Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Segment and Geographic Data

v3.20.2
Note 11 - Segment and Geographic Data
9 Months Ended
Sep. 30, 2020
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 base. 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 September 30,2020
   
Three months ended September 30, 2019
   
Nine months ended September 30,2020
   
Nine months ended September 30, 2019
 
                                 
Dental
  $
1,240,110
    $
1,884,321
    $
3,209,370
    $
6,042,580
 
Medical
   
6,000
     
15,500
     
15,800
     
31,000
 
Total net sales
  $
1,246,110
    $
1,899,821
    $
3,225,170
    $
6,073,580
 
 
Operating Income (Loss):
 
Three months ended September 30,2020
   
Three months ended September 30, 2019
   
Nine months ended September 30,2020
   
Nine months ended September 30, 2019
 
                                 
Dental
  $
191,235
    $
644,650
    $
(32,624
)   $
1,766,087
 
Medical
   
(812,840
)    
(554,843
)    
(2,297,080
)    
(1,711,184
)
Corporate
   
(855,123
)    
(1,036,541
)    
(3,928,521
)    
(2,927,652
)
Total operating loss
  $
(1,476,728
)   $
(946,734
)
  $
(6,258,225
)   $
(2,872,749
)
 
Depreciation and Amortization
 
Three months ended September 30, 2020
   
Three months ended September 30, 2019
   
Nine months ended September 30, 2020
   
Nine months ended September 30, 2019
 
                                 
Dental
  $
402
    $
3,950
    $
9,202
    $
11,875
 
Medical
   
674
     
2,424
     
5,006
     
7,424
 
Corporate
   
15,429
     
19,044
     
60,653
     
57,620
 
Total depreciation and amortization
  $
16,505
    $
25,418
    $
74,861
    $
76,919
 
 
 
Income (loss) before taxes and equity in earnings of affiliates:
 
Three months ended September 30, 2020
   
Three months ended September 30, 2019
   
Nine months ended September 30, 2020
   
Nine months ended September 30, 2019
 
                                 
Dental
  $
190,472
    $
645,442
    $
(35,376
)   $
1,765,475
 
Medical
   
(813,935
)    
(556,969
)    
(2,300,243
)    
(1,713,362
)
Corporate
   
(853,834
)    
(2,937,140
)    
(3,931,333
)    
(4,777,690
)
Total loss before taxes and equity in earnings of affiliate
  $
(1,477,297
)   $
(2,848,667
)
  $
(6,266,952
)   $
(4,725,577
)
 
Total Assets:
     
 
     
 
 
September 30, 2020
   
December 31, 2019
 
                                 
Dental
                  $
5,391,842
    $
5,008,324
 
Medical
                   
977,160
     
590,727
 
Corporate
                   
13,576,619
     
957,238
 
Total assets
     
 
     
 
  $
19,945,621
    $
6,556,289
 
 
The following table presents information about our operations by geographic area for
three
months ended
September 30, 2020
and 
2019.
  Net sales by geographic area are based on the respective locations of our subsidiaries:
 
   
Three months ended September 30, 2020
   
Three months ended September 30, 2019
 
   
Dental
   
Medical
   
Total
   
Dental
   
Medical
   
Total
 
Domestic-US
                                               
Devices
  $
34,657
    $
-
    $
34,657
    $
199,926
    $
-
    $
199,926
 
Handpieces
   
356,566
     
-
     
356,566
     
679,621
     
-
     
679,621
 
Other
   
16,906
     
-
     
16,906
     
17,343
     
-
     
17,343
 
Total Domestic US
  $
408,129
    $
-
    $
408,129
    $
896,890
    $
-
    $
896,890
 
                                                 
international
                                               
Devices
  $
220,694
    $
-
    $
220,694
    $
412,819
    $
-
    $
412,819
 
Handpieces
   
602,000
     
6,000
     
608,000
     
564,265
     
15,500
     
579,765
 
Other
   
9,287
     
 
     
9,287
     
10,347
     
-
     
10,347
 
Total International
  $
831,981
    $
6,000
    $
837,981
    $
987,431
    $
15,500
    $
1,002,931
 
                                                 
International-China
                                               
Devices
  $
-
    $
-
    $
-
    $
-
    $
-
    $
-
 
Handpieces
   
-
     
-
     
-
     
-
     
-
     
-
 
Other
   
-
     
-
     
-
     
-
     
 
     
-
 
Total International
  $
-
    $
-
    $
-
    $
-
    $
-
    $
-
 
                                                 
Total Product Sales
  $
1,240,110
    $
6,000
    $
1,246,110
    $
1,884,321
    $
15,500
    $
1,899,821
 
 
The following table presents information about our operations by geographic area for the
nine
months ended
September 30, 2020
and
2019.
  Net sales by geographic area are based on the respective locations of our subsidiaries:
 
   
Nine months ended September 30, 2020
   
Nine months ended September 30, 2019
 
   
Dental
   
Medical
   
Total
   
Dental
   
Medical
   
Total
 
Domestic-US & Canada
                                               
Devices   $
35,181
    $
-
    $
35,181
    $
398,729
    $
10,800
    $
409,529
 
Handpieces
   
992,057
     
2,000
     
994,057
     
2,250,542
     
300
     
2,250,842
 
Other
   
37,895
     
-
     
37,895
     
61,408
     
-
     
61,408
 
Total Domestic US & Canada
  $
1,065,133
    $
2,000
    $
1,067,133
    $
2,710,679
    $
11,100
    $
2,721,779
 
                                                 
International ROW
                                               
Devices
  $
494,998
    $
7,600
    $
502,598
    $
1,100,488
    $
8,000
    $
1,108,488
 
Handpieces
   
1,618,524
     
6,200
     
1,624,724
     
2,028,750
     
11,500
     
2,040,250
 
Other    
30,715
     
-
     
30,715
     
102,663
     
400
     
103,063
 
Total International-ROW
  $
2,144,237
    $
13,800
    $
2,158,037
    $
3,231,901
    $
19,900
    $
3,251,801
 
                                                 
International-China
                                               
Devices
  $
-
    $
-
    $
-
    $
-
    $
-
    $
-
 
Handpieces
   
-
     
-
     
-
     
100,000
     
-
     
100,000
 
Other
   
-
     
-
     
-
     
 
     
-
     
-
 
Total International
  $
-
    $
-
    $
-
    $
100,000
    $
-
    $
100,000
 
                                                 
Total Product Sales
  $
3,209,370
    $
15,800
    $
3,225,170
    $
6,042,580
    $
31,000
    $
6,073,580