| Schedule of Segment Reporting Information, by Segment |
The tables below present financial information for the Company’s two operating business segments.
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Year Ended December 31, |
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2021 |
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2020 |
| Revenues: |
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| Corporate clinics |
$ |
44,348,234 |
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$ |
31,757,207 |
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| Franchise operations |
36,511,419 |
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26,925,769 |
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| Total revenues |
$ |
80,859,653 |
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$ |
58,682,976 |
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| Depreciation and amortization: |
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| Corporate clinics |
$ |
5,446,663 |
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$ |
2,503,181 |
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| Franchise operations |
334,945 |
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— |
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| Corporate administration |
307,339 |
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231,281 |
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| Total depreciation and amortization |
$ |
6,088,947 |
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$ |
2,734,462 |
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| Segment operating income: |
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| Corporate clinics |
$ |
4,432,872 |
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$ |
4,508,990 |
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| Franchise operations |
16,706,643 |
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12,561,278 |
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| Total segment operating income |
$ |
21,139,515 |
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$ |
17,070,268 |
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| Reconciliation of total segment operating income to consolidated earnings before income taxes: |
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| Total segment operating income |
$ |
21,139,515 |
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$ |
17,070,268 |
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| Unallocated corporate |
(15,787,096) |
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(11,578,138) |
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| Consolidated income from operations |
5,352,419 |
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5,492,130 |
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| Bargain purchase gain |
— |
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— |
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| Other (expense), net |
(69,878) |
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(79,478) |
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| Income before income tax expense |
$ |
5,282,541 |
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$ |
5,412,652 |
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| Schedule of Reconciliation of Assets from Segment to Consolidated |
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December 31, 2021 |
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December 31, 2020 |
| Segment assets: |
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| Corporate clinics |
$ |
40,722,898 |
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$ |
24,928,311 |
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| Franchise operations |
12,593,912 |
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9,957,097 |
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| Total segment assets |
$ |
53,316,810 |
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$ |
34,885,408 |
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(As Revised) |
| Unallocated cash and cash equivalents and restricted cash |
$ |
19,912,338 |
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$ |
20,819,629 |
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| Unallocated property and equipment |
857,176 |
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1,063,815 |
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| Other unallocated assets |
11,367,885 |
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9,110,515 |
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| Total assets |
$ |
85,454,209 |
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$ |
65,879,367 |
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