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Consolidated Segment Data (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting

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