| 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: |
2023 |
|
2022 |
|
|
|
|
| Corporate clinics |
$ |
17,127,957 |
|
|
$ |
12,606,999 |
|
|
|
|
|
| Franchise operations |
11,322,341 |
|
|
9,831,539 |
|
|
|
|
|
| Total revenues |
$ |
28,450,298 |
|
|
$ |
22,438,538 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization: |
|
|
|
|
|
|
|
| Corporate clinics |
2,054,580 |
|
|
1,376,196 |
|
|
|
|
|
| Franchise operations |
198,974 |
|
|
173,487 |
|
|
|
|
|
| Corporate administration |
88,990 |
|
|
79,493 |
|
|
|
|
|
| Total depreciation and amortization |
$ |
2,342,544 |
|
|
$ |
1,629,176 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Segment operating (loss) income: |
|
|
|
|
|
|
|
| Corporate clinics |
$ |
(549,542) |
|
|
$ |
(438,064) |
|
|
|
|
|
| Franchise operations |
4,644,260 |
|
|
4,403,238 |
|
|
|
|
|
| Total segment operating income |
$ |
4,094,718 |
|
|
$ |
3,965,174 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Reconciliation of total segment operating income to consolidated earnings before income taxes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total segment operating income |
$ |
4,094,718 |
|
|
$ |
3,965,174 |
|
|
|
|
|
| Unallocated corporate |
(4,772,955) |
|
|
(4,141,600) |
|
|
|
|
|
| Consolidated (loss) from operations |
(678,237) |
|
|
(176,426) |
|
|
|
|
|
| Other income (expense), net |
3,821,162 |
|
|
(16,147) |
|
|
|
|
|
| (Loss) income before income tax benefit |
$ |
3,142,925 |
|
|
$ |
(192,573) |
|
|
|
|
|
|
| Schedule of Reconciliation of Assets from Segment to Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
| Segment assets: |
March 31,
2023 |
|
December 31,
2022 |
| Corporate clinics |
$ |
59,121,430 |
|
|
$ |
57,947,468 |
|
| Franchise operations |
12,855,697 |
|
12,360,878 |
| Total segment assets |
71,977,127 |
|
70,308,346 |
|
|
|
|
| Unallocated cash and cash equivalents and restricted cash |
15,504,604 |
|
10,550,417 |
| Unallocated property and equipment |
566,513 |
|
915,216 |
| Other unallocated assets |
10,002,468 |
|
10,169,193 |
| Total assets |
$ |
98,050,712 |
|
|
$ |
91,943,172 |
|
|