Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

19. SEGMENT INFORMATION

The Company’s nine businesses lines are organized, managed, and internally reported as five operating segments. One of these operating segments, Product Packaging, is the Company’s packaging and printing group. Product Packaging operates in the paper board folding carton, smart packaging, and document security printing markets. It markets, manufactures, and sells mailers, photo sleeves, sophisticated custom folding cartons, and complex 3-dimensional direct mail solutions. These products are designed to provide functionality and marketability while also providing counterfeit protection. A second, Biotechnology, invests in, or acquires companies in the biohealth and biomedical fields, including businesses focused on the advancement of drug discovery and prevention, inhibition, and treatment of neurological, oncological, and immune related diseases. This division is also developing open-air defense initiatives, which curb transmission of air-borne infectious diseases, such as tuberculosis and influenza. Biotechnology is also targeting unmet, urgent medical needs. A third operating segment, Securities and Investment Management (“Securities”) was established to develop and/or acquire assets and investments in the securities trading and/or funds management arena. Further, Securities, in partnership with recognized global leaders in alternative trading systems, intends to own and operate in the US a single or multiple vertical digital asset exchanges for securities, tokenized assets, utility tokens, stable coins and cryptocurrency via a digital asset trading platform using blockchain technology. The scope of services within this section is planned to include asset issuance and allocation (securities and cryptocurrency), FPO, IPO, ITO, PPO, STO and UTO listings on a primary market(s), asset digitization/tokenization (securities, currency, and cryptocurrency), and the listing and trading of digital assets (securities and cryptocurrency) on a secondary market(s). Also in this segment is the Company’s real estate investment trust (“REIT”), organized for the purposes of acquiring hospitals and other acute or post-acute care centers from leading clinical operators with dominant market share in secondary and tertiary markets, and leasing each property to a single operator under a triple-net lease. the REIT was formed to originate, acquire, and lease a credit-centric portfolio of licensed medical real estate. The fourth segment, Direct, provides services to assist companies in the emerging growth gig business model of peer-to-peer decentralized sharing marketplaces. It specializes in marketing and distributing its products and services through its subsidiary and partner network, using the popular gig economic marketing strategy as a form of direct marketing. Direct marketing products include, among other things, nutritional and personal care products sold throughout North America, Asia Pacific and Eastern Europe. The fifth business line, Commercial Banking, is organized for the purposes of being a financial network holding company, focused providing commercial loans and on acquiring equity positions in (i) undervalued commercial bank(s), bank holding companies and nonbanking licensed financial companies operating in the United States, South East Asia, Taiwan, Japan and South Korea, and (ii) companies engaged in—nonbanking activities closely related to banking, including loan syndication services, mortgage banking, trust and escrow services, banking technology, loan servicing, equipment leasing, problem asset management, SPAC (special purpose acquisition company) consulting, and advisory capital raising services. From this financial platform, the Company shall provide an integrated suite of financial services for businesses that shall include commercial business lines of credit, land development financing, inventory financing, third party loan servicing, and services that address the financial needs of the world Gig Economy.

Our segment structure presented below represents a change from the prior year for the inclusion of our Biotechnology, Securities, and Commercial Lending segments and the removal of our Plastics segment, Digital Group and IP Technology Management segment as the Plastics segment was discontinued in 2020, DSS Digital was sold and discontinued in May 2021 and activities surrounding our IP Technology Management segment have significantly decreased. The amounts for these segments have been included in the Corporate reporting segment for the year ended December 31, 2023 and 2022, as necessary, below for reconciliation purposes.

