| 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
September 30,
2026
($) | | |
Three
months
ended
September 30,
2025
($) | | |
Nine
months
ended
September 30,
2026
($) | | |
Nine
months
ended
September 30,
2025
($) | |
| | |
| | |
| | |
| | |
| |
| Life Sciences segment | |
| | |
| | |
| | |
| |
| Wellness and lifestyle | |
| 7 | | |
| 38 | | |
| 39 | | |
| 56 | |
| White labeling services | |
| 321 | | |
| 153 | | |
| 871 | | |
| 793 | |
| Total | |
| 328 | | |
| 191 | | |
| 910 | | |
| 849 | |
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
September 30, | |
| | |
2026
($) | | |
2025
($) | |
| United States (U.S.) | |
| | |
| |
| Revenue | |
| 328 | | |
| 191 | |
| Cost of revenue | |
| (267 | ) | |
| (92 | ) |
| Selling, general, and administrative expenses | |
| (551 | ) | |
| (800 | ) |
| Research and development expenses | |
| (443 | ) | |
| (846 | ) |
| Common stock-based compensation and expenses, net | |
| (371 | ) | |
| (686 | ) |
| Operating loss | |
| (1,304 | ) | |
| (2,232 | ) |
| Others | |
| | | |
| | |
| Selling, general, and administrative expenses | |
| (220 | ) | |
| (276 | ) |
| Research and development expenses | |
| (388 | ) | |
| (347 | ) |
| Common stock-based compensation and expenses, net | |
| (19 | ) | |
| (44 | ) |
| Operating loss | |
| (627 | ) | |
| (667 | ) |
| Total Operating loss | |
| (1,931 | ) | |
| (2,899 | ) |
| | |
(in thousands)
Nine months ended
September 30, | |
| | |
2026($) | | |
2025($) | |
| United States (U.S.) | |
| | |
| |
| Revenue | |
| 910 | | |
| 849 | |
| Cost of revenue | |
| (746 | ) | |
| (442 | ) |
| Selling, general, and administrative expenses | |
| (1,952 | ) | |
| (1,697 | ) |
| Research and development expenses | |
| (1,663 | ) | |
| (1,891 | ) |
| Common stock-based compensation and expenses, net | |
| (1,985 | ) | |
| (1,382 | ) |
| Operating loss | |
| (5,436 | ) | |
| (4,563 | ) |
| Others | |
| | | |
| | |
| Selling, general, and administrative expenses | |
| (624 | ) | |
| (677 | ) |
| Research and development expenses | |
| (953 | ) | |
| (722 | ) |
| Common stock-based compensation and expenses, net | |
| (160 | ) | |
| (255 | ) |
| Operating loss | |
| (1,737 | ) | |
| (1,654 | ) |
| Total Operating loss | |
| (7,173 | ) | |
| (6,217 | ) |
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
September 30,
2026
($) | |
| Intangible assets, net | |
| 5,740 | | |
| - | | |
| 5,740 | |
| Property, plant, and equipment, net | |
| 1,969 | | |
| 62 | | |
| 2,031 | |
| Claims and advances | |
| 410 | | |
| 242 | | |
| 652 | |
| Operating lease asset | |
| - | | |
| - | | |
| - | |
| Total non-current assets | |
| 8,119 | | |
| 304 | | |
| 8,423 | |
| | |
(in thousands) | |
| Nature of assets | |
USA
(Country of
Domicile)
($) | | |
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 | |
|