Professional Diversity Network (IPDN) 10-Q 14 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 13, 2020
Cover [Abstract]
Entity Registrant Name	Professional Diversity Network, Inc.
Entity Central Index Key	0001546296
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,819,843
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 858,875	$ 633,615
Accounts receivable, net	453,112	720,750
Incremental direct costs	16,876	33,258
Prepaid expense and other current assets	365,640	240,763
Current assets from discontinued operations	3,940	75,996
Total current assets	1,698,443	1,704,382
Property and equipment, net	8,546	21,188
Capitalized technology, net	54,177	95,884
Goodwill	339,451	339,451
Intangible assets, net	414,281	452,385
Right-of-use assets	14,326	93,251
Merchant reserve	760,849	760,849
Security deposits	15,033	15,033
Long-term assets from discontinued operations	2,846,658	3,109,200
Total assets	6,151,764	6,591,623
Current Liabilities:
Accounts payable	856,976	796,137
Accrued expenses	1,633,789	654,169
Deferred revenue	1,321,125	1,699,001
Short-term loan	162,770
Lease liability, current portion	16,016	105,083
Current liabilities from discontinued operations	323,276	564,044
Total current liabilities	4,313,952	3,818,434
Long-term loan	488,308
Deferred tax liability	202,833	221,254
Total liabilities	5,005,093	4,039,688
Commitments and contingencies
Stockholders' Equity
Common stock, $0.01 par value; 45,000,000 shares authorized, 11,339,407 shares and 8,928,611 shares issued as of June 30, 2020 and December 31, 2019, and 11,338,359 and 8,927,563 shares outstanding as of June 30, 2020 and December 31, 2019	113,384	89,286
Additional paid in capital	93,000,285	91,126,784
Accumulated other comprehensive income	72,347	44,242
Accumulated deficit	(92,002,228)	(88,671,260)
Treasury stock, at cost; 1,048 shares at June 30, 2020 and December 31, 2019	(37,117)	(37,117)
Total stockholders' equity	1,146,671	2,551,935
Total liabilities and stockholders' equity	$ 6,151,764	$ 6,591,623

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	11,339,407	8,928,611
Common stock, shares outstanding	11,338,359	8,927,563
Treasury stock, shares	1,048	1,048

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Total revenues	$ 951,830	$ 1,324,162	$ 1,934,127	$ 2,631,489
Costs and expenses:
Cost of revenues	169,920	226,925	343,397	410,584
Sales and marketing	459,106	469,377	984,075	1,165,144
General and administrative	2,074,069	1,174,289	3,734,923	2,252,189
Depreciation and amortization	47,848	217,334	99,849	434,517
Total costs and expenses	2,750,943	2,087,925	5,162,244	4,262,434
Loss from continuing operations	(1,799,113)	(763,763)	(3,228,117)	(1,630,945)
Other income (expense)
Interest expense		(11,599)		(14,182)
Interest and other income	5,550	376,068	6,214	376,068
Other income (expense), net	5,550	364,469	6,214	361,886
Loss before income tax benefit	(1,793,563)	(399,294)	(3,221,903)	(1,269,059)
Income tax benefit	(12,512)	(10,236)	(18,421)	(75,869)
Loss from continuing operations	(1,781,051)	(389,058)	(3,203,482)	(1,193,190)
Loss from discontinued operations	(57,821)	(382,176)	(127,486)	(737,413)
Net loss	(1,838,872)	(771,234)	(3,330,968)	(1,930,603)
Other comprehensive loss:
Net loss	(1,838,872)	(771,234)	(3,330,968)	(1,930,603)
Foreign currency translation adjustment	(11,768)	(9,349)	28,105	13,686
Comprehensive loss:	$ (1,850,640)	$ (780,583)	$ (3,302,863)	$ (1,916,917)
Basic and diluted loss per share:
Continuing operations	$ (0.16)	$ (0.08)	$ (0.32)	$ (0.23)
Discontinued operations	(0.01)	(0.08)	(0.01)	(0.14)
Net loss	$ (0.17)	$ (0.16)	$ (0.33)	$ (0.37)
Weighted average outstanding shares used in computing net loss per common share:
Basic and diluted	10,933,614	5,074,480	9,951,759	5,117,098
Membership Fees and Related Services [Member]
Revenues:
Total revenues	$ 353,408	$ 633,914	$ 737,239	$ 1,428,453
Recruitment Services [Member]
Revenues:
Total revenues	572,233	651,046	1,138,920	1,125,306
Products Sales and Other [Member]
Revenues:
Total revenues	1,899	1,143	3,330	3,955
Consumer Advertising and Marketing Solutions [Member]
Revenues:
Total revenues	$ 24,290	$ 38,059	$ 54,638	$ 73,775

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Loss from continuing operations	$ (3,203,482)	$ (1,193,190)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities - continuing operations:
Depreciation and amortization	99,849	434,517
Deferred tax benefit	(18,421)	(77,444)
Amortization of right-of-use asset	78,925	75,271
Accretion of lease liability	2,217	5,872
Stock-based compensation expense	397,599	98,689
Litigation settlement reserve	708,422
Write-off of accounts payable		(375,997)
Write-off of property and equipment		1,385
Recovery of bad debt expense		(2,025)
Payment of lease obligations	(91,284)	(88,421)
Changes in operating assets and liabilities, net of effects of discontinued operations:
Accounts receivable	267,638	386,898
Prepaid expenses and other current assets	(124,877)	29,685
Incremental direct costs	16,382	(20,345)
Accounts payable	60,839	(224,536)
Accrued expenses	271,198	(99,631)
Deferred revenue	(377,876)	(432,597)
Net cash used in operating activities - continuing operations	(1,912,871)	(1,481,869)
Net cash provided by operating actvities - discontinued operations	44,178	406,414
Net cash used in operating activities	(1,868,693)	(1,075,455)
Cash flows from investing activities:
Costs incurred to develop technology	(3,701)	(2,500)
Purchases of property and equipment	(3,695)
Net cash used in investing activities - continuing operations	(7,396)	(2,500)
Net cash used in investing actvities - discontinued operations
Net cash provided used in investing activities	(7,396)	(2,500)
Cash flows from financing activities:
Proceeds from the sale of common stock	1,500,000	1,597,815
Proceeds from short-term loan	651,078
Proceeds from short-term loan - related party		400,000
Repayment from short-term loan - related party		(200,000)
Repayment of note payable - related party		(292,882)
Proceeds from line of credit - related party		292,882
Net cash provided by financing activities - continuing operations	2,151,078	1,797,815
Net cash provided by (used in) financing actvities - discontinued operations
Net cash provided by financing activities	2,151,078	1,797,815
Effect of exchange rate fluctuations on cash and cash equivalents	(49,729)	13,686
Net increase in cash and cash equivalents	225,260	733,546
Cash, cash equivalents, beginning of period	633,615	105,670
Cash and cash equivalents, end of period	858,875	839,216
Supplemental disclosures of other cash flow information:
Cash paid for income taxes		$ 8,594

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning balance at Dec. 31, 2018	$ 48,562	$ 83,728,903	$ (84,826,796)	$ (37,117)	$ (24,340)	$ (1,110,788)
Beginning balance, shares at Dec. 31, 2018	4,856,213			1,048
Sale of common stock	$ 7,370	1,590,445				1,597,815
Sale of common stock, shares	737,031
Conversion of note payable - related party	$ 2,092	497,908				500,000
Conversion of note payable - related party, shares	209,205
Issuance of common stock for settlement of acounts payable	$ 306	98,664				98,970
Issuance of common stock for settlement of acounts payable, shares	30,640
Issuance of vested restricted shares	$ 278	(278)
Issuance of vested restricted shares, shares	27,761
Share-based compensation		98,689				98,689
Translation adjustments					13,686	13,686
Net loss			(1,930,603)			(1,930,603)
Ending balance at Jun. 30, 2019	$ 58,608	86,014,331	(86,757,399)	$ (37,117)	(10,654)	(732,231)
Ending balance, shares at Jun. 30, 2019	5,860,850			1,048
Beginning balance at Dec. 31, 2019	$ 89,286	91,126,784	(88,671,260)	$ (37,117)	44,242	2,551,935
Beginning balance, shares at Dec. 31, 2019	8,928,611			1,048
Sale of common stock	$ 22,518	1,477,482				1,500,000
Sale of common stock, shares	2,251,737
Issuance of vested restricted shares	$ 1,580	(1,580)
Issuance of vested restricted shares, shares	158,011
Share-based compensation		397,599				397,599
Translation adjustments					28,105	28,105
Net loss			(3,330,968)			(3,330,968)
Ending balance at Jun. 30, 2020	$ 113,384	$ 93,000,285	$ (92,002,228)	$ (37,117)	$ 72,347	$ 1,146,671
Ending balance, shares at Jun. 30, 2020	11,338,359			1,048

