Segment Information

3 Months Ended

Mar. 31, 2018

NOTE 15 – SEGMENT INFORMATION

During the three months ended March 31, 2017, the Company operated in one reportable business segments, the manufacture of textile dyeing and finishing equipment segment. During the three months ended March 31, 2018, the Company operated in two reportable business segments - (1) the manufacture of textile dyeing and finishing equipment segment, and (2) the Sharing Economy Segment which targets the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. The Company’s reportable segments were strategic business units that offered different products. They were managed separately based on the fundamental differences in their operations and locations. During the 2017 period, all of the Company’s operations were conducted in the PRC. The Sharing Economy Segment is based in Hong Kong.

Information with respect to these reportable business segments for the three months ended March 31, 2018 and 2017 was as follows:

	For the Three Months ended March 31,
	2018			2017
Revenues:
Dyeing and finishing equipment	$	2,537,506		$	4,657,454
Sharing economy		31,021			-
		2,568,527			4,657,454
Depreciation:
Dyeing and finishing equipment		1,047,413			968,190
Sharing economy		4,327			-
		1,051,740			968,190
Interest expense
Dyeing and finishing equipment		30,452			39,690
Sharing economy		-			-
		30,452			39,690
Net loss
Dyeing and finishing equipment		(2,570,941	)		(146,484	)
Sharing economy		(1,119,403	)		-
Discontinued segments		16,899			-
Other (a)		(1,193,217	)		-
	$	(4,866,662	)	$	(146,484	)

	March 31, 2018		December 31, 2017
Identifiable long-lived tangible assets at March 31, 2018 and December 31, 2017 by segment
Dyeing and finishing equipment	$	27,774,597	$	27,805,180
Sharing economy		70,039		65,144
Other (b)		5,496,707		5,310,795
	$	33,341,343	$	33,181,119

	March 31, 2018		December 31, 2017
Identifiable long-lived tangible assets at March 31, 2018 and December 31, 2017 by geographical location
China	$	33,271,304	$	33,115,975
Hong Kong		70,039		65,144
United States		-		-
	$	33,341,343	$	33,181,119

(a)	The Company does not allocate any general and administrative expense of its U.S. activities to its reportable segments, because these activities are managed at a corporate level.

(b)	Represents amount of net tangible assets not in use and to be used by for new segment being developed.