Annual report pursuant to section 13 and 15(d)

12. SEGMENTS

v2.4.0.6
12. SEGMENTS
 12 Months Ended
Dec. 31, 2012
Segment Reporting [Abstract]  
12. SEGMENTS

12.      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 whose 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:

 

Year ended December 31, 2012   Plasma Collection Center    

Research

and

Development

     Corporate     Consolidated  
Revenues   $ 1,118,118     $ ---     $ ---     $ 1,118,118  
Loss from operations     (1,297,802 )     (3,469,078 )     (3,142,289 )     (7,909,169 )
Interest expense, net     ---       ---       (9,759 )     (9,759 )
Loss before income taxes     (1,297,802 )     (3,469,078 )     (3,152,048 )     (7,918,928 )
Property and equipment at cost, net     687,462       5,967       85,868       779,297  
Depreciation and amortization expense     164,514       4,558       13,017       182,089  
Year ended December 31, 2011   Plasma Collection Center    

Research

and

Development

     Corporate     Consolidated  
Revenues   $ 761,042     $ ---     $ ---     $ 761,042  
Loss from operations     (609,676 )     (2,581,386 )     (1,431,894 )     (4,622,956 )
Interest expense, net     ---       ---       (1,601,269 )     (1,601,269 )
Loss before income taxes     (609,676 )     (2,581,386 )     (3,033,163 )     (6,224,225 )
Property and equipment at cost, net     822,265       28,924       9,743       860,932  
Depreciation and amortization expense     197,274       18,144       4,134       219,552  

 

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 year ended December 31, 2011.

 

Property and equipment, net, included in the “Corporate” column above includes assets related to corporate and support functions.