
) |
|
$ |
(13,748 |
) |
|
$ |
200,387 |
|
|
$ |
(183,609 |
) |
|
$ |
(2,108,170 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Three Months ended March 31, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
298,402 |
|
|
$ |
5,451,919 |
|
|
$ |
290,705 |
|
|
$ |
9,746,773 |
|
|
$ |
15,787,799 |
|
| Cost of revenue (exclusive of depreciation and amortization) |
|
|
(303,503 |
) |
|
|
(4,738,537 |
) |
|
|
(491,557 |
) |
|
|
(9,525,317 |
) |
|
|
(15,058,914 |
) |
| Gross margin |
|
|
(5,101 |
) |
|
|
713,382 |
|
|
|
(200,852 |
) |
|
|
221,456 |
|
|
|
728,885 |
|
| Costs and expenses |
|
|
(1,716,882 |
) |
|
|
(343,138 |
) |
|
|
(1,049,910 |
) |
|
|
(384,194 |
) |
|
|
(3,494,124 |
) |
| Operating income (loss) |
|
$ |
(1,721,983 |
) |
|
$ |
370,244 |
|
|
$ |
(1,250,762 |
) |
|
$ |
(162,738 |
) |
|
$ |
(2,765,239 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| March 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
$ |
1,874,911 |
|
|
$ |
1,866,783 |
|
|
$ |
616,221 |
|
|
$ |
4,431,936 |
|
|
$ |
8,789,851 |
|
| Total liabilities |
|
|
12,274,317 |
|
|
|
3,181,477 |
|
|
|
3,477,262 |
|
|
|
247,883 |
|
|
|
19,180,939 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
$ |
911,316 |
|
|
$ |
1,079,806 |
|
|
$ |
515,592 |
|
|
$ |
4,818,357 |
|
|
$ |
7,325,071 |
|
| Total liabilities |
|
|
10,922,335 |
|
|
|
2,440,758 |
|
|
|
4,301,249 |
|
|
|
386,695 |
|
|
|
18,051,037 |
|
|