Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 14 – 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 management 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 revenue is earned in South America which are the three geographic regions of the Company. We have included the lease income in payment processing as the leases are related to unattended ticketing 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. Long-lived assets for North America, South America and Africa amounted to approximately $8.0 million, $0.1 million and $0.2 million   consisting of property and equipment – net, intangible assets – net and goodwill.

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.

	(Unaudited)
	Three Months Ended						Six Months Ended
	June 30,			June 30,			June 30,			June 30,
	2021			2020			2021			2020
Net Revenues:
North America	$	153,687		$	135,698		$	301,747		$	269,252
South America		89,415			72,133			185,598			185,757
Africa		334,679			113,288			679,435			659,899
		577,781			321,119			1,166,780			1,114,908
Identity Management		488,366			248,986			981,182			929,151
Payment Processing		89,415			72,133			185,598			185,757
		577,781			321,119			1,166,780			1,114,908
Loss From Operations
North America		(2,017,716	)		(669,183	)		(3,288,119	)		(1,076,575	)
South America		(1,053,365	)		(1,803,784	)		(1,785,053	)		(3,015,936	)
Africa		(219,506	)		(333,654	)		(404,325	)		(1,386,718	)
		(3,290,587	)		(2,806,621	)		(5,477,497	)		(5,479,229	)
Identity Management		(2,237,222	)		(1,002,837	)		(3,692,444	)		(2,463,293	)
Payment Processing		(1,053,365	)		(1,803,784	)		(1,785,053	)		(3,015,936	)
		(3,290,587	)		(2,806,621	)		(5,477,497	)		(5,479,229	)
Interest Expense		(256,550	)		(310,153	)		(553,988	)		(489,203	)
Other income/(expense)		491,881			(342,082	)		493,418			(1,317,971	)
Loss before income taxes		(3,055,256	)		(3,458,856	)		(5,538,067	)		(7,286,403	)
Income tax expense		(2,354	)		(3,592	)		(9,542	)		(12,466	)
Net loss	$	(3,057,610	)	$	(3,462,448	)	$	(5,547,609	)	$	(7,298,869	)