12. SEGMENT REPORTING Operating segments have been determined on the basis of reports reviewed by the Company's Chief Executive Officer (CEO) who is the chief operating decision maker of the Company. The CEO evaluates the business from a geographic perspective, assesses performance and allocates resources on this basis. The reportable segments are as follows: After the discontinued operations of AEC Southern UK, the Company has two operating segments: AEC New York and AEC BVI.  AEC New York delivers placement, career and other advisory services Its advisory services include language training, admission advisory, on-campus advisory, internship and start-up advisory as well as other advisory services.  AEC BVI delivers customized high school and college placement and career advisory services to Chinese students wishing to study in the U.S. Currently, the revenue of AEC BVI all generated from AEC Southern Shenzhen. The following table shows an analysis by segment of the assets and liabilities of continuing operations as of September 30, 2020 and December 31,2019: September 30, 2020 AEC New York AEC BVI Total Segment assets and liabilities: Segment assets Segment assets from continuing operations $ 2,392,514 $ 766,164 $ 3,158,678 Segment assets of discontinued operations    Segment assets $ 2,392,514 $ 766,164 $ 3,158,678 Segment liabilities Segment liabilities from continuing operations $ 2,652,562 $ 1,233,467 $ 3,886,029 Segment liabilities of discontinued operations    Segment liabilities $ 2,652,562 $ 1,233,467 $ 3,886,029 December 31, 2019 AEC New York AEC BVI Total Segment assets and liabilities: Segment assets Segment assets from continuing operations $ 6,661,058 $ 772,810 $ 7,433,868 Segment assets of discontinued operations    Segment assets $ 6,661,058 $ 772,810 $ 7,433,868 Segment liabilities Segment liabilities from continuing operations $ 5,249,953 $ 965,422 $ 6,215,375 Segment liabilities of discontinued operations    Segment liabilities $ 5,249,953 $ 965,422 $ 6,215,375 Revenues from external customers, and gross profit for each business are as follows: For the three months ended September 30, 2020 AEC New York AEC BVI Total Segment revenue: Placement advisory $  $ 865 $ 865 Career advisory    Student &amp; Family advisory    Other advisory    Total revenue from continued operations $  $ 865 $ 865 Total revenue from discontinued operations    Gross profit $  $ (749) $ (749) For the nine months ended September 30, 2020 AEC New York AEC BVI Total Segment revenue: Placement advisory $  $ 42,349 $ 42,349 Career advisory 234,191  234,191 Student &amp; Family advisory    Other advisory 507  507 Total revenue from continued operations $ 234,698 $ 42,349 $ 277,047 Total revenue from discontinued operations    Gross profit $ 71,808 $ 37,571 $ 109,379 For the three months ended September 30, 2019 AEC New York AEC BVI Total Segment revenue: Placement advisory $ 343,100 $ 89,271 $ 432,371 Career advisory 731,610  731,610 Student &amp; Family advisory 400,700  400,700 Other advisory   Total revenue from continued operations $ 1,475,410 $ 89,271 $ 1,564,681 Total revenue from discontinued operations    Gross profit $ 607,896 $ 76,396 $ 684,292 For the nine months ended September 30, 2019 AEC New York AEC BVI Total Segment revenue: Placement advisory $ 1,141,900 $ 122,987 $ 1,264,887 Career advisory 2,548,885  2,548,885 Student &amp; Family advisory 887,700  887,700 Other advisory 3,000  3,000 Total revenue from continued operations $ 4,581,485 $ 122,987 $ 4,704,472 Total revenue from discontinued operations - - - Gross profit $ 1,945,284 $ 110,112 $ 2,055,396