| 10. SEGMENTS |
The
Company is engaged in the manufacture, marketing and development of specialty plasma-derived biologics. The Company’s ADMA
BioManufacturing segment reflects the Company’s immune globulin manufacturing and development operations in Boca Raton,
FL, acquired on June 6, 2017 (see Note 1). The Plasma Collection Centers segment consists of one and three FDA-licensed source
plasma collection facilities located in Georgia for the six months ended June 30, 2019 and 2018, respectively. The Corporate segment
includes general and administrative overhead expenses. 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. Summarized
financial information concerning reportable segments is shown in the following tables:
| Three Months Ended June 30, 2019 |
| |
|
ADMA BioManufacturing |
|
Plasma Collection Centers |
|
Corporate |
|
Consolidated |
| |
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
4,002,445 |
|
|
$ |
2,522,788 |
|
|
$ |
35,709 |
|
|
$ |
6,560,942 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of product revenue |
|
|
8,170,381 |
|
|
|
2,320,855 |
|
|
|
— |
|
|
|
10,491,236 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
|
|
(8,671,783 |
) |
|
|
(392,181 |
) |
|
|
(2,274,710 |
) |
|
|
(11,338,674 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest and other expense, net |
|
|
(246,603 |
) |
|
|
(59 |
) |
|
|
(1,626,536 |
) |
|
|
(1,873,198 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
|
(8,918,386 |
) |
|
|
(392,240 |
) |
|
|
(3,901,246 |
) |
|
|
(13,211,872 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
688,848 |
|
|
|
113,958 |
|
|
|
3,287 |
|
|
|
806,093 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
|
67,236,416 |
|
|
|
3,835,999 |
|
|
|
72,201,705 |
|
|
|
143,274,120 |
|
| Three Months Ended June 30, 2018 |
| |
|
ADMA BioManufacturing |
|
Plasma Collection Centers |
|
Corporate |
|
Consolidated |
| |
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
2,144,724 |
|
|
$ |
2,476,117 |
|
|
$ |
35,709 |
|
|
$ |
4,656,550 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of product revenue |
|
|
7,965,681 |
|
|
|
1,679,981 |
|
|
|
— |
|
|
|
9,645,662 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
|
|
(9,918,243 |
) |
|
|
(941,993 |
) |
|
|
(2,557,145 |
) |
|
|
(13,417,381 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest and other expense, net |
|
|
(237,161 |
) |
|
|
(436 |
) |
|
|
(1,092,853 |
) |
|
|
(1,330,450 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
|
(10,155,404 |
) |
|
|
(942,429 |
) |
|
|
(3,649,998 |
) |
|
|
(14,747,831 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
639,300 |
|
|
|
200,598 |
|
|
|
6,001 |
|
|
|
845,899 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
|
54,297,915 |
|
|
|
5,438,645 |
|
|
|
58,015,432 |
|
|
|
117,751,992 |
|
| Six Months Ended June 30, 2019 |
| |
|
ADMA BioManufacturing |
|
Plasma Collection Centers |
|
Corporate |
|
Consolidated |
| |
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
5,346,428 |
|
|
$ |
4,671,686 |
|
|
$ |
71,417 |
|
|
$ |
10,089,531 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of product revenue |
|
|
16,110,727 |
|
|
|
3,785,688 |
|
|
|
— |
|
|
|
19,896,415 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
|
|
(19,292,591 |
) |
|
|
(362,601 |
) |
|
|
(4,891,898 |
) |
|
|
(24,547,090 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest and other (expense) income, net |
|
|
(416,216 |
) |
|
|
13,560 |
|
|
|
(2,895,007 |
) |
|
|
(3,297,663 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gain on transfer of plasma center assets |
|
|
— |
|
|
|
11,527,421 |
|
|
|
— |
|
|
|
11,527,421 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss on extinguishment of debt |
|
|
— |
|
|
|
— |
|
|
|
(9,962,495 |
) |
|
|
(9,962,495 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss) income |
|
|
(19,708,807 |
) |
|
|
11,178,380 |
|
|
|
(17,749,400 |
) |
|
|
(26,279,827 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
1,376,240 |
|
|
|
228,199 |
|
|
|
6,983 |
|
|
|
1,611,422 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditures |
|
|
224,440 |
|
|
|
21,235 |
|
|
|
— |
|
|
|
245,675 |
|
| Six Months Ended June 30, 2018 |
| |
|
ADMA BioManufacturing |
|
Plasma Collection Centers |
|
Corporate |
|
Consolidated |
| |
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
3,810,967 |
|
|
$ |
4,816,172 |
|
|
$ |
71,417 |
|
|
$ |
8,698,556 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of product revenue |
|
|
18,663,323 |
|
|
|
3,225,087 |
|
|
|
— |
|
|
|
21,888,410 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
|
|
(22,642,709 |
) |
|
|
(1,980,817 |
) |
|
|
(5,326,358 |
) |
|
|
(29,949,884 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest and other expense, net |
|
|
(477,214 |
) |
|
|
(871 |
) |
|
|
(2,142,004 |
) |
|
|
(2,620,089 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
|
(23,119,923 |
) |
|
|
(1,981,688 |
) |
|
|
(7,468,362 |
) |
|
|
(32,569,973 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
1,271,131 |
|
|
|
389,512 |
|
|
|
14,796 |
|
|
|
1,675,439 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditures |
|
|
591,665 |
|
|
|
454,710 |
|
|
|
— |
|
|
|
1,046,375 |
|
|