Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 15, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-35824 | |
Entity Registrant Name | Professional Diversity Network, Inc. | |
Entity Central Index Key | 0001546296 | |
Entity Tax Identification Number | 80-0900177 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 55 E. Monroe Street | |
Entity Address, Address Line Two | Suite 2120 | |
Entity Address, City or Town | Chicago | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60603 | |
City Area Code | (312) | |
Local Phone Number | 614-0950 | |
Title of 12(b) Security | Common Stock, $0.01 par value per share | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,067,252 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 4,092,473 | $ 2,117,569 |
Accounts receivable, net | 1,385,310 | 1,005,482 |
Incremental direct costs | 25,367 | 36,212 |
Prepaid expense and other current assets | 251,997 | 355,260 |
Current assets from discontinued operations | 4,600 | 6,898 |
Total current assets | 5,759,747 | 3,521,421 |
Property and equipment, net | 23,569 | 10,382 |
Capitalized technology, net | 47,430 | 25,867 |
Goodwill | 1,274,785 | 339,451 |
Intangible assets, net | 1,257,205 | 376,178 |
Right-of-use assets | 442,575 | 487,677 |
Merchant reserve | 380,849 | 760,849 |
Security deposits | 416,340 | 66,340 |
Long-term assets from discontinued operations | 197,620 | 3,085,178 |
Total assets | 9,800,120 | 8,673,343 |
Current Liabilities: | ||
Accounts payable | 286,775 | 728,379 |
Accrued expenses | 1,550,514 | 1,626,164 |
Deferred revenue | 2,003,510 | 1,901,129 |
Stock to be issued | 400,000 | |
Lease liability, current portion | 92,164 | 46,526 |
Current liabilities from discontinued operations | 407,374 | 375,276 |
Total current liabilities | 4,740,337 | 4,677,474 |
Lease liability, non-current portion | 441,798 | 463,998 |
Other long-term liabilities | 100,000 | |
Deferred tax liability | 167,692 | 186,039 |
Total liabilities | 5,449,827 | 5,327,511 |
Commitments and contingencies | ||
Stockholders’ Equity | ||
Common stock, $0.01 par value; 45,000,000 shares authorized, 16,018,212 shares and 12,820,891 shares issued as of September 30, 2021 and December 31, 2020, and 16,017,204 and 12,819,843 shares outstanding as of September 30, 2021 and December 31, 2020. | 160,183 | 128,198 |
Additional paid in capital | 98,242,236 | 95,985,080 |
Accumulated other comprehensive income | 3,054 | 292,506 |
Accumulated deficit | (94,509,710) | (93,022,835) |
Treasury stock, at cost; 1,048 shares at September 30, 2021 and December 31, 2020 | (37,117) | (37,117) |
Total Professional Diversity Network, Inc. stockholders’ equity | 3,858,646 | 3,345,832 |
Noncontrolling interest | 491,647 | |
Total stockholders’ equity | 4,350,293 | 3,345,832 |
Total liabilities, noncontrolling interests, and stockholders’ equity | $ 9,800,120 | $ 8,673,343 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 45,000,000 | |
Common Stock, Shares, Issued | 16,018,212 | 12,820,891 |
Common Stock, Shares, Outstanding | 16,017,204 | 12,819,843 |
Treasury stock, shares | 1,048 | 1,048 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues: | ||||
Total revenues | $ 1,683,015 | $ 1,305,522 | $ 4,628,032 | $ 3,239,649 |
Costs and expenses: | ||||
Cost of revenues | 346,525 | 205,974 | 867,726 | 549,371 |
Sales and marketing | 525,820 | 419,969 | 1,826,319 | 1,404,044 |
General and administrative | 873,504 | 1,561,871 | 3,303,143 | 5,296,794 |
Depreciation and amortization | 29,668 | 38,290 | 88,351 | 138,139 |
Total costs and expenses | 1,775,517 | 2,226,104 | 6,085,539 | 7,388,348 |
Loss from continuing operations | (92,502) | (920,582) | (1,457,507) | (4,148,699) |
Other income (expense) | ||||
Interest and other income | 2,393 | (5,253) | 5,128 | 961 |
Other income (expense), net | 2,393 | (5,253) | 5,128 | 961 |
Loss before income tax expense (benefit) | (90,109) | (925,835) | (1,452,379) | (4,147,738) |
Income tax expense (benefit) | (1,724) | (13,612) | (18,767) | (32,033) |
Loss from continuing operations, net of tax | (88,385) | (912,223) | (1,433,612) | (4,115,705) |
Loss from discontinued operations | (10,714) | (29,464) | (71,800) | (156,950) |
Net loss including non-controlling interests | (99,099) | (941,687) | (1,505,412) | (4,272,655) |
Net loss attributable to non-controlling interests | 18,357 | 18,357 | ||
Net loss attributable to Professional Diversity Network, Inc. | (80,562) | (941,687) | (1,486,875) | (4,272,655) |
Other comprehensive loss, net of tax: | ||||
Net loss attributable to Professional Diversity Network, Inc. | (80,562) | (941,687) | (1,486,875) | (4,272,655) |
Foreign currency translation adjustments | (799) | 102,964 | (289,452) | 131,069 |
Comprehensive loss, net of tax | $ (81,361) | $ (838,723) | $ (1,776,327) | $ (4,141,586) |
Loss per share attributable to Professional Diversity Network, Inc.,basic and diluted: | ||||
Continuing operations | $ (0.01) | $ (0.07) | $ (0.10) | $ (0.38) |
Discontinued operations | (0.01) | (0.01) | ||
Net loss attributable to Professional Diversity Network, Inc. | $ (0.01) | $ (0.07) | $ (0.11) | $ (0.39) |
Weighted average shares outstanding: | ||||
Basic and diluted | 15,115,167 | 12,488,268 | 13,830,777 | 10,756,911 |
Membership Fees And Related Services [Member] | ||||
Revenues: | ||||
Total revenues | $ 239,571 | $ 319,248 | $ 760,654 | $ 1,056,487 |
Recruitment Services [Member] | ||||
Revenues: | ||||
Total revenues | 1,368,440 | 930,330 | 3,695,205 | 2,069,250 |
Products Sales And Other [Member] | ||||
Revenues: | ||||
Total revenues | 19,487 | 218 | 22,826 | 3,548 |
Consumer Advertising And Marketing Solutions [Member] | ||||
Revenues: | ||||
Total revenues | $ 55,517 | $ 55,726 | $ 149,347 | $ 110,364 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 89,286 | $ 91,126,784 | $ (88,671,260) | $ (37,117) | $ 44,242 | $ 2,551,935 | |
Balance, shares at Dec. 31, 2019 | 8,928,611 | 1,048 | |||||
Issuance of common stock | $ 38,912 | 4,237,915 | 4,276,827 | ||||
Balance, shares | 3,891,232 | ||||||
Share-based compensation | 508,990 | 508,990 | |||||
Translation adjustments | 131,069 | 131,069 | |||||
Net loss | (4,272,655) | (4,272,655) | |||||
Ending balance, value at Sep. 30, 2020 | $ 128,198 | 95,873,689 | (92,943,915) | $ (37,117) | 175,311 | 3,196,166 | |
Balance, shares at Sep. 30, 2020 | 12,819,843 | 1,048 | |||||
Beginning balance, value at Dec. 31, 2020 | $ 128,198 | 95,985,080 | (93,022,835) | $ (37,117) | 292,506 | 3,345,832 | |
Balance, shares at Dec. 31, 2020 | 12,819,843 | 1,048 | |||||
Sale of common stock | $ 29,194 | 4,249,256 | 4,278,451 | ||||
Balance, shares | 2,919,355 | ||||||
Issuance of common stock | $ 2,791 | 163,709 | 166,500 | ||||
Balance, shares | 279,054 | ||||||
Share-based compensation | 435,915 | 435,915 | |||||
Adjustment from discontinued operations | (2,591,724) | (2,591,724) | |||||
Noncontrolling interest in subsidiary | 510,184 | 510,184 | |||||
Translation adjustments | (289,452) | (289,452) | |||||
Net loss | (1,486,875) | (18,537) | (1,505,412) | ||||
Ending balance, value at Sep. 30, 2021 | $ 160,183 | $ 98,242,246 | $ (94,509,710) | $ (37,117) | $ 3,054 | $ 491,647 | $ 4,350,293 |
Balance, shares at Sep. 30, 2021 | 16,018,252 | 1,048 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities: | ||
Loss from continuing operations | $ (1,433,612) | $ (4,115,705) |
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities - continuing operations: | ||
Depreciation and amortization | 88,351 | 138,139 |
Deferred tax benefit | (18,347) | (32,033) |
Amortization of right-of-use asset | 68,540 | 92,715 |
Accretion of lease liability | 2,312 | |
Stock-based compensation expense | 435,914 | 508,990 |
Litigation settlement reserve | 75,000 | 1,474,922 |
Payment of lease obligations | (106,859) | |
Reduction of merchant reserve | 380,000 | |
Write-off property and equipment | 1,232 | |
Changes in operating assets and liabilities, net of effects of discontinued operations: | ||
Accounts receivable | (379,828) | (261,612) |
Prepaid expenses and other current assets | 103,683 | (27,466) |
Incremental direct costs | 10,845 | 6,243 |
Accounts payable | (441,603) | (517,765) |
Accrued expenses | (150,649) | 288,479 |
Deferred revenue | 102,381 | (220,087) |
Net cash used in operating activities - continuing operations | (1,159,745) | (2,768,495) |
Net cash provided by operating activities - discontinued operations | (33,443) | (65,980) |
Net cash used in operating activities | (1,193,188) | (2,834,475) |
Cash flows from investing activities: | ||
Costs incurred to develop technology | (28,663) | (3,700) |
Purchases of property and equipment | (37,282) | (7,536) |
Payments for investment deposits | (350,000) | (66,341) |
Acquisition of equity interest in RemoteMore USA, Inc. | (863,333) | |
Net cash used in investing activities - continuing operations | (1,279,278) | (77,577) |
Net cash used in investing activities - discontinued operations | ||
Net cash provided used in investing activities | (1,279,278) | (77,577) |
Cash flows from financing activities: | ||
Proceeds from the sale of common stock | 4,444,950 | 4,276,827 |
Proceeds from short-term loan | 651,078 | |
Net cash provided by financing activities - continuing operations | 4,444,950 | 4,927,905 |
Net cash provided by financing activities | 4,444,950 | 4,927,905 |
Effect of exchange rate fluctuations on cash and cash equivalents | 2,420 | 35,983 |
Net increase (decrease) in cash and cash equivalents | 1,974,904 | 2,051,836 |
Cash, cash equivalents, beginning of period | 2,117,569 | 633,615 |
Cash and cash equivalents, end of period | 4,092,473 | 2,685,451 |
Supplemental disclosures of other cash flow information: | ||
Cash paid for income taxes | $ 3,100 |
Basis of Presentation and Descr
