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Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 18 – SEGMENT INFORMATION

 

The Company currently has two operating segments, (i) Gujia, MM Future, HC Securities and MMBD Advisory provide market data services and fund management services, and (ii) MM Global operates as an introducing broker that clears all transactions through a clearing broker dealer and earns commission income and other related income from customers. Unallocated amounts that do not relate to an operating segment have been allocated to “Unallocated.” Since most of the Company’s long-lived assets are located in the PRC, no geographical information on long-lived assets is presented. Refer to Note 3 for disaggregated revenue information by geographical region attributed on the basis of the location where the revenue is originated.

 

The following tables present summary information by segment:

 

   Gujia, MM Future, HC Securities and MMBD Advisory   MM Global   Unallocated   Total 
Year Ended December 31, 2021                
REVENUE  $260,678   $392,358   $
-
   $653,036 
                     
GROSS PROFIT  $119,376   $392,358   $
-
   $511,734 
                     
NET LOSS  $(4,008,966)  $(451,204)  $(2,590,585)  $(7,050,755)
                     
DEPRECIATION AND AMORTIZATION  $40,130   $
-
   $
-
   $40,130 
CAPITAL EXPENDITURE  $37,068   $
-
   $
-
   $37,068 
                     
Year Ended December 31, 2020                    
REVENUE  $94,637   $647,488   $
-
   $742,125 
                     
GROSS PROFIT  $87,232   $647,488   $
-
   $734,720 
                     
NET INCOME (LOSS)  $(1,576,531)  $46,280   $(1,651,345)  $(3,181,596)
                     
DEPRECIATION AND AMORTIZATION  $54,576   $
-
   $
-
   $54,576 
CAPITAL EXPENDITURE  $18,379   $
-
   $
-
   $18,379 
                     
Year Ended December 31, 2019                    
REVENUE  $161,832   $38,965   $
-
   $200,797 
                     
GROSS PROFIT  $70,942   $38,965   $
-
   $109,907 
                     
NET LOSS  $(1,264,273)  $(36,418)  $(942,543)  $(2,243,234)
                     
DEPRECIATION AND AMORTIZATION  $25,839   $
-
   $
-
   $25,839 
CAPITAL EXPENDITURE  $129,800   $
-
   $
-
   $129,800 
                     
As of December 31, 2021                    
TOTAL ASSETS  $6,204,026   $121,358   $8,262,117   $14,587,501 
As of December 31, 2020                    
TOTAL ASSETS  $2,912,884   $295,064   $502,324   $3,710,272