Industry Segments and Geographic Information

12 Months Ended

Aug. 31, 2015

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

13. Industry Segments and Geographic Information

The Industry Segment “U.S. Division” comprises of the Company’s Pasadena facility. The Company at the present time has the U.S. Division and the Corporate Division.

Certain previously reported financial information has been reclassified to conform to the current year’s presentation.

Corporate Division

The Company formed Sino Bond to hold and manage investments in Hong Kong. Sino Bond invests in corporate debt instruments and equity securities in Europe and Asia, including initial public offerings and pre-initial public offerings. The Company invests in various marketable securities. During the fiscal year ended August 31, 2015, one particular security was called on which the Company had a gain of approximately $2.1 million. As of August 31, 2015, the balance of these securities is valued at approximately $10.9 million. During the fiscal year ended August 31, 2014, the Company also traded in initial public offerings of equity securities on the Hong Kong Stock Exchange and had a net gain of $161,864 in these securities. During the first quarter of the fiscal year 2014, the Company sold all of its trading securities and has not held any such securities since November 30, 2013.

 

The Corporate Division includes interest and other income related to its investments in securities, corporate personnel compensation expenses, and general and administrative expenses. Such expenses and income are not allocated to our operating division, as they relate to our general corporate activities.

We generally evaluate performance based on profit or loss from operations before income taxes and non-recurring charges and other criteria. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. There are no transfers between segments.

Summarized financial information concerning the business segments is as follows:

	Year Ended August 31,
	2015		2014
Revenues from external customers
Net patient service revenues
U.S. Division	$	6,997,884	$	10,218,309
Corporate		—		—
Consolidated	$	6,997,884	$	10,218,309
Loss before income taxes
U.S. Division	$	(3,379,553)	$	(151,547)
Corporate		(458,588)		(3,641,420)
Consolidated	$	(3,838,141)	$	(3,792,967)

	August 31,
	2015		2014
Total Assets
U.S. Division	$	16,085,709	$	15,967,472
Corporate		19,994,556		31,793,055
Consolidated	$	36,080,265	$	47,760,527