| Schedule of Segment Reporting Information, by Segment |
The tables below present financial information for the Company’s two operating business segments.
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2023 |
|
2022 |
| Revenues: |
|
|
|
| Corporate clinics |
$ |
70,718,880 |
|
|
$ |
59,422,294 |
|
| Franchise operations |
46,977,476 |
|
|
41,830,016 |
|
Total revenues |
$ |
117,696,356 |
|
|
$ |
101,252,310 |
|
|
|
|
|
| Depreciation and amortization: |
|
|
|
| Corporate clinics |
$ |
7,415,395 |
|
|
$ |
5,557,494 |
|
| Franchise operations |
809,135 |
|
|
744,172 |
|
| Corporate administration |
357,673 |
|
|
344,956 |
|
| Total depreciation and amortization |
$ |
8,582,203 |
|
|
$ |
6,646,622 |
|
|
|
|
|
| Segment operating (loss) income: |
|
|
|
| Corporate clinics |
$ |
(2,502,643) |
|
|
$ |
110,257 |
|
| Franchise operations |
20,332,354 |
|
|
17,340,402 |
|
| Unallocated corporate |
(19,902,798) |
|
|
(16,622,405) |
|
| Total segment operating (loss) income |
$ |
(2,073,087) |
|
|
$ |
828,254 |
|
|
|
|
|
| Reconciliation of total segment operating (loss) income to consolidated earnings before income taxes: |
|
|
|
| Total segment operating (loss) income |
$ |
(2,073,087) |
|
|
$ |
828,254 |
|
| Other income (expense), net |
3,711,843 |
|
|
(133,101) |
|
| Income before income tax expense |
$ |
1,638,756 |
|
|
$ |
695,153 |
|
|
| Schedule of Reconciliation of Assets from Segment to Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
December 31, 2022 |
| Segment assets: |
|
|
|
| Corporate clinics |
$ |
52,210,617 |
|
|
$ |
56,008,234 |
|
| Franchise operations |
10,521,582 |
|
|
12,360,878 |
|
| Total segment assets |
$ |
62,732,199 |
|
|
$ |
68,369,112 |
|
|
|
|
|
| Unallocated cash and cash equivalents and restricted cash |
$ |
19,214,292 |
|
|
$ |
10,550,417 |
|
| Unallocated property and equipment |
2,843,491 |
|
|
915,216 |
|
| Other unallocated assets |
2,360,877 |
|
|
13,655,632 |
|
| Total assets |
$ |
87,150,859 |
|
|
$ |
93,490,377 |
|
|