Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

SEGMENT REPORTING (Tables)

v3.25.1
SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2024
Notes and other explanatory information [abstract]  
SUMMARY OF DETAILED SEGMENT INFORMATION

The detailed segment information of the Company is as follows:

 

    Education     Campus     Total     Education     Campus     Total     Education     Campus     Total  
    For the Years ended December 31  
    2024     2023     2022  
    Education     Campus     Total     Education     Campus     Total     Education     Campus     Total  
Revenues   $ 7,912,718     $ —     $ 7,912,718     $ 18,611,370     $ 4,451,384     $ 23,062,754       13,555,495     $ 4,638,121     $ 18,193,616  
Depreciation and amortization(1)(2)   $ 2,058,527     $ —     $ 2,058,527     $ 2,938,552     $ 332,498     $ 3,271,051       1,245,215     $ 1,105,425     $ 2,350,640  
Loss from operations   $ (30,108,322 )   $ —     $ (30,108,322 )   $ (36,217,860 )   $ 150,525     $ (36,067,335 )     (32,591,762 )   $ (9,746,037 )   $ (42,337,799 )
Net Profit/(Loss)   $ (24,939,822 )   $ —     $ (24,939,822 )   $ (5,899,772 )   $ 188,550     $ (5,711,222 )     (46,113,518 )   $ (9,892,921 )   $ (56,006,439 )
Interest Expense, net   $ 1,146,440     $ —     $ 1,146,440     $ 3,578,911     $ 115,602     $ 3,694,513 )     (943,916 )   $ (368,560 )   $ (1,312,476 )
Capital Expenditures   $ —     $ —     $ —     $ —     $ —     $ —       —     $ —     $ —  
Property and equipment, net   $ 301,531     $ —     $ 301,531     $ 456,751     $ —     $ 456,751       563,131     $ —     $ 563,131  
Total Assets   $ 101,055,351     $ —     $ 101,055,351     $ 43,213,773     $ —     $ 43,213,773       88,120,390     $ 3,139,237     $ 91,259,627  
Total Liabilities   $ 21,644,921     $ —     $ 21,644,921     $ 23,498,780     $ —     $ 23,498,780       71,656,141     $ 5,648,650     $ 77,304,791  

 

(1) Consists of $589,415 (2023: $575,309) of Education segment depreciation and amortization which is included in cost of revenue and $1,469,112 (2023: $2,363,243) which is included in operating expenses in the accompanying statements of operations
   
(2) Consists of $0 (2023: $0) of Campus segment depreciation and amortization which is included in cost of revenue and $0 (2023: $332,498) which is included in operating expenses in the accompanying statements of operations
SUMMARY OF REVENUE AND NON-CURRENT ASSETS BY GEOGRAPHIC LOCATION

A summary of non-current assets (other than financial instruments) by geographic location appears below:

 

    Education     Campus     Total     Education     Campus     Total  
    For the Years Ended December 31,  
    2024     2023  
    Education     Campus     Total     Education     Campus     Total  
Europe / Middle East / Africa   $ 13,871,549       —     $ 13,871,549     $ 20,318,361       —     $ 20,318,361  
Asia / Pacific     39,977,597       —       39,977,597       3,971,427       —       3,971,427  
North America / South America     4,787,378       —       4,787,378       9,290,120       —       9,290,120  
Non-current assets   $ 58,636,524     $ —     $ 58,636,524     $ 33,579,908     $ —     $ 33,579,908  

 

A summary of revenue by geographic location appears below:

 

    Education     Campus     Total     Education     Campus     Total  
    For the Years Ended December 31,  
    2024     2023  
    Education     Campus     Total     Education     Campus     Total  
Europe / Middle East / Africa   $ 3,578,181     $ —     $ 3,578,181     $ 4,134,861     $ 2,524,821     $ 6,659,682  
Asia / Pacific     2,215,686       —       2,215,686       3,374,298       1,926,563       5,300,861  
North America / South America     2,118,851       —       2,118,851       11,102,211       —       11,102,211  
Revenue   $ 7,912,718     $ —     $ 7,912,718     $ 18,611,370     $ 4,451,384     $ 23,062,754