Segments

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segments

4. SEGMENTS

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision-maker is the CEO. The Company operates in and reports four business segments: property development, digital transformation technology, biohealth, and other business activities. The Company’s reportable segments are determined based on the services they perform and the products they sell, not on the geographic area in which they operate. The Company’s chief operating decision maker evaluates segment performance based on segment revenue. Costs excluded from segment income (loss) before taxes and reported as “Other” consist of corporate general and administrative activities which are not allocable to the four reportable segments.

The following table summarizes the Company’s segment information for the following balance sheet dates presented, and for the three months ended March 31, 2021 and 2020:

	Property Development			Digital Transformation Technology			Biohealth Business			Other			Total
Three Months Ended March 31, 2021
Revenue	$	3,894,131		$	-		$	1,712,783		$	-		$	5,606,914
Cost of Sales		(3,614,832	)		-			(83,022	)		-			(3,697,854	)
Gross Margin		279,299			-			1,629,761			-			1,909,060
Operating Expenses		(359,489	)		(30,128	)		(846,480	)		(1,076,408	)		(2,312,505	)
Operating Income (Loss)		(80,190	)		(30,128	)		783,281			(1,076,408	)		(403,445	)
Other Income (Expense)		(9,873	)		(36,471	)		(8,371,117	)		(532,505	)		(8,949,966	)
Net Income (Loss) Before Income Tax		(90,063	)		(66,599	)		(7,587,836	)		(1,608,913	)		(9,353,411	)

	Property Development			Digital Transformation Technology			Biohealth Business			Other			Total
Three Months ended March 31, 2020
Revenue	$	2,954,389		$	-		$	10,782		$	-		$	2,965,171
Cost of Sales		(2,380,820	)		-			(2,883	)		-			(2,383,703	)
Gross Margin		573,569			-			7,899			-			581,468
Operating Expenses		(277,056	)		(18,228	)		(132,791	)		(575,784	)		(1,003,859	)
Operating Income (Loss)		296,513			(18,228	)		(124,892	)		(575,784	)		(422,391	)
Other Income (Expense)		7,539			(92,477	)		193			2,762,701			2,677,956
Net Income (Loss) Before Income Tax		304,052			(110,705	)		(124,699	)		2,186,917			2,255,565
March 31, 2021
Cash and Restricted Cash	$	9,842,218		$	154,738		$	3,251,622		$	15,756,505		$	29,005,083
Total Assets		30,877,470			154,840			43,241,793			34,523,886			108,797,989
December 31, 2020
Cash and Restricted Cash	$	8,150,769		$	158,058		$	1,590,265		$	21,336,364		$	31,235,456
Total Assets		28,954,484			158,160			524,603			77,574,674			107,211,921