| 13. 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 Florida, acquired on June 6, 2017. The Plasma Collection
Centers segment consists of one FDA-licensed source plasma collection facility for the year ended December 31, 2019, and three
FDA-licensed source plasma collection facilities for the year ended December 31, 2018 (see Note 3). 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:
| Year Ended December 31, 2019 |
| |
|
ADMA
BioManufacturing |
|
Plasma
Collection
Centers |
|
Corporate |
|
Consolidated |
| |
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
22,176,699 |
|
|
$ |
7,029,550 |
|
|
$ |
142,834 |
|
|
$ |
29,349,083 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of product revenue |
|
|
33,306,858 |
|
|
|
6,197,380 |
|
|
|
— |
|
|
|
39,504,238 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
|
|
(29,360,522 |
) |
|
|
(1,337,459 |
) |
|
|
(10,726,346 |
) |
|
|
(41,424,327 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest and other expense, net |
|
|
(1,091,993 |
) |
|
|
13,521 |
|
|
|
(7,341,444 |
) |
|
|
(8,419,916 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
|
(30,452,515 |
) |
|
|
10,203,483 |
|
|
|
(28,030,285 |
) |
|
|
(48,279,317 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditures |
|
|
3,772,742 |
|
|
|
39,096 |
|
|
|
— |
|
|
|
3,811,838 |
|
| Depreciation and amortization expense |
|
|
2,789,498 |
|
|
|
455,412 |
|
|
|
13,238 |
|
|
|
3,258,148 |
|
| Total assets |
|
|
100,461,050 |
|
|
|
3,967,860 |
|
|
|
22,661,815 |
|
|
|
127,090,725 |
|
| Year Ended December 31, 2018 |
| |
|
ADMA
BioManufacturing |
|
Plasma
Collection
Centers |
|
Corporate |
|
Consolidated |
| |
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
6,797,548 |
|
|
$ |
10,044,908 |
|
|
$ |
142,834 |
|
|
$ |
16,985,290 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of product revenue |
|
|
35,485,273 |
|
|
|
6,709,362 |
|
|
|
— |
|
|
|
42,194,635 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
|
|
(45,633,715 |
) |
|
|
(4,470,073 |
) |
|
|
(10,185,156 |
) |
|
|
(60,288,944 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest and other expense, net |
|
|
(1,077,624 |
) |
|
|
(967 |
) |
|
|
(4,375,910 |
) |
|
|
(5,454,501 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
|
(46,711,339 |
) |
|
|
(4,471,040 |
) |
|
|
(14,561,066 |
) |
|
|
(65,743,445 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditures |
|
|
1,580,684 |
|
|
|
514,916 |
|
|
|
— |
|
|
|
2,095,600 |
|
| Depreciation and amortization expense |
|
|
2,608,776 |
|
|
|
814,768 |
|
|
|
22,854 |
|
|
|
3,446,398 |
|
| Total assets |
|
|
57,818,051 |
|
|
|
5,443,032 |
|
|
|
25,615,438 |
|
|
|
88,876,521 |
|
|