Annual report pursuant to Section 13 and 15(d)

Segment Information and Geographic Areas

v3.21.2
Segment Information and Geographic Areas
 12 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment Information and Geographic Areas

NOTE 21 – SEGMENT INFORMATION AND GEOGRAPHIC AREAS

 

The Company has identified three segments for its products and services; North America, Europe and Asia-Pacific. The reportable segments are business units located in different global regions. Each business unit provides similar products and services; license fees for leasing and asset-based software, related post contract support fees, and implementation and IT consulting services. Separate management of each segment is required because each business unit is subject to different operational issues and strategies due to their particular regional location. The Company accounts for intra-company sales and expenses as if the sales or expenses were to third parties and eliminates them in the consolidation.

 

The following table presents a summary of identifiable assets as of June 30, 2021 and 2020:

 

    As of     As of  
    June 30, 2021     June 30, 2020  
Identifiable assets:            
Corporate headquarters   $ 2,067,474     $ 4,508,724  
North America     6,073,616       5,949,653  
Europe     10,363,611       10,856,814  
Asia - Pacific     68,101,560       67,157,898  
Consolidated   $ 86,606,261     $ 88,473,089  

 

The following table presents a summary of investments under the equity method as of June 30, 2021 and 2020:

 

    As of     As of  
    June 30, 2021     June 30, 2020  
Investment in associates under equity method:                
Corporate headquarters   $ 396,403     $ 473,692  
Asia - Pacific     2,759,449       1,914,000  
Consolidated   $ 3,155,852     $ 2,387,692  

 

The following table presents a summary of operating information for the years ended June 30:

 

    For the Years  
    Ended June 30,  
    2021     2020  
Revenues from unaffiliated customers:                
North America   $ 3,724,547     $ 4,444,862  
Europe     11,283,499       11,914,071  
Asia - Pacific     39,863,794       39,712,565  
      54,871,840       56,071,498  
Revenue from affiliated customers                
Asia - Pacific     48,775       300,821  
      48,775       300,821  
Consolidated   $ 54,920,615     $ 56,372,319  
                 
Intercompany revenue                
Europe   $ 549,031     $ 585,250  
Asia - Pacific     11,678,429       7,045,640  
Eliminated   $ 12,227,460     $ 7,630,890  
                 
Net income (loss) after taxes and before non-controlling interest:                
Corporate headquarters   $ 1,992,218     $ (408,016 )
North America     (161,198 )     (241,444 )
Europe     (74,146 )     1,766,434  
Asia - Pacific     504,758       75,049  
Consolidated   $ 2,261,632     $ 1,192,023  
                 
Depreciation and amortization:                
North America   $ 4,310     $ 11,828  
Europe     465,825       353,862  
Asia - Pacific     3,486,179       3,366,264  
Consolidated   $ 3,956,314     $ 3,731,954  
                 
Interest expense:                
Corporate headquarters   $ 17,418     $ 33,710  
Europe     11,426       9,905  
Asia - Pacific     365,445       303,241  
Consolidated   $ 394,289     $ 346,856  
                 
Income tax expense:                
Corporate headquarters   $ 69,350     $ 1,075  
North America     44,604       1,200  
Europe     190,730       326,524  
Asia - Pacific     721,933       812,269  
Consolidated   $ 1,026,617     $ 1,141,068  

 

 

The following table presents a summary of capital expenditures for the years ended June 30:

 

    For the Years  
    Ended June 30,  
    2021     2020  
Capital expenditures:                
North America   $ 1,521     $ 3,904  
Europe     441,672       763,308  
Asia - Pacific     2,108,090       609,933  
Consolidated   $ 2,551,283     $ 1,377,145  

 

Geographic Information

 

Disclosed in the table below is geographic information for each country that comprised greater than five percent of total revenues for the years ended June 30, 2021 and 2020.

 

    June 30, 2021     June 30, 2020  
    Revenue     Long-lived Assets     Revenue     Long-lived Assets  
                         
China   $ 22,716,598     $ 509,935     $ 20,065,572     $ 843,694  
Thailand     4,518,145       2,033,628       3,807,648       900,514  
USA     2,691,811       5,440,078       3,457,676       5,689,067  
UK     11,283,500       5,217,594       12,275,903       5,528,801  
Pakistan & India     1,478,071       17,618,325       2,008,907       19,103,687  
Australia & New Zealand     4,771,216       207,927       3,149,715       261,615  
Mexico     1,032,736       -       987,190       -  
Indonesia     3,221,342       -       5,611,454       -  
South Africa     924,316       -       496,480       -  
Other Countries     2,282,880       -       4,511,774       -  
Total   $ 54,920,615     $ 31,027,487     $ 56,372,319     $ 32,327,378  

 

Disclosed in the table below is the geographic information of total revenues by country for the years ended June 30, 2021 and 2020.

 

    Revenues 2021  
    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     Other Countries  
                                                                   
North America:   $ 3,724,547     $ -     $ -     $ 2,691,811     $ -     $ -     $ -     $ 1,032,736     $ -     $ -     $ -  
Europe:     11,283,500       -       -       -       11,283,500       -       -       -       -       -       -  
Asia-Pacific:     39,912,568       22,716,598       4,518,145       -       -       1,478,071       4,771,216       -       3,221,342       924,316       2,282,880  
                                                                                         
Total   $ 54,920,615     $ 22,716,598     $ 4,518,145     $ 2,691,811     $ 11,283,500     $ 1,478,071     $ 4,771,216     $ 1,032,736     $ 3,221,342     $ 924,316     $ 2,282,880  

 

    Revenues 2020  
    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     Other Countries  
                                                                   
North America:   $ 4,444,863     $ -     $ -     $ 3,457,673     $ -     $ -     $ -     $ 987,190     $ -     $ -     $ -  
Europe:     11,914,070       -       -       -       11,914,070       -       -       -       -       -       -  
Asia-Pacific:     40,013,386       20,065,572       3,807,648       -       361,833       2,008,910       3,149,715       -       5,611,454       496,480       4,511,774  
                                                                                         
Total   $ 56,372,319     $ 20,065,572     $ 3,807,648     $ 3,457,673     $ 12,275,903     $ 2,008,910     $ 3,149,715     $ 987,190     $ 5,611,454     $ 496,480     $ 4,511,774