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Segment and Geographic Information | 6 Months Ended
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Jun. 30, 2025
Segment and Geographic Information [Abstract] |
SEGMENT AND GEOGRAPHIC INFORMATION | 13. SEGMENT AND GEOGRAPHIC INFORMATION Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker, which is our Chief Executive Officer, in deciding how to allocate resources and in assessing performance. We manage our business globally within one operating segment in accordance with ASC Topic 280, Segment Reporting (“ASC 280”). Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. The Company has one reportable segment – biospecimens. The Company derive its revenue by procuring specimens from its healthcare provider network and then distributing these annotated biospecimens to its research client base. Set out below is information about the assets and liabilities as at June 30, 2025 and December 31, 2024 and profit or loss from each segment for the six months ended June 30, 2025 and 2024.
|  | June 30, 2025 |  |  | December 31, 2024 |
Financial statement line item: |  |  |  |  |  |
Reportable segment assets |  | $ | 6,034,501 |  |  | $ | 9,350,230 |
Reportable segment liabilities |  |  | 5,412,528 |  |  |  | 6,039,222 |
|  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Financial statement line item: |  |  |  |  |  |
Revenues from external customers |  | $ | 1,770,645 |  |  | $ | 5,153,672 |
Less: |  |  |  |  |  |  |  |
Cost of revenue, excluding amortization |  |  | 1,005,679 |  |  |  | 2,328,621 |
Technology expenses, excluding amortization |  |  | 346,242 |  |  |  | 748,339 |
Sales and marketing expenses |  |  | 605,522 |  |  |  | 1,748,890 |
Supply development expenses |  |  | 192,771 |  |  |  | 335,350 |
Fulfillment expenses |  |  | 541,991 |  |  |  | 844,043 |
Other segment items (a) |  |  | 910,958 |  |  |  | 2,986,859 |
Depreciation & amortization expense |  |  | 865,441 |  |  |  | 1,203,433 |
Interest expense |  |  | 1,946 |  |  |  | 8,939 |
Interest income |  |  | (3,186 | ) |  |  | (39,661 | )
Interest and penalties on sales tax liability |  |  | 8,920 |  |  |  | — |
Income tax expense |  |  | — |  |  |  | — |
Reportable segment income (loss) |  | $ | (2,705,639 | ) |  | $ | (5,011,141 | )
| (a) | Other segment items included in reportable segment net loss consists mainly of general and administrative expenses for corporate functions, such as insurance expenses, associated software licenses, other payroll and related expenses for human resources, legal, finance and executive teams, other consulting and professional fees for corporate services rendered, other marketing expenses, franchise tax, other gains and losses, and other overhead expense.
The Company’s reportable business segment sell their goods in four geographic locations:
| ● | Americas
| ● | Europe
| ● | Middle East/Africa
| ● | Asia Pacific
The following table represents the percentage of total revenue by geographic area, based on the location of the customer for the six months ended June 30, 2025 and 2024, respectively.
|  | 2025 |  |  | 2024 |
Americas |  |  | 94.93 | % |  |  | 88.27 | %
Europe, Middle East and Africa |  |  | 2.47 | % |  |  | 10.09 | %
Asia Pacific |  |  | 2.60 | % |  |  | 1.64 | %

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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