| Segment Reporting [Text Block] |
NOTE 16 – SEGMENT INFORMATION
FASB ASC 280, “Segment
Reporting,” establishes standards for reporting information about reportable segments. Operating segments are defined as components
of an enterprise about which separate financial information is available and is evaluated regularly by the chief operating decision maker,
or decision-making group (“CODM”), in deciding how to allocate resources and in assessing performance. The Company operates
as one reportable segment. The Company's Chief Operating Decision Maker is its Chief Executive Officer, who reviews consolidated operating
results to allocate resources and assess performance. The measure of segment assets is total assets as reported on the condensed consolidated
balance sheets. The CODM evaluates revenue by product line and operating expenses by significant category to assess financial performance
and allocate resources. The CODM’s primary measure of segment performance is operating loss, as presented below.
The following provides information
required by ASC 280-10-50-38 “Entity-wide Information”:
1) The table below shows revenue reported by segment and the geographic location of customers:
| | |
(in thousands) | |
| | |
Three
months
ended
June 30,
2026
($) | | |
Three
months
ended
June 30,
2025
($) | | |
Six
months
ended June 30,
2026
($) | | |
Six
months
ended June 30,
2025
($) | |
| | |
| | |
| | |
| | |
| |
| Life Sciences segment | |
| | |
| | |
| | |
| |
| Wellness and lifestyle | |
| 9 | | |
| 6 | | |
| 32 | | |
| 19 | |
| White labeling services | |
| 256 | | |
| 322 | | |
| 550 | | |
| 639 | |
| Total | |
| 265 | | |
| 328 | | |
| 582 | | |
| 658 | |
All revenue for both periods
presented was generated from customers located in the United States. For information on revenue by product and service, please refer to
Note 2, “Summary of Significant Accounting Policies”. 2) The table below shows the
loss before income tax and other (expense)/income categories regularly provided to the CODM in assessing the Company’s one reportable
segment, “Life Sciences,” segment performance:
| | |
(in thousands)
Three months ended
June 30, | |
| | |
2026($) | | |
2025($) | |
| United States (U.S.) | |
| | |
| |
| Revenue | |
| 265 | | |
| 328 | |
| Cost of revenue | |
| (217 | ) | |
| (174 | ) |
| Selling, general, and administrative expenses | |
| (695 | ) | |
| (895 | ) |
| Research and development expenses | |
| (761 | ) | |
| (383 | ) |
| Common stock-based compensation and expenses, net | |
| (727 | ) | |
| (224 | ) |
| Operating loss | |
| (2,135 | ) | |
| (1,348 | ) |
| Others | |
| | | |
| | |
| Selling, general, and administrative expenses | |
| (255 | ) | |
| (200 | ) |
| Research and development expenses | |
| (374 | ) | |
| (128 | ) |
| Common stock-based compensation and expenses, net | |
| (20 | ) | |
| (229 | ) |
| Operating loss | |
| (649 | ) | |
| (557 | ) |
| Total Operating loss | |
| (2,784 | ) | |
| (1,905 | ) |
| | |
(in thousands)
Six months ended
June 30, | |
| | |
2026($) | | |
2025($) | |
| United States (U.S.) | |
| | |
| |
| Revenue | |
| 582 | | |
| 658 | |
| Cost of revenue | |
| (479 | ) | |
| (350 | ) |
| Selling, general, and administrative expenses | |
| (1,408 | ) | |
| (1,010 | ) |
| Research and development expenses | |
| (1,212 | ) | |
| (932 | ) |
| Common stock-based compensation and expenses, net | |
| (1,615 | ) | |
| (645 | ) |
| Operating loss | |
| (4,132 | ) | |
| (2,279 | ) |
| Others | |
| | | |
| | |
| Selling, general, and administrative expenses | |
| (403 | ) | |
| (402 | ) |
| Research and development expenses | |
| (566 | ) | |
| (375 | ) |
| Common stock-based compensation and expenses, net | |
| (141 | ) | |
| (262 | ) |
| Operating loss | |
| (1,110 | ) | |
| (1,039 | ) |
| Total Operating loss | |
| (5,242 | ) | |
| (3,318 | ) |
3) The table below shows the
non-current assets other than financial instruments held in the country of domicile and foreign countries.
| | |
(in thousands) | |
| Nature of assets | |
USA
(Country
of Domicile)
($) | | |
Foreign
Countries
(India and
Colombia)
($) | | |
Total
as of
June 30,
2026
($) | |
| Intangible assets, net | |
| 5,507 | | |
| - | | |
| 5,507 | |
| Property, plant, and equipment, net | |
| 2,004 | | |
| 65 | | |
| 2,069 | |
| Claims and advances | |
| 410 | | |
| 246 | | |
| 656 | |
| Operating lease asset | |
| - | | |
| - | | |
| - | |
| Total non-current assets | |
| 7,921 | | |
| 311 | | |
| 8,232 | |
| |
|
(in thousands) |
|
| Nature of assets |
|
USA
(Country of
Domicile)
($) |
|
|
Foreign
Countries
(India and
Colombia)
($) |
|
|
Total
as of
December 31,
2025
($) |
|
| Intangible assets, net |
|
|
5,101 |
|
|
|
- |
|
|
|
5,101 |
|
| Property, plant, and equipment, net |
|
|
2,073 |
|
|
|
68 |
|
|
|
2,141 |
|
| Claims and advances |
|
|
410 |
|
|
|
259 |
|
|
|
669 |
|
| Operating lease asset |
|
|
- |
|
|
|
11 |
|
|
|
11 |
|
| Total non-current assets |
|
|
7,584 |
|
|
|
338 |
|
|
|
7,922 |
|
|