XML 25 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
REVENUES:      
Application development services $ 21,985,214 $ 15,720,676 $ 20,037,861
Consulting and technical support services 3,797,354 3,307,662 2,390,948
Subscription services 881,443 1,066,720 723,458
Total revenues 26,664,011 20,095,058 23,152,267
COST OF REVENUES      
Cost of application development services 15,320,446 12,553,556 14,140,094
Cost of consulting and technical support services 1,803,239 1,339,133 1,093,631
Cost of subscription services 147,631 137,658 84,936
Total cost of revenues 17,271,316 14,030,347 15,318,661
GROSS PROFIT 9,392,695 6,064,711 7,833,606
OPERATING EXPENSES      
Sales and marketing 2,675,028 3,562,425 2,144,588
General and administrative 5,559,426 5,945,576 2,316,058
Provision for doubtful accounts 191,148 3,293,600 368,125
Research and development 2,780,944 2,163,658 1,992,228
Share based compensation 1,473,976 2,351,890  
Total operating expenses 12,680,522 17,317,149 6,820,999
OPERATING (LOSS) INCOME (3,287,827) (11,252,438) 1,012,607
OTHER INCOME (EXPENSE)      
Other income 106,026 252,109 584,209
Change in fair value of convertible debt (15,258,333)    
Total other expense (15,152,307) 252,109 584,209
(LOSS) INCOME BEFORE INCOME TAXES (18,440,134) (11,000,329) 1,596,816
INCOME TAX (BENEFITS) EXPENSES (80,532) (213,347) 43,190
NET (LOSS) INCOME (18,359,602) (10,786,982) 1,553,626
Less: (loss) income attributable to non-controlling interests (105,945) (145) 7,336
NET (LOSS) INCOME ATTRIBUTABLE TO POWERBRIDGE (18,253,657) (10,786,837) 1,546,290
OTHER COMPREHENSIVE (LOSS) INCOME      
Foreign currency translation adjustment 809,672 (101,857) (339,238)
COMPREHENSIVE (LOSS) INCOME (17,549,930) (10,888,839) 1,214,388
Less: comprehensive (loss) income attributable to non-controlling interest (112,103) (144) 6,928
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO POWERBRIDGE $ (17,437,827) $ (10,888,695) $ 1,207,460
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES *      
Basic and diluted (in Shares) [1] 16,150,065 8,388,481 6,905,248
(LOSS) EARNINGS PER SHARE      
Basic and diluted (in Dollars per share) $ (1.13) $ (1.29) $ 0.22
[1] Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance and share split on August 18, 2018 and February 10, 2019.