| 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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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
Revenues: |
2021 |
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2020 |
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2021 |
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2020 |
Corporate clinics |
$ |
11,634,009 |
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$ |
8,403,844 |
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$ |
32,537,942 |
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$ |
22,554,946 |
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Franchise operations |
9,357,612 |
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7,006,709 |
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26,220,441 |
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19,089,886 |
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Total revenues |
$ |
20,991,621 |
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$ |
15,410,553 |
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$ |
58,758,383 |
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$ |
41,644,832 |
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Depreciation and amortization: |
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| Corporate clinics |
1,538,251 |
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636,734 |
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3,879,786 |
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1,828,643 |
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| Franchise operations |
165,475 |
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342 |
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166,159 |
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1,027 |
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| Corporate administration |
(41,471) |
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77,212 |
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229,195 |
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232,267 |
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| Total depreciation and amortization |
$ |
1,662,255 |
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$ |
714,288 |
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$ |
4,275,140 |
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$ |
2,061,937 |
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Segment operating income: |
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Corporate clinics |
$ |
1,241,081 |
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$ |
1,313,717 |
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$ |
4,415,793 |
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$ |
2,662,643 |
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Franchise operations |
4,156,829 |
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3,404,723 |
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11,887,071 |
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8,778,537 |
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Total segment operating income |
$ |
5,397,910 |
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$ |
4,718,440 |
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$ |
16,302,864 |
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$ |
11,441,180 |
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| Reconciliation of total segment operating income to consolidated earnings before income taxes: |
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| Total segment operating income |
$ |
5,397,910 |
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$ |
4,718,440 |
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$ |
16,302,864 |
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$ |
11,441,180 |
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Unallocated corporate |
(4,059,032) |
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(3,013,084) |
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(10,957,559) |
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(8,723,890) |
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| Consolidated income from operations |
1,338,878 |
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1,705,356 |
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5,345,305 |
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2,717,290 |
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| Other expense, net |
16,139 |
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25,667 |
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54,050 |
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55,248 |
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| Income before income tax benefit |
$ |
1,322,739 |
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$ |
1,679,689 |
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$ |
5,291,255 |
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$ |
2,662,042 |
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| Schedule of Reconciliation of Assets from Segment to Consolidated |
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| Segment assets: |
September 30,
2021 |
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December 31,
2020 |
| Corporate clinics |
$ |
36,778,871 |
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$ |
24,928,311 |
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| Franchise operations |
12,257,569 |
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9,744,375 |
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| Total segment assets |
49,036,440 |
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34,672,686 |
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(As Revised) |
| Unallocated cash and cash equivalents and restricted cash |
19,992,282 |
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20,819,629 |
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| Unallocated property and equipment |
913,988 |
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1,063,815 |
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| Other unallocated assets |
11,036,188 |
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9,257,153 |
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| Total assets |
$ |
80,978,898 |
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$ |
65,813,283 |
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