XML 14 R4.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Consolidated Statements Of Operations And Comprehensive    
REVENUE $ 37,083,882 $ 30,013,379
COST OF REVENUE 34,675,242 28,057,111
GROSS PROFIT 2,408,640 1,956,267
OPERATING EXPENSES    
General and administrative expenses 3,593,132 4,852,801
Depreciation and amortization expense 43,930 25,903
Impairment of goodwill 1,949,884
TOTAL OPERATING EXPENSES 3,637,062 6,828,588
LOSS FROM OPERATIONS (1,228,422) (4,872,321)
OTHER INCOME (EXPENSE)    
Other income (expense) 19,078 (27,492)
Interest expense - related party (264) (2,592)
Interest expense (967,824) (748,474)
Non-cash interest expense (5,839,581) (886,483)
Forgiveness of debt 47,717
Gain on exchange of equity investments, and gain on change in fair value 2,500,000
Gain on sale of Amplerissimo 146,647
Loss on extinguishment of debt (1,464,698)
Debt modification expense (1,942,156)
Foreign currency transaction gain (loss) (313,829) 330,395
TOTAL OTHER EXPENSE, NET (7,814,910) (1,334,646)
LOSS BEFORE INCOME TAXES (9,043,332) (6,206,967)
INCOME TAX EXPENSE (17,326) (2,801)
NET LOSS (9,060,658) (6,209,768)
OTHER COMPREHENSIVE INCOME (LOSS)    
Foreign currency translation adjustment, net 1,418,057 (334,766)
TOTAL COMPREHENSIVE LOSS $ (7,642,601) $ (6,544,534)
BASIC NET LOSS PER SHARE $ (0.68) $ (0.49)
DILUTED NET LOSS PER SHARE $ (0.68) $ (0.49)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING    
Basic 13,306,612 12,780,013
Diluted 13,306,612 12,780,013