SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 13 – SEGMENT INFORMATION

General information

The segment and geographic information provided in the table below is being reported consistent with the Company’s method of internal reporting. Operating segments are defined as components of an enterprise for which separate financial information is available and which is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The CODM regularly reviews net revenue and gross profit by geographic regions. The Company’s products and services operate in two reportable segments; identity solutions and payment processing.

Information about revenue, profit/loss and assets

The CODM evaluates performance and allocates resources based on net revenue and operating results of the geographic region as the current operations of each geography are either primarily identity management or payment processing. Identity management revenue is generated in North America and Africa and payment processing is earned in South America which are the three geographic regions of the Company. We have included the lease income in payment processing are the leases are related to unattended ticking kiosks.

Long lived assets are in North America, South America and Africa. Most assets are intangible assets recorded from the acquisition of MultiPay (South America) in 2015 and FIN Holdings (North America and Africa) in 2016. Assets for North America, South America and Africa amounted to approximately $7.8 million, $0.8 million and $2.1 million, respectively, of which $4.9 million, $0.1 million and $1.7 million related to goodwill as of September 30, 2019.

Analysis of revenue by segment and geographic region and reconciliation to consolidated revenue, gross profit, and net loss are provided below. The Company has included in the schedule below an allocation of corporate overhead based on management’s estimate of resource requirements.

	Three Months Ended						Nine Months Ended
	September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Net Revenues:
North America	$	135,963		$	217,184		$	509,587		$	1,717,881
South America		106,873			100,257			352,814			295,473
Africa		309,925			384,368			1,075,699			1,053,301
		552,761			701,809			1,938,100			3,066,655
Identity Management		445,888			601,552			1,585,286			2,771,182
Payment Processing		106,873			100,257			352,814			295,473
		552,761			701,809			1,938,100			3.066,655
Loss From Operations
North America		(786,901	)		(566,507	)		(2,206,553	)		(1,180,436	)
South America		(1,235,152	)		(1,365,614	)		(3,712,973	)		(4,973,078	)
Africa		(225,695	)		6,787			(581,134	)		(575,645	)
		(2,247,748	)		(1,925,334	)		(6,500,660	)		(6,729,159	)
Identity Management		(1,012,596	)		(559,720	)		(2,787,687	)		(1,756,081	)
Payment Processing		(1,235,152	)		(1,365,614	)		(3,712,973	)		(4,973,078	)
		(2,247,748	)		(1,925,334	)		(6,500,660	)		(6,729,159	)
Interest Expense		(110,654	)		(218,075	)		(290,804	)		(703,542	)
Other income/(expense)		11,068			1,198			23,565			78,932
Loss before income taxes		(2,347,334	)		(2,142,211	)		(6,767,899	)		(7,353,769	)
Income tax expense		(10,902	)		(2,887	)		(28,867	)		(17,304	)
Net loss	$	(2,358,236	)	$	(2,145,098	)	$	(6,796,766	)	$	(7,371,073	)