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SEGMENT AND GEOGRAPHIC AREA INFORMATION | 12 Months Ended
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Sep. 30, 2023
SEGMENT AND GEOGRAPHIC AREA INFORMATION |
SEGMENT AND GEOGRAPHIC AREA INFORMATION | NOTE K – SEGMENT AND GEOGRAPHIC AREA INFORMATION As detailed in Note C above, the Company has three reportable segments. (1) Therapeutic DNA Production Services (2) MDx Testing Services, and (3)DNA Tagging and Security Products and Services. Resources are allocated by our CEO, COO, CFO and CLO whom, collectively the Company has determined to be our Chief Operating Decision Maker (CODM). Information regarding operations by segment for the twelve- month period ended September 30, 2023 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ | ​ | ​
​ |  | Production |  | Services |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | 560,000 | ​ | $ | — | ​ | $ | 658,185 | ​ | $ | 1,218,185
Service revenues | ​ |  | 506,285 | ​ |  | — | ​ |  | 490,581 | ​ |  | 996,866
Clinical laboratory service revenues | ​ |  | — | ​ |  | 11,253,312 | ​ |  | — | ​ |  | 11,253,312
Less intersegment revenues | ​ |  | — | ​ |  | (100,920) | ​ |  | — | ​ |  | (100,920)
Total revenues | ​ | $ | 1,066,285 | ​ | $ | 11,152,392 | ​ | $ | 1,148,766 | ​ | $ | 13,367,443
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross profit | ​ | $ | 748,940 | ​ | $ | 4,409,186 | ​ | $ | 375,306 | ​ | $ | 5,533,432
(Loss) income from segment operations (a) | ​ | $ | (3,792,871) | ​ | $ | 1,206,652 | ​ | $ | (3,550,794) | ​ | $ | (6,137,013)
​ Information regarding operations by segment for the twelve- month period ended September 30, 2022 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ | ​ | ​
​ |  | Production |  | Services |  | Security Products |  | Consolidated
Revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product revenues | ​ | $ | — | ​ | $ | 628,286 | ​ | $ | 1,254,518 | ​ | $ | 1,882,804
Service revenues | ​ |  | 439,355 | ​ |  | — | ​ |  | 319,783 | ​ |  | 759,138
Clinical laboratory service revenues | ​ |  | — | ​ |  | 15,979,631 | ​ |  | — | ​ |  | 15,979,631
Less intersegment revenues | ​ |  | — | ​ |  | (452,896) | ​ |  | — | ​ |  | (452,896)
Total revenues | ​ |  | 439,355 | ​ | ​ | 16,155,021 | ​ |  | 1,574,301 | ​ |  | 18,168,677
Gross profit | ​ |  | 439,355 | ​ |  | 4,827,672 | ​ |  | (213,387) | ​ |  | 5,053,640
Loss from segment operations (a) | ​ |  | (4,497,699) | ​ |  | (464,894) | ​ |  | (4,652,786) | ​ |  | (9,615,379)
​ Reconciliation of segment loss from operations to corporate loss: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30,
​ |  | 2023 | ​ | 2022
Loss from operations of reportable segments |  | $ | (6,137,013) |  | $ | (9,615,379)
General corporate expenses (b) | ​ |  | (4,816,277) | ​ |  | (4,354,384)
Interest income | ​ |  | 75,332 | ​ |  | 7,200
Unrealized gain on change in fair value of warrants classified as a liability | ​ | ​ | 854,400 | ​ | ​ | 17,999,521
Transaction costs allocated to warrant liabilities | ​ | ​ | — | ​ | ​ | (1,668,112)
Loss on issuance of warrants | ​ | ​ | — | ​ | ​ | (10,591,600)
Other income (expense), net | ​ |  | 642 | ​ |  | (47,305)
Consolidated loss before provision for income taxes | ​ | $ | (10,022,916) | ​ | $ | (8,270,059)
| (a) | Segment operating loss consists of net sales less cost of sales, specifically identifiable research and development, and selling, general and administrative expenses.
| (b) | General corporate expenses consists of Selling, general and administrative expenses that are not specifically identifiable to a segment.
​ NOTE K – SEGMENT AND GEOGRAPHIC AREA INFORMATION, continued The Company attributes net revenues from external customers according to the geographic location of the customer. Net revenues by geographic location of customers are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended September 30,
​ |  | 2023 |  | 2022
Americas | ​ | $ | 12,222,650 | ​ | $ | 17,544,444
Europe | ​ |  | 258,355 | ​ |  | 448,847
Asia and other | ​ |  | 886,438 | ​ |  | 175,386
Total | ​ | $ | 13,367,443 | ​ | $ | 18,168,677
​

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