Basis of Presentation and Descr

Basis of Presentation and Description of Business	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [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 consolidated financial statements and notes thereto included in our 2019 Form 10-K. Professional Diversity Network, 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 and Transgender (LGBT), 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. The NAPW Network is 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. In March 2020, our Board 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	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern and Management's Plans	2. Going Concern and Management’s Plans At June 30, 2020, 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 six months ended June 30, 2020. The Company had an accumulated deficit of ($92,002,228) at June 30, 2020. During the three and six months ended June 30, 2020, the Company generated a net loss from continuing operations of ($1,781,051) and ($3,203,482), and used cash in continuing operations for the six months of $1,912,871. At June 30, 2020, the Company had a cash balance of $858,875. Total revenues were approximately $952,000 and $1,934,000 for the three and six months ended June 30, 2020. The Company had a working capital deficiency from continuing operations of approximately ($2,616,000) and ($2,114,000) at June 30, 2020 and December 31, 2019. These conditions raise substantial doubt about the Company’s 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 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 next twelve months. 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 or impact plans to conserve liquidity. Future efforts to improve liquidity through the issuance of our common stock may not be successful, or if available, they may not be negotiable on acceptable terms. On June 26, 2020, the Company entered into an agreement with an existing investor, Malven Group Limited, in connection with the purchase of 312,500 shares of common stock of the Company at a price of $3.20 per share for gross proceeds of $1,000,000. The closing date of the transaction was June 29, 2020 and the gross proceeds of $1,000,000 were received in July 2020. On July 27, 2020, the Company entered into a Securities Purchase Agreement (the “Agreement”) with three institutional accredited investors. Pursuant to the Agreement, the Company offered and sold 1,481,484 shares of its common stock at a per share price of $1.35 for gross proceeds of approximately $2,000,000 pursuant to the Company’s Registration Statement on Form S-3 (Registration Statement No. 333-227249) (the “Transaction”). The Transaction closed on July 29, 2020 and the Company received net proceeds of $1,814,353, after deducting financial advisory, legal and escrow related fees.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Principles of Consolidation - Use of 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. Cash Equivalents - Accounts Receivable - Incremental Direct Costs PDN Network sales commission agency commission over service capitalized Property and Equipment - Capitalized Technology Costs - Business Combinations - 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 Revenue Recognition – Membership Fees and Related Services Membership fees 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. We also offer a monthly membership for which we collect fees on a monthly basis and we recognize revenue in the same month as we collect the monthly fees. 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. Deferred Revenue – 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 month that the event takes place and e-commerce sales are for one-month job postings and the revenue from those sales are recognized in the month the sale is made. Our 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 and over 20 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 ● 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 consolidated statements of operations. Education and Training The Company works with its business partners to provide education and training seminars to business people in China. Revenues are recognized in the month when the seminar takes place. 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. The Company’s partner organizations include NAACP and National Urban League,VetJobs, among others. Discontinued Operations China Operations On November 25, 2019, PDN China received a Seizure Decision Notice (the “Notice”) from the Yuexiu District Branch of the Police Department of Guangzhou City, the People’s Republic of China. The Notice stated that it is necessary to seize the assets of PDN China 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 (“Michael Wang”) is affiliated, who was subsequently held in custody by the local police department. In response to such events, on December 12, 2019 the Company’s Board of Directors (the “Board”) established the Special Committee to investigate the situation, and ‎retained the international law firm of King & Wood Mallesons (“KWM”) to assist the Special Committee in connection with the Special Committee’s investigation of the Company’s operations in the People’s Republic of China and related events, ‎ in collaboration with the Company’s external auditor Ciro E. Adams CPA LLC. KWM conducted extensive research into public records in China, and interviewed the relevant divisions of the Public Security Bureau in China and any related witnesses in relation to the operations and specific transactions that had some relationship to the Gatewang entities. On April 16, 2020, based upon the information obtained, the investigation team concluded that it did not find any evidence that the Company or PDN China engaged in any criminal activity of illegal fund raising as alleged against Gatewang. The Investigation also revealed that three entities and two ‎individuals (the “Payors”), who appeared to be related to Gatewang, collectively paid RMB 14.25 million to PDN China on behalf of ‎EGBT Foundation Ltd., a private placement investor that purchased ‎1,265,823 shares of the Company’s common stock (approximately 11.6%) in September 2019 (the “EGBT Transaction”)‎. To the knowledge of the Investigation team, the bank account holding the proceeds of ‎the EGBT Transaction is still frozen by the Chinese authorities. The seizure of PDN ‎China office by the local police was lifted on March 23, 2020. These funds, approximately $2.89 million dollars (USD) continue to be subject to the PRC government’s jurisdiction. If the source of funds is actually (or perceived to be) connected to Gatewang, the Chinese authorities may not unfreeze PDN China’s bank account. If and when the bank account is unfrozen, the Company will consider whether the EGBT Transaction needs to be unwound or further documented to be in full compliance with applicable law. The Company’s operations in China have been suspended since December 2019. On March 4, 2020 the Board decided to discontinue all of the Company’s operations in the People’s Republic of China, namely PDN (China) International Culture Development Co. Ltd.‎, a wholly owned subsidiary of ‎the Company, Jiangxi PDN Culture Media Co., Ltd. (“PDN Jiangxi”), a variable interest entity ‎‎controlled by of the Company‎, and the joint venture between PDN Jiangxi, Guangzhou ‎Zengcheng District Zhili Education ‎Training Center, and Guangzhou Angye Education ‎Consulting Co. Ltd.‎ 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 six months ended June 30, 2020, loss from discontinued operations was approximately ($58,000) and ($127,000), compared to a loss from discontinued operations of ($382,000) and ($737,000) for the three and six months ended June 30, 2019. 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. As of June 30, 2020, current assets from discontinued operations were approximately $4,000, compared to approximately $76,000 as of December 31, 2019, and long-term assets from discontinued operations were approximately $2,847,000 at June 30, 2020, compared to approximately $3,109,000 as of December 31, 2019. As of June 30, 2020, current liabilities from discontinued operations were approximately $323,000, compared to approximately $564,000 as of December 31, 2019. Operating Results of Discontinued Operations The following table represents the components of operating results from discontinued operations, as presented in the statements of operations and comprehensive loss for the three and six months ended June 30, 2020 and 2019: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Revenues $ - $ 2,305 $ - $ 41,483 Cost of Sales 7,787 13,027 15,143 29,625 Depreciation and amortization 1,676 4,207 1,676 8,446 Sales and marketing 80,425 69,424 105,114 154,404 General and administrative (37,620 ) 300,251 - 583,299 Non-operating (expense) income (5,553 ) 9,811 (5,553 ) 4,261 Loss from discontinued operations before income tax (57,821 ) (374,793 ) (127,486 ) (730,030 ) Income tax expense - 7,383 - 7,383 Net loss from discontinued operations $ (57,821 ) $ (382,176 ) $ (127,486 ) $ (737,413 ) Advertising and Marketing Expenses – 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 June 30, 2020. 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, 2016 through 2019. 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 amounts accrued for penalties or interest as of June 30, 2020. Fair Value of Financial Assets and Liabilities - Net Loss per Share - As of June 30, 2020 2019 Warrants to purchase common stock 125,000 153,907 Stock options 66,126 319,126 Unvested restricted stock 206,775 66,593 Total dilutive securities 397,901 539,626 Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Income Taxes (ASU 2019-02): Simplifying the Accounting for Income Taxes which simplifies the accounting for income taxes by removing certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and by clarifying and amending existing guidance in order to improve consistent application of and simplify GAAP for other areas of Topic 740. ASU 2019-12 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the adoption of this pronouncement guidance. 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