Basis of Presentation and Description of Business | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Description of Business | 1. Basis of Presentation and Description of Business The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. GAAP pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying condensed consolidated financial statements include all adjustments, which consist of normal recurring adjustments and transactions or events discretely impacting the interim periods, considered necessary by management to fairly state our results of operations, financial position and cash flows. The operating results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. These condensed consolidated financial statements should be read in conjunction with the audited condensed consolidated financial statements and notes thereto included in our 2020 Form 10-K. Professional Diversity Network, Inc. (“PDN, Inc.”) is both the operator of the Professional Diversity Network (the “Company,” “we,” “our,” “us,” “PDN Network,” “PDN” or the “Professional Diversity Network”) and a holding company for NAPW, Inc., a wholly-owned subsidiary of the Company and the operator of the National Association of Professional Women (the “NAPW Network” or “NAPW”). The PDN Network operates online professional networking communities with career resources specifically tailored to the needs of different diverse cultural groups including: Women, Hispanic-Americans, African-Americans, Asian-Americans, Disabled, Military Professionals, Lesbians, Gay, Bisexual, Transgender and Queer (LGBTQ), and Students and Graduates seeking to transition from education to career. The networks’ purposes, among others, are to assist its registered users in their efforts to connect with like-minded individuals, identify career opportunities within the network and connect with prospective employers. The Company’s technology platform is integral to the operation of its business. 45.62 The NAPW Network is a networking organization for professional women, whereby its members can develop their professional networks, further their education and skills, and promote their business and career accomplishments. NAPW provides its members with opportunities to network and develop valuable business relationships with other professionals through its website, as well as at events hosted at its local chapters across the country. RemoteMore USA provides companies with talented engineers to provide solutions to their software needs. Companies are given access to contract full and part-time developers from a pool of vetted candidates matching skills, experience and location through a remote-hiring marketplace. In March 2020, our Board of Directors decided to suspend all China operations generated by the former CEO, Michael Wang. The results of China operations are presented in the condensed consolidated statements of operations and comprehensive loss as net loss from discontinued operations. On March 19, 2020, Jiangxi PDN Culture Media Co., Ltd. (“Jiangxi PDN”), a company established under the laws of the People’s Republic of China and a variable interest entity (VIE) controlled by Professional Diversity Network, Inc. (“PDN”), issued a Notice of Termination of the Agreement of Acquisition and Equity Transfer (the “Termination”). This Notice was exercised under Jiangxi PDN’s unilateral right and was delivered on March 19, 2020. Under the terms of the Termination, no additional due diligence shall be completed, any materials shall be returned to the respective owners, and there shall be no breakup fee or penalty associated with this Termination. We expect no further involvement in this matter. |
Going Concern and Management_s
Going Concern and Management’s Plans | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern and Management’s Plans | 2. Going Concern and Management’s Plans At September 30, 2021, the Company’s principal sources of liquidity were its cash and cash equivalents and the net proceeds from the sale of common stock during the third quarter of 2021. The Company had an accumulated deficit of ($ 94,509,710 ) at September 30, 2021. During the three and nine months ended September 30, 2021, the Company generated a net loss from continuing operations of ($ 88,385 ) and ($ 1,433,612 ). During the nine months ended September 30, 2021, the Company used cash in continuing operations of $ 1,159,745 . At September 30, 2021, the Company had a cash balance of $ 4,092,473 . Total revenues were approximately $ 4,628,032 and $ 3,239,649 for the nine months ended September 30, 2021 and 2020. Total revenues were approximately $ 1,683,015 and $ 1,305,522 for the three months ended September 30, 2021 and 2020. The Company had a working capital surplus from continuing operations of approximately $ 1,019,410 and a working capital deficiency of approximately ($ 1,156,000 ) at September 30, 2021 and December 31, 2020. These conditions raise substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to further implement its business plan, raise capital, and generate revenues. The condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management believes that its available cash on hand and cash flow from operations may not be sufficient to meet our working capital requirements for the twelve-month period subsequent to the issuance of our financial statements. In order to accomplish our business plan objectives, the Company will need to continue its cost reduction efforts, increase revenues, raising capital through the issuance of common stock, or through a strategic merger or acquisition. However, there can be no assurances that our business plans and actions will be successful, that we will generate anticipated revenues, or that unforeseen circumstances will not require additional funding sources in the future or effectuate plans to conserve liquidity. Future efforts to improve liquidity through the issuance of our common stock may not be successful or they may not be available on acceptable terms, if at all. On February 1, 2021, the Company entered into a private placement with Ms. Yiran Gu, in which the Company sold 500,000 2.00 1,000,000 On July 9, 2021 the Company closed the registered direct offering, pursuant to which certain institutional accredited investors purchased 1,470,588 0.01 2,499,999.60 On September 22, 2021, the Company entered into a stock purchase agreement with Cosmic Forward Limited, in which the Company sold 948,767 1.05 1,000,000 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 3. Summary of Significant Accounting Policies Principles of Consolidation Use of Estimates – The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future intervening events. Accordingly, the actual results could differ significantly from estimates. Significant estimates underlying the financial statements include the fair value of acquired assets and liabilities associated with acquisitions; the assessment of goodwill for impairment, intangible assets and long-lived assets for impairment; allowances for doubtful accounts and assumptions related to the valuation allowances on deferred taxes, impact of applying the revised federal tax rates on deferred taxes, the valuation of stock-based compensation and the valuation of stock warrants. Principles of Consolidation - The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Cash Equivalents Accounts Receivable 112,000 157,000 Incremental Direct Costs 102,000 78,000 33,000 26,000 Property and Equipment - Property and equipment is stated at cost, including any cost to place the property into service, less accumulated depreciation. Depreciation is recorded on a straight-line basis over the estimated useful lives of the assets which currently range from three to five years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the term of the lease. Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets sold or retired and related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting profit or loss is reflected in income or expense for the period. Depreciation expense during the nine months ended September 30, 2021 and 2020 was approximately $ 24,000 and $ 69,000 and for three months ended September 30, 2021 and 2020 was approximately $ 6,000 and $ 18,000 , and is recorded in depreciation and amortization expense in the accompanying condensed consolidated statements of operations. Lease Obligations On September 23, 2020, the Company entered into a new office lease agreement for its corporate headquarters. The office lease is for 4,902 84 Capitalized Technology Costs Business Combinations - ASC 805, Business Combinations (“ASC 805”), applies the acquisition method of accounting for business combinations to all acquisitions where the acquirer gains a controlling interest, regardless of whether consideration was exchanged. ASC 805 establishes principles and requirements for how the acquirer: a) recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any non-controlling interest in the acquiree; b) recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. Accounting for acquisitions requires the Company to recognize, separately from goodwill, the assets acquired and the liabilities assumed at their acquisition-date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition-date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, the estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the condensed consolidated statements of operations. Goodwill and Intangible Assets Goodwill is tested for impairment at the reporting unit level on an annual basis (December 31 for the Company) and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. The Company considers its market capitalization and the carrying value of its assets and liabilities, including goodwill, when performing its goodwill impairment test. When conducting its annual goodwill impairment assessment, the Company initially performs a qualitative evaluation of whether it is more likely than not that goodwill is impaired. If it is determined by a qualitative evaluation that it is more likely than not that goodwill is impaired, the Company then compares the fair value of the Company’s reporting unit to its carrying or book value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired and the Company is not required to perform further testing. If the carrying value of a reporting unit exceeds its fair value, the Company will measure any goodwill impairment losses as the amount by which the carrying amount of a reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Treasury Stock Discontinued Operations China Operations The Company previously disclosed in its Form 10-K for the year ending December 31, 2019 (the “2019 10-K”) and subsequently that the assets of PDN China were frozen by Chinese local authorities in November 2019 in connection with the criminal investigation of alleged illegal public fund raising by Gatewang Group (the “Gatewang Case”), a separate company organized under the laws of the People’s Republic of China (“Gatewang”), with which Mr. Maoji (Michael) Wang, the former Chairman and CEO of the Company was affiliated. A subsequent investigation led by a special committee of the Board concluded that it did not find any evidence that the Company or PDN China has engaged in the criminal activity of illegal fund-raising as alleged against Gatewang. The Company subsequently discontinued all of its operations in China. The Company also previously disclosed in the 2019 Form 10-K that although the seizure of PDN China’s assets had been lifted in March 2020, however on April 22, 2021, the Company learned that RMB 18,841,064.15 (approximately $ 2.9 million) had been seized from the PDN China Account by Longxu District Court of Wuzhou City in Guangxi Province to satisfy a judgment in favor of the plaintiffs in the Gatewang Case. On April 26, 2021, the Company concluded that the seizure of such cash assets is a material reduction of Company assets required to be reported by this filing. The Company has reflected the seizure of these cash funds in its condensed consolidated balance sheets as of September 30, 2021. The Company has asserted its claim to these funds as the genuine owner to the Chinese officials and asked for their return. The