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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2025
SEGMENT REPORTING  
SEGMENT REPORTING

NOTE 18 – SEGMENT REPORTING

 

A. Basis for segmentation

 

The Group operates through various operating segments, which include the wholesale sector, the pharmaceutical manufacturing sector, the nutraceuticals and pharmaceuticals sector and other, with only the first three of them being reportable segments based on the criteria (quantitative thresholds) of ASC 280. The financial information utilized by our Chief Operating Decision Maker (“CODM”), which is our CEO, for resource allocation and performance evaluation is included within the operating segments described above. The reconciling items presented in the tables below are excluded from the segment data provided to the Chief Operating Decision Maker (“CODM”). The “Other” category primarily consists of corporate expenses incurred by the Group’s parent entity, including, but not limited to, costs related to SEC legal and compliance matters, executive compensation, audit and review fees, and other corporate overhead expenses.

 

B. Information about reportable segments

 

The table below presents information about the Company's reportable segments for the three-month period ended June 30, 2025. The accounting policies followed in the preparation of the reportable segments are the same with those followed in the preparation of the Company's condensed consolidated financial statements.

 

Six-month period ended June 30, 2025

 

 

 

Wholesale

 

 

Pharma

manufacturing

 

 

Nutraceuticals & Pharmaceuticals

 

 

Other

 

 

Total

 

Revenues

 

 

26,033,751

 

 

 

800,958

 

 

 

1,623,520

 

 

 

-

 

 

 

28,458,230

 

Cost of Sales

 

 

(24,386,605)

 

 

(138,384)

 

 

(719,627)

 

 

-

 

 

 

(25,244,617)

Gross Profit

 

 

1,647,146

 

 

 

662,574

 

 

 

903,893

 

 

 

-

 

 

 

3,213,613

 

General and Administrative expenses

 

 

(322,885)

 

 

(305,947)

 

 

(541,941)

 

 

(638,782

 

 

 

(1,809,555)

Salaries

 

 

(863,913

 

 

 

(725,844)

 

 

(665,518)

 

 

(653,187)

 

 

(2,908,462)

Sales and Marketing expenses

 

 

(855)

 

 

(731

) 

 

 

(48,275)

 

 

-

 

 

 

(49,861)

Research and Development costs

 

 

-

 

 

 

-

 

 

 

0

 

 

 

(90,266)

 

 

(90,266)

Net finance costs

 

 

(421,748)

 

 

-

 

 

 

120,692

 

 

 

(240,855)

 

 

(541,911)

Segment profit / (loss)

 

 

37,745

 

 

 

(369,948)

 

 

(231,149)

 

 

(1,623,090)

 

 

(2,186,442)

Reconciling items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

(71,720)

 

 

(103,556)

 

 

(207,428)

 

 

(291,597)

 

 

(674,301)

Stock based compensation

 

 

-

 

 

 

-

 

 

 

0

 

 

 

(1,159,632)

 

 

(1,159,632)

Foreign currency adjustments

 

 

168,432

 

 

 

-

 

 

 

278,855

 

 

 

171,061

 

 

 

618,348

 

Other income and expenses

 

 

17,279

 

 

 

(95,802)

 

 

(1,023)

 

 

(164,592)

 

 

(244,138)

Net profit/(loss) before Income Taxes

 

 

151,736

 

 

 

(569,306)

 

 

(160,745)

 

 

(3,067,850)

 

 

(3,646,165)

 

The following summary describes the operations of each 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