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Note 23 - Reportable Segments
12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 23.  Reportable Segments

 

The Company has two reportable segments: (i) e-Commerce Operations, which involves acquiring and leasing, primarily an e-commerce platform to collaborate with businesses to optimize their ability to sell their goods online, domestically, and internationally, and enabling customers and partners to optimize their e-commerce presence and revenue, and other related businesses and (ii) Healthcare Operations, which provides TPA, data management, COVID-19 related diagnostics and vaccinations, prescription pharmaceuticals, compounded medications, telepharmacy services, anti-retroviral medications, medication therapy management, the supply of prescription medications to long-term care facilities, medication adherence packaging, contracted pharmacy services for 340B covered entities under the 340B Drug Discount Pricing Program, and health practice risk management. 

 

The Company evaluates the performance of each of the segments based on profit or loss after general and administrative expenses. While the Company believes there are synergies between the two business segments, the segments are managed separately because each requires different business strategies.

 

The following tables present a summary of the reportable segments (in thousands):

 

For the Twelve Months Ended December 31, 2023

 

e-Commerce Operations

  

Healthcare Operations

  

Eliminations

  

Total

 

Pharmacy prescription and other revenue, net of PBM fees

 $-  $21,412  $-  $21,412 

e-Commerce revenue

  10,977   -   -   10,977 

Pharmacy 340B contract revenue

  -   5,367   -   5,367 

Revenues, net

 $10,977  $26,779  $-  $37,756 
                 

Expenses:

                

Cost of revenue

  8,122   18,323   -   26,445 

Selling, general and administrative

  6,633   3,277   -   9,910 

Salaries, wages and payroll taxes

  2,670   3,973   -   6,643 

Goodwill impairment

  -   13,895   -   13,895 

Professional fees

  1,595   506   (120)  1,981 

Depreciation and amortization

  647   1,463   -   2,110 

Total expenses

  19,667   41,437   (120)  60,984 

Loss before other (income) expense

 $(8,690) $(14,658) $120  $(23,228)
                 

For the Twelve Months Ended December 31, 2022

 

e-Commerce Operations

  

Healthcare Operations

  

Eliminations

  

Total

 

Pharmacy prescription and other revenue, net of PBM fees

 $-  $-  $-  $- 

e-Commerce revenue

  11,710   -   -   11,710 

Pharmacy 340B contract revenue

  -   -   -   - 

Revenues, net

 $11,710  $-  $-  $11,710 
                 

Expenses:

                

Cost of revenue

  9,221   -   -   9,221 

Selling, general and administrative

  5,085   -   -   5,085 

Salaries, wages and payroll taxes

  2,565   -   -   2,565 

Professional fees

  1,552   -   -   1,552 

Depreciation and amortization

  490   -   -   490 

Total expenses

  18,913   -   -   18,913 

Loss before other (income) expense

 $(7,203) $-  $-  $(7,203)

 

  

e-Commerce Operations

  

Healthcare Operations

  

Eliminations

  

Total

 

Total assets as of December 31, 2023

 $40,764  $40,384  $(16,679) $64,469 
             

Total assets as of December 31, 2022

 $28,644  $-  $-  $28,644 

  

Capital expenditures for the year ended December 31, 2023 were approximately  $109,000 for e-Commerce Operations and $538,000 for Healthcare Operations.