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SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following is information about reported segment revenues, income (losses) from operations, and total assets as of March 31, 2019 and 2018:
 
Training and
Simulation
Division
 
Power Systems
Division
 
Corporate
Expenses
 
Total
Company
Three months ended March 31, 2019
 
 
 
 
 
 
 
Revenues from outside customers
$
13,989,615

 
$
6,789,024

 
$
—

 
$
20,778,639

Depreciation and amortization(1)
(187,830
)
 
(675,490
)
 
—

 
(863,320
)
Direct expenses(2)
(11,695,059
)
 
(8,261,927
)
 
(906,020
)
 
(20,863,006
)
Segment operating income (loss)
$
2,106,726

 
$
(2,148,393
)
 
$
(906,020
)
 
$
(947,687
)
Financial expense
(43,007
)
 
(64,915
)
 
(190,523
)
 
(298,445
)
Income tax expense
(50,000
)
 
—

 
(110,881
)
 
(160,881
)
Net income (loss)
$
2,013,719

 
$
(2,213,308
)
 
$
(1,207,424
)
 
$
(1,407,013
)
Segment assets(3)(4)
57,291,042

 
64,085,613

 
3,623,664

 
125,000,319

Additions to long-lived assets
532,251

 
403,337

 
319,995

 
1,255,583

Three months ended March 31, 2018
 
 
 
 
 
 
 
Revenues from outside customers
$
14,557,864

 
$
12,690,645

 
$
—

 
$
27,248,509

Depreciation, amortization and impairment expenses(1)
(200,360
)
 
(796,042
)
 
—

 
(996,402
)
Direct expenses(2)
(11,872,231
)
 
(12,273,712
)
 
(1,050,353
)
 
(25,196,296
)
Segment operating income (loss)
$
2,485,273

 
$
(379,109
)
 
$
(1,050,353
)
 
$
1,055,811

Financial expense
(44,619
)
 
15,465

 
(183,954
)
 
(213,108
)
Income tax expense
(19,801
)
 
—

 
(227,313
)
 
(247,114
)
Net income (loss)
$
2,420,853

 
$
(363,644
)
 
$
(1,461,620
)
 
$
595,589

Segment assets(3)
51,690,905


60,995,921


3,119,613


115,806,439

Additions to long-lived assets
121,588


209,232


—


330,820

(1)
Includes depreciation of property and equipment and amortization expenses of intangible assets.
(2)
Including, inter alia, sales and marketing, general and administrative.
(3)
Out of those amounts, goodwill in the Company’s Training and Simulation Division and Power Systems Division totaled $24,435,641 and $21,702,395, respectively, as of March 31, 2019 and 2018.
(4)
Out of those amounts, right-of-use assets for the Company’s Training and Simulation Division and Power Systems Division totaled $519,496 and $5,516,164, respectively, as of March 31, 2019.