Approximate information concerning the Company’s operations by reportable segment for the twelve months ended December 31, 2023 and 2022 is as follows. The Company relies on intersegment cooperation and management does not represent that these segments, if operated independently, would report the results contained herein:

Year Ended December 31, 2023	Product Packaging		Commercial Lending			Direct Marketing			Biotechnology			Securities			Corporate			Total
Revenue	$	18,497,000	$	385,000		$	6,088,000		$	-		$	5,288,000		$	-		$	30,258,000
Assets held for sale		-		-			-			-			51,595,000			-			51,595,000
Depreciation and amortization		761,000		-			157,000			1,163,000			3,047,000			78,000			5,206,000
Cost of revenue		15,282,000		1,139,000			2,075,000			77,000			8,003,000			71,000			26,647,000
Interest expense		185,000		-			(5,000	)		-			4,632,000			-			4,812,000
Interest Income		-		-			986,000			155,000			148,000			-			1,289,000
Stock based compensation		-		-			-			-			-			-			-
Net income (loss) from continuing operations		327,000		(31,497,000	)		(32,860,000	)		(7,168,000	)		(19,792,000	)		(6,513,000	)		(97,503,000	)
Capital expenditures		689,000		-			4,000			17,000			104,000			4,000			818,000
Identifiable assets		21,508,000		12,285,000			6,303,000			49,305,000			59,345,000			4,446,000			153,192,000

Year Ended December 31,2022	Product Packaging			Commercial Lending			Direct			Biotechnology			Securities			Corporate			Total
Revenue	$	17,973,000		$	764,000		$	21,989,000		$	-		$	6,581,000		$	-		$	47,307,000
Depreciation and amortization		715,000			-			413,000			1,113,000			9,093,000			129,000			11,463,000
Cost of revenue		16,960,000			1,041,000			9,828,000			-			11,784,000			634,000			40,247,000
Interest expense		140,000			-			1,000			-			(15,000	)		-			126,000
Stock based compensation		1,000			-			-			-			-			3,000			4,000
Net income (loss) from continuing operations		(1,234,000	)		(459,000	)		(40,182,000	)		(7,462,000	)		(8,238,000	)		(12,084,000	)		(69,662,000	)
Capital expenditures		1,612,000			-			384,000			276,000			18,000			4,000			2,294,000
Identifiable assets		24,641,000			48,240,000			27,526,000			53,069,000			83,873,000			11,566,000			248,915,000

International revenue, which consists of sales to customers with operations in Canada, Western Europe, Latin America, Africa, the Middle East and Asia comprised 7.0% of total revenue for 2023 (11.0% - 2022). Revenue is allocated to individual countries by customer based on where the product is shipped. The Company had no long-lived assets in any country other than the United States for any period presented.

The following tables disaggregate our business segment revenues by major source:

Printed Products Revenue Information:

Twelve months ended December 31, 2023
Packaging Printing and Fabrication	$	18,036,000
Commercial and Security Printing		461,000
Total Printed Products	$	18,497,000

Twelve months ended December 31, 2022
Packaging Printing and Fabrication	$	17,499,000
Commercial and Security Printing		474,000
Total Printed Products	$	17,973,000

Direct Marketing

Twelve months ended December 31, 2023
Direct Marketing Internet Sales	$	6,088,000
Total Direct Marketing	$	6,088,000

Twelve months ended December 31, 2022
Direct Marketing Internet Sales	$	21,989,000
Total Direct Marketing	$	21,989,000

Rental Income

Twelve months ended December 31, 2023
Rental income	$	3,647,000
Total Rental Income	$	3,647,000

Twelve months ended December 31, 2022
Rental income	$	6,287,000
Total Rental Income	$	6,287,000

Commission Income

Twelve months ended December 31, 2023
Commission income	$	1,641,000
Total commission income	$	1,641,000

Twelve months ended December 31, 2022
Commission income	$	294,000
Total commission income	$	294,000

Management Fee Income

Twelve months ended December 31, 2023
Management fee income	$	-
Total Management fee income	$	-

Twelve months ended December 31, 2022
Management fee income	$	134,000
Total Management fee income	$	134,000

Net Investment Income

Twelve months ended December 31, 2023
Net investment income	$	385,000
Total Net Investment Income	$	385,000

Twelve months ended December 31, 2022
Net investment income	$	630,000
Total Net Investment Income	$	630,000