Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.10.0.1
Segment Information
 6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Segment Information

Note 20 – Segment Information (restated)

 

The Company is organized and operates as one operating segment. In accordance with FASB ASC 280 “Segment Reporting”, the Chief Operating Officer is the chief operating decision-maker who reviews operating results to make decisions on allocation of resources and assessment of performance for the entire company.

 

The total revenue by different product lines was as follows:

 

    Three months ended     Six months ended  
    June 30,     June 30,  
Product Line   2017     2016     2017     2016  
    (restated)           (restated)        
MicroParticle Catalyzed Biosensor (“MPC”)   $ 69,848     $ 44,918     $ 155,507     $ 109,702  
Particle ImmunoFiltration Assay (“PIFA”)     426,747       879,081       987,668       1,514,256  
Other     576,266       32,487       596,936       70,552  
Total Revenue   $ 1,072,861     $ 956,486     $ 1,740,111     $ 1,694,510  

 

The total revenue by geographic area determined based on the location of the customers was as follows:

 

    Three months ended     Six months ended  
    June 30,     June 30,  
Geographic Region   2017     2016     2017     2016  
    (restated)           (restated)        
United States   $ 512,257     $ 452,756     $ 1,129,482     $ 1,118,961  
People’s Republic of China     478,205       473,853       502,268       506,398  
Rest of World     82,399       29,877       108,361       69,151  
Total Revenue   $ 1,072,861     $ 956,486     $ 1,740,111     $ 1,694,510  

 

The Company had long-lived assets totaling $62,954 and $61,081 located in the People’s Republic of China and $1,414,023 and $1,500,086 located in the United States as of June 30, 2017 and December 31, 2016, respectively.