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SEGMENT REPORTING (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes and other explanatory information [abstract] |
SUMMARY OF DETAILED SEGMENT INFORMATION | The detailed segment information of the Company is as follows: SUMMARY OF DETAILED SEGMENT INFORMATION
|  | Education |  |  | Campus |  |  | Total |  |  | Education (1) |  |  | Campus |  |  | Total |  |  | Education |  |  | Campus |  |  | Total |
|  | For the Years ended December 31 |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | As Restated (1) |
|  | Education |  |  | Campus |  |  | Total |  |  | Education |  |  | Campus |  |  | Total |  |  | Education |  |  | Campus |  |  | Total |
Revenues |  | $ | 18,611,370 |  |  | $ | 4,451,384 |  |  | $ | 23,062,754 |  |  | $ | 13,555,495 |  |  | $ | 4,638,121 |  |  | $ | 18,193,616 |  |  |  | 5,192,594 |  |  |  | 3,102,210 |  |  |  | 8,294,804 |
Depreciation and amortization(1)(2) |  | $ | 2,938,552 |  |  | $ | 332,498 |  |  | $ | 3,271,051 |  |  | $ | 1,245,215 |  |  | $ | 1,105,425 |  |  | $ | 2,350,640 |  |  |  | 426,740 |  |  |  | 1,148,173 |  |  |  | 1,574,913 |
Loss from operations |  | $ | (36,217,860 | ) |  | $ | 150,525 |  |  | $ | (36,067,335 | ) |  | $ | (32,591,762 | ) |  | $ | (9,746,037 | ) |  | $ | (42,337,799 | ) |  |  | (2,153,975 | ) |  |  | (2,014,509 | ) |  |  | (4,168,484 | )
Net Profit/(Loss) |  | $ | (5,899,772 | ) |  | $ | 188,550 |  |  | $ | (5,711,222 | ) |  | $ | (46,113,518 | ) |  | $ | (9,892,921 | ) |  | $ | (56,006,439 | ) |  |  | (2,252,795 | ) |  |  | (2,365,255 | ) |  |  | (4,618,050 | )
Interest Expense, net |  | $ | 3,578,911 |  |  | $ | 115,602 |  |  | $ | 3,694,513 |  |  | $ | (943,916 | ) |  | $ | (368,560 | ) |  | $ | (1,312,476 | ) |  |  | (98,819 | ) |  |  | (350,747 | ) |  |  | (449,566 | )
Capital Expenditures |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  | - |  |  |  | - |  |  |  | - |
Property and equipment, net |  | $ | 456,751 |  |  | $ | — |  |  | $ | 456,751 |  |  | $ | 563,131 |  |  | $ | — |  |  | $ | 563,131 |  |  |  | 15,442 |  |  |  | 6,760,674 |  |  |  | 6,776,116 |
Total Assets |  | $ | 43,213,773 |  |  | $ | — |  |  | $ | 43,213,773 |  |  | $ | 88,120,390 |  |  | $ | 3,139,237 |  |  | $ | 91,259,627 |  |  |  | 5,122,967 |  |  |  | 12,472,440 |  |  |  | 17,595,407 |
Total Liabilities |  | $ | 23,498,780 |  |  | $ | — |  |  | $ | 23,498,780 |  |  | $ | 71,656,141 |  |  | $ | 5,648,650 |  |  | $ | 77,304,791 |  |  |  | 3,589,315 |  |  |  | 6,020,096 |  |  |  | 9,609,411 |
(1) | Consists of $575,309 (2022-$577,998) of Education segment depreciation and amortization which is included in cost of revenue and $2,363,243 (2022-$667,217) which is included in operating expenses in the accompanying statements of operations
(2) | Consists of $0 (2022-$590,228) of Campus segment depreciation and amortization which is included in cost of revenue and $332,498 (2022-$515,197) which is included in operating expenses in the accompanying statements of operations
SUMMARY OF REVENUE AND NON-CURRENT ASSETS BY GEOGRAPHIC LOCATION | A summary of non-current assets (other than financial instruments) by geographic location appears below: SUMMARY OF REVENUE AND NON-CURRENT ASSETS BY GEOGRAPHIC LOCATION
|  | Education |  |  | Campus |  |  | Total |  |  | Education |  |  | Campus |  |  | Total |
|  | For the Years Ended December 31, |
|  | 2023 |  |  | 2022 |
|  | Education |  |  | Campus |  |  | Total |  |  | Education |  |  | Campus |  |  | Total |
Europe / Middle East / Africa |  | $ | 20,318,361 |  |  |  | — |  |  | $ | 20,318,361 |  |  | $ | 12,792,087 |  |  | $ | 3,473,507 |  |  | $ | 16,265,594 |
Asia / Pacific |  |  | 3,971,427 |  |  |  | — |  |  |  | 3,971,427 |  |  |  | 24,799,301 |  |  |  | 4,112,755 |  |  |  | 28,912,056 |
North America / South America |  |  | 9,290,120 |  |  |  | — |  |  |  | 9,290,120 |  |  |  | 21,831,530 |  |  |  | — |  |  |  | 21,831,530 |
Non-current assets |  | $ | 33,579,908 |  |  | $ | — |  |  | $ | 33,579,908 |  |  | $ | 59,422,918 |  |  | $ | 7,586,262 |  |  | $ | 67,009,180 |
A summary of revenue by geographic location appears below:
|  | Education |  |  | Campus |  |  | Total |  |  | Education |  |  | Campus |  |  | Total |
|  | For the Years Ended December 31, |
|  | 2023 |  |  | 2022 |
|  | Education |  |  | Campus |  |  | Total |  |  | Education |  |  | Campus |  |  | Total |
Europe / Middle East / Africa |  | $ | 4,134,861 |  |  | $ | 2,524,821 |  |  | $ | 6,659,682 |  |  | $ | 3,857,193 |  |  | $ | 2,403,570 |  |  | $ | 6,260,763 |
Asia / Pacific |  |  | 3,374,298 |  |  |  | 1,926,563 |  |  |  | 5,300,861 |  |  |  | 2,073,866 |  |  |  | 2,234,551 |  |  |  | 4,308,417 |
North America / South America |  |  | 11,102,211 |  |  |  | - |  |  |  | 11,102,211 |  |  |  | 7,624,436 |  |  |  | - |  |  |  | 7,624,436 |
Revenue |  | $ | 18,611,370 |  |  | $ | 4,451,384 |  |  | $ | 23,062,754 |  |  | $ | 13,555,495 |  |  | $ | 4,638,121 |  |  | $ | 18,193,616 |

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