Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.1
Segment Information
 3 Months Ended
Mar. 31, 2021
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 three months ended March 31, 2021 and 2020 (amounts in thousands):

 

    For the three months ended  
    March 31, 2021     March 31, 2020  
 Net revenues                
 Diagnostic services   $ 12,737     $ -  
 Consumer products     2,534       1,888  
 Consolidated net revenue     15,271       1,888  
 Cost of revenue                
 Diagnostic services     4,345       -  
 Consumer products     1,999       1,473  
 Consolidated cost of revenue     6,344       1,473  
 Depreciation and amortization expense                
 Diagnostic services     345       -  
 Consumer products     3       5  
 Total Depreciation and amortization expense     348       5  
 Operating and other expenses     7,522       1,219  
 Income (loss) from continuing operations, before income taxes                
 Diagnostic services     2,839       -  
 Consumer products     (35 )     410  
 Unallocated corporate     (1,748 )     (1,219 )
 Total income (loss) from continuing operations, before income taxes     1,057       (809 )
 Net income (loss)   $ 1,057     $ (809 )

 

The following table is a summary of segment information for three months ended March 31, 2021 and 2020 (amounts in thousands):

 

    March 31     December 31,  
    2021     2020  
             
ASSETS                
Diagnostic services   $ 40,349     $ 13,410  
Consumer products     5,589       6,261  
Unallocated corporate     39,506       11,734  
Total assets   $ 85,444     $ 31,405