Quarterly report pursuant to Section 13 or 15(d)

7. SEGMENTS

v2.4.1.9
7. SEGMENTS
3 Months Ended
Mar. 31, 2015
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 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 operations 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:

 

    Plasma                    
Three Months Ended   Collection     Research and              
March 31, 2015   Center     Development     Corporate     Consolidated  
                         
Revenues   $ 1,484,217     $ -     $ 18,889     $ 1,503,106  
                                 
Cost of product revenue     909,629       -       -       909,629  
                                 
Gross profit     574,588       -       18,889       593,477  
                                 
Loss from operations     (473,506 )     (1,401,723 )     (1,327,108 )     (3,202,337 )
                                 
Other expense     -       -       (403,198 )     (403,198 )
                                 
Net loss     (473,506 )     (1,401,723 )     (1,730,306 )     (3,605,535 )
                                 
Property and equipment, net     2,592,473       -       145,289       2,737,762  
                                 
Depreciation and                                
amortization expense     104,917       -       12,205       117,122  
                           
      Plasma                          
Three Months Ended     Collection       Research 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  

 

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.