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(3) SEGMENT ANALYSIS
 6 Months Ended
Jun. 30, 2011
Segment Reporting, General Information
(3) SEGMENT ANALYSIS

The Company has two operating segments: Equipment Sales and Related Services, and Cryobanking and Related Services.

The Equipment Sales and Related Services segment comprises the Blood Volume Analyzer equipment and related activity. This includes equipment sales, equipment rentals, equipment delivery fees, BVA-100 kit sales and service contract revenues.

The Cryobanking and Related Services segment is comprised of activity relating to the storage of blood and semen, and related laboratory services and handling fees.

Although not deemed an operating segment: the Company reports a third business segment; Investment activity. This segment reports the activity of the Company’s investment portfolio. This includes all earnings, gains and losses, and expenses relating to these investments.

The following table summarizes the results of each segment described above for the three months ended June 30, 2011 (unaudited).

   
June 30, 2011
 
   
Equipment
Sales &
Related
Services
   
Cryobanking
& Related
Services
   
Investment
Activity
   
Total
 
                         
Revenues
 
$
285,097
   
$
73,042
   
$
—
   
$
358,139
 
                                 
Expenses
                               
Cost of sales
   
155,056
     
5,671
     
—
     
160,727
 
Research and development expenses
   
616,480
     
53,303
     
—
     
669,783
 
Selling, general and administrative expenses
   
726,025
     
145,401
     
—
     
871,426
 
                                 
Total Expenses
   
1,497,561
     
204,375
     
—
     
1,701,936
 
                                 
Operating loss
   
(1,212,464
)
   
(131,333
)
   
—
     
(1,343,797
)
                                 
Investment income, net
   
—
     
—
     
1,055,112
     
1,055,112
 
                                 
Other income (expense)
                               
                                 
Interest expense, net
   
(16,253
)
   
—
     
(65,007
)
   
(81,260
)
                                 
Other income
   
3,094
     
—
     
—
     
3,094
 
                                 
Total Other Expense
   
(13,159
)
   
—
     
(65,007
)
   
(78,166
)
                                 
Income (loss) before income taxes
   
(1,225,623
)
   
(131,333
)
   
990,105
     
(366,851
) 
                                 
Income tax expense (benefit)
   
27,982
     
—
     
(210,313
)     
(182,331
) 
                                 
Net Income (loss)
 
$
(1,253,605
)
 
$
(131,333
)
 
$
1,200,418
   
$
(184,520
) 
                                 
Total assets
 
$
4,808,857
   
$
155,424
   
$
91,272,727
   
$
96,237,008
 

The following table summarizes the results of each segment described above for the three months ended June 30, 2010 (unaudited).

   
June 30, 2010
 
   
Equipment Sales &
Related Services
   
Cryobanking & Related Services
   
Investment Activity
   
Total
 
                         
Revenues
 
$
 274,343
   
$
 93,989
   
$
 —
   
$
 368,332
 
                                 
Expenses
                               
Cost of sales
   
 156,329
     
 9,082
     
 —
     
 165,411
 
Research and development expenses
   
 687,115
     
 47,454
     
—
     
 734,569
 
Selling, general and administrative expenses
   
 817,469
     
 155,953
     
 —
     
 973,422
 
                                 
Total Expenses
   
1,660,913
     
212,489
     
—
     
1,873,402
 
                                 
Operating loss
   
(1,386,570
)
   
 (118,500
)
   
—
     
(1,505,070
)
                                 
Investment income, net
   
 —
     
 —
     
1,659,357
     
1,659,357
 
                                 
Other income (expense)
                               
                                 
Interest expense, net
   
 (7,100
)
   
 (18
)
   
 (1,801
)
   
 (8,919
)
                                 
Other income
   
 3,042
     
 —
     
—
     
 3,042
 
Total Other Income (expense)
   
(4,058
)
   
(18
)
   
(1,801
)
   
(5,877
)
                                 
Income (loss) before income taxes
   
(1,390,628
)
   
(118,518
)
   
 1,657,556
     
 148,410
 
Income tax (benefit )
   
—
     
—
     
(39,646
)
   
(39,946
)
                                 
Net Income (loss)
 
$
 (1,390,628
)
 
$
 (118,518
)
 
$
 1,697,502
   
$
188,356
 
                                 
Total assets
 
$
5,066,572
   
$
197,715
   
$
 74,960,559
   
$
80,224,846
 

The following table summarizes the results of each segment described above for the six months ended June 30, 2011 (unaudited).

