Annual report pursuant to section 13 and 15(d)

11. SEGMENTS

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11. SEGMENTS
12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
11. 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 Company’s CODM, is its President and Chief Executive Officer.

 

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,   Plasma Collection     Research and              
2013   Center     Development     Corporate     Consolidated  
Revenues   $ 3,023,503     $ -     $ 44,074     $ 3,067,577  
Cost of product revenue     2,023,441       -       -       2,023,441  
Gross profit     1,000,062       -       44,074       1,044,136  
Loss from operations     (1,418,094 )     (9,303,077 )     (4,321,260 )     (15,042,431 )
Other expense     (7,582 )     -       (477,233 )     (484,815 )
Loss before income taxes     (1,425,676 )     (9,303,077 )     (4,798,493 )     (15,527,246 )
Property and equipment, net     587,032       2,729       175,538       765,299  
Depreciation and                                
amortization expense     168,686       3,238       38,709       210,633  

 

Year Ended December 31,   Plasma Collection     Research and              
2012   Center     Development     Corporate     Consolidated  
Revenues   $ 1,118,118     $ -     $ -     $ 1,118,118  
Cost of product revenue     669,056       -       -       669,056  
Gross profit     449,062       -       -       449,062  
Loss from operations     (1,297,802 )     (3,469,078 )     (3,142,289 )     (7,909,169 )
Other income (expense)     -       -       (9,759 )     (9,759 )
Loss before income taxes     (1,297,802 )     (3,469,078 )     (3,152,048 )     (7,918,928 )
Property and equipment, net     687,462       5,967       85,868       779,297  
Depreciation and                                
amortization expense     164,514       4,558       13,017       182,089  

 

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.