XML 92 R26.htm IDEA: XBRL DOCUMENT
v3.20.1

Consolidated Segment Data | 12 Months Ended
--- | ---
Dec. 31, 2019
Segment Reporting [Abstract] |
Consolidated Segment Data | 18. CONSOLIDATED SEGMENT DATA Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions, and assesses operating performance. Transfers and sales between reportable segments, if any, are recorded at cost. All sales occurred in China since our revenue-generating operations are located in China. Selected information by segment is presented in the following tables for the year ended December 31, 2019, 2018, and 2017.
|  | 2019 |  |  | 2018 |  |  | 2017 |
Revenues(1) |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | 241,132 |  |  | $ | 383,420 |  |  | $ | 1,239,002 |
CBT Segment |  |  | 13,550,171 |  |  |  | 20,194,920 |  |  |  | 16,950,272 |
|  | $ | 13,791,303 |  |  | $ | 20,578,340 |  |  | $ | 18,189,274 |
(1) Revenues by operating segments exclude intercompany transactions.
|  | 2019 |  |  | 2018 |  |  | 2017 |
(Loss) income from operations |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | (662,556 | ) |  | $ | (528,891 | ) |  | $ | (979,973 | )
CBT Segment |  |  | (2,037,151 | ) |  |  | 2,391,930 |  |  |  | 1,934,001 |
Corporate and others(2) |  |  | (1,472,454 | ) |  |  | (1,694,215 | ) |  |  | (1,404,731 | )
(Loss) income from operations |  |  | (4,172,161 | ) |  |  | 168,824 |  |  |  | (450,703 | )
Corporate other income, net |  |  | 669,755 |  |  |  | 956,753 |  |  |  | 758,073 |
Corporate interest income |  |  | 133,517 |  |  |  | 36,381 |  |  |  | 7,900 |
Corporate interest expense |  |  | (499,852 | ) |  |  | (484,403 | ) |  |  | (450,024 | )
Corporate warrant income |  |  | - |  |  |  | - |  |  |  | 3,720 |
(Loss) income before income taxes |  |  | (3,868,741 | ) |  |  | 677,555 |  |  |  | (131,034 | )
Income tax benefit |  |  | 274,480 |  |  |  | 1,201,231 |  |  |  | 1,070,343 |
Net (loss) income |  |  | (3,594,261 | ) |  |  | 1,878,786 |  |  |  | 939,309 |
Less: (Loss) income attributable to the non-controlling interest |  |  | 11,929 |  |  |  | (186,803 | ) |  |  | (80,704 | )
Net (loss) income attributable to the Company |  | $ | (3,582,332 | ) |  | $ | 1,691,983 |  |  | $ | 858,605 |
(2) Includes non-cash compensation, professional fees and consultancy fees for the Company. Non-cash employee compensation by segment for the year ended December 31, 2019, 2018, and 2017 are as follows:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Non-cash employee compensation: |  |  |  |  |  |  |  |  |  |  |  |
Corporate and others |  |  | 494,316 |  |  |  | 584,629 |  |  |  | 487,407 |
|  | $ | 494,316 |  |  | $ | 584,629 |  |  | $ | 487,407 |
Depreciation and amortization by segment for the year ended December 31, 2019, 2018, and 2017 are as follows:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | 17,278 |  |  | $ | 13,941 |  |  | $ | 36,018 |
CBT Segment |  |  | 2,883,674 |  |  |  | 3,660,596 |  |  |  | 2,820,888 |
|  | $ | 2,900,952 |  |  | $ | 3,674,537 |  |  | $ | 2,856,906 |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Provisions for bad debt allowance on accounts receivable, other receivable and advances to suppliers; : |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | 344,550 |  |  | $ | (438,378 | ) |  | $ | 273,706 |
CBT Segment |  |  | 3,283,994 |  |  |  | 1,268,644 |  |  |  | 148,682 |
|  | $ | 3,628,544 |  |  | $ | 830,266 |  |  | $ | 422,388 |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Inventory obsolescence provision: |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | 2,366 |  |  | $ | 9,261 |  |  | $ | 158,357 |
CBT Segment |  |  | 112,824 |  |  |  | 21,142 |  |  |  | 18,213 |
|  | $ | 115,190 |  |  | $ | 30,403 |  |  | $ | 176,570 |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Impairment of long-term investments |  |  |  |  |  |  |  |  |  |  |  |
CBT Segment |  |  | - |  |  |  | 45,400 |  |  |  | - |
|  | $ | - |  |  | $ | 45,400 |  |  | $ | - |
Total assets by segment as at December 31, 2019 and 2018 are as follows:
|  | 2019 |  |  | 2018 |
Total assets |  |  |  |  |  |  |  |
TIT Segment |  | $ | 725,088 |  |  | $ | 1,056,582 |
CBT Segment |  |  | 39,755,020 |  |  |  | 40,529,876 |
Corporate and others |  |  | 135,438 |  |  |  | 29,356 |
|  | $ | 40,615,546 |  |  | $ | 41,615,814 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration