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Segment Reporting | 6 Months Ended
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May 31, 2017
Segment Reporting [Abstract] |
Segment Reporting | Note 6 – Segment Reporting During the third quarter of fiscal 2015, the Company purchased certain assets and assumed certain liabilities and contracts that CytoMedical used in the operation of its cord blood business (See Note 2). The Company evaluated and determined that this acquisition qualifies as a separate segment. The Company is organized in two reportable segments:
| 1. | The cellular processing and cryogenic storage of umbilical cord blood and cord tissue stem cells for family use. Revenue is generated from the initial processing and testing fees and the annual storage fees charged each year for storage (the “Umbilical cord blood and cord tissue stem cell service”).
| 2. | The manufacture of PrepaCyte® CB units, the processing technology used to process umbilical cord blood stem cells. Revenue is generated from the sales of the PrepaCyte® CB units (the “PrepaCyte® CB”).
The following table shows, by segment: net revenue, cost of sales, operating profit, depreciation and amortization, interest expense, income tax benefit (expense) and other comprehensive income for the three months and six months ended May 31, 2017:
|  | For the three months ended May 31, 2017 |  |  | For the six months ended May 31, 2017 |
Net revenue |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 6,174,896 |  |  | $ | 11,786,720 |
PrepaCyte®-CB |  |  | 61,855 |  |  |  | 226,655 |
Total net revenue |  | $ | 6,236,751 |  |  | $ | 12,013,375 |
Cost of sales |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 1,517,078 |  |  | $ | 2,909,873 |
PrepaCyte®-CB |  |  | 74,888 |  |  |  | 198,190 |
Total cost of sales |  | $ | 1,591,966 |  |  | $ | 3,108,063 |
Depreciation and amortization |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 22,873 |  |  | $ | 45,439 |
PrepaCyte®-CB |  |  | 9,063 |  |  |  | 18,127 |
Total depreciation and amortization |  | $ | 31,936 |  |  | $ | 63,566 |
Operating income (loss) |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 1,214,346 |  |  | $ | 2,298,038 |
PrepaCyte®-CB |  |  | (22,096 | ) |  |  | 10,338 |
Total operating income |  | $ | 1,192,250 |  |  | $ | 2,308,376 |
Interest expense |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 325,314 |  |  | $ | 622,358 |
PrepaCyte®-CB |  |  | — |  |  |  | — |
Total interest expense |  | $ | 325,314 |  |  | $ | 622,358 |
Income tax expense |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | (331,737 | ) |  | $ | (637,454 | )
PrepaCyte®-CB |  |  | — |  |  |  | — |
Total income tax expense |  | $ | (331,737 | ) |  | $ | (637,454 | )
The following table shows the assets by segment as of May 31, 2017 and November 30, 2016:
|  | As of May 31, 2017 |  |  | As of November 30, 2016 |
Assets |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 20,562,496 |  |  | $ | 18,960,261 |
PrepaCyte®-CB |  |  | 474,121 |  |  |  | 578,207 |
Total assets |  | $ | 21,036,617 |  |  | $ | 19,538,468 |
The following table shows, by segment: net revenue, cost of sales, operating profit, depreciation and amortization, interest expense, income tax benefit (expense) and other comprehensive income for the three months and six months ended May 31, 2016:
|  | For the three months ended May 31, 2016 |  |  | For the six months ended May 31, 2016 |
Net revenue |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 5,706,677 |  |  | $ | 10,727,136 |
PrepaCyte®-CB |  |  | 66,379 |  |  |  | 198,118 |
Total net revenue |  | $ | 5,773,056 |  |  | $ | 10,925,254 |
Cost of sales |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 1,345,370 |  |  | $ | 2,590,393 |
PrepaCyte®-CB |  |  | 85,730 |  |  |  | 188,998 |
Total cost of sales |  | $ | 1,431,100 |  |  | $ | 2,779,391 |
Depreciation and amortization |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 28,555 |  |  | $ | 57,233 |
PrepaCyte®-CB |  |  | 13,317 |  |  |  | 26,187 |
Total depreciation and amortization |  | $ | 41,872 |  |  | $ | 83,420 |
Operating income (loss) |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 915,052 |  |  | $ | 1,056,069 |
PrepaCyte®-CB |  |  | (32,668 | ) |  |  | (17,263 | )
Total operating income |  | $ | 882,384 |  |  | $ | 1,038,806 |
Interest expense |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 335,589 |  |  | $ | 582,532 |
PrepaCyte®-CB |  |  | 7,874 |  |  |  | 22,265 |
Total interest expense |  | $ | 343,463 |  |  | $ | 604,797 |
Income expense |  |  |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | (201,735 | ) |  | $ | (201,735 | )
PrepaCyte®-CB |  |  | — |  |  |  | — |
Total income expense |  | $ | (201,735 | ) |  | $ | (201,735 | )

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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