Annual report pursuant to Section 13 and 15(d)

11. SEGMENTS

v3.6.0.2
11. SEGMENTS
 12 Months Ended
Dec. 31, 2016
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 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:

 

Year Ended December 31,   Plasma Collection     Research and              
2016   Centers     Development     Corporate     Consolidated  
                         
Revenues $ 10,518,203 $ —   $ 142,834   $ 10,661,037  
Cost of product revenue   6,360,761     —     —     6,360,761  
Gross profit   4,157,442     —     142,834     4,300,276  
Loss from operations   (1,290,249 )   (7,688,238 )   (8,351,908 )   (17,330,395 )
Other expense   —     —     (2,184,756 )   (2,184,756 )
Loss before income taxes   (1,290,249 )   (7,688,238 )   (10,536,664 )   (19,515,151 )
Total assets   2,421,535     —     21,263,550     23,685,085  
Depreciation and                        
amortization expense   414,464     —     55,112     469,576  
 
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  

 

The “Corporate” column includes general and administrative overhead expenses. Total assets included in the “Corporate” column above includes assets related to corporate and support functions.