Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Segments

v3.8.0.1
Note 15 - Segments
3 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
1
5
.
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 Tc
99m
tilmanocept and other diagnostic applications of our Manocept platform, and
NAV4694,
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, 2018
 
Diagnostics
   
Therapeutics
   
Corporate
   
Total
 
Tc99m tilmanocept royalty revenue
  $
795
    $
    $
    $
795
 
Grant and other revenue
   
232,436
     
43,214
     
     
275,650
 
Total revenue
   
233,231
     
43,214
     
     
276,445
 
Cost of goods sold
   
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
   
     
     
     
 
 
T
hree Months Ended March 31, 2017
 
Diagnostics
   
Therapeutics
   
Corporate
   
Total
 
Grant and other revenue
  $
571,362
    $
8,668
    $
    $
580,030
 
Research and development expenses
   
413,202
     
292,072
     
     
705,274
 
Selling, general and administrative expenses, excluding depreciation and amortization
(
1
)
   
     
2,521
     
2,943,123
     
2,945,644
 
Depreciation and amortization
(
2
)
   
     
     
76,790
     
76,790
 
Income (loss) from operations
(
3
)
   
158,160
     
(285,925
)
   
(3,019,913
)
   
(3,147,678
)
Other expense
   
     
     
(1,171,109
)
   
(1,171,109
)
Income tax (expense) benefit
   
(53,254
)    
96,273
     
1,411,153
     
1,454,172
 
Net income (loss) from continuing operations
   
104,906
     
(189,652
)
   
(2,779,869
)
   
(2,864,615
)
Loss from discontinued operations, net of tax
   
(255,861
)
   
     
     
(255,861
)
Gain on sale of discontinued operations, net of tax
   
88,701,501
     
     
     
88,701,501
 
Net income (loss)
   
88,550,546
     
(189,652
)
   
(2,779,869
)
   
85,581,025
 
Total assets, net of depreciation and amortization:
                               
United States
  $
9,692,007
    $
897
    $
23,116,511
    $
32,809,415
 
International
   
115,279
     
     
893
     
116,172
 
Capital expenditures
   
     
     
     
 
 
 
(
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 (
$37,987
and
$76,790
for the
three
-month periods ended
March 
31,
2018
and
2017,
and
$9,745
was included in discontinued operations for the
three
-month period ended
March 31, 2017).
 
(
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, other than those expenses directly incurred by MT.
 
(
4
)
Amounts consist primarily of losses on debt extinguishment and changes in fair value of financial instruments, which are
not
currently allocated to our individual reportable segments.