Company plans to pursue all possible legal alternatives to have these funds returned to the Company but such return is uncertain at this time. All historical operating results for the Company’s China operations are included in a loss from discontinued operations, net of tax, in the accompanying statement of operations. For the three and nine months ended September 30, 2021, loss from discontinued operations was approximately $( 11,000 72,000 29,000 157,000 Assets and liabilities of China operations are now included in current assets and long-term assets from discontinued operations, and current liabilities and long-term liabilities from discontinued operations. Current assets from discontinued operations were approximately $ 4,600 6,898 198 3,085 407 375 Operating Results of Discontinued Operations The following table represents the components of gross operating results from discontinued operations, which are included in the statements of operations and comprehensive loss for the three and six months ended September 30, 2021 and 2020: Schedule of Operating Results of Discontinued Operations 2021 2020 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues $ - $ - $ - $ - Cost of Sales 9,788 3,828 30,305 18,971 Depreciation and amortization - - - 1,676 Sales and marketing - - - 82,120 General and administrative 6,510 27,459 36,708 50,453 Non-operating expense (5,585 ) (1,823 ) 4,787 (3,730 ) Loss from discontinued operations before income tax (10,713 ) (29,464 ) (71,800 ) (156,950 ) Income tax expense (benefit) - - - - Net loss from discontinued operations $ (10,713 ) $ (29,464 ) $ (71,800 ) $ (156,950 ) Advertising and Marketing Expenses – Advertising and marketing expenses are expensed as incurred or the first time the advertising takes place. The production costs of advertising are expensed the first time the advertising takes place. For the three and nine months ended September 30, 2021, the Company incurred advertising and marketing expenses of approximately $ 198,000 and $ 608,000 , as compared to approximately $ 174,000 and $ 511,000 in the same periods of the fiscal 2020. These amounts are included in sales and marketing expenses in the accompanying statements of operations. At September 30, 2021 and December 31, 2020, there were no prepaid advertising expenses recorded in the accompanying balance sheets. Concentrations of Credit Risk Income Taxes ASC 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with ASC 740-20 and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of September 30, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company may be subject to potential income tax examinations by federal or state authorities. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with federal and state tax laws. Management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Tax years that remain open for assessment for federal and state tax purposes include the years ended December 31, 2017 through 2020. The Company’s policy for recording interest and penalties associated with audits is to record such expense as a component of income tax expense. There were no Fair Value of Financial Assets and Liabilities Net Loss per Share Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share As of September 30, 2021 2020 Warrants to purchase common stock 125,000 125,000 Stock options 26,126 66,126 Unvested restricted stock 159,524 206,775 Total dilutive securities 310,650 397,901 Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12) which simplifies the accounting for income taxes by removing certain exceptions for investments, intraperiod allocations, and interim calculations, and adds guidance to reduce the complexity of applying Topic 740. This ASU was effective for the Company on January 1, 2021. The adoption of ASU 2019-12 did not have a material impact to the Company’s condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reportin |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Combinations | 4. Business Combinations On September 20, 2021, the Company acquired a 45.62 % interest in RemoteMore USA, Inc., a software developer recruiting company, for an estimated total purchase price of $ 1,363,333 863,333 500,000 The purchase price allocation as of the date of the acquisition was based on a detailed analysis about the fair value of assets acquired. (No liabilities were assumed.) The major classes of assets to which we have allocated the purchase price were as follows: Schedule of Company Preliminary Measurement Goodwill $ 935,334 Intangible assets 427,999 $ 1,363,333 The goodwill recognized in connection with the acquisition is primarily attributable to anticipated synergies from future growth and is expected to be deductible for tax purposes. |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2021 | |
Revenues: | |
Revenue Recognition | 5. Revenue Recognition The Company recognizes revenue under the core principle of ASC 606, to depict the transfer of control to its customers in an amount reflecting the consideration to which it expects to be entitled. In order to achieve that core principle, the Company has applied the following five-step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied. The Company’s contracts with customers may provide for multiple promised goods and services. The Company typically analyzes the contract and identifies the performance obligations by evaluating whether the promised goods and services are capable of being distinct within the context of the contract at contract inception. Promised goods and services that are not distinct at contract inception are combined. The next step after identifying the performance obligations is determining the transaction price, which includes the impact of variable consideration, based on contractually fixed amounts and an estimation of variable consideration. The Company allocates the transaction price to each performance obligation based on relative stand-alone selling price. Judgment is exercised to determine the stand-alone selling price of each distinct performance obligation. The Company estimates the standalone selling price by reference to the total transaction price less the sum of the observable stand-alone selling prices of other goods or services promised in the contract. In general, transaction price is determined by estimating the fixed amount of consideration to which we are entitled for transfer of goods and services and all relevant sources and components of variable consideration. Any variable consideration is estimated by the Company based on the expected value approach. The Company will then estimate variable consideration for a particular type of performance obligation, such method is consistently applied. The Company will constrain estimates of variable consideration based on its expectation of recovery from the customer. Revenues are generally recognized when control of the promised goods or services is transferred to their customers either at a point in time or over time, in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services. Many of the Company’s contracts have one performance obligation and all consideration is allocated to that performance obligation and recognized at a point in time contemporaneous when the service is performed or with the date of the event. The Company may have contracts where there is an extended timing difference between payment and the time when control of the goods or services is transferred to the customer. The Company has adopted the practical expedient and does not adjust for the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception, that the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. Nature of Goods and Services The following is a description of principal activities from which the Company generates its revenue: Membership Fees and Related Services Membership fees of longer than one month are collected up-front and member benefits become available immediately; however those benefits must remain available over the 12-month membership period. At the time of enrollment, membership fees are recorded as deferred revenue and are recognized as revenue ratably over the 12-month membership period. Members who are enrolled in this plan may cancel their membership in the program at any time and receive a partial refund (amount remaining in deferred revenue) or due to consumer protection legislation, a full refund based on the policies of the member’s credit card company. The Company also offers monthly memberships for which it collects fees on a monthly basis and recognizes revenue in the same month as the fees are collected. Revenue from related membership services are derived from fees for development and set-up of a member’s personal on-line profile and/or press release announcements. Fees related to these services are recognized as revenue at the time the on-line profile is complete and press release is distributed. Recruitment Services The Company’s recruitment services revenue is derived from the Company’s agreements through single and multiple job postings, recruitment media, talent recruitment communities, basic and premier corporate memberships, hiring campaign marketing and advertising, e-newsletter marketing and research and outreach services. Recruitment revenue includes revenue recognized from direct sales to customers for recruitment services and events, as well as revenue from the Company’s direct e-commerce sales. Direct sales to customers are most typically a twelve-month contract for services and as such the revenue for each contract is recognized ratably over its twelve-month term. Event revenue is recognized in the period that the event takes place and e-commerce sales are for sixty to ninety day job postings and the revenue from those sales are recognized when the service is provided. The Company’s recruitment services mainly consist of the following products: ● On-line job postings to our diversity sites and to our broader network of websites including the National Association for the Advancement of Colored People, National Urban League, Kappa Alpha Psi, Phi Beta Sigma and many other partner organizations; ● OFCCP job promotion and recordation services; ● Diversity job fairs, both in person and virtual fairs; ● Diversity recruitment job advertising services; ● Cost per application, a service that employers can purchase whereby PDN sources qualified candidates and charges only for those applicants who meet the employers’ minimum qualifications; and ● Diversity executive staffing services. Product Sales and Other Revenue Products offered to members relate to custom made plaques. Product sales are recognized as deferred revenue at the time the initial order is placed. Revenue is then recognized at the time these products are shipped. The Company’s shipping and handling costs are included in cost of sales in the accompanying condensed consolidated statements of operations. Revenues generated from contracts entered into to provide software solutions are recognized as