| Segment Reporting |
Note 16– 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 two reportable
business segments:
| |
● |
Hospital Operations, which reflects the operations of Jamestown Regional Medical Center, Big South Fork Medical Center and Jellico Community Hospital and CarePlus Center. |
| |
● |
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. |
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, 2019. 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 June 30, |
|
|
Six Months Ended June 30, |
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| Net revenues - External |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
4,055,774 |
|
|
$ |
3,177,481 |
|
|
$ |
9,161,039 |
|
|
$ |
4,733,556 |
|
| Clinical Laboratory Operations |
|
|
5,415 |
|
|
|
114,736 |
|
|
|
90,800 |
|
|
|
160,321 |
|
| |
|
$ |
4,061,189 |
|
|
$ |
3,292,217 |
|
|
$ |
9,251,839 |
|
|
$ |
4,893,877 |
|
(Loss) income from continuing operations
before income taxes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
(4,002,213 |
) |
|
$ |
(1,231,764 |
) |
|
$ |
(7,177,320 |
) |
|
$ |
(2,704,363 |
) |
| Clinical Laboratory Operations |
|
|
(180,028 |
) |
|
|
(462,271 |
) |
|
|
(405,558 |
) |
|
|
(1,218,354 |
) |
| Corporate |
|
|
(914,074 |
) |
|
|
(699,350 |
) |
|
|
(1,986,909 |
) |
|
|
(2,182,691 |
) |
| Other income (expense), net |
|
|
(8,183,261 |
) |
|
|
47,857,883 |
|
|
|
(16,642,584 |
) |
|
|
(95,216,393 |
) |
| |
|
$ |
(13,279,576 |
) |
|
$ |
45,464,498 |
|
|
$ |
(26,212,371 |
) |
|
$ |
(101,321,801 |
) |
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
176,371 |
|
|
$ |
99,991 |
|
|
$ |
350,147 |
|
|
$ |
137,717 |
|
| Clinical Laboratory Operations |
|
|
9,683 |
|
|
|
217,495 |
|
|
|
59,345 |
|
|
|
512,969 |
|
| Corporate |
|
|
182 |
|
|
|
248 |
|
|
|
330 |
|
|
|
562 |
|
| |
|
$ |
186,236 |
|
|
$ |
317,734 |
|
|
$ |
409,822 |
|
|
$ |
651,248 |
|
| Capital expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
1,398 |
|
|
$ |
- |
|
|
$ |
43,715 |
|
|
$ |
- |
|
| Clinical Laboratory Operations |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
$ |
1,398 |
|
|
$ |
- |
|
|
$ |
43,715 |
|
|
$ |
- |
|
| |
|
As of |
|
| |
|
June 30, 2019 |
|
|
December 31, 2018 |
|
| Total assets |
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
16,257,398 |
|
|
$ |
13,568,933 |
|
| Clinical Laboratory Operations |
|
|
425,167 |
|
|
|
271,426 |
|
| Corporate |
|
|
2,687,282 |
|
|
|
2,707,416 |
|
| Assets of AMSG and HTS classified as held for sale |
|
|
318,854 |
|
|
|
152,171 |
|
| Eliminations |
|
|
(2,760,506 |
) |
|
|
(2,500,646 |
) |
| |
|
$ |
16,928,195 |
|
|
$ |
14,199,300 |
|
|