SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 11– 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. Assets for North America, South America and Africa amounted to approximately $7.5 million, $.8 million and $2.1 million respectively of which $4.9 million, $.1 million and $1.71 million related to goodwill as of September 30, 2018.

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, 2018			September 30, 2017			September 30, 2018			September 30, 2017
Net Revenues:
North America	$	217,184		$	130,047		$	1,717,881		$	380,280
South America		100,257			90,888			295,743			334,432
Africa		384,368			386,711			1,053,301			1,037,075
		701,809			607,646			3,066,925			1,751,787
Identity Management		601,552			516,758			2,771,182			1,417,355
Payment Processing		100,257			90,888			295,743			334,432
		701,809			607,646			3,066,925			1,751,787
Loss From Operations
North America		(566,507	)		(658,419	)		(1,180,436	)		(2,428,744	)
South America		(1,365,614	)		(1,130,917	)		(4,973,078	)		(5,990,828	)
Africa		6,787			(88,798	)		(575,645	)		(922,630	)
		(1,925,334	)		(1,878,134	)		(6,729,159	)		(9,342,202	)
Identity Management		(559,720	)		(747,217	)		(1,756,081	)		(3,351,374	)
Payment Processing		(1,365,614	)		(1,130,917	)		(4,973,078	)		(5,990,828	)
		(1,925,334	)		(1,878,134	)		(6,729,159	)		(9,342,202	)
Interest Expense		(218,075	)		(230,698	)		(703,542	)		(1,125,880	)
Other income/(expense)		1,198			—			78,932			(4,106,652	)
Loss before income taxes		(2,142,211	)		(2,108,832	)		(7,353,769	)		(14,574,734	)
Income tax expense		(2,887	)		(1,187	)		(17,304	)		(6,957	)
Net loss	$	(2,145,098	)	$	(2,110,019	)	$	(7,371,073	)	$	(14,581,691	)