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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2023
SEGMENT REPORTING  
SEGMENT REPORTING

NOTE 17 – SEGMENT REPORTING

 

A. Basis for segmentation

The Group operates through various operating segments, which are the wholesale sector, the pharmaceutical manufacturing sector, the nutraceuticals and pharmaceuticals sectors and other, with only the first three of them being reportable segments based on the criteria (quantitative thresholds) of ASC 280. The financial information reviewed by our Chief Operating Decision Maker, which is our Board of Directors, is included within the operating segments mentioned above for purposes of allocating resources and evaluating financial performance.

 

B. Information about reportable segments

The table below presents information about the Company's reportable segments for the 3- and 9-month periods ended September 30, 2023. The accounting policies followed in the preparation of the reportable segments are the same with those followed in the preparation of the Company's consolidated financial statements.

 

3-month period ended September 30, 2023

 

 

 

Wholesale

 

 

Pharma manufacturing

 

 

Nutraceuticals & Pharmaceuticals

 

 

Other

 

 

Total

 

Revenues

 

 

11,936,166

 

 

 

91,055

 

 

 

796,576

 

 

 

-

 

 

 

12,823,797

 

Segment profit / (loss)

 

 

(728,986 )

 

 

(604,790 )

 

 

(1,838,942)

 

 

(1,082,184)

 

 

(4,254,902)

Total assets

 

 

23,605,372

 

 

 

11,892,278

 

 

 

29,950,031

 

 

 

6,077,698

 

 

 

71,525,379

 

 

9-month period ended September 30, 2023

 

 

 

Wholesale

 

 

Pharma manufacturing

 

 

Nutraceuticals & Pharmaceuticals

 

 

Other

 

 

Total

 

Revenues

 

 

34,908,505

 

 

 

91,055

 

 

 

2,537,443

 

 

 

-

 

 

 

37,537,003

 

Segment profit / (loss)

 

 

(549,841 )

 

 

(604,790 )

 

 

(2,944,599)

 

 

(1,177,414)

 

 

(5,726,644)

Total assets

 

 

23,605,372

 

 

 

11,892,278

 

 

 

29,950,031

 

 

 

6,077,698

 

 

 

71,525,379

 

 

 

The following summary describes the operations of the reportable segment:

 

Reportable segments

Operations

Wholesale

Distribution and export of pharmaceutical products

Pharma manufacturing

Production of pharmaceutical products

Nutraceutical and pharmaceuticals

Trade of owned nutraceutical & pharmaceutical products