| Segment Information |
Note 13 – Segment
Information
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 two 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. |
| |
|
|
| |
● |
Hospital Operations, which reflects the purchase of the Hospital Assets (see Note 3) and the operations of Scott County Community Hospital, which has since been renamed as Big South Fork Medical Center. |
The Company’s Corporate expenses
reflect consolidated company wide support services such as finance, legal counsel, human resources, and payroll.
The Company’s Decision Support
and Informatics segment and its Supportive Software Solutions segment are now included in discontinued operations as they have
been classified as held for sale as of March 31, 2018. The accounting policies of the reportable segments are the same as those
described in Note 1. Selected financial information for the Company’s operating segments is as follows:
| |
|
Three Months Ended March 31, |
|
| |
|
2018 |
|
|
2017 |
|
| Net revenues – External |
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
45,586 |
|
|
$ |
684,265 |
|
| Hospital Operations |
|
|
1,556,075 |
|
|
|
- |
|
| |
|
$ |
1,601,661 |
|
|
$ |
684,265 |
|
| |
|
|
|
|
|
|
|
|
| (Loss) income from operations |
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
(756,083 |
) |
|
$ |
(1,292,275 |
) |
| Hospital Operations |
|
|
(1,472,600 |
) |
|
|
(467,316 |
) |
| Corporate |
|
|
(1,483,341 |
) |
|
|
(1,804,517 |
) |
| Eliminations |
|
|
- |
|
|
|
7,851 |
|
| |
|
$ |
(3,712,024 |
) |
|
$ |
(3,556,257 |
) |
| Depreciation and amortization |
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
295,474 |
|
|
$ |
434,468 |
|
| Hospital Operations |
|
|
37,728 |
|
|
|
- |
|
| Corporate |
|
|
314 |
|
|
|
312 |
|
| Eliminations |
|
|
- |
|
|
|
(7,851 |
) |
| |
|
$ |
333,515 |
|
|
$ |
426,929 |
|
| Capital expenditures |
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
- |
|
|
$ |
(100,382 |
) |
| Hospital Operations |
|
|
- |
|
|
|
1,090,922 |
|
| |
|
$ |
- |
|
|
$ |
990,540 |
|
***` Intersegment revenues are eliminated
in consolidation.
| |
|
March 31, 2018 |
|
|
December 31, 2017 |
|
| Total assets |
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
1,019,946 |
|
|
$ |
1,503,520 |
|
| Hospital Operations |
|
|
2,788,059 |
|
|
|
2,549,504 |
|
| Corporate |
|
|
3,510,297 |
|
|
|
3,436,773 |
|
| Assets of AMSG and HTS classified as held for sale |
|
|
243,963 |
|
|
|
255,566 |
|
| Eliminations |
|
|
(1,424,496 |
) |
|
|
(1,454,570 |
) |
| |
|
$ |
6,137,769 |
|
|
$ |
6,290,794 |
|
|