work is performed and invoiced to customers at the beginning of the following month with payment typically due within 14 days. Consumer Advertising and Marketing Solutions The Company provides career opportunity services to its various partner organizations through advertising and job postings on their websites. The Company works with its partners to develop customized websites and job boards where the partners can generate advertising, job postings and career services to their members, students and alumni. Consumer advertising and marketing solutions revenue is recognized as jobs are posted to their hosted sites. Disaggregation of revenue Revenue is disaggregated by product line and timing of transfer of products and services and is in line with our reportable segments as described in Note 13 - Segment Reporting. Contract Balances The Company’s rights to consideration for work completed, but not billed at the reporting date, is classified as a receivable, as it has an unconditional right to payment or only conditional for the passage of time. The Company has no Consideration received in advance from customers is recorded as a contract liability, if a contract exists under ASC 606, until services are delivered or obligations are met and revenue is earned. Contract liability represents the excess of amounts invoiced over amounts recognized as revenues. Contract liabilities to be recognized in the succeeding twelve-month period are classified as current contract liabilities and the remaining amounts, if any, are classified as non-current contract liabilities. Contract liabilities of approximately $ 2,004 ,000 are included in current deferred revenues, on the condensed consolidated balance sheets as of September 30, 2021. For the three months ended September 30, 2021, we recognized revenue associated with contract liabilities of approximately $ 1,068 ,000 that were included in the contract liabilities balance at the beginning of the period. Transaction price allocated to the remaining performance obligations The Company applies the optional exemptions and does not disclose: a) information about remaining performance obligations that have an original expected duration of one year or less or b) transaction price allocated to unsatisfied performance obligations for which variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with the series guidance. The typical duration of all event related and other contracts is one year or less and, as a result, the Company applies the optional exemptions and does not disclose information about remaining performance obligations that have an original expected duration of one year or less. The Company has also elected to not disclose transaction price allocated to unsatisfied performance obligations for which variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service for event related promises for those contracts that contain percentage of the sales. The fees are variable for this type of contract, and the uncertainty related to the final fee, is resolved within the current year. |
Capitalized Technology
Capitalized Technology | 9 Months Ended |
Sep. 30, 2021 | |
Research and Development [Abstract] | |
Capitalized Technology | 6. Capitalized Technology Capitalized Technology, net is as follows: Schedule of Capitalized Technology September 30, 2021 December 31, 2020 Capitalized cost: Balance, beginning of period $ 2,169,245 $ 2,169,245 Additional capitalized cost 49,970 - Balance, end of period $ 2,219,215 $ 2,169,245 Accumulated amortization: Balance, beginning of period $ 2,143,378 $ 2,130,037 Provision for amortization 28,407 13,341 Balance, end of period 2,171,785 2,143,378 Capitalized Technology, net $ 47,430 $ 25,867 For the three months ended September 30, 2021 and 2020, amortization expense was approximately $ 9,500 1,770 28,400 12,000 |
Intangible Assets
Intangible Assets | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | 7. Intangible Assets Intangible assets, net was as follows: Schedule of Intangible Assets Useful Lives Gross Carrying Accumulated Net Carrying September 30, 2021 (Years) Amount Amortization Amount Long-lived intangible assets: Sales Process 10 $ 2,130,956 $ (1,902,334 ) $ 228,622 Paid Member Relationships 5 803,472 (803,472 ) - Member Lists 5 8,086,181 (8,086,181 ) - Developed Technology 3 648,000 (648,000 ) - Trade Name/Trademarks 4 442,500 (440,000 ) 2,500 Contracts purchased Based on terms 935,683 - 935,683 13,046,792 (11,879,987 ) 1,166,805 Indefinite-lived intangible assets: Trade name 90,400 Intangible assets, net $ 1,257,205 Useful Lives Gross Carrying Accumulated Net Carrying December 31, 2020 (Years) Amount Amortization Amount Long-lived intangible assets: Sales Process 10 $ 2,130,956 $ (1,845,178 ) $ 285,778 Paid Member Relationships 5 803,472 (803,472 ) - Member Lists 5 8,086,181 (8,086,181 ) - Developed Technology 3 648,000 (648,000 ) - Trade Name/Trademarks 4 440,000 (440,000 ) - 12,108,609 (11,822,831 ) 285,778 Indefinite-lived intangible assets: Trade name 90,400 Intangible assets, net $ 376,178 As of September 30, 2021, estimated amortization expense in future fiscal years is summarized as follows: Schedule of Future Annual Estimated Amortization Expense Year ended December 31, Remaining of 2021 $ 288,872 2022 742,851 2023 76,832 2024 57,781 2025 469 Net Carrying Amount $ 1,166,805 For the three months ended September 30, 2021 and 2020, amortization expense was approximately $ 19,000 57,000 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 8. Commitments and Contingencies Lease Obligations - As of September 30, 2021, right of use assets and related current lease obligations were $ 442,575 and $ 92,164 , as recorded on the Company’s condensed consolidated balance sheets. Other - 195,000 Legal Proceedings In a letter dated October 12, 2017, White Winston Select Asset Funds (“White Winston”) threatened to assert claims against the Company in excess of $ 2 250,000 350,000 150,000 NAPW (as leasee) is a defendant in a Nassau County (NY) Supreme Court case. TL Franklin Avenue Plaza LLC (as lessor) has sued and obtained a judgment against NAPW in the amount of $ 855,002 The Company and its wholly-owned subsidiary, NAPW, Inc., are parties to a proceeding captioned Deborah Bayne, et al. vs. NAPW, Inc. and Professional Diversity Network, Inc., No. 18-cv-3591 (E.D.N.Y.), filed on June 20, 2018 and alleging violations of the Fair Labor Standards Act and certain provisions of the New York Labor Law. The Company disputes that it or its subsidiary violated the applicable laws or that either entity has any liability and intends to vigorously defend against these claims. The matter is in the final stages of discovery and we have completed depositions of relevant witnesses. During the first quarter of 2020, the Company recorded a $ 450,000 General Legal Matters From time to time, the Company is involved in legal matters arising in the ordinary course of business. While the Company believes that such matters are currently not material, there can be no assurance that matters arising in the ordinary course of business for which the Company is, or could be, involved in litigation, will not have a material adverse effect on its business, financial condition or results of operations. |
CFL Transaction
CFL Transaction | 9 Months Ended |
Sep. 30, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
CFL Transaction | 9. CFL Transaction On August 12, 2016, the Company entered into a stock purchase agreement (the “Purchase Agreement”), with CFL, a Republic of Seychelles company wholly-owned by a group of Chinese investors. Pursuant to the Purchase Agreement, the Company agreed to issue and sell to CFL, and CFL agreed to purchase, upon the terms and subject to the conditions set forth in the Purchase Agreement, a number of shares of the Company’s common stock, par value $ 0.01 51 At the closing of the CFL Transaction, the Company entered into a Stockholders’ Agreement, dated November 7, 2016 (the “Stockholders’ Agreement”) with CFL and each of its shareholders: Maoji (Michael) Wang, Jingbo Song, Yong Xiong Zheng and Nan Kou (the “CFL Shareholders”). The Stockholders’ Agreement sets forth the agreement of the Company, CFL and the CFL Shareholders relating to board representation rights, transfer restrictions, standstill provisions, voting, registration rights and other matters following the closing of the Share Issuance and Sale. On September 22, 2021, the Company entered into a stock purchase agreement with CFL, in which the Company sold 948,767 shares of its common stock at a price per share of $ 1.05 for gross proceeds of approximately $ 1,000,000 . 751,737 1.50 1,127,605 As of September 30, 2021 and November 15, 2021, CFL beneficially holds shares of the Company’s outstanding Common Stock equal to approximately 27.4 32 |
Stockholders_ Equity
Stockholders’ Equity | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Stockholders’ Equity | 10. Stockholders’ Equity Preferred Stock 1,000,000 Common Stock 45,000,000 16,018,252 In January 2021, the Company issued 150,000 On February 1, 2021, the Company entered into a private placement with Ms. Yiran Gu, in which the Company sold 500,000 2.00 1,000,000 On July 9, 2021, the Company closed the registered direct offering, pursuant to which certain institutional accredited investors purchased 1,470,588 0.01 1.70 2,499,999.60 On September 22, 2021, the Company entered into a stock purchase agreement with CFL, in which the Company sold 948,767 1.05 1,000,000 |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | 11. Stock-Based Compensation Equity Incentive Plans 225,000 915,000 585,000 1,500,000 Stock Options The fair value of options is estimated on the date of grant using the Black-Scholes option pricing model. The valuation determined by the Black-Scholes pricing model is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The risk-free rate is based on the U.S. Treasury rate for the expected life at the time of grant, volatility is based on the average long-term implied volatilities of peer companies, the expected life is based on the estimated average of the life of options using the simplified method, and forfeitures are estimated on the date of grant based on certain historical data. The Company utilizes the simplified method to determine the expected life of its options due to insufficient exercise activity during recent years as a basis from which to estimate future exercise patterns. The expected dividend assumption is based on the Company’s history and expectation of dividend payouts. Forfeitures are required to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The following table summarizes the Company’s stock option activity for the nine months ended September 30, 2021 and 2020: Schedule of Stock Option Activity Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Life Intrinsic Options Price (in Years) Value Outstanding - January 1, 2021 66,126 $ 5.24 8.3 $ Granted 30,000 2.10 9.7 Exercised - - - Forfeited (30,000 ) 3.69 - Outstanding - September 30 2021 66,126 $ 4.52 8.6 $ - Exercisable at September 30, 2021 36,126 $ 6.53 6.6 $ - Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Life Intrinsic Options Price (in Years) Value Outstanding - January 1, 2020 295,793 $ 8.88 7.5 $ Granted 30,000 3.69 9.7 Exercised - - - Forfeited (259,667 ) 9.21 - Outstanding - September 30, 2020 66,126 $ 5.24 8.6 $ - Exercisable at September 30, 2020 26,126 $ 8.18 4.2 $ - Total unrecognized pre-tax stock-based compensation expense related to unvested stock options at September 30, 2021 was approximately $ 0 Warrants As of September 30, 2021 and December 31, 2020, 125,000 20.00 0 December 30, 2021 Restricted Stock As of September 30, 2021 and 2020, the following is a summary of restricted stock activity: Schedule of Restricted Stock Award Activity Number of Shares Outstanding - January 1, 2021 233,875 Granted 59,524 Forfeited - Vested (133,875 ) Outstanding - September 30, 2021 159,524 Number of Shares Outstanding - January 1, 2020 27,319 Granted 306,775 Forfeited - Vested (127,319 ) Outstanding - September 30, 2020 206,775 Additionally, the Company had no non-cash pre-tax stock-based compensation expense recorded for the nine months ended September 30, 2021 and 2020, respectively, as a component of general and administrative expenses in the accompanying statements of operations, pertaining to restricted stock. Total unrecognized pre-tax stock-based compensation expense related to unvested restricted stock at September 30, 2021 was $ 0 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 12. Income Taxes The Company’s quarterly income tax provision is based upon an estimated annual income tax rate. The Company’s quarterly provision for income taxes also includes the tax impact of discrete items, if any, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur. During the three months ended September 30, 2021 and 2020, the Company recorded income tax benefit of $ 1,724 13,612 , respectively. For the nine months ended September 30, 2021 and 2020, the Company recorded a benefit for income tax of $ 18,767 32,033 . The decrease in income tax benefit during the current nine-month period was primarily due to an increase in discrete tax items associated with litigation settlement reserves and changes in the Company’s net operating losses. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of the deferred income tax asset balances to warrant the application of a valuation allowance as of September 30, 2021. The valuation allowance at September 30, 2021 was approximately $ 8,951,000 313,000 |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Segment Information | 13. Segment Information The Company operates in the following segments: (i) PDN Network, (ii) Other (which includes NAPW Network and RemoteMore) and (iii) Corporate Overhead. The financial results of China Operations have been reclassified from the Company’s reportable segments to discontinued operations for all periods presented. The following tables present key financial information related of the Company’s reportable segments related to financial position as of September 30, 2021 and December 31, 2020 and results of operations for the three and nine months ended September 30, 2021 and 2020: Schedule of Segment Information Network Network Overhead Consolidated Three Months Ended September 30, 2021 PDN Corporate Network Other Overhead Consolidated Membership fees and related services $ - $ 239,571 $ - $ 239,571 Recruitment services 1,368,440 - - 1,368,440 Products sales and other - 19,487 - 19,487 Consumer advertising and marketing solutions 55,517 - - 55,517 Total revenues 1,423,957 259,058 - 1,683,015 Income (loss) from continuing operations 692,356 (202,184 ) (582,674 ) (92,502 ) Depreciation and amortization 5,875 23,793 - 29,668 Income tax (benefit) expense 7,406 (2,276 ) (6,854 ) (1,724 ) Net loss from continuing operations 687,343 (199,909 ) (575,820 ) (88,385 ) As of September 30, 2021 Goodwill $ 339,451 $ 935,334 $ - $ 1,274,785 Intangibles assets, net 90,400 1,166,805 - 1,257,205 Assets from continuing operations 8,377,328 1,220,572 - 9,597,900 Network Network Overhead Consolidated Three Months Ended September 30, 2020 PDN Corporate Network Other Overhead Consolidated Membership fees and related services $ - $ 319,248 $ - $ 319,248 Recruitment services 930,330 - - 930,330 Products sales and other - 218 - 218 Consumer advertising and marketing solutions 55,726 - - 55,726 Total revenues 986,056 319,466 - 1,305,522 Loss from continuing operations 315,145 42,958 ) (1,278,685 ) (920,582 ) Depreciation and amortization 4,560 33,730 - 38,290 Income tax benefit 1,893 (28 ) (15,477 ) (13,612 ) Net loss from continuing operations 307,999 42,986 (1,263,208 ) (912,223 ) As of December 31, 2020 Goodwill $ 339,451 $ - $ - $ 339,451 Intangibles assets, net 90,400 323,881 - 414,281 Assets from continuing operations 2,103,830 1,197,336 - 3,301,166 Network Network Overhead Consolidated Nine Months Ended September 30, 2021 PDN Corporate Network Other Overhead Consolidated Membership fees and related services $ - $ 760,654 $ - $ 760,654 Recruitment services 3,695,205 - - 3,695,205 Products sales and other - 22,826 - 22,826 Consumer advertising and marketing solutions 149,347 - - 149,347 Total revenues 3,844,552 783,480 - 4,628,032 Income (loss) from continuing operations 1,298,391 (620,063 ) (2,135,833 ) (1,457,507 ) Depreciation and amortization 9,472 78,879 - 88,351 Income tax expense (benefit) 16,837 (8,011 ) (27,593 ) (18,767 ) Net income (loss) from continuing operations 1,286,681 (612,053 ) (2,108,240 ) (1,433,612 ) Network Network Overhead Consolidated Nine Months Ended September 30, 2020 PDN Corporate Network Other Overhead Consolidated Membership fees and related services $ - $ 1,056,487 $ - $ 1,056,487 Recruitment services 2,069,250 - - 2,069,250 Products sales and other - 3,548 - 3,548 Consumer advertising and marketing solutions 110,364 - - 110,364 Total revenues 2,179,614 1,060,035 - 3,239,649 Loss from continuing operations 82,595 (395,348 ) (3,835,946 ) (4,148,699 ) Depreciation and amortization 31,070 107,069 - 138,139 Income tax benefit 821 (2,636 ) (30,218 ) (32,033 ) Net loss from continuing operations 82,735 (392,712 ) (3,805,728 ) (4,115,705 ) |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | 14. Subsequent Events The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q, and determined that there have been no events that have occurred that would require adjustments to our disclosures in the condensed consolidated financial statements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation |
Use of Estimates | Use of Estimates – The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future intervening events. Accordingly, the actual results could differ significantly from estimates. Significant estimates underlying the financial statements include the fair value of acquired assets and liabilities associated with acquisitions; the assessment of goodwill for impairment, intangible assets and long-lived assets for impairment; allowances for doubtful accounts and assumptions related to the valuation allowances on deferred taxes, impact of applying the revised federal tax rates on deferred taxes, the valuation of stock-based compensation and the valuation of stock warrants. |
Principles of Consolidation | Principles of Consolidation - The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. |
Cash Equivalents | Cash Equivalents |
Accounts Receivable | Accounts Receivable 112,000 157,000 |
Incremental Direct Costs | Incremental Direct Costs 102,000 78,000 33,000 26,000 |
Property and Equipment | Property and Equipment - Property and equipment is stated at cost, including any cost to place the property into service, less accumulated depreciation. Depreciation is recorded on a straight-line basis over the estimated useful lives of the assets which currently range from three to five years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the term of the lease. Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets sold or retired and related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting profit or loss is reflected in income or expense for the period. Depreciation expense during the nine months ended September 30, 2021 and 2020 was approximately $ 24,000 and $ 69,000 and for three months ended September 30, 2021 and 2020 was approximately $ 6,000 and $ 18,000 , and is recorded in depreciation and amortization expense in the accompanying condensed consolidated statements of operations. |
Lease Obligations | Lease Obligations On September 23, 2020, the Company entered into a new office lease agreement for its corporate headquarters. The office lease is for 4,902 84 |
Capitalized Technology Costs | Capitalized Technology Costs |
Business Combinations | Business Combinations - ASC 805, Business Combinations (“ASC 805”), applies the acquisition method of accounting for business combinations to all acquisitions where the acquirer gains a controlling interest, regardless of whether consideration was exchanged. ASC 805 establishes principles and requirements for how the acquirer: a) recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any non-controlling interest in the acquiree; b) recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. Accounting for acquisitions requires the Company to recognize, separately from goodwill, the assets acquired and the liabilities assumed at their acquisition-date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition-date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, the estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the condensed consolidated statements of operations. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill is tested for impairment at the reporting unit level on an annual basis (December 31 for the Company) and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. The Company considers its market capitalization and the carrying value of its assets and liabilities, including goodwill, when performing its goodwill impairment test. When conducting its annual goodwill impairment assessment, the Company initially performs a qualitative evaluation of whether it is more likely than not that goodwill is impaired. If it is determined by a qualitative evaluation that it is more likely than not that goodwill is impaired, the Company then compares the fair value of the Company’s reporting unit to its carrying or book value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired and the Company is not required to perform further testing. If the carrying value of a reporting unit exceeds its fair value, the Company will measure any goodwill impairment losses as the amount by which the carrying amount of a reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to that reporting unit. |
Treasury Stock | Treasury Stock |