Capitalized Technology

Capitalized Technology	6 Months Ended
	Jun. 30, 2020
Research and Development [Abstract]
Capitalized Technology	4. Capitalized Technology Capitalized Technology, net is as follows: June 30, December 31, 2020 2019 Capitalized cost: Balance, beginning of period $ 2,165,545 $ 2,163,044 Additional capitalized cost 3,700 2,501 Balance, end of period 2,169,245 2,165,545 Accumulated amortization: Balance, beginning of period $ 2,104,740 $ 1,968,213 Provision for amortization 10,328 101,448 Balance, end of period 2,115,068 2,069,661 Capitalized Technology, net 54,177 95,884 For the three months ended June 30, 2020 and 2019, amortization expense was approximately $3,700 and $25,000, and was approximately $10,000 and $51,000 for the six months ended June 30, 2020 and 2019. Amortization of capitalized technology is recorded in depreciation and amortization expense in the accompanying statements of operations.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	5. Intangible Assets Intangible assets, net was as follows: Gross Useful Lives Carrying Accumulated Net Carrying June 30, 2020 (Years) Amount Amortization Amount Long-lived intangible assets: Sales Process 10 $ 2,130,956 $ (1,807,075 ) $ 323,881 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 (11,784,728 ) 323,881 Indefinite-lived intangible assets: Trade name 90,400 Intangible assets, net $ 414,281 Gross Useful Lives Carrying Accumulated Net Carrying December 31, 2019 (Years) Amount Amortization Amount Long-lived intangible assets: Sales Process 10 $ 2,130,956 $ (1,768,971 ) $ 361,985 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 (11,746,624 ) 361,985 Indefinite-lived intangible assets: Trade name 90,400 Intangible assets, net $ 452,385 As of June 30, 2020, estimated amortization expense in future fiscal years is summarized as follows: Year ended December 31, Remaining of 2020 $ 38,103 2021 76,207 2022 76,207 2023 76,207 2024 and thereafter 57,157 $ 323,881 For the three months ended June 30, 2020 and 2019, amortization expense was approximately $19,000 and $183,000. For the six months ended June 30, 2020 and 2019, amortization expenses was $38,000 and $366,000. Intangible amortization expense is recorded in depreciation and amortization expense in the accompanying statements of operations.

Revolving Credit Facility - Rel

Revolving Credit Facility - Related Party	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Revolving Credit Facility - Related Party	6. Revolving Credit Facility – Related Party On November 16, 2018, the Company entered into a revolving credit facility agreement with GNet Tech Holdings Public Limited Company (GNet), “), under which we can draw up to GBP £1,500,000 (approximately $2,000,000). Interest is payable on any outstanding principal balance at a rate equal to the LIBOR rate plus 4%. Amounts drawn under this facility are payable at the end of one, three, or six months periods at the election of the Company. On January 14, 2019, the Company drew $293,000 under this facility and repaid it on June 7, 2019. On May 31, 2020, the revolving credit facility expired and the Company did not renew this credit facility.

Loan

Loan	6 Months Ended
	Jun. 30, 2020
Loan
Loan	7. Loan The CARES Act was enacted on March 27, 2020. Among the provisions contained in the CARES Act was the creation of the Paycheck Protection Program (“PPP”) that provides for under the Small Business Administration (“SBA”) Section 7(a) loans for qualified small businesses. PPP loan proceeds are available to be used to pay for payroll costs, including salaries, commissions, and similar compensation, group health care benefits, and paid leaves, rent, utilities and interest on certain other outstanding debt. The amount that will be forgiven will be calculated in part with reference to the Company’s full-time headcount during the eight-week period following the funding of the PPP loan. The Company applied for the PPP loan and on May 5, 2020, the Company received total proceeds of $651,077 from the SBA. In accordance with the loan forgiveness requirements under the CARES Act, the Company intends to use the proceeds from the PPP Loan primarily for payroll costs, rent and utilities. The Company will be applying for loan forgiveness during the third quarter of 2020 and anticipates that 100% of the PPP Loan will be forgiven by the SBA. Until such time as the PPP Loan is fully or partially forgiven, the Company has recorded the receipts under the PPP Loan as a short-term and long-term loan in its condensed consolidated balance sheets.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accrued Liabilities	8. Accrued Liabilities As of June 30, 2020 and December 31, 2019, accrued liabilities consisted of the following: As of June 30, December 31, 2020 2019 Litigation reserve $ 1,246,002 $ 348,000 Accrued payroll 137,193 72,166 Accrued legal fees 80,208 69,896 Accrued Board of Director fees 57,378 50,364 Accrued revenue sharing agreements 49,939 43,844 Other 63,069 69,899 Total accrued liabilities $ 1,633,789 $ 654,169

