| Segment Information |
Note 16 – 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 Jamestown Regional Medical Center and the operations of 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 June 30, 2018. The accounting policies of the reportable segments are the same as those described in Note
1 above and in Note 2 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC
on April 24, 2018.
Selected financial information for the Company’s
operating segments is as follows:
| |
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
| |
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
| Net revenues - External |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
114,736 |
|
|
$ |
74,565 |
|
|
$ |
160,321 |
|
|
$ |
758,830 |
|
| Hospital Operations |
|
|
3,177,481 |
|
|
|
- |
|
|
|
4,733,556 |
|
|
|
- |
|
| |
|
$ |
3,292,217 |
|
|
$ |
74,565 |
|
|
$ |
4,893,877 |
|
|
$ |
758,830 |
|
| (Loss) income from operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
(462,271 |
) |
|
$ |
(1,477,754 |
) |
|
$ |
(1,218,354 |
) |
|
$ |
(2,770,029 |
) |
| Hospital Operations |
|
|
(1,231,764 |
) |
|
|
(553,352 |
) |
|
|
(2,704,363 |
) |
|
|
(1,020,668 |
) |
| Corporate |
|
|
(699,350 |
) |
|
|
(1,884,287 |
) |
|
|
(2,182,691 |
) |
|
|
(3,688,804 |
) |
| Eliminations |
|
|
- |
|
|
|
330 |
|
|
|
- |
|
|
|
8,181 |
|
| |
|
$ |
(2,393,385 |
) |
|
$ |
(3,915,063 |
) |
|
$ |
(6,105,408 |
) |
|
$ |
(7,471,320 |
) |
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
217,495 |
|
|
$ |
419,905 |
|
|
$ |
512,969 |
|
|
$ |
854,373 |
|
| Corporate |
|
|
248 |
|
|
|
349 |
|
|
|
562 |
|
|
|
661 |
|
| Hospital Operations |
|
|
99,991 |
|
|
|
- |
|
|
|
137,717 |
|
|
|
- |
|
| Eliminations |
|
|
- |
|
|
|
(330 |
) |
|
|
- |
|
|
|
(8,181 |
) |
| |
|
$ |
317,734 |
|
|
$ |
419,924 |
|
|
$ |
651,248 |
|
|
$ |
846,853 |
|
| Capital expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| Hospital Operations |
|
|
- |
|
|
|
214,147 |
|
|
|
- |
|
|
|
1,394,087 |
|
| Eliminations |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
$ |
- |
|
|
$ |
214,147 |
|
|
$ |
- |
|
|
$ |
1,394,087 |
|
| |
|
June 30, 2018 |
|
|
December 31, 2017 |
|
| Total assets |
|
|
|
|
|
|
|
|
| Clinical Laboratory Operations |
|
$ |
789,278 |
|
|
$ |
1,503,520 |
|
| Supportive Software Solutions |
|
|
1,697,042 |
|
|
|
2,549,504 |
|
| Decision Support and Informatics |
|
|
36,870 |
|
|
|
- |
|
| Hospital Operations |
|
|
11,783,059 |
|
|
|
3,436,773 |
|
| Corporate |
|
|
5,446,170 |
|
|
|
255,566 |
|
| Eliminations |
|
|
(3,506,174 |
) |
|
|
(1,454,569 |
) |
| Total Assets |
|
$ |
16,246,245 |
|
|
$ |
6,290,794 |
|
|