Quarterly report pursuant to Section 13 or 15(d)

7. SEGMENTS

v3.3.0.814
7. SEGMENTS
 9 Months Ended
Sep. 30, 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 FDA-licensed source plasma collection facilities located in Norcross, Georgia and in Marietta, 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 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 tables:

 

    Plasma                    
Three Months Ended   Collection   Research and              
September 30, 2015   Centers   Development     Corporate   Consolidated  
                         
Revenues   $ 1,821,229     $ -     $ 31,184     $ 1,852,413  
Cost of product revenue     1,112,782       -       -       1,112,782  
Gross profit     708,447       -       31,184       739,631  
Loss from operations     (505,711 )     (2,111,505 )     (2,046,982 )     (4,664,198 )
Other expense     -       -       (438,226 )     (438,226 )
Net loss     (505,711 )     (2,111,505 )     (2,485,208 )     (5,102,424 )
Property and equipment,                                
net     2,387,682       -       130,956       2,518,638  
Depreciation and                                
amortization expense     105,192       -       12,738       117,930  
                                 
    Plasma                          
Three Months Ended   Collection   Research and                  
September 30, 2014   Centers   Development     Corporate   Consolidated  
                                 
Revenues   $ 1,347,041     $ -     $ 18,889     $ 1,365,930  
Cost of product revenue     867,681       -       -       867,681  
Gross profit     479,360       -       18,889       498,249  
Loss from operations     (539,022 )     (1,482,929 )     (1,016,331 )     (3,038,282 )
Other expense     -       -       (346,407 )     (346,407 )
Net loss     (539,022 )     (1,482,929 )     (1,362,738 )     (3,384,689 )
Property and equipment,                                
net     2,227,587       -       153,613       2,381,200  
Depreciation and                                
amortization expense     41,135       1,110       11,954       54,199  

 

    Plasma                    
Nine Months Ended   Collection   Research and              
September 30, 2015   Centers   Development     Corporate   Consolidated  
                         
Revenues   $ 4,596,490     $ -     $ 68,962     $ 4,665,452  
Cost of product revenue     2,808,726       -       -       2,808,726  
Gross profit     1,787,764       -       68,962       1,856,726  
Loss from operations     (1,571,366 )     (5,019,138 )     (4,792,636 )     (11,383,140 )
Other income (expense)     -       -       (2,004,137 )     (2,004,137 )
Net loss     (1,571,366 )     (5,019,138 )     (6,796,773 )     (13,387,277 )
Property and equipment,                                
net     2,387,682       -       130,956       2,518,638  
Depreciation and                                
amortization expense     315,209       -       37,420       352,629  
                                 
    Plasma                          
Nine Months Ended   Collection   Research and                  
September 30, 2014   Centers   Development     Corporate   Consolidated  
                                 
Revenues   $ 4,370,141     $ -     $ 56,667     $ 4,426,808  
Cost of product revenue     2,785,526       -       -       2,785,526  
Gross profit     1,584,615       -       56,667       1,641,282  
Loss from operations     (1,057,085 )     (7,597,295 )     (3,655,208 )     (12,309,588 )
Other income (expense)     262       -       (940,480 )     (940,218 )
Net loss     (1,056,823 )     (7,597,295 )     (4,595,688 )     (13,249,806 )
Property and equipment,                                
net     2,227,587       -       153,613       2,381,200  
Depreciation and                                
amortization expense     113,292       2,729       35,041       151,062  

 

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.