| Schedule of Segment Reporting Information, by Segment |
The following tables present financial information for the Company’s two operating business segments.
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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| Revenues: |
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| Corporate clinics |
$ |
17,648,736 |
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$ |
17,802,838 |
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$ |
35,186,240 |
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$ |
34,930,795 |
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| Franchise operations |
12,611,825 |
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11,504,346 |
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24,796,487 |
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22,677,210 |
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| Total revenues |
$ |
30,260,561 |
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$ |
29,307,184 |
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$ |
59,982,727 |
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$ |
57,608,005 |
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| Depreciation and amortization: |
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| Corporate clinics |
$ |
1,211,613 |
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$ |
2,032,666 |
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$ |
2,315,845 |
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$ |
3,959,758 |
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| Franchise operations |
234,064 |
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207,717 |
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453,314 |
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406,690 |
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| Corporate administration |
78,136 |
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88,884 |
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158,559 |
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177,874 |
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| Total depreciation and amortization |
$ |
1,523,813 |
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$ |
2,329,267 |
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$ |
2,927,718 |
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$ |
4,544,322 |
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| Segment operating income (loss): |
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| Corporate clinics |
$ |
(248,916) |
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$ |
21,790 |
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$ |
1,237,994 |
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$ |
(400,263) |
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| Franchise operations |
3,938,167 |
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4,232,245 |
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9,276,115 |
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8,774,144 |
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| Total segment operating income |
$ |
3,689,251 |
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$ |
4,254,035 |
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$ |
10,514,109 |
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$ |
8,373,881 |
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| Reconciliation of total segment operating income to consolidated loss before income taxes: |
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| Total segment operating income |
$ |
3,689,251 |
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$ |
4,254,035 |
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$ |
10,514,109 |
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$ |
8,373,881 |
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| Unallocated corporate |
(7,187,237) |
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(4,628,589) |
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(12,921,819) |
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(9,401,544) |
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| Consolidated loss from operations |
(3,497,986) |
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(374,554) |
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(2,407,710) |
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(1,027,663) |
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| Other income (expense), net |
79,910 |
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(106,520) |
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115,540 |
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3,714,642 |
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| (Loss) income before income tax expense |
$ |
(3,418,076) |
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$ |
(481,074) |
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$ |
(2,292,170) |
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$ |
2,686,979 |
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| Schedule of Reconciliation of Assets from Segment to Consolidated |
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June 30,
2024 |
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December 31,
2023 |
| Segment assets: |
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| Corporate clinics |
$ |
48,335,810 |
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$ |
52,210,617 |
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| Franchise operations |
11,980,290 |
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10,521,582 |
| Total segment assets |
60,316,100 |
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62,732,199 |
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| Unallocated cash and cash equivalents and restricted cash |
18,647,721 |
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19,214,292 |
| Unallocated property and equipment |
493,616 |
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2,843,491 |
| Other unallocated assets |
2,983,139 |
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2,360,877 |
| Total assets |
$ |
82,440,576 |
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$ |
87,150,859 |
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