14. Segment Information: FASB ASC Topic 280, Segment Reporting, requires that public companies report profits and losses and certain other information on their reportable operating segments in their annual and interim financial statements. The internal organization used by the public companys Chief Operating Decision Maker (CODM) to assess performance and allocate resources determines the basis for reportable operating segments. The Companys CODM is the President of our Lifeboat Distribution segment. The Company is organized into two reportable operating segments. The Lifeboat Distribution segment distributes technical software and hardware to corporate resellers, value added resellers (VARs), consultants and systems integrators worldwide. The TechXtend segment is a value-added reseller of software, hardware and services for corporations, government organizations and academic institutions in the United States and Canada. As permitted by FASB ASC Topic 280, the Company has utilized the aggregation criteria in combining its operations in Canada with the domestic segments as the Canadian operations provide the same products and services to similar clients and are considered together when the Companys CODM decides how to allocate resources. Segment income is based on segment revenue less the respective segments cost of revenues as well as segment direct costs (including such items as payroll costs and payroll related costs, such as profit sharing, incentive awards and insurance) and excluding general and administrative expenses not attributed to an individual segment business unit. The Company only identifies accounts receivable, vendor prepayments and inventory by segment as shown below as Selected Assets by segment; it does not allocate its other assets, including capital expenditures by segment. The following segment reporting information of the Company is provided: (Unaudited) Three months ended March 31, 2020 2019 Revenue: Lifeboat Distribution $ 57,264 $ 40,055 TechXtend 5,354 4,803 62,618 44,858 Gross Profit: Lifeboat Distribution $ 7,162 $ 6,198 TechXtend 1,002 1,036 8,164 7,234 Direct Costs: Lifeboat Distribution $ 2,637 $ 2,484 TechXtend 462 437 3,099 2,921 Segment Income Before Taxes: (1) Lifeboat Distribution $ 4,525 $ 3,714 TechXtend 540 599 Segment Income Before Taxes 5,065 4,313 General and administrative $ 2,401 $ 2,594 Legal and financial advisory expenses - unsolicited bid and related matters 1,323  Acquisition related costs 403  Interest, net 62 169 Foreign currency transaction gain 115 62 Income before taxes $ 1,115 $ 1,950 (1) Excludes general corporate expenses including interest and foreign currency translation expenses. (Unaudited) As of As of March 31, December 31, Selected Assets by Segment: 2020 2019 Lifeboat Distribution $ 107,450 $ 99,602 TechXtend 5,164 5,603 Segment Select Assets 112,614 105,205 Corporate Assets 17,232 21,076 Total Assets $ 129,846 $ 126,281 (Unaudited) Three months ended Disaggregation of Revenue: March 31, March 31, 2020 2019 Lifeboat Distribution Hardware, software and other products $ 52,494 $ 35,852 Software - security &amp; highly interdependent with support 1,925 1,836 Maintenance, support &amp; other services 2,845 2,367 Net Sales $ 57,264 $ 40,055 TechXtend Hardware, software and other products $ 5,089 $ 4,337 Software - security &amp; highly interdependent with support 28 56 Maintenance, support &amp; other services 237 410 Net Sales $ 5,354 $ 4,803