Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.8.0.1
Segment Information
3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
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