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Segment Information
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment Information

14. Segment Information

 

The Company’s eight businesses lines are organized, managed and internally reported as four operating segments. One of these operating segments, Premier Packaging, is the Company’s packaging and printing group. Premier Packaging operates in the paper board folding carton, smart packaging, and document security printing markets. It markets, manufactures, and sells mailers, photo sleeves, sophisticated custom folding cartons, and complex 3-dimensional direct mail solutions. These products are designed to provide functionality and marketability while also providing counterfeit protection. A second, BioHealth Group, invests in, or acquires companies in the biohealth and biomedical fields, including businesses focused on the advancement of drug discovery and prevention, inhibition, and treatment of neurological, oncological, and immune related diseases. This division is also developing open-air defense initiatives, which curb transmission of air-borne infectious diseases, such as tuberculosis and influenza. The BioHealth Group is also targeting unmet, urgent medical needs. A third operating segment, Securities and Fintech Group (“Securities”) was established to develop and/or acquire assets and investments in the securities trading and/or funds management arena. Further, Securities, in partnership with recognized global leaders in alternative trading systems, intends to own and operate in the US a single or multiple vertical digital asset exchanges for securities, tokenized assets, utility tokens, stable coins and cryptocurrency via a digital asset trading platform using blockchain technology. The scope of services within this section is planned to include asset issuance and allocation (securities and cryptocurrency), FPO, IPO, ITO, PPO, STO and UTO listings on a primary market(s), asset digitization/tokenization (securities, currency and cryptocurrency), and the listing and trading of digital assets (securities and cryptocurrency) on a secondary market(s). Also in this segment is the Company’s real estate investment trust (“REIT”), organized for the purposes of acquiring hospitals and other acute or post-acute care centers from leading clinical operators with dominant market share in secondary and tertiary markets, and leasing each property to a single operator under a triple-net lease. the REIT was formed to originate, acquire, and lease a credit-centric portfolio of licensed medical real estate. The fourth segment, Direct Marketing/Online Sales Group, provides services to assist companies in the emerging growth gig business model of peer-to-peer decentralized sharing marketplaces. It specializes in marketing and distributing its products and services through its subsidiary and partner network, using the popular gig economic marketing strategy as a form of direct marketing. Direct marketing products include, among other things, nutritional and personal care products sold throughout North America, Asia Pacific and Eastern Europe.

 

Our segment structure presented below represents a change from the prior year for the inclusion of our BioHealth Group and REITs segments and the removal of our Plastics segment, Digital Group and IP Technology Management segment as the Plastics segment was discontinued in 2020, DSS Digital was sold and discontinued in May 2021 and activities surrounding our IP Technology Management segment have significantly decreased. The amounts for these segments have been included in the Corporate reporting segment for the three months ended June 30, 2021 and 2020 below for reconciliation purposes.

 

Approximate information concerning the Company’s operations by reportable segment for the three and six months ended June 30, 2021 and 2020 is as follows. The Company relies on intersegment cooperation and management does not represent that these segments, if operated independently, would report the results contained herein:

 

Three Months Ended June 30, 2021  Packaging and Printing   Direct Marketing   Biohealth Group   Securities   Corporate   Total 
Revenue  $3,376,000   $809,000   $-   $

-

   $-   $4,185,000 
Depreciation and amortization   191,000    274,000    278,000    -    78,000    821,000 
Interest expense   19,000    2,000    1,000    67,000    17,000    106,000 
Stock based compensation   1,000    -    -    -    (31,000)   (30,000)
Net income (loss) from continuing operations   65,000    (5,985,000)   (610,000)   (173,000)   (4,022,000)   (10,725,000)
Capital expenditures   1,202,000    -    -    6,565,000    (57,000)   7,710,000 
Identifiable assets   29,463,000    44,772,000    53,717,000    10,939,000    52,270,000    191,161,000 

 

Three Months Ended June 30, 2020  Packaging and Printing   Direct Marketing   Biohealth Group   Securities   Corporate   Total 
Revenue  $2,272,000   $506,000   $-             $-   $2,778,000 
Depreciation and amortization   195,000    -         -        78,000    273,000 
Interest expense   28,000    -    -        14,000    42,000 
Stock based compensation   4,000    -    -        (21,000)   (17,000)
Net income (loss) from continuing operations   64,000    (25,000)   -        (735,000)   (696,000)
Capital expenditures   31,000    -    -        2,000    33,000 
Identifiable assets   9,715,000    1,411,000    -        13,022,000    24,148,000 

 

Six Months Ended June 30, 2021  Packaging and Printing   Direct Marketing   Biohealth Group   Securities   Corporate   Total 
Revenue  $7,237,000   $1,416,000   $-   $-   $-   $8,653,000 
Depreciation and amortization   307,000    319,000    556,000    -    153,000    1,335,000 
Interest expense   39,000    2,000    1,000    67,000    (17,000)    126,000 
Stock based compensation   1,000    -    -    -    (16,000)   (15,000)
Net income (loss) from continuing operations   283,000    (7,785,000)   (1,308,000)   (231,000)   (5,746,000)   (14,787,000)
Capital expenditures   1,202,000    6,000    -    6,565,000    55,000   7,828,000 
Identifiable assets   29,463,000    44,772,000    53,717,000    10,939,000    52,270,000    191,161,000 

 

Six Months Ended June 30, 2020  Packaging and Printing   Direct Marketing   Biohealth Group   Securities   Corporate   Total 
Revenue  $5,438,000   $1,078,000   $     -   $      -   $-   $6,516,000 
Depreciation and amortization   418,000    -    -    -    155,000    573,000 
Interest expense   55,000    -    -    -    18,000    73,000 
Stock based compensation   8,000    -    -    -    46,000    54,000 
Net income (loss) from continuing operations   86,000    179,000    -    -    (1,941,000)   (1,676,000)
Capital expenditures   76,000    -    -    -    4,000    80,000 
Identifiable assets   9,715,000    1,411,000    -    -    13,022,000    24,148,000 

 

 

The following tables disaggregate our business segment revenues by major source:

 

 

Printed Products Revenue Information:

 

Three months ended June 30, 2021    
Packaging Printing and Fabrication  $3,336,000 
Commercial and Security Printing   40,000 
Total Printed Products  $3,376,000 

 

Three months ended June 30, 2020    
Packaging Printing and Fabrication  $2,103,000 
Commercial and Security Printing   169,000 
Total Printed Products  $2,272,000 

 

Six months ended June 30, 2021    
Packaging Printing and Fabrication  $7,056,000 
Commercial and Security Printing   181,000 
Total Printed Products  $7,237,000 

 

Six months ended June 30, 2020    
Packaging Printing and Fabrication  $5,067,000 
Commercial and Security Printing   371,000 
Total Printed Products  $5,438,000 

 

Direct Marketing  

 

Three months ended June 30, 2021    
Direct Marketing Internet Sales  $809,000 
Total Direct Marketing  $809,000 

 

Three months ended June 30, 2020    
Direct Marketing Internet Sales  $506,000 
Total Direct Marketing  $506,000 

 

Six months ended June 30, 2021    
Direct Marketing Internet Sales  $1,416,000 
Total Direct Marketing  $1,416,000 

 

Six months ended June 30, 2020    
Direct Marketing Internet Sales  $1,078,000 
Total Direct Marketing  $1,078,000