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.