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SEGMENT INFORMATION AND REVENUE ANALYSIS | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
SEGMENT INFORMATION AND REVENUE ANALYSIS |
| 21. | Segment information and revenue analysis
The Company follows ASC 280, Segment Reporting, which requires that companies to disclose segment data based on how management makes decision about allocating resources to each segment and evaluating their performances. The Company has three reporting segments. The Company’s chief operating decision maker has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company. The Company considers itself to be operating within one reportable segment. The Company’s revenue and net income are substantially derived from interactive toys, and mobile games. Disaggregated information of revenues by business lines are as follows:
|  | Year ended |  |  | Year ended |  |  | Year ended |
|  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Interactive toys - animation series |  | $ | 1,969,141 |  |  | $ | 160,672 |  |  | $ | 522,638 |
Interactive toys - game series |  |  | 15,905,314 |  |  |  | 21,152,258 |  |  |  | 16,896,944 |
Mobile game |  |  | 2,473,162 |  |  |  | 2,521,199 |  |  |  | 1,111,596 |
Information service |  |  | 4,328,591 |  |  |  | - |  |  |  | - |
Communication service |  |  | 5,514,861 |  |  |  | - |  |  |  | - |
Total revenues |  | $ | 30,191,069 |  |  | $ | 23,834,129 |  |  | $ | 18,531,178 |
Disaggregated information by business lines are as follows: Year ended December 31, 2020
|  | Interactive toys |  |  | Interactive toys |  |  |  |  |  | Information |  |  | Communication |
|  | animation series |  |  | game series |  |  | Mobile game |  |  | Service |  |  | Service |
Revenue |  | $ | 1,969,141 |  |  | $ | 15,905,314 |  |  | $ | 2,473,162 |  |  |  | 4,328,591 |  |  |  | 5,514,861 |
Costs of revenue |  |  | (1,348,936 | ) |  |  | (5,490,820 | ) |  |  | (10,577 | ) |  |  | (4,334,411 | ) |  |  | (5,022,079 | )
Gross Profit |  | $ | 620,205 |  |  | $ | 10,414,494 |  |  | $ | 2,462,585 |  |  |  | (5,820 | ) |  |  | 492,782 |
Year ended December 31, 2019
|  | Interactive toys |  |  | Interactive toys |  |  |  |
|  | animation series |  |  | game series |  |  | Mobile game |
Revenue |  | $ | 160,672 |  |  | $ | 21,152,258 |  |  | $ | 2,521,199 |
Costs of revenue |  |  | (81,201 | ) |  |  | (7,160,508 | ) |  |  | (290,091 | )
Gross Profit |  | $ | 79,471 |  |  | $ | 13,991,750 |  |  | $ | 2,231,108 |
Year ended December 31, 2018
|  | Interactive toys |  |  | Interactive toys |  |  |  |
|  | animation series |  |  | game series |  |  | Mobile game |
Revenue |  | $ | 522,638 |  |  | $ | 16,896,944 |  |  | $ | 1,111,596 |
Costs of revenue |  |  | (379,069 | ) |  |  | (5,612,915 | ) |  |  | (116,692 | )
Gross Profit |  | $ | 143,569 |  |  | $ | 11,284,029 |  |  | $ | 994,904 |
The Company’s operations are primarily based in the PRC, where the Company derives a substantial portion of their revenues. Management also review consolidated financial results by business locations. Disaggregated information of revenues by geographic locations are as follows:
|  | Year ended |  |  | Year ended |  |  | Year ended |
|  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Domestic PRC revenues |  | $ | 30,191,069 |  |  | $ | 23,834,129 |  |  | $ | 18,407,891 |
Export revenues |  |  | - |  |  |  | - |  |  |  | 123,287 |
Total revenues |  | $ | 30,191,069 |  |  | $ | 23,834,129 |  |  | $ | 18,531,178 |

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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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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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