Annual report pursuant to Section 13 and 15(d)

Note 17 - Segments

v3.20.1
Note 17 - Segments
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
1
7
.
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
no
inter-segment sales.  We manage our business based on
two
primary types of drug products: (i) diagnostic substances, including
Tc99m
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.
 
The information in the following tables is derived directly from each reportable segment’s financial reporting.
 
Year Ended December 31, 2019
  
Diagnostics
    
Therapeutics
    
Corporate
    
Total
  
Royalty revenue
   $
16,665
     $
—
     $
—
     $
16,665
  
License revenue
    
9,953
      
—
      
—
      
9,953
  
Grant and other revenue
    
384,776
      
246,432
      
—
      
631,208
  
Total revenue
    
411,394
      
246,432
      
—
      
657,826
  
Cost of revenue
    
6,667
      
—
      
—
      
6,667
  
Research and development expenses, excluding depreciation and amortization
    
4,795,445
      
542,822
      
—
      
5,338,267
  
Selling, general and administrative expenses, excluding depreciation and amortization
(
1
)
    
—
      
16,990
      
6,113,907
      
6,130,897
  
Depreciation and amortization
(
2
)
    
—
      
—
      
144,512
      
144,512
  
Loss from operations
(
3
)
    
(4,390,718
)
    
(313,380
)
    
(6,258,419
)
    
(10,962,517
)
Other income
(
4
)
    
—
      
—
      
17,675
      
17,675
  
Provision for income taxes
    
(284
)
    
(20
)
    
(403
 )    
(707
 )
Loss from continuing operations
    
(4,391,002
)
    
(313,400
)
    
(6,241,147
)
    
(10,945,549
)
Loss from discontinued operations, net of tax effect
    
(2,665
)
    
—
      
—
      
(2,665
)
Net loss
    
(4,393,666
)
    
(313,400
)
    
(6,241,147
)
    
(10,948,214
)
Total assets, net of depreciation and amortization:
                                
United States
   $
55,229
     $
31,449
     $
4,064,228
     $
4,150,906
  
International
    
—
      
—
      
—
      
—
  
Capital expenditures
    
—
      
—
      
1,258
      
1,258
  
 
 
Year Ended December 31, 2018
  
Diagnostics
    
Therapeutics
    
Corporate
    
Total
  
Royalty revenue
   $
15,347
     $
—
     $
—
     $
15,347
  
License revenue
    
307,174
      
—
      
—
      
307,174
  
Grant and other revenue
    
494,997
      
351,833
      
—
      
846,830
  
Total revenue
    
817,518
      
351,833
      
—
      
1,169,351
  
Cost of revenue
    
96,636
      
—
      
—
      
96,636
  
Research and development expenses
    
3,064,115
      
1,157,766
      
—
      
4,221,881
  
Selling, general and administrative expenses, excluding depreciation and amortization
(
1
)
    
—
      
78,606
      
7,469,144
      
7,547,750
  
Depreciation and amortization
(
2
)
    
—
      
—
      
150,385
      
150,385
  
Loss from operations
(
3
)
    
(2,343,233
)
    
(884,539
)
    
(7,619,529
)
    
(10,847,301
)
Other expense
(
4
)
    
—
      
—
      
(5,321,270
)
    
(5,321,270
)
Benefit from income taxes
    
1,413
      
534
      
7,806
      
9,753
  
Loss from continuing operations
    
(2,341,820
)
    
(884,005
)
    
(12,932,993
)
    
(16,158,818
)
Income from discontinued operations, net of tax effect
    
1,449
      
—
      
—
      
1,449
  
Gain on sale of discontinued operations, net of tax effect
    
43,053
      
—
      
—
      
43,053
  
Net loss
    
(2,297,318
)
    
(884,005
)
    
(12,932,993
)
    
(16,114,316
)
Total assets, net of depreciation and amortization:
                                
United States
   $
91,425
      
24,763
      
6,878,129
      
6,994,317
  
International
    
14,330
      
 
      
381
      
14,711
  
Capital expenditures
    
—
      
—
      
46,192
      
46,192
  
 
 
(
1
)
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.
 
(
2
)
Depreciation and amortization is reflected in selling, general and administrative expenses (
$144,512
and
$150,385
for the years ended
December 31, 2019
and
2018,
respectively).
 
(
3
)
Loss from operations does
not
reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments.
 
(
4
)
Amounts consist primarily of losses on debt extinguishment, interest income and interest expense, which are
not
currently allocated to our individual reportable segments.