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Consolidated Segment Data (Tables)
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting

Selected information by segment is presented in the following tables for the year ended December 31, 2020, 2019, and 2018.

 

    2020     2019     2018  
Revenues(1)                        
TIT Segment   $ 377,499     $ 241,132     $ 383,420  
CBT Segment     10,685,276       13,550,171       20,194,920  
    $ 11,062,775     $ 13,791,303     $ 20,578,340  

 

(1) Revenues by operating segments exclude intercompany transactions.

 

    2020     2019     2018  
(Loss) income from operations                        
TIT Segment   $ (166,727 )   $ (662,556 )   $ (528,891 )
CBT Segment     (15,268,750 )     (2,037,151 )     2,391,930  
Corporate and others(2)     (1,931,252 )     (1,472,454 )     (1,694,215 )
(Loss) income from operations     (17,366,729 )     (4,172,161 )     168,824  
Corporate other (loss) income, net     (22,580 )     669,755       956,753  
Corporate interest income     4,798       133,517       36,381  
Corporate interest expense     (1,018,013 )     (499,852 )     (484,403 )
(Loss) income before income taxes     (18,402,524 )     (3,868,741 )     677,555  
                         
Income tax benefit     71,316       274,480       1,201,231  
Net (loss) income     (18,331,208 )     (3,594,261 )     1,878,786  
                         
Less: Loss (income) attributable to the non-controlling interest     636,433       11,929       (186,803 )
Net (loss) income attributable to the Company   $ (17,694,775 )   $ (3,582,332 )   $ 1,691,983  

 

(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, 2020, 2019, and 2018 are as follows:

 

    2020     2019     2018  
Non-cash employee compensation:                        
Corporate and others     298,091       494,316       584,629  
    $ 298,091     $ 494,316     $ 584,629  

 

Depreciation and amortization by segment for the year ended December 31, 2020, 2019, and 2018 are as follows:

 

    2020     2019     2018  
Depreciation and amortization:                        
TIT Segment   $ 19,783     $ 17,278     $ 13,941  
CBT Segment     3,459,861       2,883,674       3,660,596  
    $ 3,479,644     $ 2,900,952     $ 3,674,537  

 

    2020     2019     2018  
Provisions for allowance for credit losses on accounts receivable, other receivable and advances to suppliers：                        
TIT Segment   $ 36,895     $ 344,550     $ (438,378 )
CBT Segment     13,484,287       3,283,994       1,268,644  
    $ 13,521,182     $ 3,628,544     $ 830,266  

 

    2020     2019     2018  
Inventory obsolescence provision:                        
TIT Segment   $ 10,943     $ 2,366     $ 9,261  
CBT Segment     (5,318 )     112,824       21,142  
    $ 5,625     $ 115,190     $ 30,403  

 

    2020     2019     2018  
Impairment of long-term investments                        
CBT Segment      -           -       45,400  
    $ -     $ -     $ 45,400  

 

Total assets by segment as at December 31, 2020 and 2019 are as follows:

 

    2020     2019  
Total assets                
TIT Segment   $ 213,329     $ 725,088  
CBT Segment     30,488,753       39,755,020  
Corporate and others     74,569       135,438  
    $ 30,776,651     $ 40,615,546