Segment Information

6 Months Ended

Jun. 30, 2014

Segment Information.

Segment Information

18. Segment Information

In 2013, ProElite was considered to be an operating segment pursuant to ASC Topic 280 “Segment Reporting” since each was budgeted separately and tracked separately to provide the chief operating decision maker information to assess and manage ProElite, Stratus White and Hygeia/Canterbury.  The Company suspended operations of ProElite effective June 30, 2013. Following the repositioning of the Company as a specialty biopharmaceutical company, the Board of Directors voted to discontinue operations of ProElite effective March 31, 2014.  The following segment information is presented to provide a comparison for the three and six months ended June 30, 2014 and 2013.

A summary of results by segments is as follows:

	Three Months Ended June 30, 2014 ($000)										Three Months Ended June 30, 2013 ($000)
	Bio-			ProElite							Bio-		ProElite
	Pharma			(Discont.)		Other		Total			Pharma		(Discont.)			Other			Total
Revenues	$	—		$	—	$	—	$	—		$	—	$			$	—		$	—
Cost of sales	—			—		—		—			—		—			—			—
Gross margin	—			—		—		—			—					—			—
Depreciation and amortization	610			—		—		610			—					7			7
Segment profit	(610		)	—		—		(610		)	—		—			(7		)	(7		)
Operating expenses	3,897			—		—		3,897			—		—			8,090			8,090
Other (income)/expenses	(52		)	—		—		(52		)	—					(1,356		)	(1,356		)
Impact of derivative securities	—			—		—		—			—		—			(9,217		)	(9,217		)
Net income (loss) from continuing ops.	(4,455		)	—		—		(4,455		)	—					2,476			2,476
Loss from discontinued ops.	—			—		—		—			—		(129		)	—			(129		)
Preferred dividends	—			—		—		—			—		—			47			47
Net income (loss) attributable to common shareholders	$	(4,455	)	$	—	$	—	$	(4,455	)	$	—	$	(129	)	$	2,429		$	2,300

	Six Months Ended June 30, 2014 ($000)										Six Months Ended June 30, 2013 ($000)
	Bio-			ProElite							Bio-		ProElite
	Pharma			(Discont.)		Other		Total			Pharma		(Discont.)			Other			Total
Revenues	$	—		$	—	$	—	$	—		$	—	$			$	—		$	—
Cost of sales	—			—		—		—			—		—			—			—
Gross margin	—			—		—		—			—					—			—
Depreciation and amortization	1,089			—		—		1,089			—					17			17
Segment profit	(1,089		)	—		—		(1,089		)	—		—			(17		)	(17		)
Operating expenses	4,790			—		—		4,790			—		—			10,139			10,139
Other (income)/expenses	(44		)	—		—		(44		)	—					107			107
Impact of derivative securities	—			—		—		—			—		—			(10,390		)	(10,390		)
Net income (loss) from continuing ops.	(5,835		)	—		—		(5,835		)	—					(127		)	(127		)
Loss from discontinued ops.	—			—		—		—			—		(256		)	—			(256		)
Preferred dividends	—			—		—		—			—		—			172			172
Net loss attributable to common shareholders	$	(5,835	)	$	—	$	—	$	(5,835	)	$	—	$	(256	)	$	(45	)	$	(301	)
Assets at end of period	$	54,529		$	—	$	—	$	54,529		$	—	$	26		$	172		$	197
Liabilities at end of period	$	9,170		$	62	$	—	$	9,232		$	—	$	1,517		$	7,250		$	8,767