Segment Information

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 13 – SEGMENT INFORMATION

During the three and nine months ended September 30, 2019 and 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 three and nine months ended September 30, 2019 and 2018, the Company's dyeing and finishing equipment 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 and nine months ended September 30, 2019 and 2018 was as follows:

	For the Three Months ended September 30,						For the Nine Months ended September 30,
	2019			2018			2019			2018
Revenues:
Dyeing and finishing equipment	$	1,676,831		$	2,444,437		$	5,216,740		$	7,499,362
Sharing economy		533			72,764			27,325			155,959
		1,677,364			2,517,201			5,244,065			7,655,321
Depreciation:
Dyeing and finishing equipment		696,819			974,745			2,081,089			3,067,647
Sharing economy		12,301			4,458			16,727			13,210
		709,120			979,203			2,097,816			3,080,857
Interest expense
Dyeing and finishing equipment		35,605			26,892			116,597			88,372
Sharing economy		137,668			92,002			228,483			153,336
Other		3			-			3			-
		173,273			118,894			345,080			241,708
Net loss
Dyeing and finishing equipment		(311,457	)		(13,293,023	)		(23,833,748	)		(17,364,755	)
Sharing economy		(261,178	)		(4,319,404	)		(1,374,469	)		(8,049,373	)
Discontinued segments		-			(385	)		-			16,486
Other		(540,240	)		(960,907	)		(3,201,564	)		(4,065,420	)
	$	(1,112,875	)	$	(18,573,719	)	$	(28,409,781	)	$	(29,463,062	)