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Lease Obligations - As of June 30, 2020, right of use assets were $14,326 and current lease obligations were $16,016. PDN China’s bank account with balance of approximately $2.89 million was frozen by Guangzhou Police due to the Gatewang Case. The Company has classified this entire cash balance as a long-term asset and is classified in discontinued operations. 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 million based on White Winston’s contention that the Company’s conduct delayed White Winston’s ability to sell shares in the Company during a period when the Company’s stock price was generally falling. On April 30, 2018, White Winston filed a lawsuit, entitled White Winston Select Asset Funds, LLC v. Professional Diversity Network, Inc., No. 18-cv-10844, (the “Federal Action”) in the United States District Court for the District of Massachusetts, asserting federal jurisdiction based on diversity of citizenship. The four-count complaint in the Federal Action alleged that White Winston is entitled to recover compensatory damages of $1,708,233, plus attorneys’ fees, treble damages and other amounts. White Winston served the complaint on July 12, 2018, and the Company moved to dismiss the entire action for failure to state a claim. On October 15, 2018, prior to addressing the motion to dismiss, the Court issued an order noting that White Winston (which is a limited liability company) had failed to allege the citizenship of its members and ordered White Winston to show cause that complete diversity exists between the parties and that the Court had jurisdiction. On October 23, 2018, White Winston dismissed the Federal Action without prejudice. On December 18, 2018, White Winston filed a complaint in Massachusetts Superior Court in Suffolk County in Boston alleging the same claims and rights to relief as in the Federal Action. The Company has moved to once again to dismiss the complaint in its entirety for failure to state a claim. The entire motion package, comprised of the Company’s motion to dismiss and accompanying memorandum, White Winston’s opposition, and the Company’s reply brief, were filed with the court on Monday, March 25, 2019. This motion was not granted. We have since then substantially completed all of the discovery process and will begin expert witness disclosures. The Company denies liability for all claims and has entered into settlement negotiations. NAPW is a defendant in a Nassau County (NY) Supreme Court case, whereby TL Franklin Avenue Plaza LLC has sued NAPW Case index No. LT-000421/2018, with respect to NAPW’s former Garden City NY Premises. NAPW had surrendered the Premises to the Landlord, and the Landlord has obtained a judgment against NAPW in the amount of $746,142.41. As a result of the judgement order, the Company recorded a $780,000 litigation settlement reserve in the second quarter of 2020, which reflected the judgement order in addition to imputed interest costs and legal fees. NAPW is currently negotiating a settlement with the Landlord. 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 litigation settlement reserve in the event of an unfavorable outcome in this proceeding. The Company is engaged in settlement discussions. We are also generally subject to legal proceedings and litigation arising in the ordinary course of business. 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	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
CFL Transaction	10. 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 (the “Share Issuance and Sale”), and CFL agreed to purchase, at a price of $9.60 per share (the “Per Share Price”), 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 per share (the “Common Stock”), such that CFL will hold shares of Common Stock equal to approximately 51% of the outstanding shares of Common Stock, determined on a fully-diluted basis, after giving effect to the consummation of the transactions contemplated by the Purchase Agreement, including the Tender Offer described below (the “CFL Transaction”). On November 7, 2016, the Company consummated the Share Issuance and Sale of 1,777,417 shares of its common stock to CFL at a price of $9.60 per share, pursuant to the terms of the Purchase Agreement, dated August 12, 2016. In addition, on November 7, 2016, the Company completed the purchase of 312,500 shares of its common stock at a price of $9.60 per share, net to the seller in cash, pursuant to the Tender Offer. The Company received approximately $9,000,000 in net proceeds from the Share Issuance and Sale, after the payment for the shares repurchased in the Tender Offer, the repayment of all amounts outstanding under the Master Credit Facility and the payment of transaction-related expenses. 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 (see Note 13). On November 15, 2019, CFL purchased additional 1,142,857 shares of the Company’s common stock for $1.75 per share for gross proceeds of $2,000,000 from an existing shareholder.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Preferred Stock Common Stock On March 22, 2020, the Company entered into an agreement with Malven Group Limited, a company established under the laws of the British Virgin Islands, in connection with the purchase of 1,939,237 shares of common stock of the Company at a price of $0.7735 per share for gross proceeds of $1,500,000. The closing of the transaction took place on March 30, 2020. On June 26, 2020, the Company entered into a second agreement with Malven Group Limited, in connection with the purchase of 312,500 shares of common stock of the Company at a price of $3.20 per share for gross proceeds of $1,000,000. The closing of the transaction took place on June 29, 2020, however, all the proceeds from this sale were not received until July 24, 2020. The resulting increase in Stockholders’ Equity from this stock sale is reflected when the proceeds were received. See Note 15. Subsequent Events.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	12. Stock-Based Compensation Equity Incentive Plans 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. The following table summarizes the Company’s stock option activity for the six months ended June 30, 2020 and 2019: 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 10.0 Exercised - - - Forfeited (259,667 ) 9.21 - Outstanding - June 30, 2020 66,126 $ 5.24 8.8 $ - Exercisable at June 30, 2020 26,126 $ 8.18 7.5 $ - Weighted Weighted Average Average Remaining Contractual Aggregate Number of Exercise Life Intrinsic Options Price (in Years) Value Outstanding - January 1, 2019 499,439 $ 6.94 $ 9.0 $ - Granted 30,000 2.23 - Exercised - - - Forfeited (210,313 ) 3.98 - Outstanding - June 30, 2019 319,126 $ 8.44 8.1 $ 8,400 Exercisable at June 30, 2019 252,459 $ 9.97 7.8 $ 2,800 The fair value of stock options granted during the six months ended June 30, 2020 were estimated on the date of grant using the Black-Scholes option pricing model. The fair value of stock options is being amortized on a straight-line basis over the requisite service period of the awards. The fair value of share options were estimated using the following assumptions: Six Months Ended June 30, 2020 Expected dividend yield - Risk-free interest rate 0.33 % Expected volatility 111.55 % Expected term (in years) 5.75 Grant-date fair value of stock options awarded $ 3.03 During the six months ended June 30, 2020, vested stock options of 259,667 with a weighted average exercise price of $9.21 were forfeited. Total unrecognized pre-tax stock-based compensation expense related to unvested stock options at June 30, 2020 was $102,297, which is expected to be recognized through the second quarter of 2023. Warrants As of June 30, 2020 and December 31, 2019, 125,000 warrants were outstanding and exercisable with an exercise price of $20.00 per share. The aggregate intrinsic value was $0 and the warrants are scheduled to expire on December 27, 2021. Restricted Stock As of June 30, 2020 and 2019, the following is a summary of restricted stock activity: Number of Shares Outstanding - January 1, 2020 27,319 Granted 306,775 Forfeited - Vested (127,319 ) Outstanding - June 30, 2020 206,775 Number of Shares Outstanding - January 1, 2019 60,651 Granted 47,568 Forfeited (13,865 ) Vested (27,761 ) Outstanding - June 30, 2019 66,593 During the six months ended June 30, 2020, 127,319 in restricted stock units vested. During the six months ended June 30, 2020, 306,775 restricted stock units were granted, of which 100,000 restricted stock units vested upon date of grant. Additionally, the Company recorded non-cash pre-tax stock-based compensation expense of $374,397 and $72,570 for the six months ended June 30, 2020 and June 30, 2019, 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 June 30, 2020 was $757,603 and is expected to be recognized through the second quarter of 2022.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	13. 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 June 30, 2020 and 2019, the Company recorded a benefit for income tax from continuing operations of $12,512 and $10,236. For the six months ended June 30, 2020 and 2019, the Company recorded a benefit for income tax of $18,421 and $75,869. The increase in income tax benefit during the current period was primarily due to an increase in discrete tax item associated with stock-based compensation expense in addition to a reduction in our valuation allowance The valuation allowance at June 30, 2020 was approximately $8,263,000. The net change in the valuation allowance during the three months ended June 30, 2020 was an increase of approximately $562,000. 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 June 30, 2020.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	14. Segment Information Beginning on May 26, 2018, the Company operated in the following segments: (A) United States: (i) PDN Network and (ii) NAPW Network, (B) China Operations, and (C) Corporate Overhead. The segments are categorized based on their business activities and organization. On March 4, 2020, the Company’s Board of Directors decided to suspend all China operations. As of December 31, 2019, the Company operated in the following segments: (i) NAPW Network, (ii) PDN Network and (iii) Corporate Overhead. Accordingly, all financial results for Noble Voice and 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 of the Company’s reportable segments as of June 30, 2020 and December 31, 2019 and for the three and six months ended June 30, 2020 and 2019: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 PDN NAPW Corporate PDN NAPW Corporate Network Network Overhead Consolidated Network Network Overhead Consolidated Membership fees and related services $ - $ 353,408 $ - $ 353,408 $ - $ 737,239 $ - $ 737,239 Recruitment services 572,233 - - 572,233 1,138,920 - - 1,138,920 Products sales and other - 1,899 - 1,899 - 3,330 - 3,330 Consumer advertising and marketing solutions 24,290 - - 24,290 54,638 - - 54,638 Total revenues 596,523 355,307 - 951,830 1,193,558 740,569 - 1,934,127 Loss from continuing operations (82,526 ) (370,196 ) (1,346,391 ) (1,799,113 ) (232,550 ) (438,306 ) (2,557,261 ) (3,228,117 ) Depreciation and amortization 11,835 36,013 - 47,848 26,510 73,339 - 99,849 Income tax benefit (121 ) (2,201 ) (10,190 ) (12,512 ) (1,072 ) (2,608 ) (14,741 ) (18,421 ) Net loss from continuing operations (76,855 ) (367,995 ) (1,336,201 ) (1,781,051 ) (225,264 ) (435,698 ) (2,542,520 ) (3,203,482 ) As of June 30, 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 Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 PDN NAPW Corporate PDN NAPW Corporate Network Network Overhead Consolidated Network Network Overhead Consolidated Membership fees and related services $ - $ 633,914 $ - $ 633,914 $ - $ 1,428,453 $ - $ 1,428,453 Recruitment services 651,046 - - 651,046 1,125,306 - - 1,125,306 Products sales and other - 1,143 - 1,143 - 3,955 - 3,955 Consumer advertising and marketing solutions 38,059 - - 38,059 73,775 - - 73,775 Total revenues 689,105 635,057 - 1,324,162 1,199,081 1,432,408 - 2,631,489 Loss from continuing operations (19,545 ) (44,245 ) (699,973 ) (763,763 ) (191,021 ) (151,976 ) (1,287,948 ) (1,630,945 ) Depreciation and amortization 15,891 201,443 - 217,334 31,632 402,885 - 434,517 Income tax benefit 24,110 (1,037 ) (33,309 ) (10,236 ) 10,975 (9,166 ) (77,678 ) (75,869 ) Net loss from continuing operations 320,814 (43,208 ) (666,664 ) (389,058 ) 159,890 (142,810 ) (1,210,270 ) (1,193,190 ) As of December 31, 2019 Goodwill $ 339,451 $ - $ - $ 339,451 Intangibles assets, net 90,400 361,985 - 452,385 Assets from continuing operations 2,151,734 1,254,693 - 3,406,427

