Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

17. SEGMENT INFORMATION

Our business operations (being the development, acquisition, manufacture and sale of products that improve the health and productivity of dairy and beef cattle) are described in Note 1. Pursuant to Codification Topic 280, Segment Reporting, we operate in the following two reportable business segments: i) First Defense^® and ii) Re-Tain^®. The significant accounting policies of these segments are described in Note 2. Product sales are the primary factor we use in determining our reportable segments. The governing regulatory authority (USDA or FDA) is also a factor in determining our reportable segments. Management monitors and evaluates segment performance from sales to net operating income (loss) closely. We are not organized by geographic region. No segments have been aggregated. The revenues and expenses allocated to each segment are in some cases direct and in other cases involve reasonable and consistent estimations by management. Each operating segment is defined as the component of our business for which financial information is available and evaluated regularly by our chief operating decision-maker in deciding how to allocate resources and in assessing performance. Our chief operating decision-maker is our President and CEO.

	During the Year Ended December 31, 2021
	First Defense®		Re-Tain®			Unallocated			Total
Product sales	$	18,933,092	$	—		$	309,877		$	19,242,969
Costs of goods sold		10,411,936		—			175,104			10,587,040
Gross margin		8,521,156		—			134,773			8,655,929
OPERATING EXPENSES:
Product development expenses		25,374		3,887,781			255,363			4,168,518
Sales and marketing expenses		1,942,391		561,288			247			2,503,926
Administrative expenses		—		—			1,726,100			1,726,100
Operating expenses		1,967,765		4,449,069			1,981,710			8,398,544
NET OPERATING INCOME (LOSS)	$	6,553,391	$	(4,449,069	)	$	(1,846,937	)	$	257,385

	During the Year Ended December 31, 2020
	First Defense®		Re-Tain®			Unallocated			Total
Product sales	$	15,072,446	$	—		$	269,758		$	15,342,204
Costs of goods sold		8,285,073		—			194,305			8,479,378
Gross margin		6,787,373		—			75,453			6,862,826
OPERATING EXPENSES:
Product development expenses		106,393		4,022,712			225,522			4,354,627
Sales and marketing expenses		2,119,289		48,600			10			2,167,899
Administrative expenses		—		—			1,720,653			1,720,653
Operating expenses		2,225,682		4,071,312			1,946,185			8,243,179
NET OPERATING INCOME (LOSS)	$	4,561,691	$	(4,071,312	)	$	(1,870,732	)	$	(1,380,353	)

	First Defense®		Re-Tain®		Total
Total Assets as of December 31, 2021	$	22,476,870	$	21,988,818	$	44,465,688
Total Assets as of December 31, 2020	$	18,416,157	$	21,933,437	$	40,349,594
Depreciation and amortization expense during the year ended December 31, 2021	$	1,095,620	$	1,373,361	$	2,468,981
Depreciation and amortization expense during the year ended December 31, 2020	$	1,003,577	$	1,446,430	$	2,450,007
Capital Expenditures during the year ended December 31, 2021	$	1,655,866	$	952,783	$	2,608,649
Capital Expenditures during the year ended December 31, 2020	$	3,454,076	$	618,463	$	4,072,539