| 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, 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.
Selected financial information for the Company’s
operating segments was as follows:
| |
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Net revenues - External |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
2,069,019 |
|
|
$ |
4,055,774 |
|
|
$ |
3,909,110 |
|
|
$ |
9,161,039 |
|
| Clinical Laboratory Operations |
|
|
- |
|
|
|
5,415 |
|
|
|
1,440 |
|
|
|
90,800 |
|
| |
|
$ |
2,069,019 |
|
|
$ |
4,061,189 |
|
|
$ |
3,910,550 |
|
|
$ |
9,251,839 |
|
| Net income (loss) from continuing operations before income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
(2,323,338 |
) |
|
$ |
(4,002,213 |
) |
|
$ |
(5,416,271 |
) |
|
$ |
(7,177,320 |
) |
| Clinical Laboratory Operations |
|
|
(293,456 |
) |
|
|
(180,028 |
) |
|
|
(406,842 |
) |
|
|
(405,558 |
) |
| Corporate |
|
|
(696,510 |
) |
|
|
(914,074 |
) |
|
|
(1,342,376 |
) |
|
|
(1,986,909 |
) |
| Other income (expense), net |
|
|
5,418,759 |
|
|
|
(8,183,261 |
) |
|
|
2,400,456 |
|
|
|
(16,642,584 |
) |
| Benefit from income taxes |
|
|
- |
|
|
|
- |
|
|
|
1,118,485 |
|
|
|
- |
|
| |
|
$ |
2,105,455 |
|
|
$ |
(13,279,576 |
) |
|
$ |
(3,646,548 |
) |
|
$ |
(26,212,371 |
) |
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
176,998 |
|
|
$ |
176,371 |
|
|
$ |
359,313 |
|
|
$ |
350,147 |
|
| Clinical Laboratory Operations |
|
|
4,041 |
|
|
|
9,683 |
|
|
|
(13,702 |
) |
|
|
59,345 |
|
| Corporate |
|
|
52 |
|
|
|
182 |
|
|
|
187 |
|
|
|
330 |
|
| |
|
$ |
181,091 |
|
|
$ |
186,236 |
|
|
$ |
345,798 |
|
|
$ |
409,822 |
|
| Capital expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
10,435 |
|
|
$ |
1,398 |
|
|
$ |
10,435 |
|
|
$ |
43,715 |
|
| |
|
$ |
10,435 |
|
|
$ |
1,398 |
|
|
$ |
10,435 |
|
|
$ |
43,715 |
|
| |
|
As of |
|
| |
|
June 30, 2020 |
|
|
December 31, 2019 |
|
| Total assets |
|
|
|
|
|
|
|
|
| Hospital Operations |
|
$ |
12,813,219 |
|
|
$ |
14,275,256 |
|
| Clinical Laboratory Operations |
|
|
450,212 |
|
|
|
330,381 |
|
| Corporate |
|
|
4,457,937 |
|
|
|
2,305,380 |
|
| Assets of AMSG and HTS classified as held for sale |
|
|
212,018 |
|
|
|
514,772 |
|
| Eliminations |
|
|
(2,718,130 |
) |
|
|
(2,718,130 |
) |
| |
|
$ |
15,215,256 |
|
|
$ |
14,707,659 |
|
|