Segment Information

12 Months Ended

Dec. 31, 2021

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 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 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 as well as the investment the Company has made in Acquired and Developed Software. Assets for North America, South America and Africa amounted to approximately $7.4 million (goodwill $4.2 million), $0.1 million and $0.2 million, respectively. North America is the only geographic region with a goodwill balance).

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.

	Year Ended December 31,
	2021			2020
Net Revenues:
North America	$	613,516		$	612,271
South America		360,751			349,374
Africa		1,318,029			1,178,999
		2,292,296			2,140,644
Identity Management		1,931,545			1,791,270
Payment Processing		360,751			349,374
		2,292,296			2,140,644
Loss from Operations
North America		(14,808,426	)		(5,498,577	)
South America		(2,086,507	)		(1,702,141	)
Africa		(1,161,123	)		(1,809,047	)
		(18,056,056	)		(9,009,765	)
Identity Management		(16,894,933	)		(7,307,624	)
Payment Processing		(1,161,123	)		(1,702,141	)
		(18,056,056	)		(9,009,765	)
Interest Expense		(585,636	)		(969,396	)
Other income/(expense)		996,928			(1,283,074	)
Loss before income taxes		(17,644,764	)		(11,262,235	)
Income tax expense		(21,024	)		(36,323	)
Net loss	$	(17,665,788	)	$	(11,298,558	)