| 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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Nine Months Ended |
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September 30, |
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September 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 |
$ |
17,544,658 |
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$ |
17,882,303 |
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$ |
52,730,898 |
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$ |
52,813,098 |
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| Franchise operations |
12,653,832 |
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11,591,646 |
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37,450,319 |
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34,268,855 |
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| Total revenues |
$ |
30,198,490 |
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$ |
29,473,949 |
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$ |
90,181,217 |
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$ |
87,081,953 |
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| Depreciation and amortization: |
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| Corporate clinics |
$ |
923,073 |
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$ |
2,067,803 |
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$ |
3,238,919 |
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$ |
6,027,561 |
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| Franchise operations |
239,364 |
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190,867 |
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692,678 |
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597,557 |
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| Corporate administration |
76,796 |
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90,536 |
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235,355 |
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268,411 |
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| Total depreciation and amortization |
$ |
1,239,233 |
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$ |
2,349,206 |
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$ |
4,166,952 |
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$ |
6,893,529 |
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| Segment operating income (loss): |
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| Corporate clinics |
$ |
(2,722,741) |
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$ |
(931,366) |
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$ |
(1,484,746) |
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$ |
(1,331,630) |
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| Franchise operations |
5,589,315 |
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5,139,006 |
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14,865,430 |
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13,913,150 |
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| Total segment operating income |
$ |
2,866,574 |
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$ |
4,207,640 |
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$ |
13,380,684 |
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$ |
12,581,520 |
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| Reconciliation of total segment operating income to consolidated loss before income taxes: |
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| Total segment operating income |
$ |
2,866,574 |
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$ |
4,207,640 |
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$ |
13,380,684 |
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$ |
12,581,520 |
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| Unallocated corporate |
(6,052,461) |
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(5,105,687) |
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(18,974,281) |
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(14,507,231) |
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| Consolidated loss from operations |
(3,185,887) |
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(898,047) |
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(5,593,597) |
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(1,925,711) |
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| Other income (expense), net |
83,333 |
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(6,244) |
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198,873 |
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3,708,399 |
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| (Loss) income before income tax expense |
$ |
(3,102,554) |
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$ |
(904,291) |
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$ |
(5,394,724) |
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$ |
1,782,688 |
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| Schedule of Reconciliation of Assets from Segment to Consolidated |
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September 30,
2024 |
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December 31,
2023 |
| Segment assets: |
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| Corporate clinics |
$ |
42,306,186 |
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$ |
52,210,617 |
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| Franchise operations |
11,704,033 |
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10,521,582 |
| Total segment assets |
54,010,219 |
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62,732,199 |
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| Unallocated cash and cash equivalents and restricted cash |
21,995,436 |
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19,214,292 |
| Unallocated property and equipment |
570,390 |
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2,843,491 |
| Other unallocated assets |
3,022,777 |
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2,360,877 |
| Total assets |
$ |
79,598,822 |
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$ |
87,150,859 |
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