Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.10.0.1
Segment Information
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Segment Information

Note 18 – Segment Information

 

The Company is organized and operates as one operating segment. In accordance with FASB ASC 280 “Segment Reporting”, the Chief Operating Officer is the chief operating decision-maker who reviews operating results to make decisions on allocation of resources and assessment of performance for the entire company.

 

The total revenue by different product lines was as follows:

 

    Three months ended  
    March 31,  
Product Line   2018     2017  
MicroParticle Catalyzed Biosensor (“MPC”)   $ 18,950     $ 85,659  
Particle ImmunoFiltration Assay (“PIFA”)     259,983       560,921  
Rapid Enzymatic Assay ("REA")     9,900       -  
Other     13,642       20,670  
Product Revenue Total   $ 302,475     $ 667,250  
License Fees     -       -  
Total Revenue   $ 302,475     $ 667,250  

 

The total revenue by geographic area determined based on the location of the customers was as follows:

 

    Three months ended  
    March 31,  
Geographic Region   2018     2017  
United States   $ 294,733     $ 617,691  
People's Republic of China     -       21,030  
Rest of World     7,742       28,529  
Total Revenue   $ 302,475     $ 667,250  

 

The Company had long-lived assets totaling $74,339 and $59,830 located in the People’s Republic of China and $1,272,816 and $1,305,950 located in the United States as of March 31, 2018 and December 31, 2017, respectively.