Quarterly report pursuant to sections 13 or 15(d)

7. SEGMENTS

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7. SEGMENTS
3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
7. 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 Company’s CODM, is its President and Chief Executive Officer.

 

The Company has two operating segments, (1) the plasma collection center segment, which includes the Company’s operation in Georgia; and (2) the research and development segment, which includes the Company’s plasma development operations in New Jersey.

 

Summarized financial information concerning reportable segments is shown in the following table:

                         
    Plasma     Research              
Three Months Ended   Collection     and              
March 31, 2014   Center     Development     Corporate     Consolidated  
Revenues   $ 1,541,670     $ -     $ 18,889     $ 1,560,559  
Cost of product revenue     977,030       -       -       977,030  
Gross profit     564,640       -       18,889       583,529  
Loss from operations     (237,829 )     (4,330,457 )     (1,115,700 )     (5,683,986 )
Other expense     (1,730 )     -       (218,156 )     (219,886 )
Net loss     (239,559 )     (4,330,457 )     (1,333,856 )     (5,903,872 )
Property and equipment, net     655,342       1,920       171,686       828,948  
Depreciation and                                
amortization expense     35,983       809       11,507       48,299  

 

 

 

Three Months Ended   Collection     Research and              
March 31, 2013   Center     Development     Corporate     Consolidated  
Revenues   $ 792,935     $ -     $ -     $ 792,935  
Cost of product revenue     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 )
Net loss     (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  

 

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.