Annual report pursuant to Section 13 and 15(d)

Note 21 - Business and Geographic Segment Information (Tables)

v3.5.0.2
Note 21 - Business and Geographic Segment Information (Tables)
12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block] Segment information relating to the Company’s results of operations was as follows for the periods indicated:

 
 
For the Years Ended
 
Revenues
 
December 31, 2015 (Audited)
   
December 31, 2014 (Audited)
 
 
           
CMS
 
$
11,229,654
   
$
6,863,959
 
IT Staffing
   
1,560,238
     
4,933,854
 
Total
 
$
12,789,892
   
$
11,797,813
 
 
 
For the Years Ended
 
Gross Margin
 
December 31, 2015 (Audited)
   
December 31, 2014 (Audited)
 
 
           
CMS
 
$
4,737,208
   
$
3,243,563
 
IT Staffing
   
324,440
     
1,128,393
 
Total
 
$
5,061,648
   
$
4,371,956
 
 
 
For the Years Ended
 
 
Business Segment Performance
 
December 31, 2015 (Audited)
   
December 31, 2014 (Audited)
 
 
           
CMS
 
$
(4, 267,719
)
 
$
813,722
 
IT Staffing
   
(406, 759
)
   
(237,499
)
Total
 
$
(4, 674,478
)
 
$
576,223
 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]
 
 
For the Years Ended
 
Net (Loss) Income
 
December 31, 2015 (Audited)
   
December 31, 2014 (Audited)
 
Business Segment Performance
 
$
(4, 674,478
)
 
$
576,223
 
Interest expense, net
   
(281,411
)
   
(147,069
)
Depreciation and amortization
   
(564,839
)
   
(82,342
)
Income tax benefit
   
451,858
     
161,255
 
Stock Based Compensation to Employees and Board of Directors
   
(1, 424,672
)
   
-
 
Compensation expense of former principals of acquired companies
   
(250,000
)
   
-
 
Acquisition related expenses
   
(169,191
)
   
-
 
One-time Professional and Legal fees
   
( 911,456
)
   
-
 
Loss on debt extinguishment
   
-
     
(57,502
)
Loss on derivative liability
   
(9,292, 720
)
   
-
 
Other income
   
5,619
     
20,000
 
Net (loss) income
 
$
( 17,111,290
)
 
$
470,565