Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Segments

Note 15 - Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting Disclosure [Text Block]

Segments

We report information about our operating segments using the “management approach” in accordance with current accounting standards. This information is based on the way management organizes and reports the segments within the enterprise for making operating decisions and assessing performance. Our reportable segments are identified based on differences in products, services and markets served. There were

inter-segment sales. We manage our business based on

two

primary types of drug products: (i) diagnostic substances, including Tc

99m

tilmanocept and other diagnostic applications of our Manocept platform, and

NAV4694

(sublicensed in

April 2018),

and (ii) therapeutic development programs, including therapeutic applications of our Manocept platform and all development programs undertaken by MT.

The information in the following tables is derived directly from each reportable segment’s financial reporting.

T hree Months Ended March 31, 2019	Diagnostics			Therapeutics			Corporate			Total
Royalty revenue	$	3,150		$	—		$	—		$	3,150
Sublease revenue		—			—			94,408			94,408
Grant and other revenue		35,991			2,483			—			38,474
Total revenue		39,141			2,483			94,408			136,032
Cost of revenue		6,126			—			—			6,126
Research and development expenses		740,583			—			—			740,583
Selling, general and administrative expenses, excluding depreciation and amortization (1)		—			11,714			1,774,431			1,786,145
Depreciation and amortization (2)		—			—			36,779			36,779
Loss from operations (3)		(707,568	)		(9,231	)		(1,716,802	)		(2,433,601	)
Other income (4)		—			—			8,713			8,713
Provision for income taxes		(256	)		(3	)		(617	)		(876	)
Net loss from continuing operations		(707,824	)		(9,234	)		(1,708,706	)		(2,425,764	)
Loss from discontinued operations, net of tax		(3,297	)		—			—			(3,297	)
Net loss		(711,121	)		(9,234	)		(1,708,706	)		(2,429,061	)
Total assets, net of depreciation and amortization:
United States	$	55,213		$	2,411		$	4,891,112		$	4,948,736
International		10,422			—			602			11,024
Capital expenditures		—			—			—			—

T hree Months Ended March 31, 2018	Diagnostics			Therapeutics			Corporate			Total
Royalty revenue	$	795		$	—		$	—		$	795
Grant and other revenue		232,436			43,214			—			275,650
Total revenue		233,231			43,214			—			276,445
Cost of revenue		318			—			—			318
Research and development expenses		785,011			213,945			—			998,956
Selling, general and administrative expenses, excluding depreciation and amortization (1)		—			8,607			1,729,778			1,738,385
Depreciation and amortization (2)		—			—			37,987			37,987
Loss from operations (3)		(552,098	)		(179,338	)		(1,767,765	)		(2,499,201	)
Other expense (4)		—			—			(4,238,761	)		(4,238,761	)
Net loss		(552,098	)		(179,338	)		(6,006,526	)		(6,737,962	)
Total assets, net of depreciation and amortization:
United States	$	13,077,979		$	27,228		$	5,189,637		$	18,294,844
International		26,055			—			1,328			27,383
Capital expenditures		—			—			—			—

(

)

General and administrative expenses, excluding depreciation and amortization, represent costs that relate to the general administration of the Company and as such are

not

currently allocated to our individual reportable segments, other than those expenses directly incurred by MT.

(

)

Depreciation and amortization is reflected in selling, general and administrative expenses (

$36,779

and

$37,987

for the

three

-month periods ended

March

31,

2019

and

2018,

respectively).

(

)

Loss from operations does

not

reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments, other than those expenses directly incurred by MT.

(

)

Amounts consist primarily of losses on debt extinguishment, interest income and interest expense, which are

not

currently allocated to our individual reportable segments.