Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.21.1
Segment Information (Tables)
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Schedule of Operating Segments

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