| SEGMENT INFORMATION |
NOTE 12 – SEGMENT
INFORMATION
For the three and six months ended June 30, 2020,
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.
Due to the winding down of the development services
and sales of developed products segment in 2020, the Company no longer has any material revenues or expenses in this segment. As
a result, commencing from the first quarter of 2021, the Company’s chief operating decision maker no longer reviews development
services and sales of developed products operating results.
For the three and six months ended June 30, 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 six months ended June 30, 2021 and 2020 was as follows:
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
| Real property operations |
|
$ |
280,232 |
|
|
$ |
301,267 |
|
|
$ |
570,006 |
|
|
$ |
598,223 |
|
| Costs and expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Real property operations |
|
|
205,147 |
|
|
|
272,764 |
|
|
|
422,041 |
|
|
|
527,265 |
|
| Gross profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Real property operations |
|
|
75,085 |
|
|
|
28,503 |
|
|
|
147,965 |
|
|
|
70,958 |
|
| Other operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Real property operations |
|
|
78,830 |
|
|
|
103,218 |
|
|
|
180,253 |
|
|
|
214,034 |
|
| Medical related consulting services - related parties |
|
|
167,275 |
|
|
|
175,891 |
|
|
|
328,828 |
|
|
|
331,126 |
|
| Development services and sales of developed products |
|
|
- |
|
|
|
30,240 |
|
|
|
- |
|
|
|
66,239 |
|
| Corporate/Other |
|
|
2,131,260 |
|
|
|
2,721,981 |
|
|
|
4,244,752 |
|
|
|
5,684,578 |
|
| Total |
|
|
2,377,365 |
|
|
|
3,031,330 |
|
|
|
4,753,833 |
|
|
|
6,295,977 |
|
| Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate/Other |
|
|
(46,131 |
) |
|
|
(42,469 |
) |
|
|
(91,280 |
) |
|
|
(84,638 |
) |
| Total |
|
|
(46,131 |
) |
|
|
(42,469 |
) |
|
|
(91,280 |
) |
|
|
(84,638 |
) |
| Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Real property operations |
|
|
4 |
|
|
|
4 |
|
|
|
108 |
|
|
|
(931 |
) |
| Medical related consulting services - related parties |
|
|
(16,503 |
) |
|
|
(11,091 |
) |
|
|
(34,989 |
) |
|
|
(16,578 |
) |
| Development services and sales of developed products |
|
|
- |
|
|
|
1 |
|
|
|
- |
|
|
|
3 |
|
| Corporate/Other |
|
|
- |
|
|
|
- |
|
|
|
1 |
|
|
|
- |
|
| Total |
|
|
(16,499 |
) |
|
|
(11,086 |
) |
|
|
(34,880 |
) |
|
|
(17,506 |
) |
| Total other expense, net |
|
|
(62,630 |
) |
|
|
(53,555 |
) |
|
|
(126,160 |
) |
|
|
(102,144 |
) |
| Net loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Real property operations |
|
|
3,741 |
|
|
|
74,711 |
|
|
|
32,180 |
|
|
|
144,007 |
|
| Medical related consulting services - related parties |
|
|
183,778 |
|
|
|
186,982 |
|
|
|
363,817 |
|
|
|
347,704 |
|
| Development services and sales of developed products |
|
|
- |
|
|
|
30,239 |
|
|
|
- |
|
|
|
66,236 |
|
| Corporate/Other |
|
|
2,177,391 |
|
|
|
2,764,450 |
|
|
|
4,336,031 |
|
|
|
5,769,216 |
|
| Total |
|
$ |
2,364,910 |
|
|
$ |
3,056,382 |
|
|
$ |
4,732,028 |
|
|
$ |
6,327,163 |
|
| Identifiable long-lived tangible assets at June 30, 2021 and December 31, 2020 |
|
June 30,
2021 |
|
|
December 31,
2020 |
|
| Real property operations |
|
$ |
7,623,260 |
|
|
$ |
7,697,473 |
|
| Medical related consulting services |
|
|
196,347 |
|
|
|
223,459 |
|
| Development services and sales of developed products |
|
|
- |
|
|
|
243,869 |
|
| Corporate/Other |
|
|
236,172 |
|
|
|
- |
|
| Total |
|
$ |
8,055,779 |
|
|
$ |
8,164,801 |
|
| Identifiable long-lived tangible assets at June 30, 2021 and December 31, 2020 |
|
June 30,
2021 |
|
|
December 31,
2020 |
|
| United States |
|
$ |
7,680,296 |
|
|
$ |
7,764,947 |
|
| China |
|
|
375,483 |
|
|
|
399,854 |
|
| Total |
|
$ |
8,055,779 |
|
|
$ |
8,164,801 |
|
|