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Note 10 - Segment and Geographic Data
6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
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