Discontinued Operations | Discontinued Operations China Operations The Company previously disclosed in its Form 10-K for the year ending December 31, 2019 (the “2019 10-K”) and subsequently that the assets of PDN China were frozen by Chinese local authorities in November 2019 in connection with the criminal investigation of alleged illegal public fund raising by Gatewang Group (the “Gatewang Case”), a separate company organized under the laws of the People’s Republic of China (“Gatewang”), with which Mr. Maoji (Michael) Wang, the former Chairman and CEO of the Company was affiliated. A subsequent investigation led by a special committee of the Board concluded that it did not find any evidence that the Company or PDN China has engaged in the criminal activity of illegal fund-raising as alleged against Gatewang. The Company subsequently discontinued all of its operations in China. The Company also previously disclosed in the 2019 Form 10-K that although the seizure of PDN China’s assets had been lifted in March 2020, however on April 22, 2021, the Company learned that RMB 18,841,064.15 (approximately $ 2.9 million) had been seized from the PDN China Account by Longxu District Court of Wuzhou City in Guangxi Province to satisfy a judgment in favor of the plaintiffs in the Gatewang Case. On April 26, 2021, the Company concluded that the seizure of such cash assets is a material reduction of Company assets required to be reported by this filing. The Company has reflected the seizure of these cash funds in its condensed consolidated balance sheets as of September 30, 2021. The Company has asserted its claim to these funds as the genuine owner to the Chinese officials and asked for their return. The Company plans to pursue all possible legal alternatives to have these funds returned to the Company but such return is uncertain at this time. All historical operating results for the Company’s China operations are included in a loss from discontinued operations, net of tax, in the accompanying statement of operations. For the three and nine months ended September 30, 2021, loss from discontinued operations was approximately $( 11,000 72,000 29,000 157,000 Assets and liabilities of China operations are now included in current assets and long-term assets from discontinued operations, and current liabilities and long-term liabilities from discontinued operations. Current assets from discontinued operations were approximately $ 4,600 6,898 198 3,085 407 375 Operating Results of Discontinued Operations The following table represents the components of gross operating results from discontinued operations, which are included in the statements of operations and comprehensive loss for the three and six months ended September 30, 2021 and 2020: Schedule of Operating Results of Discontinued Operations 2021 2020 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues $ - $ - $ - $ - Cost of Sales 9,788 3,828 30,305 18,971 Depreciation and amortization - - - 1,676 Sales and marketing - - - 82,120 General and administrative 6,510 27,459 36,708 50,453 Non-operating expense (5,585 ) (1,823 ) 4,787 (3,730 ) Loss from discontinued operations before income tax (10,713 ) (29,464 ) (71,800 ) (156,950 ) Income tax expense (benefit) - - - - Net loss from discontinued operations $ (10,713 ) $ (29,464 ) $ (71,800 ) $ (156,950 ) |
Advertising and Marketing Expenses | Advertising and Marketing Expenses – Advertising and marketing expenses are expensed as incurred or the first time the advertising takes place. The production costs of advertising are expensed the first time the advertising takes place. For the three and nine months ended September 30, 2021, the Company incurred advertising and marketing expenses of approximately $ 198,000 and $ 608,000 , as compared to approximately $ 174,000 and $ 511,000 in the same periods of the fiscal 2020. These amounts are included in sales and marketing expenses in the accompanying statements of operations. At September 30, 2021 and December 31, 2020, there were no prepaid advertising expenses recorded in the accompanying balance sheets. |
Concentrations of Credit Risk | Concentrations of Credit Risk |
Income Taxes | Income Taxes ASC 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with ASC 740-20 and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of September 30, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company may be subject to potential income tax examinations by federal or state authorities. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with federal and state tax laws. Management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Tax years that remain open for assessment for federal and state tax purposes include the years ended December 31, 2017 through 2020. The Company’s policy for recording interest and penalties associated with audits is to record such expense as a component of income tax expense. There were no |
Fair Value of Financial Assets and Liabilities | Fair Value of Financial Assets and Liabilities |
Net Loss per Share | Net Loss per Share Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share As of September 30, 2021 2020 Warrants to purchase common stock 125,000 125,000 Stock options 26,126 66,126 Unvested restricted stock 159,524 206,775 Total dilutive securities 310,650 397,901 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12) which simplifies the accounting for income taxes by removing certain exceptions for investments, intraperiod allocations, and interim calculations, and adds guidance to reduce the complexity of applying Topic 740. This ASU was effective for the Company on January 1, 2021. The adoption of ASU 2019-12 did not have a material impact to the Company’s condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reportin |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Schedule of Operating Results of Discontinued Operations | The following table represents the components of gross operating results from discontinued operations, which are included in the statements of operations and comprehensive loss for the three and six months ended September 30, 2021 and 2020: Schedule of Operating Results of Discontinued Operations 2021 2020 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues $ - $ - $ - $ - Cost of Sales 9,788 3,828 30,305 18,971 Depreciation and amortization - - - 1,676 Sales and marketing - - - 82,120 General and administrative 6,510 27,459 36,708 50,453 Non-operating expense (5,585 ) (1,823 ) 4,787 (3,730 ) Loss from discontinued operations before income tax (10,713 ) (29,464 ) (71,800 ) (156,950 ) Income tax expense (benefit) - - - - Net loss from discontinued operations $ (10,713 ) $ (29,464 ) $ (71,800 ) $ (156,950 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share As of September 30, 2021 2020 Warrants to purchase common stock 125,000 125,000 Stock options 26,126 66,126 Unvested restricted stock 159,524 206,775 Total dilutive securities 310,650 397,901 |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Company Preliminary Measurement | Schedule of Company Preliminary Measurement Goodwill $ 935,334 Intangible assets 427,999 $ 1,363,333 |
Capitalized Technology (Tables)
Capitalized Technology (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Research and Development [Abstract] | |
Schedule of Capitalized Technology | Capitalized Technology, net is as follows: Schedule of Capitalized Technology September 30, 2021 December 31, 2020 Capitalized cost: Balance, beginning of period $ 2,169,245 $ 2,169,245 Additional capitalized cost 49,970 - Balance, end of period $ 2,219,215 $ 2,169,245 Accumulated amortization: Balance, beginning of period $ 2,143,378 $ 2,130,037 Provision for amortization 28,407 13,341 Balance, end of period 2,171,785 2,143,378 Capitalized Technology, net $ 47,430 $ 25,867 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets | Intangible assets, net was as follows: Schedule of Intangible Assets Useful Lives Gross Carrying Accumulated Net Carrying September 30, 2021 (Years) Amount Amortization Amount Long-lived intangible assets: Sales Process 10 $ 2,130,956 $ (1,902,334 ) $ 228,622 Paid Member Relationships 5 803,472 (803,472 ) - Member Lists 5 8,086,181 (8,086,181 ) - Developed Technology 3 648,000 (648,000 ) - Trade Name/Trademarks 4 442,500 (440,000 ) 2,500 Contracts purchased Based on terms 935,683 - 935,683 13,046,792 (11,879,987 ) 1,166,805 Indefinite-lived intangible assets: Trade name 90,400 Intangible assets, net $ 1,257,205 Useful Lives Gross Carrying Accumulated Net Carrying December 31, 2020 (Years) Amount Amortization Amount Long-lived intangible assets: Sales Process 10 $ 2,130,956 $ (1,845,178 ) $ 285,778 Paid Member Relationships 5 803,472 (803,472 ) - Member Lists 5 8,086,181 (8,086,181 ) - Developed Technology 3 648,000 (648,000 ) - Trade Name/Trademarks 4 440,000 (440,000 ) - 12,108,609 (11,822,831 ) 285,778 Indefinite-lived intangible assets: Trade name 90,400 Intangible assets, net $ 376,178 |
Schedule of Future Annual Estimated Amortization Expense | As of September 30, 2021, estimated amortization expense in future fiscal years is summarized as follows: Schedule of Future Annual Estimated Amortization Expense Year ended December 31, Remaining of 2021 $ 288,872 2022 742,851 2023 76,832 2024 57,781 2025 469 Net Carrying Amount $ 1,166,805 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Stock Option Activity | The following table summarizes the Company’s stock option activity for the nine months ended September 30, 2021 and 2020: Schedule of Stock Option Activity Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Life Intrinsic Options Price (in Years) Value Outstanding - January 1, 2021 66,126 $ 5.24 8.3 $ Granted 30,000 2.10 9.7 Exercised - - - Forfeited (30,000 ) 3.69 - Outstanding - September 30 2021 66,126 $ 4.52 8.6 $ - Exercisable at September 30, 2021 36,126 $ 6.53 6.6 $ - Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Life Intrinsic Options Price (in Years) Value Outstanding - January 1, 2020 295,793 $ 8.88 7.5 $ Granted 30,000 3.69 9.7 Exercised - - - Forfeited (259,667 ) 9.21 - Outstanding - September 30, 2020 66,126 $ 5.24 8.6 $ - Exercisable at September 30, 2020 26,126 $ 8.18 4.2 $ - |
