| 6. SEGMENTS |
The Company is engaged in the development and commercialization
of human plasma and plasma-derived therapeutics. The Company also operates an FDA-licensed source plasma collection
facility located in Norcross, Georgia. The Company defines its segments as those business units for which operating
results are regularly reviewed by the chief operating decision maker (“CODM”) to analyze performance and allocate resources.
The plasma collection center segment includes the Company’s
operation in Georgia. The research and development segment includes the Company’s plasma development operations
in New Jersey.
Summarized financial information concerning reportable segments
is shown in the following table:
|
Three Months Ended
September 30, 2012
|
|
Plasma Collection Center |
|
|
Research and Development |
|
|
Corporate |
|
|
Consolidated |
|
| Revenues |
|
$ |
360,338 |
|
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
360,338 |
|
| Cost of sales |
|
|
144,691 |
|
|
|
--- |
|
|
|
--- |
|
|
|
144,691 |
|
| Gross profit |
|
|
215,647 |
|
|
|
--- |
|
|
|
--- |
|
|
|
215,647 |
|
| Loss from operations |
|
|
(273,653 |
) |
|
|
(1,940,637 |
) |
|
|
(1,034,530 |
) |
|
|
(3,248,820 |
) |
| Other income (expense) |
|
|
(2,095 |
) |
|
|
--- |
|
|
|
5,168 |
|
|
|
3,073 |
|
| Loss before income taxes |
|
|
(275,748 |
) |
|
|
(1,940,637 |
) |
|
|
(1,029,362 |
) |
|
|
(3,245,747 |
) |
| Property and equipment, net |
|
|
701,637 |
|
|
|
16,306 |
|
|
|
85,766 |
|
|
|
803,709 |
|
| Depreciation and amortization expense |
|
|
40,517 |
|
|
|
4,206 |
|
|
|
4,173 |
|
|
|
48,896 |
|
Three Months Ended
September 30, 2011
| Revenues |
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
---- |
|
| Cost of sales |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
---- |
|
| Gross profit |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
---- |
|
| Loss from operations |
|
|
(450,527 |
) |
|
|
(56,607 |
) |
|
|
(261,030 |
) |
|
|
(768,164 |
) |
| Other income (expense) |
|
|
(2,325 |
) |
|
|
---- |
|
|
|
(210,588 |
) |
|
|
(212,913 |
) |
| Loss before income taxes |
|
|
(452,852 |
) |
|
|
(56,607 |
) |
|
|
(471,618 |
) |
|
|
(981,077 |
) |
| Property and equipment, net |
|
|
869,829 |
|
|
|
33,460 |
|
|
|
11,709 |
|
|
|
914,998 |
|
| Depreciation and amortization expense |
|
|
49,500 |
|
|
|
4,400 |
|
|
|
1,000 |
|
|
|
54,900 |
|
|
Nine Months Ended
September 30, 2012
|
|
Plasma Collection Center |
|
|
Research and Development |
|
|
Corporate |
|
|
Consolidated |
|
| Revenues |
|
$ |
594,834 |
|
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
594,834 |
|
| Cost of sales |
|
|
288,761 |
|
|
|
--- |
|
|
|
--- |
|
|
|
288,761 |
|
| Gross profit |
|
|
306,073 |
|
|
|
--- |
|
|
|
--- |
|
|
|
306,073 |
|
| Loss from operations |
|
|
(1,021,688 |
) |
|
|
(2,201,131 |
) |
|
|
(2,446,043 |
) |
|
|
(5,668,862 |
) |
| Other income (expense) |
|
|
(6,465 |
) |
|
|
--- |
|
|
|
7,936 |
|
|
|
1,471 |
|
| Loss before income taxes |
|
|
(1,028,153 |
) |
|
|
(2,201,131 |
) |
|
|
(2,438,107 |
) |
|
|
(5,667,391 |
) |
| Property and equipment, net |
|
|
701,637 |
|
|
|
16,306 |
|
|
|
85,766 |
|
|
|
803,709 |
|
| Depreciation and amortization expense |
|
|
121,553 |
|
|
|
12,618 |
|
|
|
6,572 |
|
|
|
140,743 |
|
Nine Months Ended
September 30, 2011
| Revenues |
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
---- |
|
| Cost of sales |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
---- |
|
| Gross profit |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
---- |
|
| Loss from operations |
|
|
(1,191,243 |
) |
|
|
(2,377,818 |
) |
|
|
(932,248 |
) |
|
|
(4,501,309 |
) |
| Other income (expense) |
|
|
(7,155 |
) |
|
|
--- |
|
|
|
(760,975 |
) |
|
|
(768,130 |
) |
| Loss before income taxes |
|
|
(1,198,398 |
) |
|
|
(2,377,818 |
) |
|
|
(1,693,223 |
) |
|
|
(5,269,439 |
) |
| Property and equipment, net |
|
|
869,829 |
|
|
|
33,460 |
|
|
|
11,709 |
|
|
|
914,998 |
|
| Depreciation and amortization expense |
|
|
148,500 |
|
|
|
14,861 |
|
|
|
2,800 |
|
|
|
166,161 |
|
The “Corporate” column includes general and administrative
overhead expenses. The column for Research and Development expense includes the loss on sale of research and development
inventory incurred during the nine months ended September 30, 2011.
Property and equipment, net, included in the “Corporate”
column above includes assets related to corporate and support functions.
|