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On June 26, 2020, the Company entered into a second agreement with an institutional investor for the sale of 312,500 shares of common stock of the Company at a price of $3.20 per share for net proceeds of $1,000,000. The closing of this transaction took place on June 29, 2020, however, all the proceeds from this sale were not received until July 24, 2020. On July 27, 2020, the Company entered into a Securities Purchase Agreement with three institutional accredited investors. The Company sold 1,481,484 shares of its common stock at a per share price of $1.35 and received net proceeds of $1,814,353 on July 27, 2020. Net proceeds from common stock sales received in July 2020: June 29, 2020, stock sale $ 1,000,000 July 27, 2020, stock sale 1,814,353 Total $ 2,814,353 The resulting increase in Stockholders’ Equity from this stock sale is reflected in the financial statements when the proceeds are received. With the receipt of the above net proceeds, the Company has regained compliance with NASDAQ listing requirements. NASDAQ will continue to monitor the Company’s ongoing compliance with the stockholders’ equity requirement, and, if at the time of its next periodic report the Company does not evidence compliance, the Company may be subject to delisting.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation -
Use of Estimates	Use of 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.
Cash Equivalents	Cash Equivalents -
Accounts Receivable	Accounts Receivable -
Incremental Direct Costs	Incremental Direct Costs PDN Network sales commission agency commission over service capitalized
Property and Equipment	Property and Equipment -
Capitalized Technology Costs	Capitalized Technology Costs -
Business Combinations	Business Combinations -
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
Revenue Recognition	Revenue Recognition – Membership Fees and Related Services Membership fees 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. We also offer a monthly membership for which we collect fees on a monthly basis and we recognize revenue in the same month as we collect the monthly fees. 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. Deferred Revenue – 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 month that the event takes place and e-commerce sales are for one-month job postings and the revenue from those sales are recognized in the month the sale is made. Our 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 and over 20 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 ● 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 consolidated statements of operations. Education and Training The Company works with its business partners to provide education and training seminars to business people in China. Revenues are recognized in the month when the seminar takes place. 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. The Company’s partner organizations include NAACP and National Urban League,VetJobs, among others.
Discontinued Operations	Discontinued Operations China Operations On November 25, 2019, PDN China received a Seizure Decision Notice (the “Notice”) from the Yuexiu District Branch of the Police Department of Guangzhou City, the People’s Republic of China. The Notice stated that it is necessary to seize the assets of PDN China 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 (“Michael Wang”) is affiliated, who was subsequently held in custody by the local police department. In response to such events, on December 12, 2019 the Company’s Board of Directors (the “Board”) established the Special Committee to investigate the situation, and ‎retained the international law firm of King & Wood Mallesons (“KWM”) to assist the Special Committee in connection with the Special Committee’s investigation of the Company’s operations in the People’s Republic of China and related events, ‎ in collaboration with the Company’s external auditor Ciro E. Adams CPA LLC. KWM conducted extensive research into public records in China, and interviewed the relevant divisions of the Public Security Bureau in China and any related witnesses in relation to the operations and specific transactions that had some relationship to the Gatewang entities. On April 16, 2020, based upon the information obtained, the investigation team concluded that it did not find any evidence that the Company or PDN China engaged in any criminal activity of illegal fund raising as alleged against Gatewang. The Investigation also revealed that three entities and two ‎individuals (the “Payors”), who appeared to be related to Gatewang, collectively paid RMB 14.25 million to PDN China on behalf of ‎EGBT Foundation Ltd., a private placement investor that purchased ‎1,265,823 shares of the Company’s common stock (approximately 11.6%) in September 2019 (the “EGBT Transaction”)‎. To the knowledge of the Investigation team, the bank account holding the proceeds of ‎the EGBT Transaction is still frozen by the Chinese authorities. The seizure of PDN ‎China office by the local police was lifted on March 23, 2020. These funds, approximately $2.89 million dollars (USD) continue to be subject to the PRC government’s jurisdiction. If the source of funds is actually (or perceived to be) connected to Gatewang, the Chinese authorities may not unfreeze PDN China’s bank account. If and when the bank account is unfrozen, the Company will consider whether the EGBT Transaction needs to be unwound or further documented to be in full compliance with applicable law. The Company’s operations in China have been suspended since December 2019. On March 4, 2020 the Board decided to discontinue all of the Company’s operations in the People’s Republic of China, namely PDN (China) International Culture Development Co. Ltd.‎, a wholly owned subsidiary of ‎the Company, Jiangxi PDN Culture Media Co., Ltd. (“PDN Jiangxi”), a variable interest entity ‎‎controlled by of the Company‎, and the joint venture between PDN Jiangxi, Guangzhou ‎Zengcheng District Zhili Education ‎Training Center, and Guangzhou Angye Education ‎Consulting Co. Ltd.‎ 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 six months ended June 30, 2020, loss from discontinued operations was approximately ($58,000) and ($127,000), compared to a loss from discontinued operations of ($382,000) and ($737,000) for the three and six months ended June 30, 2019. 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. As of June 30, 2020, current assets from discontinued operations were approximately $4,000, compared to approximately $76,000 as of December 31, 2019, and long-term assets from discontinued operations were approximately $2,847,000 at June 30, 2020, compared to approximately $3,109,000 as of December 31, 2019. As of June 30, 2020, current liabilities from discontinued operations were approximately $323,000, compared to approximately $564,000 as of December 31, 2019. Operating Results of Discontinued Operations The following table represents the components of operating results from discontinued operations, as presented in the statements of operations and comprehensive loss for the three and six months ended June 30, 2020 and 2019: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Revenues $ - $ 2,305 $ - $ 41,483 Cost of Sales 7,787 13,027 15,143 29,625 Depreciation and amortization 1,676 4,207 1,676 8,446 Sales and marketing 80,425 69,424 105,114 154,404 General and administrative (37,620 ) 300,251 - 583,299 Non-operating (expense) income (5,553 ) 9,811 (5,553 ) 4,261 Loss from discontinued operations before income tax (57,821 ) (374,793 ) (127,486 ) (730,030 ) Income tax expense - 7,383 - 7,383 Net loss from discontinued operations $ (57,821 ) $ (382,176 ) $ (127,486 ) $ (737,413 )
Advertising and Marketing Expenses	Advertising and Marketing Expenses –
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 June 30, 2020. 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, 2016 through 2019. 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 amounts accrued for penalties or interest as of June 30, 2020.
Fair Value of Financial Assets and Liabilities	Fair Value of Financial Assets and Liabilities -
Net Loss Per Share	Net Loss per Share - As of June 30, 2020 2019 Warrants to purchase common stock 125,000 153,907 Stock options 66,126 319,126 Unvested restricted stock 206,775 66,593 Total dilutive securities 397,901 539,626
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Income Taxes (ASU 2019-02): Simplifying the Accounting for Income Taxes which simplifies the accounting for income taxes by removing certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and by clarifying and amending existing guidance in order to improve consistent application of and simplify GAAP for other areas of Topic 740. ASU 2019-12 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the adoption of this pronouncement guidance. 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)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Operating Results of Discontinued Operations	The following table represents the components of operating results from discontinued operations, as presented in the statements of operations and comprehensive loss for the three and six months ended June 30, 2020 and 2019: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Revenues $ - $ 2,305 $ - $ 41,483 Cost of Sales 7,787 13,027 15,143 29,625 Depreciation and amortization 1,676 4,207 1,676 8,446 Sales and marketing 80,425 69,424 105,114 154,404 General and administrative (37,620 ) 300,251 - 583,299 Non-operating (expense) income (5,553 ) 9,811 (5,553 ) 4,261 Loss from discontinued operations before income tax (57,821 ) (374,793 ) (127,486 ) (730,030 ) Income tax expense - 7,383 - 7,383 Net loss from discontinued operations $ (57,821 ) $ (382,176 ) $ (127,486 ) $ (737,413 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The computation of basic net loss per share for the three and six months ended June 30, 2020 and 2019 excludes the potentially dilutive securities summarized in the table below because their inclusion would be anti-dilutive. As of June 30, 2020 2019 Warrants to purchase common stock 125,000 153,907 Stock options 66,126 319,126 Unvested restricted stock 206,775 66,593 Total dilutive securities 397,901 539,626