Schedule of Restricted Stock Award Activity | As of September 30, 2021 and 2020, the following is a summary of restricted stock activity: Schedule of Restricted Stock Award Activity Number of Shares Outstanding - January 1, 2021 233,875 Granted 59,524 Forfeited - Vested (133,875 ) Outstanding - September 30, 2021 159,524 Number of Shares Outstanding - January 1, 2020 27,319 Granted 306,775 Forfeited - Vested (127,319 ) Outstanding - September 30, 2020 206,775 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Segment Information | The following tables present key financial information related of the Company’s reportable segments related to financial position as of September 30, 2021 and December 31, 2020 and results of operations for the three and nine months ended September 30, 2021 and 2020: Schedule of Segment Information Network Network Overhead Consolidated Three Months Ended September 30, 2021 PDN Corporate Network Other Overhead Consolidated Membership fees and related services $ - $ 239,571 $ - $ 239,571 Recruitment services 1,368,440 - - 1,368,440 Products sales and other - 19,487 - 19,487 Consumer advertising and marketing solutions 55,517 - - 55,517 Total revenues 1,423,957 259,058 - 1,683,015 Income (loss) from continuing operations 692,356 (202,184 ) (582,674 ) (92,502 ) Depreciation and amortization 5,875 23,793 - 29,668 Income tax (benefit) expense 7,406 (2,276 ) (6,854 ) (1,724 ) Net loss from continuing operations 687,343 (199,909 ) (575,820 ) (88,385 ) As of September 30, 2021 Goodwill $ 339,451 $ 935,334 $ - $ 1,274,785 Intangibles assets, net 90,400 1,166,805 - 1,257,205 Assets from continuing operations 8,377,328 1,220,572 - 9,597,900 Network Network Overhead Consolidated Three Months Ended September 30, 2020 PDN Corporate Network Other Overhead Consolidated Membership fees and related services $ - $ 319,248 $ - $ 319,248 Recruitment services 930,330 - - 930,330 Products sales and other - 218 - 218 Consumer advertising and marketing solutions 55,726 - - 55,726 Total revenues 986,056 319,466 - 1,305,522 Loss from continuing operations 315,145 42,958 ) (1,278,685 ) (920,582 ) Depreciation and amortization 4,560 33,730 - 38,290 Income tax benefit 1,893 (28 ) (15,477 ) (13,612 ) Net loss from continuing operations 307,999 42,986 (1,263,208 ) (912,223 ) As of December 31, 2020 Goodwill $ 339,451 $ - $ - $ 339,451 Intangibles assets, net 90,400 323,881 - 414,281 Assets from continuing operations 2,103,830 1,197,336 - 3,301,166 Network Network Overhead Consolidated Nine Months Ended September 30, 2021 PDN Corporate Network Other Overhead Consolidated Membership fees and related services $ - $ 760,654 $ - $ 760,654 Recruitment services 3,695,205 - - 3,695,205 Products sales and other - 22,826 - 22,826 Consumer advertising and marketing solutions 149,347 - - 149,347 Total revenues 3,844,552 783,480 - 4,628,032 Income (loss) from continuing operations 1,298,391 (620,063 ) (2,135,833 ) (1,457,507 ) Depreciation and amortization 9,472 78,879 - 88,351 Income tax expense (benefit) 16,837 (8,011 ) (27,593 ) (18,767 ) Net income (loss) from continuing operations 1,286,681 (612,053 ) (2,108,240 ) (1,433,612 ) Network Network Overhead Consolidated Nine Months Ended September 30, 2020 PDN Corporate Network Other Overhead Consolidated Membership fees and related services $ - $ 1,056,487 $ - $ 1,056,487 Recruitment services 2,069,250 - - 2,069,250 Products sales and other - 3,548 - 3,548 Consumer advertising and marketing solutions 110,364 - - 110,364 Total revenues 2,179,614 1,060,035 - 3,239,649 Loss from continuing operations 82,595 (395,348 ) (3,835,946 ) (4,148,699 ) Depreciation and amortization 31,070 107,069 - 138,139 Income tax benefit 821 (2,636 ) (30,218 ) (32,033 ) Net loss from continuing operations 82,735 (392,712 ) (3,805,728 ) (4,115,705 ) |
Basis of Presentation and Des_2
Basis of Presentation and Description of Business (Details Narrative) | Sep. 30, 2021 |
P D N Inc [Member] | |
Ownership percentage | 45.62% |
Going Concern and Management__2
Going Concern and Management’s Plans (Details Narrative) - USD ($) | Oct. 30, 2021 | Sep. 22, 2021 | Jul. 09, 2021 | Feb. 02, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||||||
Retained Earnings (Accumulated Deficit) | $ 94,509,710 | $ 94,509,710 | $ 93,022,835 | ||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 88,385 | $ 912,223 | 1,433,612 | $ 4,115,705 | |||||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 1,159,745 | 2,768,495 | |||||||
Cash and Cash Equivalents, at Carrying Value | 4,092,473 | 4,092,473 | 2,117,569 | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,683,015 | $ 1,305,522 | 4,628,032 | $ 3,239,649 | |||||
[custom:WorkingCapitalDeficiency-0] | $ 1,019,410 | $ 1,019,410 | $ 1,156,000 | ||||||
Ms. Yiran Gu [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||||||
Sale of Stock, Number of Shares Issued in Transaction | 500,000 | ||||||||
Sale of Stock, Price Per Share | $ 2 | ||||||||
Proceed on sale of stock | $ 1,000,000 | ||||||||
Instutional Investors [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||||||
Sale of Stock, Number of Shares Issued in Transaction | 1,470,588 | ||||||||
Sale of Stock, Price Per Share | $ 0.01 | ||||||||
Proceed on sale of stock | $ 2,499,999.60 | ||||||||
Cosmic Forward Limited [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||||||
Sale of Stock, Number of Shares Issued in Transaction | 751,737 | 948,767 | |||||||
Sale of Stock, Price Per Share | $ 1.50 | $ 1.05 | |||||||
Proceed on sale of stock | $ 1,127,605 | $ 1,000,000 |
Schedule of Operating Results o
Schedule of Operating Results of Discontinued Operations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accounting Policies [Abstract] | ||||
Revenues | ||||
Cost of Sales | 9,788 | 3,828 | 30,305 | 18,971 |
Depreciation and amortization | 1,676 | |||
Sales and marketing | 82,120 | |||
General and administrative | 6,510 | 27,459 | 36,708 | 50,453 |
Non-operating expense | (5,585) | (1,823) | 4,787 | (3,730) |
Loss from discontinued operations before income tax | (10,713) | (29,464) | (71,800) | (156,950) |
Income tax expense (benefit) | ||||
Net loss from discontinued operations | $ (10,713) | $ (29,464) | $ (71,800) | $ (156,950) |
Schedule of Antidilutive Securi
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total dilutive securities | 310,650 | 397,901 |
Warrants To Purchase Common Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total dilutive securities | 125,000 | 125,000 |
Equity Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total dilutive securities | 26,126 | 66,126 |
Unvested Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total dilutive securities | 159,524 | 206,775 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) | Apr. 22, 2021USD ($) | Apr. 22, 2021CNY (¥) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Sep. 23, 2020ft² |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Accounts Receivable, Allowance for Credit Loss, Current | $ 112,000 | $ 112,000 | $ 157,000 | |||||
Incremental Direct Costs. | 33,000 | $ 26,000 | 102,000 | $ 78,000 | ||||
Depreciation | 6,000 | 18,000 | 24,000 | 69,000 | ||||
Area of Land | ft² | 4,902 | |||||||
Lessor, Operating Lease, Term of Contract | 84 months | |||||||
Sale of Stock, Consideration Received Per Transaction | ¥ | ¥ 1,884,106,415 | |||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 11,000 | 29,000 | 72,000 | 157,000 | ||||
Disposal Group, Including Discontinued Operation, Assets, Current | 4,600 | 4,600 | 6,898 | |||||
Disposal Group, Including Discontinued Operation, Assets, Noncurrent | 197,620 | 197,620 | 3,085,178 | |||||
Disposal Group, Including Discontinued Operation, Liabilities, Current | 407,374 | 407,374 | $ 375,276 | |||||
Marketing and Advertising Expense | 198,000 | $ 174,000 | 608,000 | $ 511,000 | ||||
Income Tax Examination, Penalties and Interest Accrued | $ 0 | $ 0 | ||||||
PDN China Account [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Sale of Stock, Consideration Received Per Transaction | $ 2,900,000 |
Schedule of Company Preliminary
Schedule of Company Preliminary Measurement (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Business Acquisition [Line Items] | ||
Goodwill | $ 1,274,785 | $ 339,451 |
Preliminary Measurement [Member] | ||
Business Acquisition [Line Items] | ||
Goodwill | 935,334 | |
Intangible assets | 427,999 | |
Business combination total | $ 1,363,333 |
Business Combinations (Details
Business Combinations (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 20, 2021 | |
Remote More U S A Inc [Member] | ||
Asset Acquisition [Line Items] | ||
Business combination total | $ 1,363,333 | |
Payments to Acquire Businesses, Gross in Cash | 863,333 | |
Business Combination, Transferred Amount | $ 500,000 | |
Remote More USA [Member] | ||
Asset Acquisition [Line Items] | ||
[custom:AssetAcquisitionSharesOutstandingPercentage-0] | 45.62% |
Revenue Recognition (Details Na
Revenue Recognition (Details Narrative) - USD ($) | 3 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Revenues: | ||
Deposit Contracts, Assets | $ 0 | |
Contract with Customer, Liability, Current | 2,003,510 | $ 1,901,129 |
Contract with Customer, Liability, Revenue Recognized | $ 1,068,000 |
Schedule of Capitalized Technol
Schedule of Capitalized Technology (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Research and Development [Abstract] | |||
Balance, end of period | $ 2,219,215 | $ 2,169,245 | $ 2,169,245 |
Additional capitalized cost | 49,970 | ||
Capitalized Computer Software, Accumulated Amortization | 2,171,785 | 2,143,378 | $ 2,130,037 |
Provision for amortization | 28,407 | 13,341 | |
Capitalized Technology, net | $ 47,430 | $ 25,867 |
Capitalized Technology (Details
Capitalized Technology (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Research and Development [Abstract] | ||||
Amortization | $ 9,500 | $ 1,770 | $ 28,400 | $ 12,000 |
Schedule of Intangible Assets (
Schedule of Intangible Assets (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 13,046,792 | $ 12,108,609 |
Accumulated Amortization | (11,879,987) | (11,822,831) |
Net Carrying Amount | 1,166,805 | 285,778 |
Indefinite-lived intangible assets: Trade name | 90,400 | 90,400 |
Intangible assets, net | $ 1,257,205 | $ 376,178 |
Sales Process [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | 10 years |
Gross Carrying Amount | $ 2,130,956 | $ 2,130,956 |
Accumulated Amortization | (1,902,334) | (1,845,178) |
Net Carrying Amount | $ 228,622 | $ 285,778 |
Paid Member Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 5 years | 5 years |
Gross Carrying Amount | $ 803,472 | $ 803,472 |
Accumulated Amortization | (803,472) | (803,472) |
Net Carrying Amount | ||
Customer Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 5 years | 5 years |
Gross Carrying Amount | $ 8,086,181 | $ 8,086,181 |
Accumulated Amortization | (8,086,181) | (8,086,181) |
Net Carrying Amount | ||
Developed Technology Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 3 years | 3 years |
Gross Carrying Amount | $ 648,000 | $ 648,000 |
Accumulated Amortization | (648,000) | (648,000) |
Net Carrying Amount | ||
Trademarks and Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 4 years | 4 years |
Gross Carrying Amount | $ 442,500 | $ 440,000 |
Accumulated Amortization | (440,000) | (440,000) |
Net Carrying Amount | 2,500 | |
Contracts Purchased [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 935,683 | |
Accumulated Amortization | ||
Net Carrying Amount | $ 935,683 |
Schedule of Future Annual Estim
Schedule of Future Annual Estimated Amortization Expense (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Remaining of 2021 | $ 288,872 | |
2022 | 742,851 | |
2023 | 76,832 | |
2024 | 57,781 | |
2025 | 469 | |
Net Carrying Amount | $ 1,166,805 | $ 285,778 |
Intangible Assets (Details Narr
