| 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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Six Months Ended |
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June 30, |
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June 30, |
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| Revenues: |
2022 |
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2021 |
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2022 |
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2021 |
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| Corporate clinics |
$ |
14,492,972 |
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$ |
11,433,072 |
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$ |
27,099,971 |
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$ |
20,903,933 |
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| Franchise operations |
10,564,346 |
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8,785,726 |
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20,395,885 |
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16,862,829 |
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| Total revenues |
$ |
25,057,318 |
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$ |
20,218,798 |
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$ |
47,495,856 |
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$ |
37,766,762 |
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| Depreciation and amortization: |
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| Corporate clinics |
1,430,300 |
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1,247,701 |
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2,806,496 |
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2,341,534 |
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| Franchise operations |
186,247 |
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342 |
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359,735 |
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685 |
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| Corporate administration |
83,929 |
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194,975 |
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163,422 |
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270,665 |
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| Total depreciation and amortization |
$ |
1,700,476 |
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$ |
1,443,018 |
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$ |
3,329,653 |
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$ |
2,612,884 |
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| Segment operating income (loss): |
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| Corporate clinics |
$ |
312,617 |
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$ |
1,825,248 |
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$ |
(125,447) |
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$ |
3,174,712 |
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| Franchise operations |
4,205,048 |
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3,882,468 |
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8,608,287 |
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7,730,241 |
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| Total segment operating income |
$ |
4,517,665 |
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$ |
5,707,716 |
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$ |
8,482,840 |
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$ |
10,904,953 |
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| Reconciliation of total segment operating income to consolidated earnings before income taxes: |
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| Total segment operating income |
$ |
4,517,665 |
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$ |
5,707,716 |
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$ |
8,482,840 |
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$ |
10,904,953 |
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| Unallocated corporate |
(4,044,458) |
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(3,673,373) |
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(8,186,058) |
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(6,898,527) |
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| Consolidated income from operations |
473,207 |
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2,034,343 |
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296,782 |
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4,006,426 |
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| Other expense, net |
(19,286) |
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(16,373) |
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(35,434) |
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(37,909) |
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| Income before income tax benefit |
$ |
453,921 |
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$ |
2,017,970 |
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$ |
261,348 |
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$ |
3,968,517 |
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| Schedule of Reconciliation of Assets from Segment to Consolidated |
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| Segment assets: |
June 30,
2022 |
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December 31,
2021 |
| Corporate clinics |
$ |
51,422,118 |
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$ |
40,722,898 |
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| Franchise operations |
12,782,786 |
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12,593,912 |
| Total segment assets |
64,204,904 |
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53,316,810 |
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| Unallocated cash and cash equivalents and restricted cash |
10,035,590 |
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19,912,338 |
| Unallocated property and equipment |
838,520 |
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857,176 |
| Other unallocated assets |
11,156,780 |
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11,367,885 |
| Total assets |
$ |
86,235,794 |
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$ |
85,454,209 |
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