Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.2
Segment Information
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 20 – SEGMENT INFORMATION

 

For the three and six months ended June 30, 2019 and 2018, the Company operated in three reportable business segments - (1) the real property operating segment, (2) the medical related consulting services segment, and (3) the performing development services for hospitals and other customers and sales of developed products to hospitals and other customers segment. The Company's reportable segments are strategic business units that offer different services and products. They are managed separately based on the fundamental differences in their operations. Information with respect to these reportable business segments for the three and six months ended June 30, 2019 and 2018 was as follows:

  

    Three Months   Three Months   Six Months   Six Months
    Ended   Ended   Ended   Ended
    June 30,
2019
  June 30,
2018
  June 30,
2019
  June 30,
2018
Revenues                
Real property operating   $ 264,889     $ 278,872     $ 531,515     $ 575,495  
Medical related consulting services – related party     111,434       141,996       125,694       141,996  
Development services and sales of developed products     23,404       75,225       26,682       86,515  
      399,727       496,093       683,891       804,006  
Depreciation and amortization                                
Real property operating     40,780       32,625       81,561       65,249  
Medical related consulting services     4,766       3,991       7,706       7,997  
Development services and sales of developed products     100,443       87,980       195,853       174,729  
      145,989       124,596       285,120       247,975  
Interest expense                                
Real property operating     8,819       24,932       32,877       261,918  
Medical related consulting services     -         -         -         -    
Development services and sales of developed products     -         -         -         -    
      8,819       24,932       32,877       261,918  
Net income (loss)                                
Real property operating     (3,690 )     5,617       (102,379 )     (232,083 )
Medical related consulting services     (54,627 )     16,456       (244,697 )     (157,018 )
Development services and sales of developed products     (230,406 )     (196,896 )     (478,188 )     (297,028 )
Other (a)     (4,150,100 )     (1,168,992 )     (8,118,488 )     (2,208,655 )
    $ (4,438,823 )   $ (1,343,815 )   $ (8,943,752 )   $ (2,894,784 )

    

Identifiable long-lived tangible assets at June 30, 2019 and December 31, 2018   June 30,
2019
    December 31, 2018  
Real property operating   $ 7,810,549     $ 7,898,224  
Medical related consulting services     3,417       6,852  
Development services and sales of developed products     371,489       224,364  
    $ 8,185,455     $ 8,129,440  

 

Identifiable long-lived tangible assets at June 30, 2019 and December 31, 2018   June 30,
2019
    December 31, 2018  
United States   $ 7,907,804     $ 7,898,806  
China     277,651       230,634  
    $ 8,185,455     $ 8,129,440  

 

(a) The Company does not allocate any interest expense and general and administrative expense of its being a public company activities to its reportable segments as these activities are managed at a corporate level.