Registration statement for securities of certain foreign private issuers

SEGMENT REPORTING (Tables)

v3.23.3
SEGMENT REPORTING (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
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  
    For the Six months Ended June 30  
    2023     2022  
    Education     Campus     Total     Education     Campus     Total  
Revenues   $ 8,961,780     $ 2,833,934     $ 11,795,714     $ 3,452,519     $ 1,890,728     $ 5,343,247  
Depreciation and amortization   $ 1,178,764     $ 30,008     $ 1,208,772     $ 252,530     $ 583,227     $ 835,757  
Income/Loss from operations   $ (9,417,704 )   $ 254,613     $ (9,163,091 )   $ (2,082,656 )   $ (889,852 )   $ (2,972,508 )
Net Income/Loss   $ (11,013,619 )   $ 238,917     $ (10,774,702 )   $ (2,075,692 )   $ (1,421,535 )   $ (3,497,227 )
Interest Expense, net   $ (1,944,787 )   $ (54,574 )   $ (1,999,361 )   $ (27,534 )   $ (71,764 )   $ (99,298 )

 

    Education     Campus     Total     Education     Campus     Total  
    For the period ended June 30, 2023     For the Year ended December 31, 2022  
    Education     Campus     Total     Education     Campus     Total  
Capital Expenditures   $ —     $ —     $ —     $ —     $ —     $ —  
Property and equipment, net   $ 203,934     $ —     $ 203,934     $ 563,131     $ —     $ 563,131  
Total Assets   $ 72,616,102     $ 2,785,765     $ 75,401,867     $ 88,120,390     $ 3,139,237     $ 91,259,627  
Total Liabilities   $ 64,050,409     $ 5,211,673     $ 69,262,082     $ 71,656,141     $ 5,648,650     $ 77,304,791  

The detailed segment information of the Company is as follows:

 

    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  
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

 

 

    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  

 

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,

  
    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