Note 14 - Segments

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 14 – SEGMENTS

The Company has determined its operating segments in accordance with ASC 280 – Segment Reporting. Factors used to determine the Company’s reportable segments include the availability of separate financial statements, the existence of locally based leadership across geographic regions, the economic factors affecting each segment, and the evaluation of operating results at the segment level. The Chief Operating Decision Maker (“CODM”) allocates the Company’s resources for each of the operating segments and evaluates their relative performance. Each operating segment listed below has separate financial statements and locally based leadership that are evaluated based on the results of their respective segments. It should be noted that the operating segments below have different products and services. The financial information is consolidated and evaluated regularly by the CODM in assessing performance and allocating resources. As of January 1, 2023, the Company changed its reportable segments to align with its business areas. The Company has retrospectively revised the reported segment information for all periods presented for consistency.

The Company has three reportable segments, which have been delineated by location and business area:

● Pittsburgh segment: provides services that include the application of AI using its proprietary biobank of 150,000+ tumor samples. Pittsburgh also creates proprietary 3D culture models used in drug development.

● Birmingham segment: provides contract services and research focused on solubility improvements, stability studies, and protein production.

● Eagan segment: produces the FDA-cleared STREAMWAY System and associated products for automated medical fluid waste management and patient-to-drain medical fluid disposal.

See discussion of revenue recognition in Note 1 – Summary of Significant Accounting Policies for a description of the products and services recognized in each segment. The segment revenues and segment net losses for the year ended December 31, 2023, and 2022 are included in the table below. All revenues are earned from external customers.

The tables below summarize the Company’s segment reporting as of and for years ended December 31, 2023, and 2022.

	Year Ended December 31, 2023
	Pittsburgh			Birmingham			Eagan			Corporate			Total
Revenue	$	492,596		$	152,396		$	1,135,101		$	-		$	1,780,093
Depreciation and amortization		(207,658	)		(494,527	)		(29,750	)		(7,381	)		(739,316	)
Impairment expense – long-lived tangible assets		-			(162,905	)		-			-			(162,905	)
Net loss	$	(4,503,906	)	$	(1,966,406	)	$	(969,281	)	$	(6,544,374	)	$	(13,983,967	)

	December 31, 2023
	Pittsburgh		Birmingham		Eagan		Corporate		Total
Assets	$	3,263,270	$	981,914	$	1,390,031	$	8,782,034	$	14,417,249
Expenditures for additions to long-lived assets		7,424		254,819		24,691		15,437		302,371

	Year Ended December 31, 2022
	Pittsburgh			Birmingham			Eagan			Corporate			Total
Revenue	$	358,776		$	82,301		$	1,063,493		$	889		$	1,505,459
Depreciation and amortization		(836,671	)		(378,708	)		(28,481	)		(69,215	)		(1,313,075	)
Impairment expense – goodwill		(7,231,093	)		-			-			-			(7,231,093	)
Impairment expense – intangibles		(3,349,375	)		-			-			-			(3,349,375	)
Impairment expense – long-lived tangible assets		-			(115,775	)		-			(69,694	)		(185,469	)
Net loss	$	(15,741,206	)	$	(1,817,283	)	$	(417,774	)	$	(7,761,371	)	$	(25,737,634	)

	December 31, 2022
	Pittsburgh		Birmingham		Eagan		Corporate		Total
Assets	$	1,055,228	$	1,353,434	$	946,394	$	22,379,588	$	25,734,644
Expenditures for additions to long-lived assets		76,636		157,334		29,362		212,365		475,697

In each of the years ended December 31, 2023, and 2022, substantially all the Company revenues were located or derived from operations in the United States. As of December 31, 2023, all the Company’s long-lived assets were located within the United States. During the year ended December 31, 2023, revenues of $489,921 reported in the Company’s Pittsburgh segment were attributable to a single customer. As of December 31, 2023, accounts receivable due from this customer was $52,072.