Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.2.2
Segment Information
9 Months Ended
Sep. 30, 2022
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 15 – SEGMENT INFORMATION

 

For the three and nine months ended September 30, 2022 and 2021, the Company operated in two reportable business segments - (1) the real property operating segment, and (2) the medical related consulting services 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 nine months ended September 30, 2022 and 2021 was as follows:

 

    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2022     2021     2022     2021  
Revenues                        
Real property operations   $ 317,390     $ 355,459     $ 905,842     $ 925,465  
Medical related consulting services    
-
      131,305      
-
      131,305  
Total     317,390       486,764       905,842       1,056,770  
Costs and expenses                                
Real property operations     247,152       215,622       677,303       637,663  
Medical related consulting services    
-
      102,442      
-
      102,442  
Total     247,152       318,064       677,303       740,105  
Gross profit                                
Real property operations     70,238       139,837       228,539       287,802  
Medical related consulting services    
-
      28,863      
-
      28,863  
Total     70,238       168,700       228,539       316,665  
Other operating expenses                                
Real property operations     76,299       76,422       265,251       256,675  
Medical related consulting services     96,321       32,239       289,671       361,067  
Corporate/Other     1,486,717       2,025,010       6,233,229       6,269,762  
Total     1,659,337       2,133,671       6,788,151       6,887,504  
Other (expense) income                                
Interest expense                                
Corporate/Other     (3,303,502 )     (50,248 )     (3,436,931 )     (141,528 )
Total     (3,303,502 )     (50,248 )     (3,436,931 )     (141,528 )
Other income (expense)                                
Real property operations     4       3       11       111  
Medical related consulting services     (8,848 )     (14,173 )     223,735       (49,162 )
Corporate/Other     (512,709 )     5,170       259,631       5,171  
Total     (521,553 )     (9,000 )     483,377       (43,880 )
Total other expense, net     (3,825,055 )     (59,248 )     (2,953,554 )     (185,408 )
Net (loss) income                                
Real property operations     (6,057 )     63,418       (36,701 )     31,238  
Medical related consulting services     (105,169 )     (17,549 )     (65,936 )     (381,366 )
Corporate/Other     (5,302,928 )     (2,070,088 )     (9,410,529 )     (6,406,119 )
Total   $ (5,414,154 )   $ (2,024,219 )   $ (9,513,166 )   $ (6,756,247 )

 

Identifiable long-lived tangible assets at September 30, 2022 and December 31, 2021   September 30, 2022     December 31, 2021  
Real property operations   $ 7,410,004     $ 7,537,281  
Medical related consulting services     396       742  
Corporate/Other     205,993       352,294  
Total   $ 7,616,393     $ 7,890,317  

 

Identifiable long-lived tangible assets at September 30, 2022 and December 31, 2021   September 30,
2022
    December 31,
2021
 
United States   $ 7,440,978     $ 7,583,880  
China     175,415       306,437  
Total   $ 7,616,393     $ 7,890,317