XML 26 R14.htm IDEA: XBRL DOCUMENT v3.25.1
Note 8 - Segment
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 8:     Segment

 

The Company operates and manages its business as one reportable segment and one operating segment, which is the business of developing and commercializing synthetic protein products using the Company’s proprietary microbial platforms, including C1 and DapibusTM. The Company's chief operating decision maker, or CODM, is the Company's senior management team that includes the Chief Executive Officer, Chief Operating Officer and Chief Financial Officer. The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is also reported on the consolidated statements of operations.

 

The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. The Company operates in the U.S. and Europe. All material long-lived assets of the Company reside in the U.S. For geographic information about the Company’s product revenues, see Note 1, Concentration. Long-lived assets primarily consist of operating lease right-of-use assets.

 

The CODM uses consolidated net loss to evaluate the Company's spending and monitor budget versus actual results. The monitoring of budgeted versus actual results is used in assessing the performance of segment and in establishing resource allocation across the organization. Factors used in determining the reportable segment include the nature of the Company's operating activities, the organizational and reporting structure and the type of information reviewed by the CODM to allocate resources and evaluate financial performance. The accounting policies of the segment are the same as those described in Note 1 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K.

 

The CODM reviews cash, cash equivalents and investment securities as a measure of segment assets. As of  March 31, 2025 and December 31, 2024, the Company’s cash, cash equivalents and investment securities were $7.3 million and $9.3 million, respectively.

 

The following table presents information about segment revenue, significant segment expenses and segment operating loss for the three months ended  March 31, 2025 and 2024:

 

  

Three Months Ended March 31,

 
  

2025

  

2024

 

Total revenues

 $393,572  $334,617 

Total cost of revenues

  297,658   143,955 
         

Research and development expenses:

        

Outside contracted services

  356,256   388,246 

Personnel related costs

  104,682   93,883 

Facilities, overhead, and other

  17,007   28,150 

General and administrative expenses:

  -     

Compensation and related expenses

  632,522   666,480 

Business consulting expenses

  181,227   206,372 

Legal and professional services

  331,097   365,159 

Other G&A expenses

  243,496   256,798 

Share-based compensation expenses

  225,030   306,479 

Foreign currency exchange loss

  7,072   4,903 

Other Income (expenses), net

  25,104   (115,962)

Net loss

 $(2,027,579) $(2,009,846)