Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.21.1
Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information

Note 14 – Segment Information

 

The Company has identified two operating segments, diagnostic services and consumer products, based on the manner in which the Company’s CEO as CODM assesses performance and allocates resources across the organization. The operating segments are organized in a manner that depicts the difference in revenue generating synergies that include the separate processes, profit generation and growth of each segment. The diagnostic services segment provides COVID-19 diagnostic information services to a broad range of customers in the United States, including health plans, third party payers and government organizations. The consumer products segment is engaged in the research, development, manufacture, distribution, marketing and sale of OTC consumer healthcare products and dietary supplements in the United States.

 

The following table is a summary of segment information for Fiscal 2020 and Fiscal 2019. (amounts in thousands):

 

    For the Years Ended  
    December 31, 2020     December 31, 2019  
Net sales                
Diagnostic services   $ 1,277     $ -  
Consumer products     13,237       9,876  
Consolidated net sales     14,514       9,876  
Cost of sales     9,908       7,261  
Depreciation expense                
Diagnostic services     110       -  
Consumer products     16       82  
Total Depreciation expense     126       82  
Operating and other expenses     6,806       5,639  
Income (loss) from continuing operations, before income taxes                
Diagnostic services     (344 )     -  
Consumer products     1,962       2,533  
Unallocated corporate     (3,944 )     (5,639 )
Total loss from continuing operations, before income taxes     (2,326 )     (3,106 )
Income (Loss) from discontinued operations, before income taxes     201       (40 )
Net Loss   $ (2,125 )   $ (3,146 )

 

The following table is a summary of segment information for Fiscal 2020 and Fiscal 2019. (amounts in thousands):

 

    December 31,     December 31,  
    2020     2019  
             
ASSETS                
Diagnostic services   $ 13,410     $ -  
Consumer products     6,261       5,872  
Unallocated corporate     11,734       6,402  
Total assets   $ 31,405     $ 12,274