Capitalized Technology (Tables)

Capitalized Technology (Tables)	6 Months Ended
	Jun. 30, 2020
Research and Development [Abstract]
Schedule of Capitalized Technology	Capitalized Technology, net is as follows: June 30, December 31, 2020 2019 Capitalized cost: Balance, beginning of period $ 2,165,545 $ 2,163,044 Additional capitalized cost 3,700 2,501 Balance, end of period 2,169,245 2,165,545 Accumulated amortization: Balance, beginning of period $ 2,104,740 $ 1,968,213 Provision for amortization 10,328 101,448 Balance, end of period 2,115,068 2,069,661 Capitalized Technology, net 54,177 95,884

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets	Intangible assets, net was as follows: Gross Useful Lives Carrying Accumulated Net Carrying June 30, 2020 (Years) Amount Amortization Amount Long-lived intangible assets: Sales Process 10 $ 2,130,956 $ (1,807,075 ) $ 323,881 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 (11,784,728 ) 323,881 Indefinite-lived intangible assets: Trade name 90,400 Intangible assets, net $ 414,281 Gross Useful Lives Carrying Accumulated Net Carrying December 31, 2019 (Years) Amount Amortization Amount Long-lived intangible assets: Sales Process 10 $ 2,130,956 $ (1,768,971 ) $ 361,985 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 (11,746,624 ) 361,985 Indefinite-lived intangible assets: Trade name 90,400 Intangible assets, net $ 452,385
Schedule of Future Annual Estimated Amortization Expense	As of June 30, 2020, estimated amortization expense in future fiscal years is summarized as follows: Year ended December 31, Remaining of 2020 $ 38,103 2021 76,207 2022 76,207 2023 76,207 2024 and thereafter 57,157 $ 323,881

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	As of June 30, 2020 and December 31, 2019, accrued liabilities consisted of the following: As of June 30, December 31, 2020 2019 Litigation reserve $ 1,246,002 $ 348,000 Accrued payroll 137,193 72,166 Accrued legal fees 80,208 69,896 Accrued Board of Director fees 57,378 50,364 Accrued revenue sharing agreements 49,939 43,844 Other 63,069 69,899 Total accrued liabilities $ 1,633,789 $ 654,169

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table summarizes the Company’s stock option activity for the six months ended June 30, 2020 and 2019: 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 10.0 Exercised - - - Forfeited (259,667 ) 9.21 - Outstanding - June 30, 2020 66,126 $ 5.24 8.8 $ - Exercisable at June 30, 2020 26,126 $ 8.18 7.5 $ - Weighted Weighted Average Average Remaining Contractual Aggregate Number of Exercise Life Intrinsic Options Price (in Years) Value Outstanding - January 1, 2019 499,439 $ 6.94 $ 9.0 $ - Granted 30,000 2.23 - Exercised - - - Forfeited (210,313 ) 3.98 - Outstanding - June 30, 2019 319,126 $ 8.44 8.1 $ 8,400 Exercisable at June 30, 2019 252,459 $ 9.97 7.8 $ 2,800
Schedule of Fair Value Measurement Assumptions	The fair value of share options were estimated using the following assumptions: Six Months Ended June 30, 2020 Expected dividend yield - Risk-free interest rate 0.33 % Expected volatility 111.55 % Expected term (in years) 5.75 Grant-date fair value of stock options awarded $ 3.03
Schedule of Restricted Stock Award Activity	As of June 30, 2020 and 2019, the following is a summary of restricted stock activity: Number of Shares Outstanding - January 1, 2020 27,319 Granted 306,775 Forfeited - Vested (127,319 ) Outstanding - June 30, 2020 206,775 Number of Shares Outstanding - January 1, 2019 60,651 Granted 47,568 Forfeited (13,865 ) Vested (27,761 ) Outstanding - June 30, 2019 66,593

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Information	The following tables present key financial information of the Company’s reportable segments as of June 30, 2020 and December 31, 2019 and for the three and six months ended June 30, 2020 and 2019: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 PDN NAPW Corporate PDN NAPW Corporate Network Network Overhead Consolidated Network Network Overhead Consolidated Membership fees and related services $ - $ 353,408 $ - $ 353,408 $ - $ 737,239 $ - $ 737,239 Recruitment services 572,233 - - 572,233 1,138,920 - - 1,138,920 Products sales and other - 1,899 - 1,899 - 3,330 - 3,330 Consumer advertising and marketing solutions 24,290 - - 24,290 54,638 - - 54,638 Total revenues 596,523 355,307 - 951,830 1,193,558 740,569 - 1,934,127 Loss from continuing operations (82,526 ) (370,196 ) (1,346,391 ) (1,799,113 ) (232,550 ) (438,306 ) (2,557,261 ) (3,228,117 ) Depreciation and amortization 11,835 36,013 - 47,848 26,510 73,339 - 99,849 Income tax benefit (121 ) (2,201 ) (10,190 ) (12,512 ) (1,072 ) (2,608 ) (14,741 ) (18,421 ) Net loss from continuing operations (76,855 ) (367,995 ) (1,336,201 ) (1,781,051 ) (225,264 ) (435,698 ) (2,542,520 ) (3,203,482 ) As of June 30, 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 Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 PDN NAPW Corporate PDN NAPW Corporate Network Network Overhead Consolidated Network Network Overhead Consolidated Membership fees and related services $ - $ 633,914 $ - $ 633,914 $ - $ 1,428,453 $ - $ 1,428,453 Recruitment services 651,046 - - 651,046 1,125,306 - - 1,125,306 Products sales and other - 1,143 - 1,143 - 3,955 - 3,955 Consumer advertising and marketing solutions 38,059 - - 38,059 73,775 - - 73,775 Total revenues 689,105 635,057 - 1,324,162 1,199,081 1,432,408 - 2,631,489 Loss from continuing operations (19,545 ) (44,245 ) (699,973 ) (763,763 ) (191,021 ) (151,976 ) (1,287,948 ) (1,630,945 ) Depreciation and amortization 15,891 201,443 - 217,334 31,632 402,885 - 434,517 Income tax benefit 24,110 (1,037 ) (33,309 ) (10,236 ) 10,975 (9,166 ) (77,678 ) (75,869 ) Net loss from continuing operations 320,814 (43,208 ) (666,664 ) (389,058 ) 159,890 (142,810 ) (1,210,270 ) (1,193,190 ) As of December 31, 2019 Goodwill $ 339,451 $ - $ - $ 339,451 Intangibles assets, net 90,400 361,985 - 452,385 Assets from continuing operations 2,151,734 1,254,693 - 3,406,427

