Note 16

SEGMENT RESULTS

ASC 280-10-50 requires use of the “management approach” model for segment reporting. The management approach is based on the way a company’s management organized segments within the company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company.

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-making group is composed of the chief executive officer and the chief financial officer. The Company operates in three segments, Information & Software, Services, and Other.

Asset information by operating segment is not presented below since the chief operating decision maker does not review this information by segment. The reporting segments follow the same accounting policies used in the preparation of the Company’s unaudited condensed consolidated financial statements.

The following represents selected information for the Company’s reportable segments:

	Three months ended March 31, 2021
	2021			2020
Information and Software
Revenue	$	1,408,978		$	66,667
Costs and expenses		3,637,602			571,553
Loss from operations		(2,228,624	)		(504,886	)
Total other income/(expense)		—			—
Net loss before income taxes		(2,228,624	)		(504,886	)

Services
Revenue	$	96,311		$	—
Costs and expenses		80,290			—
Loss from operations		16,021			—
Total other income/(expense)		—			—
Net loss before income taxes		16,021			—

Other
Revenue	$	115,320		$	—
Costs and expenses		79,887			—
Loss from operations		35,433			—
Total other income/(expense)		(88	)		—
Net income before income taxes		35,345			—

Centrally Managed Costs
Revenue
Costs and expenses	$	2,939,345		$	175,213
Loss from operations		(2,939,345	)		(175,213	)
Total other income/(expense)		624,956			4,963
Net loss before income taxes		(2,314,389	)		(170,250	)

Totals
Revenue	$	1,620,609		$	66,667
Costs and expenses		6,737,124			746,766
Loss from operations		(5,116,515	)		(680,099	)
Total other income/(expense)		624,868			4,963
Net loss	$	(4,491,647	)	$	(675,136	)

Approximately 98% of revenues were attributable to customers in the United States for the three months ended March 31, 2021. All of the Company’s revenues were attributable to customers in the United States for the three months ended March 31, 2020.