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Segment Information

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Information

16 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 profit (loss). Segment information for the three and nine months ended September 30, 2019 and 2018 and as of September 30, 2019 and December 31, 2018, are as follows:

		Surge				TW				Total
Three Months ended September 30, 2019
Revenue		$	3,428,766			$	1,473,098			$	4,901,864
Cost of revenue			(1,991,139	)			(1,032,153	)			(3,023,292	)
Gross margin			1,437,627				440,945				1,878,572
Costs and expenses			(2,154,161	)			(862,124	)			(3,016,285	)
Operating loss			(716,534	)			(421,179	)			(1,137,713	)
Three Months ended September 30, 2018
Revenue		$	819,149			$	3,231,878			$	4,051,027
Cost of revenue			(648,590	)			(1,591,857	)			(2,240,447	)
Gross margin			170,558				1,640,022				1,810,580
Costs and expenses			(867,997	)			(1,342,398	)			(2,210,395	)
Operating income (loss)			(697,438	)			297,623				(399,815	)
Nine Months ended September 30, 2019
Revenue		$	6,739,867			$	5,555,191			$	12,295,058
Cost of revenue			(4,282,620	)			(3,531,994	)			(7,814,614	)
Gross margin			2,457,247				2,023,197				4,480,444
Costs and expenses			(6,389,314	)			(2,872,659	)			(9,261,973	)
Operating loss			(3,932,067	)			(849,462	)			(4,781,529	)
Nine Months ended September 30, 2018
Revenue		$	1,554,363			$	9,982,227			$	11,536,590
Cost of revenue			(1,263,599	)			(4,897,118	)			(6,160,717	)
Gross margin			290,764				5,085,109				5,375,873
Costs and expenses			(1,638,265	)			(3,921,094	)			(5,559,359	)
Operating income (loss)			(1,347,501	)			1,164,015				(183,486	)
September 30, 2019
Total assets		$	10,380,654			$	2,352,747			$	12,733,401
Total liabilities			10,929,963				3,487,752				14,417,715
December 31, 2018
Total assets		$	947,550			$	3,136,768			$	4,084,318
Total liabilities			2,694,258				3,378,293				6,072,551

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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