Going Concern and Management'_2

Going Concern and Management's Plans (Details Narrative) - USD ($)	Jul. 31, 2020	Jul. 29, 2020	Jul. 27, 2020	Jun. 26, 2020	Mar. 22, 2020	Nov. 07, 2016	Jul. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Accumulated deficit								$ (92,002,228)		$ (92,002,228)		$ (88,671,260)
Loss from continuing operations								(1,781,051)	$ (389,058)	(3,203,482)	$ (1,193,190)
Net cash used in operating activities- continuing operations										1,912,871	1,481,869
Cash balance								858,875		858,875		633,615
Revenue								951,830	$ 1,324,162	1,934,127	2,631,489
Working capital deficiency								$ (2,616,000)		(2,616,000)		$ (2,114,000)
Gross proceeds from purchase of shares						$ 9,000,000				$ 1,500,000	$ 1,597,815
Sale of common stock, shares						1,777,417
Sale of common stock, price per share						$ 9.60
Malven Group Limited [Member]
Number of shares purchased during period					1,939,237
Purchase price per share					$ 0.7735
Gross proceeds from purchase of shares					$ 1,500,000
Existing Investor [Member] | Malven Group Limited [Member]
Number of shares purchased during period				312,500
Purchase price per share				$ 3.20
Gross proceeds from purchase of shares				$ 1,000,000
Existing Investor [Member] | Malven Group Limited [Member] | Subsequent Event [Member]
Gross proceeds from purchase of shares							$ 1,000,000
Three Institutional Accredited Investors [Member] | Subsequent Event [Member] | Securities Purchase Agreement [Member]
Number of shares purchased during period			1,481,484
Purchase price per share			$ 1.35
Gross proceeds from purchase of shares	$ 2,814,353	$ 1,000,000	$ 1,814,353
Sale of common stock, shares			1,481,484
Sale of common stock, price per share			$ 1.35
Proceeds from financial advisory, legal and escrow related fees		$ 1,814,353

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative)	Nov. 07, 2016shares	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)shares	Jun. 30, 2020JPY (¥)shares	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Allowance for doubtful accounts receivable		$ 41,007		$ 41,007			$ 20,007
Incremental direct costs		23,000	$ 28,000	52,000		$ 62,000
Sale of common stock, shares | shares	1,777,417
Loss from discontinued operations		57,821	382,176	127,486		737,413
Current assets from discontinued operations		3,940		3,940			75,996
Long-term assets from discontinued operations		2,846,658		2,846,658			3,109,200
Current liabilities from discontinued operations		323,276		323,276			$ 564,044
Advertising and marketing expenses		$ 179,691	$ 98,419	$ 337,343		$ 235,347
Three Entities and Two Individuals [Member] | Private Placement [Member]
Sale of common stock, shares | shares				1,265,823	1,265,823
Percentage of sale of common stock transactions				11.60%	11.60%
Governments jurisdiction fund				$ 2,890,000
Three Entities and Two Individuals [Member] | Private Placement [Member] | RMB [Member]
Sale of common stock, value | ¥					¥ 14,250,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Operating Results of Discontinued Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Revenues		$ 2,305		$ 41,483
Cost of Sales	7,787	13,027	15,143	29,625
Depreciation and amortization	1,676	4,207	1,676	8,446
Sales and marketing	80,425	69,424	105,114	154,404
General and administrative	(37,620)	300,251		583,299
Non-operating (expense) income	(5,553)	9,811	(5,553)	4,261
Loss from discontinued operations before income tax	(57,821)	(374,793)	(127,486)	(730,030)
Income tax expense		7,383		7,383
Net loss from discontinued operations	$ (57,821)	$ (382,176)	$ (127,486)	$ (737,413)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Total dilutive securities	397,901	539,626
Warrants to Purchase Common Stock [Member]
Total dilutive securities	125,000	153,907
Stock Options [Member]
Total dilutive securities	66,126	319,126
Unvested Restricted Stock [Member]
Total dilutive securities	206,775	66,593

Capitalized Technology (Details

Capitalized Technology (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Research and Development [Abstract]
Amortization expense	$ 3,700	$ 25,000	$ 10,000	$ 51,000

Capitalized Technology - Schedu

Capitalized Technology - Schedule of Capitalized Technology (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Research and Development [Abstract]
Capitalized cost: Balance, beginning of period	$ 2,165,545	$ 2,163,044
Capitalized cost: Additional capitalized cost	3,700	2,501
Capitalized cost: Balance, end of period	2,169,245	2,165,545
Accumulated amortization: Balance, beginning of period	2,104,740	1,968,213
Accumulated amortization: Provision for amortization	10,328	101,448
Accumulated amortization: Balance, end of period	2,115,068	2,104,740
Capitalized Technology, net	$ 54,177	$ 95,884

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expense	$ 19,000	$ 183,000	$ 38,000	$ 366,000

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 12,108,609	$ 12,108,609
Accumulated Amortization	(11,784,728)	(11,746,624)
Net Carrying Amount	323,881	361,985
Indefinite-lived intangible assets: Trade name	90,400	90,400
Intangible assets, net	$ 414,281	$ 452,385
Sales Process [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives (Years)	10 years	10 years
Gross Carrying Amount	$ 2,130,956	$ 2,130,956
Accumulated Amortization	(1,807,075)	(1,768,971)
Net Carrying Amount	$ 323,881	$ 361,985
Paid Member Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives (Years)	5 years	5 years
Gross Carrying Amount	$ 803,472	$ 803,472
Accumulated Amortization	(803,472)	(803,472)
Net Carrying Amount
Member Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives (Years)	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 [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives (Years)	3 years	3 years
Gross Carrying Amount	$ 648,000	$ 648,000
Accumulated Amortization	(648,000)	(648,000)
Net Carrying Amount
Trade Name/Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Lives (Years)	4 years	4 years
Gross Carrying Amount	$ 440,000	$ 440,000
Accumulated Amortization	(440,000)	(440,000)
Net Carrying Amount

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Future Annual Estimated Amortization Expense (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Remaining of 2020	$ 38,103
2021	76,207
2022	76,207
2023	76,207
2024 and thereafter	57,157
Net Carrying Amount	$ 323,881	$ 361,985

Revolving Credit Facility - R_2

Revolving Credit Facility - Related Party (Details Narrative) - Revolving Credit Facility Agreement [Member]	Jan. 14, 2019USD ($)	Nov. 16, 2018USD ($)	Nov. 16, 2018GBP (£)
Revolving credit facility		$ 2,000,000
Revolving credit facility, interest rate		4.00%
Repayments of revolving credit facility	$ 293,000
GBP [Member]
Revolving credit facility | £			£ 1,500,000

Loan (Details Narrative)

Loan (Details Narrative) - Paycheck Protection Program Loan [Member] - USD ($)	May 05, 2020	Mar. 31, 2020
Proceeds from loan	$ 651,077
Debt instrument, description		The Company will be applying for loan forgiveness during the third quarter of 2020 and anticipates that 100% of the PPP Loan will be forgiven by the SBA.

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Litigation reserve	$ 1,246,002	$ 348,000
Accrued payroll	137,193	72,166
Accrued legal fees	80,208	69,896
Accrued Board of Director fees	57,378	50,364
Accrued revenue sharing agreements	49,939	43,844
Other	63,069	69,899
Total accrued liabilities	$ 1,633,789	$ 654,169

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Oct. 12, 2017	Jun. 30, 2020	Dec. 31, 2019	Apr. 30, 2018
Right of use assets		$ 14,326	$ 93,251
Current lease obligations		16,016	$ 105,083
Litigation settlement accrual		450,000
Litigation settlement expenses		780,000
PDN China's Bank [Member]
Bank balance		$ 2,890,000
White Winston [Member]
Loss contingency damages sought value	$ 2,000,000
Litigation settlement accrual				$ 1,708,233
Payment for legal settlement	$ 746,142

CFL Transaction (Details Narrat

CFL Transaction (Details Narrative) - USD ($)	Nov. 15, 2019	Nov. 07, 2016	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Aug. 12, 2016
Subsequent Event [Line Items]
Common stock, par value per share			$ 0.01		$ 0.01
Sale of common stock, shares		1,777,417
Sale of common stock, price per share		$ 9.60
Repurchase of stock for sale, shares		312,500
Proceeds from the sale of common stock		$ 9,000,000	$ 1,500,000	$ 1,597,815
Cosmic Forward Ltd [Member]
Subsequent Event [Line Items]
Sale of common stock, price per share	$ 1.75
Proceeds from the sale of common stock	$ 2,000,000
Number of common stock issued	1,142,857
Stock Purchase Agreement [Member]
Subsequent Event [Line Items]
Equity issuance, price per share						$ 9.60
Common stock, par value per share						$ 0.01
Percentage of common stock held by investors						51.00%

