Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.2
Segment Information
6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 12 – SEGMENT INFORMATION

 

For the three and six months ended June 30, 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 and six months ended June 30, 2020 and 2019 was as follows:

 

    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2020     2019     2020     2019  
Revenues                        
Real property operations   $ 301,267     $ 264,889     $ 598,223     $ 531,515  
Medical related consulting services - related parties     -       111,434       -       125,694  
Development services and sales of developed products     -       23,404       -       26,682  
Total     301,267       399,727       598,223       683,891  
Costs and expenses                                
Real property operations     272,764       192,676       527,265       423,435  
Medical related consulting services - related parties     -       95,375       -       108,466  
Development services and sales of developed products     -       31,784       -       62,091  
Total     272,764       319,835       527,265       593,992  
Gross profit (loss)                                
Real property operations     28,503       72,213       70,958       108,080  
Medical related consulting services - related parties     -       16,059       -       17,228  
Development services and sales of developed products     -       (8,380 )     -       (35,409 )
Total     28,503       79,892       70,958       89,899  
Other operating expenses                                
Real property operations     103,218       67,691       214,034       177,597  
Medical related consulting services - related parties     175,891       60,943       331,126       240,071  
Development services and sales of developed products     30,240       222,077       66,239       442,958  
Corporate/Other     2,721,981       4,072,933       5,684,578       8,038,338  
Total     3,031,330       4,423,644       6,295,977       8,898,964  
Other income (expense)                                
Interest expense                                
Real property operations     -       (8,219 )     -       (32,877 )
Corporate/Other     (42,469 )     (13,242 )     (84,638 )     (16,225 )
Total     (42,469 )     (21,461 )     (84,638 )     (49,102 )
Other income (expense)                                
Real property operations     4       7       (931 )     15  
Medical related consulting services - related parties     (11,091 )     (9,743 )     (16,578 )     (21,854 )
Development services and sales of developed products     1       51       3       179  
Corporate/Other     -       (63,925 )     -       (63,925 )
Total     (11,086 )     (73,610 )     (17,506 )     (85,585 )
Total other income (expense)     (53,555 )     (95,071 )     (102,144 )     (134,687 )
Net loss                                
Real property operations     74,711       3,690       144,007       102,379  
Medical related consulting services - related parties     186,982       54,627       347,704       244,697  
Development services and sales of developed products     30,239       230,406       66,236       478,188  
Corporate/Other     2,764,450       4,150,100       5,769,216       8,118,488  
Total   $ 3,056,382     $ 4,438,823     $ 6,327,163     $ 8,943,752  

 

Identifiable long-lived tangible assets at June 30, 2020 and December 31, 2019   June 30,
2020
    December 31,
2019
 
Real property operating   $ 7,668,501     $ 7,750,743  
Medical related consulting services     232,914       263,621  
Development services and sales of developed products     273,559       322,741  
Total   $ 8,174,974     $ 8,337,105  

 

Identifiable long-lived tangible assets at June 30, 2020 and December 31, 2019   June 30,
2020
    December 31,
2019
 
United States   $ 7,746,413     $ 7,839,093  
China     428,561       498,012  
Total   $ 8,174,974     $ 8,337,105