| Schedule of Consolidated Statements of Operations |
The following table includes revenue,
significant veterinary clinic and hospital operating expenses, and Adjusted Clinic EBITDA for the Company’s clinics, reconciled
to the consolidated amounts included in the Company’s consolidated statements of operations:
| | |
For the Three Months Ended
March 31, | |
| | |
2025 | | |
2024 | |
| Revenue | |
| | |
| |
| Service revenue | |
$ | 2,741,029 | | |
$ | 3,545,599 | |
| Product revenue | |
| 898,180 | | |
| 1,285,968 | |
| Total Clinics level revenue | |
| 3,639,209 | | |
| 4,831,567 | |
| | |
| | | |
| | |
| Operating expenses | |
| | | |
| | |
| Cost of service revenue (exclusive of depreciation and amortization, shown separately below) | |
| 2,139,278 | | |
| 2,709,147 | |
| Cost of product revenue (exclusive of depreciation and amortization, shown separately below) | |
| 785,409 | | |
| 1,016,107 | |
| General and administrative expenses | |
| 709,376 | | |
| 1,089,578 | |
| Total Clinics level expenses | |
| 3,634,063 | | |
| 4,814,832 | |
| | |
| | | |
| | |
| Adjusted Clinics EBITDA | |
$ | 5,146 | | |
$ | 16,735 | |
| | |
| | | |
| | |
| Reconciliation of Adjusted Clinics EBITDA to net income | |
| | | |
| | |
| Depreciation and amortization | |
| 275,392 | | |
| 367,197 | |
| Interest expense | |
| 407,728 | | |
| 559,289 | |
| Other income (expenses) | |
| - | | |
| (2 | ) |
| Corporate general and administrative | |
| 1,737,062 | | |
| 1,783,765 | |
| Debt extinguishment loss | |
| - | | |
| 728,278 | |
| | |
| | | |
| | |
| Net Income | |
$ | (2,415,036 | ) | |
$ | (3,421,792 | ) |
|
The following table includes revenue,
significant veterinary clinic and hospital operating expenses, and Adjusted Clinic EBITDA for the Company’s clinics, reconciled
to the consolidated amounts included in the Company’s consolidated statements of operations:
| | |
For the year ended
December 31, | |
| | |
2024 | | |
2023 | |
| Revenue | |
| | |
| |
| Service revenue | |
$ | 12,188,526 | | |
$ | 11,879,934 | |
| Product revenue | |
| 4,403,583 | | |
| 4,795,459 | |
| Total Clinics level revenue | |
| 16,592,109 | | |
| 16,675,393 | |
| | |
| | | |
| | |
| Operating expenses | |
| | | |
| | |
| Cost of service revenue (exclusive of depreciation and amortization, shown separately below) | |
| 9,736,282 | | |
| 9,700,963 | |
| Cost of product revenue (exclusive of depreciation and amortization, shown separately below) | |
| 3,563,279 | | |
| 3,420,515 | |
| General and administrative expenses | |
| 2,688,157 | | |
| 3,056,702 | |
| Total Clinics level expenses | |
| 15,987,718 | | |
| 16,178,180 | |
| Adjusted Clinics EBITDA | |
$ | 604,391 | | |
$ | 497,213 | |
| | |
| | | |
| | |
| Reconciliation of Adjusted Clinics EBITDA to net loss | |
| | | |
| | |
| Depreciation and amortization | |
| 1,308,619 | | |
| 1,252,539 | |
| Gain on sale of business | |
| (467,049 | ) | |
| - | |
| Loss on debt extinguishment | |
| - | | |
| 16,105 | |
| Interest expense | |
| 3,098,237 | | |
| 2,538,710 | |
| Loss on debt modification | |
| 2,134,218 | | |
| 927,054 | |
| Beneficial conversion feature | |
| - | | |
| 4,137,261 | |
| Other income (expenses) | |
| 4,768 | | |
| (1,134 | ) |
| Corporate general and administrative | |
| 8,733,195 | | |
| 6,419,585 | |
| Impairment expense | |
| 56,664 | | |
| - | |
| Net Loss | |
$ | (14,264,261 | ) | |
$ | (14,792,907 | ) |
|