Quarterly report pursuant to sections 13 or 15(d)

6. SEGMENTS

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6. SEGMENTS
3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
6. SEGMENTS
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 March 31, 2013   Plasma Collection Center     Research and Development     Corporate     Consolidated  
                         
Revenues   $ 792,935     $ -     $ -     $ 792,935  
                                 
Cost of sales     529,046       -       -       529,046  
                                 
Gross profit     263,889       -       -       263,889  
                                 
Loss from operations     (251,399 )     (1,467,584 )     (1,431,106 )     (3,150,089 )
                                 
Other expense     -       -       (91,558 )     (91,558 )
                                 
Loss before income taxes     (251,399 )     (1,467,584 )     (1,522,664 )     (3,241,647 )
                                 
Property and equipment, net     708,994       5,131       87,632       801,757  
                                 
Depreciation and amortization expense     36,833       836       5,944       43,613  

  

 

Three Months Ended March 31, 2012   Plasma Collection Center     Research and Development     Corporate     Consolidated  
                         
Revenues   $ 4,400     $ -     $ -     $ 4,400  
                                 
Cost of sales     2,200       -       -       2,200  
                                 
Gross profit     2,200       -       -       2,200  
                                 
Loss from operations     (457,093 )     (81,820 )     (674,589 )     (1,213,502 )
                                 
Other expense     -       -       (1,427 )     (1,427 )
                                 
Loss before income taxes     (457,093 )     (81,820 )     (676,016 )     (1,214,929 )
                                 
Property and equipment, net     781,765       24,724       8,708       815,197  
                                 
Depreciation and amortization expense     40,500       4,200       1,035       45,735  

 

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