Note 15 - Segment Information

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 15 – SEGMENT INFORMATION

Information related to the Company’s reportable operating business segments is shown below. The Company’s reportable segments are reported in a manner consistent with the way management evaluates the businesses. The Company identifies its reportable business segments based on differences in products and services. The accounting policies of the business segments are the same as those described in the summary of significant accounting policies.

The Company has identified the following business segments:

● The Nuclear Medicine Standards segment consists of the manufacture of sources and standards associated with Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET) imaging, patient positioning, and calibration or operational testing of dose measuring equipment for the nuclear pharmacy industry and includes consolidated reporting of the wholly-owned subsidiaries RadQual and TI Services.

● The Cobalt Products segment includes management of a cobalt irradiation contract, fabrication of cobalt capsules for teletherapy or irradiation devices, and recycling of expended cobalt sources.

● The Theranostics Products Segment (formerly called the Radiochemical Products Segment) includes production and distribution of Iodine-131 generic drug product and various isotopically pure radiochemicals for medical, industrial, or research applications. These products are either directly produced by the Company or are purchased in bulk from other producers and distributed by the Company in customized packages and chemical forms tailored to customer and market demands.  Iodine-131 is the predominant radiochemical sold in this segment.

● The Fluorine Products segment historically involved the production of small-scale qualification samples of high purity fluoride gas for various industrial applications, as well as development of laboratory and analytical processes required to support the planned uranium de-conversion and fluorine extraction facility. During 2013, these testing activities were completed, and the pilot plant facility was closed.  The Company has developed or acquired all patent rights to these processes. Future work in this segment will involve license support and, as financing permits, further work related to the de-conversion facility.

The following presents certain segment information as of and for the years ended December 31, 2023 and 2022:

Sale of product	2023		2022
Theranostics products	$	6,842,898	$	6,045,767
Cobalt products		1,037,073		1,157,536
Nuclear medicine standards		4,387,414		3,978,685
Fluorine products		—		—
Total segments		12,267,385		11,181,988
Corporate revenue		—		—
Total consolidated	$	12,267,385	$	11,181,988

Depreciation and amortization	2023		2022
Theranostics products	$	25,287	$	63,493
Cobalt products		53,331		49,202
Nuclear medicine standards		114,833		114,990
Fluorine products		115,879		115,598
Total segments		309,330		343,283
Corporate depreciation and amortization		40,764		30,913
Total consolidated	$	350,094	$	374,196

Segment income (loss)	2023			2022
Theranostics products	$	3,037,375		$	4,182,151
Cobalt products		(126,504	)		(95,779	)
Nuclear medicine standards		386,592			39,223
Fluorine products		(105,099	)		(139,860	)
Total segments		3,192,364			3,985,735
Corporate loss		(4,061,380	)		(3,682,497	)
Total consolidated	$	(869,016	)	$	303,238

Expenditures for segment assets	2023		2022
Theranostics products	$	3,420	$	3,379
Cobalt products		49,774		17,105
Nuclear medicine standards		35,137		75,478
Fluorine products		—		4,100
Total segments		88,331		100,062
Corporate purchases		60,727		19,952
Total consolidated	$	149,058	$	120,014

Segment assets	2023		2022
Theranostics products	$	849,351	$	1,075,252
Cobalt products		274,513		406,629
Nuclear medicine standards		3,538,558		2,744,394
Fluorine products		4,980,118		5,147,325
Total segments		9,642,540		9,373,600
Corporate assets		7,262,547		6,870,996
Total consolidated	$	16,905,087	$	16,244,596