Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.7.0.1
Segment Information
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Segment Information

Note 19 – 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   2017     2016  
MicroParticle Catalyzed Biosensor (“MPC”)   $ 85,659     $ 64,785  
Particle ImmunoFiltration Assay (“PIFA”)     560,921       635,173  
Other     20,670       38,065  
Product Revenue Total   $ 667,250     $ 738,023  
License Fees     -       -  
Total Revenue   $ 667,250     $ 738,023  

 

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

 

    Three months ended  
    March 31,  
Geographic Region   2017     2016  
United States   $ 617,691     $ 677,499  
People’s Republic of China     21,030       30,250  
Rest of World     28,529       30,274  
Total Revenue   $ 667,250     $ 738,023  

 

The Company had long-lived assets totaling $70,405 and $61,081 located in the People’s Republic of China and $1,446,818 and $1,500,086 located in the United States as of March 31, 2017 and December 31, 2016, respectively.