| Segment Reporting |
Operating segments
are defined under U.S. GAAP as components of an enterprise for which discrete financial information is available and are evaluated
regularly by the enterprise’s chief operating decision maker in determining how to allocate resources and assess performance.
The Company operates in three reportable business segments:
|
· |
Clinical
Laboratory Operations, which specializes in providing urine and blood toxicology and
pain medication testing to physicians, clinics and rehabilitation facilities in the United
States. |
|
· |
Supportive
Software Solutions, including EHR and medical billing and laboratory information management
systems. |
|
· |
Decision
Support and Informatics, which develops and markets medical information and clinical
support products and services intended to set a standard for the clinical interpretation
of genomics-based precision medicine. |
The accounting
policies of the reportable segments are the same as those described in Note 2, Summary of Significant Accounting Policies, of
the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K/A for
the year ended December 31, 2015. Selected financial information for the Company’s operating segments is as follows:
| |
|
Three
Months Ended June 30, |
|
|
Six
Months Ended June 30, |
|
| |
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
| Net revenues - External |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
2,512,163 |
|
|
$ |
8,924,951 |
|
|
$ |
3,977,300 |
|
|
$ |
22,424,754 |
|
| Supportive Software Solutions |
|
|
325,102 |
|
|
|
456,700 |
|
|
|
555,128 |
|
|
|
605,679 |
|
| Decision Support and Informatics |
|
|
216,447 |
|
|
|
– |
|
|
|
400,097 |
|
|
|
– |
|
| |
|
$ |
3,053,712 |
|
|
$ |
9,381,651 |
|
|
$ |
4,932,525 |
|
|
$ |
23,030,433 |
|
| Net revenues - Inter Segment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Supportive Software Solutions |
|
|
237,993 |
|
|
|
444,629 |
|
|
|
534,341 |
|
|
|
828,737 |
|
| |
|
$ |
237,993 |
|
|
$ |
444,629 |
|
|
$ |
534,341 |
|
|
$ |
828,737 |
|
| Income (loss) from operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
(1,047,690 |
) |
|
$ |
1,291,465 |
|
|
$ |
(3,698,230 |
) |
|
$ |
6,356,886 |
|
| Supportive Software Solutions |
|
|
(1,234,194 |
) |
|
|
(1,362,273 |
) |
|
|
(2,547,507 |
) |
|
|
(2,720,262 |
) |
| Decision Support and Informatics |
|
|
(675,714 |
) |
|
|
– |
|
|
|
(1,557,280 |
) |
|
|
– |
|
| Corporate |
|
|
(2,166,251 |
) |
|
|
(4,548,962 |
) |
|
|
(4,118,688 |
) |
|
|
(6,067,549 |
) |
| Eliminations |
|
|
33,664 |
|
|
|
28,062 |
|
|
|
67,324 |
|
|
|
53,778 |
|
| |
|
$ |
(5,090,185 |
) |
|
$ |
(4,591,708 |
) |
|
$ |
(11,854,381 |
) |
|
$ |
(2,377,147 |
) |
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
562,134 |
|
|
$ |
521,024 |
|
|
$ |
1,143,235 |
|
|
$ |
968,349 |
|
| Supportive Software Solutions |
|
|
162,059 |
|
|
|
175,507 |
|
|
|
326,487 |
|
|
|
335,863 |
|
| Decision Support and Informatics |
|
|
10,283 |
|
|
|
– |
|
|
|
24,810 |
|
|
|
– |
|
| Corporate |
|
|
874 |
|
|
|
(26,890 |
) |
|
|
1,749 |
|
|
|
– |
|
| Eliminations |
|
|
(33,663 |
) |
|
|
– |
|
|
|
(67,324 |
) |
|
|
(53,778 |
) |
| |
|
$ |
701,687 |
|
|
$ |
669,641 |
|
|
$ |
1,428,957 |
|
|
$ |
1,250,434 |
|
| Capital expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
14,473 |
|
|
$ |
84,867 |
|
|
$ |
31,358 |
|
|
$ |
272,752 |
|
| Supportive Software Solutions |
|
|
7,881 |
|
|
|
26,741 |
|
|
|
9,998 |
|
|
|
51,998 |
|
| |
|
$ |
22,354 |
|
|
$ |
111,608 |
|
|
$ |
41,356 |
|
|
$ |
324,750 |
|
| |
|
June
30, 2016 |
|
|
December
31, 2015 |
|
| Total assets |
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
13,578,567 |
|
|
$ |
15,152,583 |
|
| Supportive Software Solutions |
|
|
2,605,016 |
|
|
|
2,896,473 |
|
| Decision Support and Informatics |
|
|
314,335 |
|
|
|
4,307,053 |
|
| Corporate |
|
|
4,716,237 |
|
|
|
12,711,284 |
|
| Eliminations |
|
|
(2,861,507 |
) |
|
|
(7,095,520 |
) |
| |
|
$ |
18,352,648 |
|
|
$ |
27,971,873 |
|
|