Intangible Assets (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Amortization of Intangible Assets | $ 19,000 | $ 19,000 | $ 57,000 | $ 57,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - USD ($) | Feb. 16, 2021 | Oct. 29, 2020 | Oct. 12, 2017 | Jan. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Loss Contingencies [Line Items] | |||||||
Operating Lease, Right-of-Use Asset | $ 442,575 | $ 487,677 | |||||
Operating Lease, Liability, Current | 92,164 | $ 46,526 | |||||
Estimated Litigation Liability, Current | $ 450,000 | ||||||
N A P W Case [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimated Litigation Liability, Current | 855,002 | ||||||
PDN China's Bank [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Bank balance | $ 195,000,000 | ||||||
White Winston [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss Contingency, Damages Sought, Value | $ 2,000,000 | ||||||
Stock Issued During Period, Shares, New Issues | 150,000 | ||||||
White Winston [Member] | Settlement Agreement [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Debt Instrument, Periodic Payment | $ 350,000 | $ 250,000 | |||||
Stock Issued During Period, Shares, New Issues | 150,000 |
CFL Transaction (Details Narrat
CFL Transaction (Details Narrative) - USD ($) | Oct. 30, 2021 | Sep. 22, 2021 | Nov. 15, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Aug. 12, 2016 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | ||||
Cosmic Forward Limited [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Sale of Stock, Number of Shares Issued in Transaction | 751,737 | 948,767 | ||||
Sale of Stock, Price Per Share | $ 1.50 | $ 1.05 | ||||
Sale of Stock, Consideration Received on Transaction | $ 1,127,605 | $ 1,000,000 | ||||
Stock ownership, percentage | 32.00% | 27.40% | ||||
Stock Purchase Agreement [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | |||||
Percentage Of Common Stock Held By Investors | 51.00% |
Stockholders_ Equity (Details N
Stockholders’ Equity (Details Narrative) - USD ($) | Oct. 30, 2021 | Sep. 22, 2021 | Jul. 09, 2021 | Feb. 02, 2021 | Jan. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Class of Stock [Line Items] | |||||||
Preferred Stock, Shares Undesignated | 1,000,000 | ||||||
Common Stock, Shares Authorized | 45,000,000 | ||||||
Common Stock, Shares, Outstanding | 16,017,204 | 12,819,843 | |||||
Ms. Yiran Gu [Member] | |||||||
Class of Stock [Line Items] | |||||||
Sale of Stock, Number of Shares Issued in Transaction | 500,000 | ||||||
Sale of Stock, Price Per Share | $ 2 | ||||||
Proceed on sale of stock | $ 1,000,000 | ||||||
Instutional Investors [Member] | |||||||
Class of Stock [Line Items] | |||||||
Sale of Stock, Number of Shares Issued in Transaction | 1,470,588 | ||||||
Sale of Stock, Price Per Share | $ 0.01 | ||||||
Proceed on sale of stock | $ 2,499,999.60 | ||||||
Institutional Investors [Member] | |||||||
Class of Stock [Line Items] | |||||||
Sale of Stock, Price Per Share | $ 1.70 | ||||||
Cosmic Forward Limited [Member] | |||||||
Class of Stock [Line Items] | |||||||
Sale of Stock, Number of Shares Issued in Transaction | 751,737 | 948,767 | |||||
Sale of Stock, Price Per Share | $ 1.50 | $ 1.05 | |||||
Proceed on sale of stock | $ 1,127,605 | $ 1,000,000 | |||||
White Winston [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 150,000 | ||||||
Settlement Agreement [Member] | White Winston [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 150,000 | ||||||
One Class [Member] | |||||||
Class of Stock [Line Items] | |||||||
Common Stock, Shares Authorized | 45,000,000 | ||||||
Common Stock, Shares, Outstanding | 16,018,252 |
Schedule of Stock Option Activi
Schedule of Stock Option Activity (Details) - USD ($) | 9 Months Ended | ||||
Sep. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |||||
Number of Options, Outstanding, Ending balance | 66,126 | 66,126 | 66,126 | 295,793 | |
Weighted Average Exercise Price, Outstanding, Ending balance | $ 4.52 | $ 5.24 | $ 5.24 | $ 8.88 | |
Weighted Average Remaining Contractual Term Outstanding | 8 years 3 months 18 days | 7 years 6 months | |||
Aggregrate Intrinsic Value, Outstanding balance | |||||
Number of Options, Granted | 30,000 | 30,000 | |||
Weighted Average Exercise Price, Granted | $ 2.10 | $ 3.69 | |||
Weighted Average Remaining Contractual Term Granted | 9 years 8 months 12 days | 9 years 8 months 12 days | |||
Number of Options, Exercised | |||||
Weighted Average Exercise Price, Exercised | |||||
Number of Options, Forfeited | (30,000) | (259,667) | |||
Weighted Average Exercise Price, Forfeited | $ 3.69 | $ 9.21 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 7 months 6 days | 8 years 7 months 6 days | |||
Number of Options, Exercisable, Ending balance | 36,126 | 26,126 | |||
Weighted Average Exercise Price, Exercisable, Ending balance | $ 6.53 | $ 8.18 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 6 years 7 months 6 days | 4 years 2 months 12 days | |||
Aggregrate Intrinsic Value, Exercisable balance |
Schedule of Restricted Stock Aw
Schedule of Restricted Stock Award Activity (Details) - Restricted Stock Units (RSUs) [Member] - shares | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Shares Unvested, Outstanding, Ending balance | 159,524 | 206,775 | 233,875 | 27,319 |
Number of Shares Unvested, Granted | 59,524 | 306,775 | ||
Number of Shares Unvested, Forfeited | ||||
Number of Shares Unvested, Vested | (133,875) | (127,319) |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details Narrative) - USD ($) | Sep. 30, 2021 | Jun. 14, 2021 | Dec. 31, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 0 | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 0 | ||
Warrant [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Class of Warrant or Right, Outstanding | 125,000 | 125,000 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 20 | $ 20 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 0 | ||
Warrants and Rights Outstanding, Maturity Date | Dec. 30, 2021 | ||
Amended 2013 Equity Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,500,000 | 585,000 | |
Minimum [Member] | 2013 Equity Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 225,000 | ||
Maximum [Member] | 2013 Equity Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 915,000 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | ||||
Income Tax Expense (Benefit) | $ 1,724 | $ 13,612 | $ 18,767 | $ 32,033 |
Valuation allowance | $ 8,951,000 | 8,951,000 | ||
Change in Deferred Tax Assets Valuation Allowance, Amount | $ 313,000 |
Schedule of Segment Information
Schedule of Segment Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||||
Total revenues | $ 1,683,015 | $ 1,305,522 | $ 4,628,032 | $ 3,239,649 | |
Loss from continuing operations | (92,502) | (920,582) | (1,457,507) | (4,148,699) | |
Depreciation and amortization | 29,668 | 38,290 | 88,351 | 138,139 | |
Income tax benefit | (1,724) | (13,612) | (18,767) | (32,033) | |
Net loss from continuing operations | (88,385) | (912,223) | (1,433,612) | (4,115,705) | |
Goodwill | 1,274,785 | 1,274,785 | $ 339,451 | ||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 1,257,205 | 1,257,205 | 414,281 | ||
[custom:AssetsFromContinuingOperations-0] | 9,597,900 | 9,597,900 | 3,301,166 | ||
Membership Fees And Related Services [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 239,571 | 319,248 | 760,654 | 1,056,487 | |
Recruitment Services [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 1,368,440 | 930,330 | 3,695,205 | 2,069,250 | |
Product Sales And Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 19,487 | 218 | 22,826 | 3,548 | |
Consumer Advertising And Marketing Solutions [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 55,517 | 55,726 | 149,347 | 110,364 | |
Professional Diversity Network [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 1,423,957 | 986,056 | 3,844,552 | 2,179,614 | |
Loss from continuing operations | 692,356 | 315,145 | 1,298,391 | 82,595 | |
Depreciation and amortization | 5,875 | 4,560 | 9,472 | 31,070 | |
Income tax benefit | 7,406 | 1,893 | 16,837 | 821 | |
Net loss from continuing operations | 687,343 | 307,999 | 1,286,681 | 82,735 | |
Goodwill | 339,451 | 339,451 | 339,451 | ||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 90,400 | 90,400 | 90,400 | ||
[custom:AssetsFromContinuingOperations-0] | 8,377,328 | 8,377,328 | 2,103,830 | ||
Professional Diversity Network [Member] | Membership Fees And Related Services [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | |||||
Professional Diversity Network [Member] | Recruitment Services [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 1,368,440 | 930,330 | 3,695,205 | 2,069,250 | |
Professional Diversity Network [Member] | Product Sales And Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | |||||
Professional Diversity Network [Member] | Consumer Advertising And Marketing Solutions [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 55,517 | 55,726 | 149,347 | 110,364 | |
Other Network [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 259,058 | 319,466 | 783,480 | 1,060,035 | |
Loss from continuing operations | (202,184) | 42,958 | (620,063) | (395,348) | |
Depreciation and amortization | 23,793 | 33,730 | 78,879 | 107,069 | |
Income tax benefit | (2,276) | (28) | (8,011) | (2,636) | |
Net loss from continuing operations | (199,909) | 42,986 | (612,053) | (392,712) | |
Goodwill | 935,334 | 935,334 | |||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 1,166,805 | 1,166,805 | 323,881 | ||
[custom:AssetsFromContinuingOperations-0] | 1,220,572 | 1,220,572 | 1,197,336 | ||
Other Network [Member] | Membership Fees And Related Services [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 239,571 | 319,248 | 760,654 | 1,056,487 | |
Other Network [Member] | Recruitment Services [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | |||||
Other Network [Member] | Product Sales And Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 19,487 | 218 | 22,826 | 3,548 | |
Other Network [Member] | Consumer Advertising And Marketing Solutions [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | |||||
Corporate Overhead [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | |||||
Loss from continuing operations | (582,674) | (1,278,685) | (2,135,833) | (3,835,946) | |
Depreciation and amortization | |||||
Income tax benefit | (6,854) | (15,477) | (27,593) | (30,218) | |
Net loss from continuing operations | (575,820) | (1,263,208) | (2,108,240) | (3,805,728) | |
Goodwill | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill) | |||||
[custom:AssetsFromContinuingOperations-0] | |||||
Corporate Overhead [Member] | Membership Fees And Related Services [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | |||||
Corporate Overhead [Member] | Recruitment Services [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | |||||
Corporate Overhead [Member] | Product Sales And Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | |||||
Corporate Overhead [Member] | Consumer Advertising And Marketing Solutions [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues |