Product Sales and Significant Customers and Vendors Disclosure [Text Block] |
NOTE 10 — SEGMENT AND GEOGRAPHIC DATA
We conduct our business through two reportable segments: Dental and Medical. These segments offer different products and services to different customer base. The Company provides general corporate services to its segments; however, these services are not considered when making operating decisions and assessing segment performance. These services are reported under “Corporate Services” below and these include costs associated with executive management, investor relations, patents, trademarks, licensing agreements, new instruments developments, financing activities and public company compliance.
The following tables present information about our reportable and operating segments:
| | Three months ended June 30, | | | Six months ended June 30, | |
Sales | | | | | | | | | | | | | | | | |
Net Sales: | | 2022 | | | 2021 | | | 2022 | | | 2021 | |
Dental | | $ | 1,609,768 | | | $ | 2,404,738 | | | $ | 4,303,120 | | | $ | 5,258,395 | |
Medical | | | 38,600 | | | | 21,000 | | | | 46,150 | | | | 92,050 | |
Total net sales | | $ | 1,648,368 | | | $ | 2,425,738 | | | $ | 4,349,270 | | | $ | 5,350,445 | |
Operating Income (Loss): | | 2022 | | | 2021 | | | 2022 | | | 2021 | |
Dental | | $ | 163,022 | | | $ | 524,798 | | | $ | 517,262 | | | $ | 1,650,831 | |
Medical | | | (1,615,283 | ) | | | (1,135,001 | ) | | | (2,851,374 | ) | | | (2,030,720 | ) |
Corporate | | | (1,432,618 | ) | | | (2,262,369 | ) | | | (2,465,249 | ) | | | (3,477,056 | ) |
Total operating loss | | $ | (2,884,879 | ) | | $ | (2,872,572 | ) | | $ | (4,799,361 | ) | | $ | (3,856,945 | ) |
Depreciation and Amortization: | | 2022 | | | 2021 | | | 2022 | | | 2021 | |
Dental | | $ | 893 | | | $ | 860 | | | $ | 1,786 | | | $ | 2,566 | |
Medical | | | 1,019 | | | | 1,165 | | | | 2,037 | | | | 5,016 | |
Corporate | | | 14,733 | | | | 12,809 | | | | 29,637 | | | | 28,178 | |
Total depreciation and amortization | | $ | 16,645 | | | $ | 14,834 | | | $ | 33,460 | | | $ | 35,760 | |
Income (loss) before taxes and equity in earnings of affiliates: | | 2022 | | | 2021 | | | 2022 | | | 2021 | |
Dental | | $ | 161,774 | | | $ | 598,166 | | | $ | 514,571 | | | $ | 1,723,284 | |
Medical | | | (1,616,733 | ) | | | (1,136,271 | ) | | | (2,854,273 | ) | | | (2,033,260 | ) |
Corporate | | | (1,426,370 | ) | | | (2,062,748 | ) | | | (2,460,852 | ) | | | (3,277,785 | ) |
Total loss before taxes and equity in earnings of affiliate | | $ | (2,881,329 | ) | | $ | (2,600,853 | ) | | $ | (4,800,554 | ) | | $ | (3,587,761 | ) |
Total Assets | | June 30, 2022 | | | December 31, 2021 | |
Dental | | $ | 4,947,626 | | | $ | 6,163,169 | |
Medical | | | 818,535 | | | | 1,373,511 | |
Corporate | | | 10,746,305 | | | | 12,273,064 | |
Total assets | | $ | 16,512,466 | | | $ | 19,809,744 | |
The following table presents information about our operations by geographic area for the three and six months ended June 30, 2022 and 2021. Net sales by geographic area are based on the respective locations of our subsidiaries:
| | Three months ended June 30, 2022 | | | Three months ended June 30, 2021 | |
Domestic: US | | Dental | | | Medical | | | Grand Total | | | Dental | | | Medical | | | Grand Total | |
Instruments | | $ | 155,028 | | | $ | - | | | $ | 155,028 | | | $ | 178,752 | | | $ | - | | | $ | 178,752 | |
Handpieces | | | 801,533 | | | | 18,600 | | | | 820,133 | | | | 802,916 | | | | - | | | | 802,916 | |
Accessories | | | 22,621 | | | | - | | | | 22,621 | | | | 18,974 | | | | - | | | | 18,974 | |
Grand Total | | $ | 979,182 | | | $ | 18,600 | | | $ | 997,782 | | | $ | 1,000,642 | | | $ | - | | | $ | 1,000,642 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
International: Rest of World | | | | | | | | | | | | | | | | | | | | | | | | |
Instruments | | $ | 160,814 | | | $ | - | | | $ | 160,814 | | | $ | 156,588 | | | $ | 15,500 | | | $ | 172,088 | |
Handpieces | | | 459,799 | | | | 20,000 | | | | 479,799 | | | | 709,624 | | | | 5,500 | | | | 715,124 | |
Accessories | | | 9,973 | | | | - | | | | 9,973 | | | | 12,548 | | | | - | | | | 12,548 | |
Grand Total | | $ | 630,586 | | | $ | 20,000 | | | $ | 650,586 | | | $ | 878,760 | | | $ | 21,000 | | | $ | 899,760 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
International: China | | | | | | | | | | | | | | | | | | | | | | | | |
Instruments | | $ | - | | | $ | - | | | $ | - | | | $ | 78,000 | | | $ | - | | | $ | 78,000 | |
Handpieces | | | - | | | | - | | | | - | | | | 447,336 | | | | - | | | | 447,336 | |
Accessories | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
Grand Total | | $ | - | | | $ | - | | | $ | - | | | $ | 525,336 | | | $ | - | | | $ | 525,336 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Product Sales | | $ | 1,609,768 | | | $ | 38,600 | | | $ | 1,648,368 | | | $ | 2,404,738 | | | $ | 21,000 | | | $ | 2,425,738 | |
| | Six months ended June 30, 2022 | | | Six months ended June 30, 2021 | |
Domestic: US | | Dental | | | Medical | | | Grand Total | | | Dental | | | Medical | | | Grand Total | |
Instruments | | $ | 277,996 | | | $ | - | | | $ | 277,996 | | | $ | 354,768 | | | $ | - | | | $ | 354,768 | |
Handpieces | | | 1,597,392 | | | | 26,150 | | | | 1,623,542 | | | | 1,597,900 | | | | 8,150 | | | | 1,606,050 | |
Accessories | | | 47,481 | | | | - | | | | 47,481 | | | | 36,882 | | | | - | | | | 36,882 | |
Grand Total | | $ | 1,922,869 | | | $ | 26,150 | | | $ | 1,949,019 | | | $ | 1,989,550 | | | $ | 8,150 | | | $ | 1,997,700 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
International: Rest of World | | | | | | | | | | | | | | | | | | | | | | | | |
Instruments | | $ | 614,374 | | | $ | - | | | $ | 614,374 | | | $ | 539,841 | | | $ | 58,000 | | | $ | 597,841 | |
Handpieces | | | 1,383,751 | | | | 20,000 | | | | 1,403,751 | | | | 1,663,559 | | | | 25,900 | | | | 1,689,459 | |
Accessories | | | 22,162 | | | | - | | | | 22,162 | | | | 33,109 | | | | | | | | 33,109 | |
Grand Total | | $ | 2,020,287 | | | $ | 20,000 | | | $ | 2,040,287 | | | $ | 2,236,509 | | | $ | 83,900 | | | $ | 2,320,409 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
International: China | | | | | | | | | | | | | | | | | | | | | | | | |
Instruments | | $ | - | | | $ | - | | | $ | - | | | $ | 228,000 | | | $ | - | | | $ | 228,000 | |
Handpieces | | | 359,964 | | | | - | | | | 359,964 | | | | 804,336 | | | | - | | | | 804,336 | |
Accessories | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
Grand Total | | | 359,964 | | | | - | | | $ | 359,964 | | | $ | 1,032,336 | | | $ | - | | | $ | 1,032,336 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Product Sales | | $ | 4,303,120 | | | $ | 46,150 | | | $ | 4,349,270 | | | $ | 5,258,395 | | | $ | 92,050 | | | $ | 5,350,445 | |
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