   
June 30, 2011
 
   
Equipment
Sales &
Related
Services
   
Cryobanking
& Related
Services
   
Investment
Activity
   
Total
 
                         
Revenues
 
$
580,927
   
$
154,681
   
$
—
   
$
735,608
 
                                 
Expenses
                               
Cost of sales
   
309,287
     
16,894
     
—
     
326,181
 
Research and development expenses
   
1,262,307
     
97,066
     
—
     
1,359,373
 
Selling, general and administrative expenses
   
2,263,902
     
305,886
     
—
     
2,569,788
 
                                 
Total Expenses
   
3,835,496
     
419,846
     
—
     
4,255,342
 
                                 
Operating loss
   
(3,254,569
)
   
(265,165
)
   
—
     
(3,519,734
)
                                 
Investment income, net
   
—
     
—
     
872,328
     
872,328
 
                                 
Other income (expense)
                               
                                 
Interest expense, net
   
(22,592
)
   
—
     
(89,316
)
   
(111,908
)
                                 
Other income
   
6,188
     
—
     
—
     
6,188
 
                                 
Total Other Expense
   
(16,404
)
   
—
     
(89,316
)
   
(105,720
)
                                 
Income (loss) before income taxes
   
(3,270,973
)
   
(265,165
)
   
783,012
     
(2,753,126
) 
                                 
Income tax expense (benefit)
   
122,982
     
—
     
(1,365,326
)     
(1,242,344
) 
                                 
Net Income (loss)
 
$
(3,393,955
)
 
$
(265,165
)
 
$
2,148,338
   
$
(1,510,782
)
                                 
Total assets
 
$
4,808,857
   
$
155,424
   
$
91,272,727
   
$
96,237,008
 

The following table summarizes the results of each segment described above for the six months ended June 30, 2010 (unaudited).

   
June 30, 2010
 
   
Equipment Sales &
Related Services
   
Cryobanking & Related Services
   
Investment Activity
   
Total
 
                         
Revenues
 
$
 590,728
   
$
 173,876
   
$
 —
   
$
 764,604
 
                                 
Expenses
                               
Cost of sales
   
 342,290
     
 14,898
     
 —
     
 357,188
 
Research and development expenses
   
 1,523,978
     
 102,556
     
—
     
 1,626,534
 
Selling, general and administrative expenses
   
1,299,213
     
 328,895
     
 —
     
 1,628,108
 
                                 
Total Expenses
   
3,165,481
     
446,349
     
—
     
3,611,830
 
                                 
Operating loss
   
(2,574,753
)
   
 (272,473
)
   
—
     
(2,847,226
)
                                 
Investment income, net
   
 —
     
 —
     
3,496,409
     
 3,496,409
 
                                 
Other income (expense)
                               
                                 
Interest expense, net
   
 (14,246
)
   
 296
     
 (1,233
)
   
 (15,183
)
                                 
Other income
   
 6,083
     
 —
     
—
     
 6,083
 
Total Other Income (Expense)
   
(8,163
)
   
296
     
(1,233
)
   
(9,100
)
                                 
Income (loss) before income taxes
   
(2,582,916
)
   
(272,177
)
   
 3,495,176
     
 640,083
 
                                 
Income tax expense
   
36,000
     
—
     
508,146
     
544,146
 
                                 
Net Income (loss)
 
$
 (2,618,916
)
 
$
 (272,177
)
 
$
 2,987,030
   
$
95,937
 
                                 
Total assets
 
$
5,066,572
   
$
197,715
   
$
 74,960,559
   
$
80,224,846