Note 13 - Segments

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 13 – 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.

The Company has two 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.

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

As described in Note 2, the Company’s former Birmingham operating segment met the criteria to be reported as discontinued operations during the third quarter of 2024. As such, the former Birmingham segment is excluded from the tables below, which only reflect continuing operations for all periods presented.

All revenues are earned from external customers.

The tables below summarize the Company’s segment reporting as of September 30, 2024, and December 31, 2023, and for the three and nine months ended September 30, 2024, and 2023.

	Three Months Ended September 30, 2024
	Pittsburgh			Eagan			Corporate			Total
Revenue	$	3,907		$	341,779		$	-		$	345,686
Depreciation and amortization		(30,766	)		(7,348	)		(1,682	)		(39,796	)
Segment loss	$	(1,053,373	)	$	(153,533	)	$	(1,076,507	)	$	(2,283,413	)

	Nine Months Ended September 30, 2024
	Pittsburgh			Eagan			Corporate			Total
Revenue	$	76,020		$	936,212		$	-		$	1,012,232
Depreciation and amortization		(94,272	)		(22,395	)		(5,352	)		(122,019	)
Segment loss	$	(3,260,416	)	$	(608,689	)	$	(4,890,238	)	$	(8,759,343	)

	September 30, 2024
	Pittsburgh		Eagan		Corporate		Total
Assets	$	2,797,545	$	1,270,451	$	3,352,512	$	7,420,508

	Three Months Ended September 30, 2023
	Pittsburgh			Eagan			Corporate			Total
Revenue	$	417,096		$	259,530		$	-		$	676,626
Depreciation and amortization		(31,946	)		(8,909	)		(1,851	)		(42,706	)
Segment loss	$	(674,952	)	$	(189,031	)	$	(1,884,384	)	$	(2,748,367	)

	Nine Months Ended September 30, 2023
	Pittsburgh			Eagan			Corporate			Total
Revenue	$	441,567		$	866,535		$	-		$	1,308,102
Depreciation and amortization		(175,713	)		(25,660	)		(5,528	)		(206,901	)
Segment loss	$	(3,428,644	)	$	(756,115	)	$	(4,840,639	)	$	(9,025,398	)

	December 31, 2023
	Pittsburgh		Eagan		Corporate		Total
Assets	$	3,263,270	$	1,390,031	$	8,782,034	$	13,435,335