Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.1
Segment Information
3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 12 – SEGMENT INFORMATION

 

For the three months ended March 31, 2020 and 2019, 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 months ended March 31, 2020 and 2019 was as follows:

  

    Three Months Ended
March 31,
 
    2020     2019  
Revenues            
Real property operations   $ 296,956     $ 266,626  
Medical related consulting services - related party     -       14,260  
Development services and sales of developed products     -       3,278  
Total     296,956       284,164  
Costs and expenses                
Real property operations     254,501       230,759  
Medical related consulting services - related party     -       13,091  
Development services and sales of developed products     -       30,307  
Total     254,501       274,157  
Gross profit (loss)                
Real property operations     42,455       35,867  
Medical related consulting services - related party     -       1,169  
Development services and sales of developed products     -       (27,029 )
Total     42,455       10,007  
Other operating expenses                
Real property operations     110,816       109,906  
Medical related consulting services - related party     155,235       179,128  
Development services and sales of developed products     35,999       220,881  
Corporate/Other     2,962,597       3,965,405  
Total     3,264,647       4,475,320  
Other income (expense)                
Interest expense                
Real property operations     -       24,658  
Corporate/Other     42,169       2,983  
Total     42,169       27,641  
Other income (expense)                
Real property operations     (935 )     8  
Medical related consulting services - related party     (5,487 )     (12,111 )
Development services and sales of developed products     2       128  
Total     (6,420 )     (11,975 )
Total other income (expense)     (48,589 )     (39,616 )
Net loss                
Real property operations     69,296       98,689  
Medical related consulting services - related party     160,722       190,070  
Development services and sales of developed products     35,997       247,782  
Corporate/Other     3,004,766       3,968,388  
Total   $ 3,270,781     $ 4,504,929  

 

Identifiable long-lived tangible assets at March 31, 2020 and December 31, 2019   March 31,
2020
    December 31,
2019
 
Real property operating   $ 7,709,622     $ 7,750,743  
Medical related consulting services     245,763       263,621  
Development services and sales of developed products     294,620       322,741  
Total   $ 8,250,005     $ 8,337,105  

 

Identifiable long-lived tangible assets at March 31, 2020 and December 31, 2019   March 31,
2020
    December 31,
2019
 
United States   $ 7,792,753     $ 7,839,093  
China     457,252       498,012  
Total   $ 8,250,005     $ 8,337,105