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	Jun. 26, 2020	Mar. 22, 2020	Nov. 07, 2016	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Preferred stock, shares undesignated				1,000,000
Common stock, shares authorized				45,000,000		45,000,000
Common stock, shares outstanding				11,338,359		8,927,563
Gross proceeds from purchase of shares			$ 9,000,000	$ 1,500,000	$ 1,597,815
Malven Group Limited [Member]
Number of shares purchased during period		1,939,237
Purchase price per share		$ 0.7735
Gross proceeds from purchase of shares		$ 1,500,000
Malven Group Limited [Member] | Second Agreement [Member]
Number of shares purchased during period	312,500
Purchase price per share	$ 3.20
Gross proceeds from purchase of shares	$ 1,000,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Nov. 08, 2018	Jun. 26, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vested	30,000	30,000
Exercise price of options	$ 3.69	$ 2.23
Restricted stocks granted during period	100,000
Non-cash compensation expense	$ 397,599	$ 98,689
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants outstanding	125,000		125,000
Weighted average exercise price of warrants	$ 20		$ 20
Warrants intrinsic value	$ 0		$ 0
Warrants expiration, description	December 27, 2021
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 757,603
Restricted stocks vested during period	127,319	27,761
Restricted stocks granted during period	306,775	47,568
Non-cash compensation expense	$ 374,397	$ 72,570
2013 Equity Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vested	259,667
Exercise price of options	$ 9.21
2013 Equity Compensation Plan [Member] | Unvested Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 102,297
2013 Equity Compensation Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance under equity incentive plan					225,000
2013 Equity Compensation Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance under equity incentive plan					615,000
Amended 2013 Equity Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance under equity incentive plan	915,000			300,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Number of Options, Outstanding beginning balance	295,793	499,439
Number of Options, Granted	30,000	30,000
Number of Options, Exercised
Number of Options, Forfeited	(256,667)	(210,313)
Number of Options, Outstanding ending balance	66,126	319,126
Number of Options, Exercisable	26,126	252,459
Weighted Average Exercise Price, Outstanding	$ 8.88	$ 6.94
Weighted Average Exercise Price, Granted	3.69	2.23
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Forfeited	9.21	3.98
Weighted Average Exercise Price, Outstanding	5.24	8.44
Weighted Average Exercise Price, Exercisable	$ 8.18	$ 9.97
Weighted Average Remaining Contractual Life (in Years), Outstanding beginning	7 years 6 months	9 years
Weighted Average Remaining Contractual Life (in Years), Granted	10 years
Weighted Average Remaining Contractual Life (in Years), Outstanding ending balance	8 years 9 months 18 days	8 years 1 month 6 days
Weighted Average Remaining Contractual Life (in Years), Exercisable	7 years 6 months	7 years 9 months 18 days
Average Intrinsic Value, Outstanding beginning balance
Average Intrinsic Value, Outstanding ending balance		8,400
Average Intrinsic Value, Exercisable ending balance		$ 2,800

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Fair Value Measurement Assumptions (Details)	6 Months Ended
	Jun. 30, 2020$ / shares
Share-based Payment Arrangement [Abstract]
Expected dividend yield	0.00%
Risk-free interest rate	0.33%
Expected volatility	111.55%
Expected term (in years)	5 years 9 months
Grant-date fair value of stock options awarded	$ 3.03

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Restricted Stock Award Activity (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Unvested, Granted	100,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Unvested, beginning balance	27,319	60,651
Number of Shares Unvested, Granted	306,775	47,568
Number of Shares Unvested, Forfeited		(13,865)
Number of Shares Unvested, Vested	(127,319)	(27,761)
Number of Shares Unvested, ending balance	206,775	66,593

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax benefit from continuing operations	$ (12,512)	$ (10,236)	$ (18,421)	$ (75,869)
Valuation allowance	$ 8,263,000		8,263,000
Change in valuation allowance			$ 562,000

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 30, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 951,830	$ 1,324,162	$ 1,934,127	$ 2,631,489
(Loss) income from continuing operations	(1,799,113)	(763,763)	(3,228,117)	(1,630,945)
Depreciation and amortization	47,848	217,334	99,849	434,517
Income tax benefit	(12,512)	(10,236)	(18,421)	(75,869)
Net loss from continuing operations	(1,781,051)	(389,058)	(3,203,482)	(1,193,190)
Goodwill	339,451		339,451		$ 339,451
Intangible assets, net	414,281		414,281		452,385
Assets from continuing operations	3,301,166		3,301,166		3,406,427
Membership Fees and Related Services [Member]
Segment Reporting Information [Line Items]
Total revenues	353,408	633,914	737,239	1,428,453
Recruitment Services [Member]
Segment Reporting Information [Line Items]
Total revenues	572,233	651,046	1,138,920	1,125,306
Products Sales and Other [Member]
Segment Reporting Information [Line Items]
Total revenues	1,899	1,143	3,330	3,955
Consumer Advertising and Marketing Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	24,290	38,059	54,638	73,775
PDN Network [Member]
Segment Reporting Information [Line Items]
Total revenues	596,523	689,105	1,193,558	1,199,081
(Loss) income from continuing operations	(82,526)	(19,545)	(232,550)	(191,021)
Depreciation and amortization	11,835	15,891	26,510	31,632
Income tax benefit	(121)	24,110	(1,072)	10,975
Net loss from continuing operations	(76,855)	320,814	(225,264)	159,890
Goodwill	339,451		339,451			$ 339,451
Intangible assets, net	90,400		90,400			90,400
Assets from continuing operations	2,103,830		2,103,830			$ 2,151,734
PDN Network [Member] | Membership Fees and Related Services [Member]
Segment Reporting Information [Line Items]
Total revenues
PDN Network [Member] | Recruitment Services [Member]
Segment Reporting Information [Line Items]
Total revenues	572,233	651,046	1,138,920	1,125,306
PDN Network [Member] | Product Sales and Other [Member]
Segment Reporting Information [Line Items]
Total revenues
PDN Network [Member] | Consumer Advertising and Marketing Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	24,290	38,059	54,638	73,775
NAPW Network [Member]
Segment Reporting Information [Line Items]
Total revenues	355,307	635,057	740,569	1,432,408
(Loss) income from continuing operations	(370,196)	(44,245)	(438,306)	(151,976)
Depreciation and amortization	36,013	201,443	73,339	402,885
Income tax benefit	(2,201)	(1,037)	(2,608)	(9,166)
Net loss from continuing operations	(367,995)	(43,208)	(435,698)	(142,810)
Goodwill
Intangible assets, net	323,881		323,881		361,985
Assets from continuing operations	1,197,336		1,197,336		1,254,693
NAPW Network [Member] | Membership Fees and Related Services [Member]
Segment Reporting Information [Line Items]
Total revenues	353,408	633,914	737,239	1,428,453
NAPW Network [Member] | Recruitment Services [Member]
Segment Reporting Information [Line Items]
Total revenues
NAPW Network [Member] | Product Sales and Other [Member]
Segment Reporting Information [Line Items]
Total revenues	1,899	1,143	3,330	3,955
NAPW 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) income from continuing operations	(1,346,391)	(699,973)	(2,557,261)	(1,287,948)
Depreciation and amortization
Income tax benefit	(10,190)	(33,309)	(14,741)	(77,678)
Net loss from continuing operations	(1,336,201)	(666,664)	(2,542,520)	(1,210,270)
Goodwill
Intangible assets, net
Assets from continuing operations
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

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Jul. 31, 2020	Jul. 29, 2020	Jul. 27, 2020	Jul. 26, 2020	Nov. 07, 2016	Jun. 30, 2020	Jun. 30, 2019
Proceeds from the sale of common stock					$ 9,000,000	$ 1,500,000	$ 1,597,815
Subsequent Event [Member] | Second Agreement [Member] | Institutional Investors [Member]
Number of shares purchased during period				312,500
Purchase price per share				$ 3.20
Proceeds from the sale of common stock				$ 1,000,000
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Three Institutional Accredited Investors [Member]
Number of shares purchased during period			1,481,484
Purchase price per share			$ 1.35
Proceeds from the sale of common stock	$ 2,814,353	$ 1,000,000	$ 1,814,353