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Segment Reporting

12 Months Ended

Nov. 30, 2019

Segment Reporting [Abstract]

Segment Reporting

Note 6– Segment Reporting

During the third quarter of fiscal 2018, the Company purchased the assets and assumed contracts that Cord:Use 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 three 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”).

3. The cellular processing and cryogenic storage of umbilical cord blood stem cells for public use. Revenue is generated from the sale of the cord blood units to the National Marrow Donor Program (“NMDP”), which distributes the cord blood units to transplant centers located in the United States, and around the world.

The following table shows, by segment: net revenue, cost of sales, operating profit, depreciation and amortization, interest expense, income tax (expense) benefit, other comprehensive loss, and assets for the years ended November 30, 2019 and 2018:

		For the years ended November 30,
		2019				2018
Net revenue:
Umbilical cord blood and cord tissue stem cell service		$	30,991,972			$	28,817,872
PrepaCyte CB			172,395				104,323
Public cord blood banking			652,204				296,295
Total net revenue		$	31,816,571			$	29,218,490
Cost of sales:
Umbilical cord blood and cord tissue stem cell service		$	8,490,824			$	7,744,208
PrepaCyte CB			249,487				169,397
Public cord blood banking			1,295,864				626,057
Total cost of sales		$	10,036,175			$	8,539,662
Operating profit:
Umbilical cord blood and cord tissue stem cell service		$	8,152,475			$	5,620,394
PrepaCyte CB			(113,346	)			(101,329	)
Public cord blood banking			(2,976,423	)			(329,762	)
Total operating profit		$	5,062,706			$	5,189,303
Depreciation and amortization:
Umbilical cord blood and cord tissue stem cell service		$	365,057			$	281,072
PrepaCyte CB			36,254				36,254
Public cord blood banking			—				—
Total depreciation and amortization		$	401,311			$	317,326
Interest expense:
Umbilical cord blood and cord tissue stem cell service		$	1,703,446			$	1,546,900
PrepaCyte CB			—				—
Public cord blood banking			—				—
Total interest expense		$	1,703,446			$	1,546,900
Income tax (expense) benefit:
Umbilical cord blood and cord tissue stem cell service		$	(1,100,641	)		$	(4,472,504	)
PrepaCyte CB			—				—
Public cord blood banking			—				—
Total income tax (expense) benefit		$	(1,100,641	)		$	(4,472,504	)
Other comprehensive income (loss):
Umbilical cord blood and cord tissue stem cell service		$	—			$	300,119
PrepaCyte CB			—				—
Public cord blood banking			—				—
Total other comprehensive income (loss)		$	—			$	300,119

The following table shows the assets by segment as of November 30, 2019 and November 30, 2018:

		2019				2018
Assets:
Umbilical cord blood and cord tissue stem cell service		$	28,975,002			$	26,239,260
PrepaCyte CB			289,804				319,802
Public cord blood banking			13,621,354				15,831,081
Total assets		$	42,886,160			$	42,390,143

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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