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SEGMENTS
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
SEGMENTS

4. SEGMENTS

 

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision-maker is the CEO. The Company operates in and reports four business segments: real estate, digital transformation technology, biohealth, and other business activities. The Company’s reportable segments are determined based on the services they perform and the products they sell, not on the geographic area in which they operate. The Company’s chief operating decision maker evaluates segment performance based on segment revenue. Costs excluded from segment income (loss) before taxes and reported as “Other” consist of corporate general and administrative activities which are not allocable to the four reportable segments.

 

The following table summarizes the Company’s segment information for the following balance sheet dates presented, and for the nine months ended September 30, 2023 and 2022:

 

 

   Real Estate   Digital Transformation Technology   Biohealth Business   Other   Total 
                     
Nine Months Ended on September 30, 2023                         
Revenue  $20,227,362   $28,094   $12,786   $802,741   $21,070,983 
Cost of Sales   (12,755,702)   (9,145)   (21,516)   (222,470)   (13,008,833)
Gross Margin   7,471,660    18,949    (8,730)   580,271    8,062,150 
Operating Expenses   (1,418,743)   (327,746)   (638,738)   (4,734,061)   (7,119,288)
Operating Income (Loss)   6,052,917    (308,797)   (647,468)   (4,153,790)   942,862 
Other Income (Expense)   58,635    36,855    (223,570)   (27,932,254)   (28,060,334)
Net Income (Loss) Before Income Tax   6,111,552    (271,942)   (871,038)   (32,086,044)   (27,117,472)

 

   Real Estate   Digital Transformation Technology   Biohealth Business   Other   Total 
                     
Nine Months Ended on September 30, 2022                         
Revenue  $2,494,707   $14,066   $771,847   $319,862   $3,600,482 
Cost of Sales   (1,880,914)   (4,574)   (512,931)   (80,177)   (2,478,596)
Gross Margin   613,793    9,492    258,916   239,685    1,121,886 
Operating Expenses   (1,988,323)   (255,764)   (587,051)   (3,669,563)  $(6,500,701)
Operating Loss   (1,374,530)   (246,272)   (328,135)   (3,429,878)   (5,378,815)
Other Income (Expense)   26,505    (1,359,913)   (3,535,998)   (20,677,529)  $(25,546,935)
Net Loss Before Income Tax   (1,348,025)   (1,606,185)   (3,864,133)   (24,107,407)   (30,925,750)
                          
September 30, 2023                         
Cash and Restricted Cash  $2,819,771   $340,891   $779,853   $24,825,105   $28,765,620 
Total Assets   61,826,413    10,582,474    3,231,865    81,373,656    157,014,408 
                          
December 31, 2022                         
Cash and Restricted Cash  $2,592,577   $514,260   $1,338,404   $14,076,662   $18,521,903 
Total Assets   57,951,324    3,184,416    4,861,615    87,492,981    153,490,336