Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.7.0.1
Segment Information
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Information

Note 22 - Segment Information

 

    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 allocaton of resources and assessment of performance for the entire company.
     
    The total revenue by different product lines was as follows:

 

    For the ye rs ended  
    December 31,  
Product Line   2016     2015  
MicroParticle Catalyzed Biosensor (“MPC”)   $ 282,516     $ 296,328  
Particle ImmunoFiltrationAssay (“PIFA”)     2,577,148       1,391,017  
Other     97,498       107,149  
Product Revenue Total   $ 2,957,162     $ 1,794,494  
License Fees     3,750       320,556  
Total Revenue   $ 2,960,912     $ 2,115,050  

 

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

 

    For the years ended  
    December 31,  
Geographic Region   2016     2015  
United States   $ 2,330,723     $ 1,579,091  
People’s Republic of China     502,998       37,506  
Rest of World     127,191       498,453  
Total Revenue   $ 2,960,912     $ 2,115,050  

 

    As of December 31, 2016, the Company had long-lived assets totaling $61,081 located in the People’s Republic of China and $1,500,086 located in the United States. All of the Company’s long-lived assets were located in the United States as of December 31, 2015.