Segment Reporting |
Note
18 – Segment Reporting
ASC
Topic 280, Segment Reporting, requires use of the “management approach” model for segment reporting. The management
approach model is based on the way a company’s management organizes segments within the Company for making operating decisions
and assessing performance. The Company has two reportable segments: healthcare services and product sales.
The
following tables summarize the Company’s segment information for the years ended August 31, 2023 and 2022:
Schedule of Segment Reporting Information
| |
2023 | | |
2022 | |
| |
Years Ended August 31, | |
| |
2023 | | |
2022 | |
| |
| | |
| |
Sales | |
| | | |
| | |
Healthcare services | |
$ | 8,226,674 | | |
$ | 8,397,857 | |
Product Sales | |
| 4,335,645 | | |
| 3,336,899 | |
Corporate | |
| 9,700 | | |
| 3,181 | |
Sales | |
$ | 12,572,019 | | |
$ | 11,737,937 | |
| |
| | | |
| | |
Gross profit | |
| | | |
| | |
Healthcare services | |
$ | 2,998,315 | | |
$ | 3,448,233 | |
Product Sales | |
| 1,944,701 | | |
| 1,347,825 | |
Corporate | |
| 9,699 | | |
| 3,180 | |
Gross profit | |
$ | 4,952,715 | | |
$ | 4,799,238 | |
| |
| | | |
| | |
Loss from operations | |
| | | |
| | |
Healthcare services | |
$ | (413,670 | ) | |
$ | (1,506,135 | ) |
Product Sales | |
| (2,958,225 | ) | |
| (4,940,559 | ) |
Corporate | |
| (5,181,267 | ) | |
| (18,579,983 | ) |
Income (loss) from operations | |
$ | (8,553,162 | ) | |
$ | (25,026,677 | ) |
| |
| | | |
| | |
Depreciation and amortization | |
| | | |
| | |
Healthcare services | |
$ | 132,539 | | |
$ | 141,529 | |
Product Sales | |
| 1,052,406 | | |
| 1,337,324 | |
Corporate | |
| 1,117,809 | | |
| 1,540,400 | |
Depreciation and amortization | |
$ | 2,302,754 | | |
$ | 3,019,253 | |
| |
| | | |
| | |
Capital expenditures | |
| | | |
| | |
Healthcare services | |
$ | - | | |
$ | - | |
Product Sales | |
| 49,224 | | |
| 3,600 | |
Corporate | |
| - | | |
| - | |
Capital expenditures | |
$ | 49,224 | | |
$ | 3,600 | |
| |
| | | |
| | |
Interest expenses | |
| | | |
| | |
Healthcare services | |
$ | 92,327 | | |
$ | 76,255 | |
Product Sales | |
| 55,441 | | |
| 962,480 | |
Corporate | |
| 212,803 | | |
| 555,540 | |
Interest expenses | |
$ | 360,571 | | |
$ | 1,594,275 | |
| |
| | | |
| | |
Net loss | |
| | | |
| | |
Healthcare services | |
$ | (496,970 | ) | |
$ | (1,408,891 | ) |
Product Sales | |
| (3,193,859 | ) | |
| (7,305,571 | ) |
Corporate | |
| (9,578,615 | ) | |
| (24,330,716 | ) |
Net loss | |
$ | (13,269,444 | ) | |
$ | (33,045,178 | ) |
| |
| | | |
| | |
Total assets | |
| | | |
| | |
Healthcare services | |
$ | 5,158,851 | | |
$ | 5,917,403 | |
Product Sales | |
| 17,993,652 | | |
| 19,595,269 | |
Corporate | |
| 12,410,544 | | |
| 15,360,168 | |
| |
$ | 35,563,047 | | |
$ | 40,872,840 | |
| |
| | | |
| | |
Accounts receivable | |
| | | |
| | |
Healthcare services | |
$ | 697,440 | | |
$ | 585,492 | |
Product Sales | |
| 765,388 | | |
| 419,417 | |
Corporate | |
| 4,200 | | |
| 12,496 | |
| |
$ | 1,467,028 | | |
$ | 1,017,405 | |
| |
| | | |
| | |
Intangible assets | |
| | | |
| | |
Healthcare services | |
$ | 120,163 | | |
$ | 159,453 | |
Product Sales | |
| 3,818,313 | | |
| 5,283,333 | |
Corporate | |
| 12,280,063 | | |
| 13,397,832 | |
| |
$ | 16,218,539 | | |
$ | 18,840,619 | |
| |
| | | |
| | |
Goodwill | |
| | | |
| | |
Healthcare services | |
$ | 520,821 | | |
$ | 537,537 | |
Product Sales | |
| 7,061,662 | | |
| 7,288,307 | |
Corporate | |
| - | | |
| - | |
| |
$ | 7,582,483 | | |
$ | 7,825,844 | |
|