Annual report pursuant to Section 13 and 15(d)

11. SEGMENTS

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11. SEGMENTS
12 Months Ended
Dec. 31, 2014
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 and a facility in Marietta, Georgia which is pending regulatory licensure and certification.  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              
2014 Center     Development     Corporate     Consolidated  
                       
Revenues $ 5,839,989     $ -     $ 75,556     $ 5,915,545  
                               
Cost of product revenue   3,742,367       -       -       3,742,367  
                               
Gross profit   2,097,622       -       75,556       2,173,178  
                               
Loss from operations   (1,753,206 )     (9,517,014 )     (4,748,313 )     (16,018,533 )
                               
Other income (expense)   262       -       (1,346,616 )     (1,346,354 )
                               
Loss before income taxes   (1,752,944 )     (9,517,014 )     (6,094,929 )     (17,364,887 )
                               
Property and equipment, net   2,697,390       -       143,308       2,840,698  
                               
Depreciation and                              
amortization expense   198,244       2,729       46,879       247,852  
                               
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  

 

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.