Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Tables)

v3.20.1
Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The tables below present financial information for the Company’s two operating business segments.

Three Months Ended
March 31,
Revenues:
 2020 2019
Corporate clinics
 $ 7,294,295    $ 5,639,076   
Franchise operations
 6,350,191    5,040,300   
Total revenues
 $ 13,644,486    $ 10,679,376   
Depreciation and amortization:
Corporate clinics 577,543    312,654   
Franchise operations 342    169   
Corporate administration 76,364    52,855   
Total depreciation and amortization $ 654,249    $ 365,678   
Segment operating income:
Corporate clinics
 $ 783,706    $ 839,981   
Franchise operations
 2,844,298    2,389,349   
Total segment operating income
 $ 3,628,004    $ 3,229,330   
Reconciliation of total segment operating income to consolidated earnings before income taxes:
Total segment operating income $ 3,628,004    $ 3,229,330   
Unallocated corporate
 (2,874,654)   (2,285,658)  
Consolidated income from operations 753,350    943,672   
Bargain purchase gain
 —    19,298   
Other expense, net 4,337    11,645   
Income before income tax expense (benefit) $ 749,013    $ 951,325   
Reconciliation of Assets from Segment to Consolidated
Segment assets: March 31,
2020		 December 31,
2019
Corporate clinics $ 25,084,849    $ 25,389,147   
Franchise operations 7,880,855 7,466,629
Total segment assets 32,965,704 32,855,776
Unallocated cash and cash equivalents and restricted cash 10,969,469 8,641,877
Unallocated property and equipment 1,236,556 996,385
Other unallocated assets 1,242,392 1,211,629
Total assets $ 46,414,121    $ 43,705,667