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Segments | 3 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Segments |
| 4. | SEGMENTS
Operating segments are defined as components of an enterprise about which separate financial information is available that is 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 the CEO. The Company operates in and reports four business segments: property development, digital transformation technology, biohealth, and other business activities. The Company’s reportable segments are determined based on the services they perform and the products they sell, not on the geographic area in which they operate. The Company’s chief operating decision maker evaluates segment performance based on segment revenue. Costs excluded from segment income (loss) before taxes and reported as “Other” consist of corporate general and administrative activities which are not allocable to the four reportable segments. The following table summarizes the Company’s segment information for the following balance sheet dates presented, and for the three months ended March 31, 2021 and 2020:
|  | Property Development |  |  | Digital Transformation Technology |  |  | Biohealth Business |  |  | Other |  |  | Total |
Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 3,894,131 |  |  | $ | - |  |  | $ | 1,712,783 |  |  | $ | - |  |  | $ | 5,606,914 |
Cost of Sales |  |  | (3,614,832 | ) |  |  | - |  |  |  | (83,022 | ) |  |  | - |  |  |  | (3,697,854 | )
Gross Margin |  |  | 279,299 |  |  |  | - |  |  |  | 1,629,761 |  |  |  | - |  |  |  | 1,909,060 |
Operating Expenses |  |  | (359,489 | ) |  |  | (30,128 | ) |  |  | (846,480 | ) |  |  | (1,076,408 | ) |  |  | (2,312,505 | )
Operating Income (Loss) |  |  | (80,190 | ) |  |  | (30,128 | ) |  |  | 783,281 |  |  |  | (1,076,408 | ) |  |  | (403,445 | )
Other Income (Expense) |  |  | (9,873 | ) |  |  | (36,471 | ) |  |  | (8,371,117 | ) |  |  | (532,505 | ) |  |  | (8,949,966 | )
Net Income (Loss) Before Income Tax |  |  | (90,063 | ) |  |  | (66,599 | ) |  |  | (7,587,836 | ) |  |  | (1,608,913 | ) |  |  | (9,353,411 | )
|  | Property Development |  |  | Digital Transformation Technology |  |  | Biohealth Business |  |  | Other |  |  | Total |
Three Months ended March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 2,954,389 |  |  | $ | - |  |  | $ | 10,782 |  |  | $ | - |  |  | $ | 2,965,171 |
Cost of Sales |  |  | (2,380,820 | ) |  |  | - |  |  |  | (2,883 | ) |  |  | - |  |  |  | (2,383,703 | )
Gross Margin |  |  | 573,569 |  |  |  | - |  |  |  | 7,899 |  |  |  | - |  |  |  | 581,468 |
Operating Expenses |  |  | (277,056 | ) |  |  | (18,228 | ) |  |  | (132,791 | ) |  |  | (575,784 | ) |  |  | (1,003,859 | )
Operating Income (Loss) |  |  | 296,513 |  |  |  | (18,228 | ) |  |  | (124,892 | ) |  |  | (575,784 | ) |  |  | (422,391 | )
Other Income (Expense) |  |  | 7,539 |  |  |  | (92,477 | ) |  |  | 193 |  |  |  | 2,762,701 |  |  |  | 2,677,956 |
Net Income (Loss) Before Income Tax |  |  | 304,052 |  |  |  | (110,705 | ) |  |  | (124,699 | ) |  |  | 2,186,917 |  |  |  | 2,255,565 |
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Restricted Cash |  | $ | 9,842,218 |  |  | $ | 154,738 |  |  | $ | 3,251,622 |  |  | $ | 15,756,505 |  |  | $ | 29,005,083 |
Total Assets |  |  | 30,877,470 |  |  |  | 154,840 |  |  |  | 43,241,793 |  |  |  | 34,523,886 |  |  |  | 108,797,989 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Restricted Cash |  | $ | 8,150,769 |  |  | $ | 158,058 |  |  | $ | 1,590,265 |  |  | $ | 21,336,364 |  |  | $ | 31,235,456 |
Total Assets |  |  | 28,954,484 |  |  |  | 158,160 |  |  |  | 524,603 |  |  |  | 77,574,674 |  |  |  | 107,211,921 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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