Annual report pursuant to Section 13 and 15(d)

11. SEGMENTS

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11. SEGMENTS
 12 Months Ended
Dec. 31, 2015
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 two 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 table:

 

Year Ended December 31,   Plasma Collection     Research and              
2015   Centers     Development     Corporate     Consolidated  
                         
Revenues   $ 7,050,283     $ -     $ 127,350     $ 7,177,633  
                                 
Cost of product revenue     4,311,461       -       -       4,311,461  
                                 
Gross profit     2,738,822       -       127,350       2,866,172  
                                 
Loss from operations     (1,879,243 )     (7,015,946 )     (6,618,618 )     (15,513,807 )
                                 
Other expense     -       -       (2,456,123 )     (2,456,123 )
                                 
Loss before income taxes     (1,879,243 )     (7,015,946 )     (9,074,741 )     (17,969,930 )
                                 
Total assets     2,719,641       -       20,994,876       23,714,517  
                                 
Depreciation and amortization expense     419,301       -       50,520       469,821  
                                 
Year Ended December 31,   Plasma Collection     Research and                  
2014   Centers     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 )
                                 
Total assets     3,073,179       -       23,950,337       27,023,516  
                                 
Depreciation and amortization expense     198,244       2,729       46,879       247,852  

 

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.