Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Segment and Geographic Data

v3.21.2
Note 11 - Segment and Geographic Data
6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Product Sales and Significant Customers and Vendors Disclosure [Text Block]

NOTE 11 — SEGMENT AND GEOGRAPHIC DATA

       

We conduct our business through two reportable segments: Dental and Medical. These segments offer different products and services to different customer bases. The Company provides general corporate services to its segments; however, these services are not considered when making operating decisions and assessing segment performance. These services are reported under “Corporate Services” below and these include costs associated with executive management, investor relations, patents, trademarks, licensing agreements, new instruments developments, financing activities and public company compliance.

The following tables present information about our reportable and operating segments:

 

Net Sales:

  Three months ended June 30, 2021     Three months ended June 30, 2020     Six months ended June 30, 2021     Six months ended June 30, 2020  
                                 

Dental

  $ 2,404,738     $ 165,674     $ 5,258,395     $ 1,969,260  

Medical

    21,000       2,000       92,050       9,800  

Total net sales

  $ 2,425,738     $ 167,674     $ 5,350,445     $ 1,979,060  

 

Operating Income (Loss):

  Three months ended June 30, 2021     Three months ended June 30, 2020     Six months ended June 30, 2021     Six months ended June 30, 2020  
                                 

Dental

  $ 524,798     $ (650,236 )   $ 1,650,831     $ (223,856 )

Medical

    (1,135,001 )     (814,429 )     (2,030,720 )     (1,484,241 )

Corporate

    (2,262,369 )     (1,708,225 )     (3,477,056 )     (3,073,399 )

Total operating loss

  $ (2,872,572 )   $ (3,172,890 )   $ (3,856,945 )   $ (4,781,496 )

 

Depreciation and Amortization

  Three months ended June 30, 2021     Three months ended June 30, 2020     Six months ended June 30, 2021     Six months ended June 30, 2020  
                                 

Dental

  $ 860     $ 3,101     $ 2,566     $ 8,800  

Medical

    1,165       621       5,016       4,333  

Corporate

    12,809       17,416       28,178       45,224  

Total depreciation and amortization

  $ 14,834     $ 21,138     $ 35,760     $ 54,457  

 

Income (loss) before taxes and equity in earnings of affiliates:

  Three months ended June 30, 2021     Three months ended June 30, 2020     Six months ended June 30, 2021     Six months ended June 30, 2020  
                                 

Dental

  $ 598,166     $ (651,384 )   $ 1,723,284     $ (225,845 )

Medical

    (1,136,271 )     (815,391 )     (2,033,260 )     (1,486,310 )

Corporate

    (2,062,748 )     (1,710,177 )     (3,277,785 )     (3,077,500 )

Total loss before taxes and equity in earnings of affiliate

  $ (2,600,853 )   $ (3,176,952 )   $ (3,587,761 )   $ (4,789,655 )

 

 

Total Assets:

 

June 30, 2021

   

December 31, 2020

 
                 

Dental

  $ 6,639,102     $ 6,035,645  

Medical

    1,196,977       923,658  

Corporate

    13,223,587       12,612,147  

Total assets

  $ 21,059,666     $ 19,571,450  

 

The following table presents information about our operations by geographic area for three months ended June 30, 2021 and 2020.  Net sales by geographic area are based on the respective locations of our subsidiaries:

 

   

Three Months Ended June 30, 2021

   

Three Months Ended June 30, 2020

 
   

Dental

   

Medical

   

Grand Total

   

Dental

   

Medical

   

Grand Total

 

Domestic: US

                                               

Instruments

  $ 178,752     $ -     $ 178,752     $ -     $ -     $ -  

Handpieces

    802,916       -       802,916       36,812       2,000       38,812  

Accessories

    18,974             18,974       1,542             1,542  

Total Domestic US

  $ 1,000,642     $ -     $ 1,000,642     $ 38,354     $ 2,000     $ 40,354  
                                                 

International: Rest of World

    Dental       Medical       Grand Total       Dental       Medical       Grand Total  

Instruments

    156,588     $ 15,500     $ 172,088     $ 31,800     $ -     $ 31,800  

Handpieces

    709,624       5,500       715,124       87,632       -       87,632  

Accessories

    12,548       -       12,548       7,888       -       7,888  

Total International

  $ 878,761     $ 21,000     $ 899,761     $ 127,320     $ -     $ 127,320  
                                                 

International: China

    Dental       Medical       Grand Total       Dental       Medical       Grand Total  

Instruments

  $ 78,000     $ -     $ 78,000     $ -     $ -     $ -  

Handpieces

    447,336       -       447,336       -       -       -  

Other

          -       -             -       -  

Total International

    525,336       -       525,336       -       -       -  
                                                 

Total Product Sales

  $ 2,404,738     $ 21,000     $ 2,425,738     $ 165,674     $ 2,000     $ 167,674  

 

The following table presents information about our operations by geographic area for six months ended June 30, 2021 and 2020.  Net sales by geographic area are based on the respective locations of our subsidiaries:

 

   

Six Months Ended June 30, 2021

   

Six Months Ended June 30, 2020

 
   

Dental

   

Medical

   

Total

   

Dental

   

Medical

   

Total

 

Domestic: US

                                               

Instruments

  $ 354,768     $ -     $ 354,768     $ 525     $ -     $ 525  

Handpieces

    1,597,900       8,150       1,606,050       633,490       2,000       635,490  

Accessories

    36,882             36,882       21,590             21,590  

Total Domestic US

  $ 1,989,550     $ 8,150     $ 1,997,700     $ 655,605     $ 2,000     $ 657,605  
                                                 

International: Rest of World

    Dental       Medical       Total       Dental       Medical       Total  

Instruments

  $ 539,841     $ 58,000     $ 597,841     $ 274,304     $ 7,600     $ 281,904  

Handpieces

    1,663,559       25,900       1,689,459       1,017,923       200       1,018,123  

Accessories

    33,109       -       33,109       21,428       -       21,428  

Total International

  $ 2,236,509     $ 83,900     $ 2,320,409     $ 1,313,655     $ 7,800     $ 1,321,455  
                                                 

International: China

    Dental       Medical       Total       Dental       Medical       Total  

Instruments

  $ 228,000     $ -     $ 228,000     $ -     $ -     $ -  

Handpieces

    804,336       -       804,336       -       -       -  

Other

          -       -       -             -  

Total International

    1,032,336       -     $ 1,032,336     $ -     $ -     $ -  
                                                 

Total Product Sales

  $ 5,258,395     $ 92,050     $ 5,350,445     $ 1,969,260     $ 9,800     $ 1,979,060