| SUMMARY OF DETAILED SEGMENT INFORMATION |
The
detailed segment information of the Company is as follows:
SUMMARY OF DETAILED SEGMENT INFORMATION
| |
|
Education |
|
|
Campus |
|
|
Total |
|
|
Education |
|
|
Campus |
|
|
Total |
|
| |
|
For
the Years Ended December 31 |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
Education |
|
|
Campus |
|
|
Total |
|
|
Education |
|
|
Campus |
|
|
Total |
|
| Revenues |
|
$ |
13,555,495 |
|
|
$ |
4,638,121 |
|
|
$ |
18,193,616 |
|
|
$ |
5,192,594 |
|
|
$ |
3,102,210 |
|
|
$ |
8,294,804 |
|
|
Depreciation
and amortization(1)(2)
|
|
$ |
1,245,215 |
|
|
$ |
1,105,425 |
|
|
$ |
2,350,640 |
|
|
$ |
426,740 |
|
|
$ |
1,148,173 |
|
|
$ |
1,574,913 |
|
| Depreciation
and amortization(1)(2) |
|
$ |
1,245,215 |
|
|
$ |
1,105,425 |
|
|
$ |
2,350,640 |
|
|
$ |
426,740 |
|
|
$ |
1,148,173 |
|
|
$ |
1,574,913 |
|
| Loss
from operations |
|
$ |
(31,836,870 |
) |
|
$ |
(9,746,037 |
) |
|
$ |
(41,582,907 |
) |
|
$ |
(2,153,975 |
) |
|
$ |
(2,014,509 |
) |
|
$ |
(4,168,484 |
) |
| Net
Loss |
|
$ |
(45,358,626 |
) |
|
$ |
(9,892,921 |
) |
|
$ |
(55,251,547 |
) |
|
$ |
(2,252,795 |
) |
|
$ |
(2,365,255 |
) |
|
$ |
(4,618,050 |
) |
| Interest
Expense, net |
|
$ |
(943,916 |
) |
|
$ |
(368,560 |
) |
|
$ |
(1,312,476 |
) |
|
$ |
(98,819 |
) |
|
$ |
(350,747 |
) |
|
$ |
(449,566 |
) |
| Capital
Expenditures |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Property
and equipment, net |
|
$ |
563,131 |
|
|
$ |
— |
|
|
$ |
563,131 |
|
|
$ |
15,442 |
|
|
$ |
6,760,674 |
|
|
$ |
6,776,116 |
|
| Total
Assets |
|
$ |
88,120,390 |
|
|
$ |
3,139,237 |
|
|
$ |
91,259,627 |
|
|
$ |
5,122,967 |
|
|
$ |
12,472,440 |
|
|
$ |
17,595,407 |
|
| Total
Liabilities |
|
$ |
71,656,141 |
|
|
$ |
5,648,650 |
|
|
$ |
77,304,791 |
|
|
$ |
3,589,315 |
|
|
$ |
6,020,096 |
|
|
$ |
9,609,411 |
|
| (1) |
Consists
of $577,998 (2021-$426,740) of Education segment depreciation and amortization which is included
in cost of revenue and $667,217 (2021-$0) which is included in operating expenses in the
accompanying statements of operations |
| |
|
| (2) |
Consists of $590,228 (2021-$1,109,309) of Campus segment depreciation and amortization which is included in cost of revenue and $515,197 (2021-$38,864) 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:
SUMMARY OF REVENUE AND NON-CURRENT ASSETS BY GEOGRAPHIC LOCATION
| |
|
Education |
|
|
Campus |
|
|
Total |
|
|
Education |
|
|
Campus |
|
|
Total |
|
| |
|
For
the Years Ended December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
Education |
|
|
Campus |
|
|
Total |
|
|
Education |
|
|
Campus |
|
|
Total |
|
| Europe
/ Middle East / Africa |
|
$ |
12,792,087 |
|
|
$ |
3,473,507 |
|
|
$ |
16,265,594 |
|
|
$ |
602 |
|
|
$ |
8,476,791 |
|
|
$ |
8,477,393 |
|
| Asia
/ Pacific |
|
|
24,799,301 |
|
|
|
4,112,755 |
|
|
|
28,912,056 |
|
|
|
— |
|
|
|
2,120,102 |
|
|
|
2,120,102 |
|
| North
America / South America |
|
|
21,831,530 |
|
|
|
— |
|
|
|
21,831,530 |
|
|
|
501,750 |
|
|
|
— |
|
|
|
501,750 |
|
| Non-current assets |
|
$ |
59,422,918 |
|
|
$ |
7,586,262 |
|
|
$ |
67,009,180 |
|
|
$ |
502,352 |
|
|
$ |
10,596,893 |
|
|
$ |
11,099,245 |
|
A
summary of revenue by geographic location appears below:
| |
|
Education |
|
|
Campus |
|
|
Total |
|
|
Education |
|
|
Campus |
|
|
Total |
|
| |
|
For
the Years Ended December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
Education |
|
|
Campus |
|
|
Total |
|
|
Education |
|
|
Campus |
|
|
Total |
|
| Europe
/ Middle East / Africa |
|
$ |
3,857,193 |
|
|
$ |
2,403,570 |
|
|
$ |
6,260,763 |
|
|
$ |
1,948,567 |
|
|
$ |
1,554,828 |
|
|
$ |
3,503,395 |
|
| Asia
/ Pacific |
|
|
2,073,866 |
|
|
|
2,234,551 |
|
|
|
4,308,417 |
|
|
|
1,795,863 |
|
|
|
1,547,382 |
|
|
|
3,343,245 |
|
| North
America / South America |
|
|
7,624,436 |
|
|
|
- |
|
|
|
7,624,436 |
|
|
|
1,448,164 |
|
|
|
— |
|
|
|
1,448,164 |
|
| Revenue |
|
$ |
13,555,495 |
|
|
$ |
4,638,121 |
|
|
$ |
18,193,616 |
|
|
$ |
5,192,594 |
|
|
$ |
3,102,210 |
|
|
$ |
8,294,804 |
|
|