Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

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SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 18 – SEGMENT INFORMATION

 

For the three and six months ended June 30, 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. For the three and six months ended June 30, 2017, 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 six months ended June 30, 2018 and 2017 was as follows:

 

    Three Months     Three Months     Six Months     Six Months  
    Ended     Ended     Ended     Ended  
    June 30, 2018     June 30, 2017     June 30, 2018     June 30, 2017  
Revenues                                
Real property operating   $ 278,872     $ 222,254     $ 575,495     $ 222,254  
Medical related consulting services – related parties     141,996       152,497       141,996       218,783  
Development services and sales of developed products     75,225             86,515        
      496,093       374,751       804,006       441,037  
Depreciation and amortization                                
Real property operating     32,625       32,943       65,249       32,943  
Medical related consulting services     3,991       1,187       7,997       1,213  
Development services and sales of developed products     87,980             174,729        
      124,596       34,130       247,975       34,156  
Interest expense                                
Real property operating     24,932       42,000       261,918       42,000  
Medical related consulting services                        
Development services and sales of developed products                        
      24,932       42,000       261,918       42,000  
Net income (loss)                                
Real property operating     5,617       (1,234 )     (232,083 )     (1,234 )
Medical related consulting services     16,456       54,782       (157,018 )     (161,789 )
Development services and sales of developed products     (196,896 )           (297,028 )      
Other (a)     (1,168,992 )     (484,056 )     (2,208,655 )     (816,818 )
    $ (1,343,815 )   $ (430,508 )   $ (2,894,784 )   $ (979,841 )

 

Identifiable long-lived tangible assets at June 30, 2018 and December 31, 2017   June 30, 2018     December 31, 2017  
Real property operating   $ 7,745,277     $ 7,645,371  
Medical related consulting services     12,507       20,558  
Development services and sales of developed products     110,743       5,857  
    $ 7,868,527     $ 7,671,786  

 

Identifiable long-lived tangible assets at June 30, 2018 and December 31, 2017   June 30, 2018     December 31, 2017  
United States   $ 7,746,017     $ 7,646,270  
China     122,510       25,516  
    $ 7,868,527     $ 7,671,786  

 

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