Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

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SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2023
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 (1)     Campus     Total     Education     Campus     Total  
   

For the Years ended December 31

  
    2023     2022     2021  
    As Restated (1)  
    Education     Campus     Total     Education     Campus     Total     Education     Campus     Total  
Revenues   $ 18,611,370     $ 4,451,384     $ 23,062,754     $ 13,555,495     $ 4,638,121     $ 18,193,616       5,192,594       3,102,210       8,294,804  
Depreciation and amortization(1)(2)   $ 2,938,552     $ 332,498     $ 3,271,051     $ 1,245,215     $ 1,105,425     $ 2,350,640       426,740       1,148,173       1,574,913  
Loss from operations   $ (36,217,860 )   $ 150,525     $ (36,067,335 )   $ (32,591,762 )   $ (9,746,037 )   $ (42,337,799 )     (2,153,975 )     (2,014,509 )     (4,168,484 )
Net Profit/(Loss)   $ (5,899,772 )   $ 188,550     $ (5,711,222 )   $ (46,113,518 )   $ (9,892,921 )   $ (56,006,439 )     (2,252,795 )     (2,365,255 )     (4,618,050 )
Interest Expense, net   $ 3,578,911     $ 115,602     $ 3,694,513     $ (943,916 )   $ (368,560 )   $ (1,312,476 )     (98,819 )     (350,747 )     (449,566 )
Capital Expenditures   $ —     $ —     $ —     $ —     $ —     $ —       -       -       -  
Property and equipment, net   $ 456,751     $ —     $ 456,751     $ 563,131     $ —     $ 563,131       15,442       6,760,674       6,776,116  
Total Assets   $ 43,213,773     $ —     $ 43,213,773     $ 88,120,390     $ 3,139,237     $ 91,259,627       5,122,967       12,472,440       17,595,407  
Total Liabilities   $ 23,498,780     $ —     $ 23,498,780     $ 71,656,141     $ 5,648,650     $ 77,304,791       3,589,315       6,020,096       9,609,411  

 

(1) Consists of $575,309 (2022-$577,998) of Education segment depreciation and amortization which is included in cost of revenue and $2,363,243 (2022-$667,217) which is included in operating expenses in the accompanying statements of operations
   
(2) Consists of $0 (2022-$590,228) of Campus segment depreciation and amortization which is included in cost of revenue and $332,498 (2022-$515,197) 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,  
    2023     2022  
    Education     Campus     Total     Education     Campus     Total  
Europe / Middle East / Africa   $ 20,318,361       —     $ 20,318,361     $ 12,792,087     $ 3,473,507     $ 16,265,594  
Asia / Pacific     3,971,427       —       3,971,427       24,799,301       4,112,755       28,912,056  
North America / South America     9,290,120       —       9,290,120       21,831,530       —       21,831,530  
Non-current assets   $ 33,579,908     $ —     $ 33,579,908     $ 59,422,918     $ 7,586,262     $ 67,009,180  

 

A summary of revenue by geographic location appears below:

 

    Education     Campus     Total     Education     Campus     Total  
    For the Years Ended December 31,  
    2023     2022  
    Education     Campus     Total     Education     Campus     Total  
Europe / Middle East / Africa   $ 4,134,861     $ 2,524,821     $ 6,659,682     $ 3,857,193     $ 2,403,570     $ 6,260,763  
Asia / Pacific     3,374,298       1,926,563       5,300,861       2,073,866       2,234,551       4,308,417  
North America / South America     11,102,211       -       11,102,211       7,624,436       -       7,624,436  
Revenue   $ 18,611,370     $ 4,451,384     $ 23,062,754     $ 13,555,495     $ 4,638,121     $ 18,193,616