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SEGMENT INFORMATION | 6 Months Ended
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Mar. 31, 2023
SEGMENT INFORMATION |
SEGMENT INFORMATION | NOTE G – SEGMENT INFORMATION As detailed in Note B 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 CODM. Information regarding operations by segment for the three-month period ended March 31, 2023 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ |  | ​
​ |  | Production |  | Services |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | 255,626 | ​ | $ | — | ​ | $ | 41,828 | ​ | $ | 297,454
Service revenues | ​ |  | 83,906 | ​ |  | — | ​ |  | 85,152 | ​ |  | 169,058
Clinical laboratory service revenues | ​ |  | — | ​ |  | 3,971,582 | ​ |  | — | ​ |  | 3,971,582
Less intersegment revenues | ​ |  | — | ​ |  | (30,480) | ​ |  | — | ​ |  | (30,480)
Total revenues | ​ | $ | 339,532 | ​ | $ | 3,941,102 | ​ | $ | 126,980 | ​ | $ | 4,407,614
Gross profit | ​ | $ | 215,477 | ​ | $ | 1,650,113 | ​ | $ | (58,155) | ​ | $ | 1,807,435
(Loss) income from segment operations (a) | ​ | $ | (1,054,123) | ​ | $ | 492,288 | ​ | $ | (914,736) | ​ | $ | (1,476,571)
​ ​ NOTE G – SEGMENT INFORMATION, continued Information regarding operations by segment for the three-month period ended March 31, 2022 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ |  | ​
​ |  | Production |  | Services |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | — | ​ | $ | 180,023 | ​ | $ | 228,328 | ​ | $ | 408,351
Service revenues | ​ |  | 158,243 | ​ |  | — | ​ |  | 90,447 | ​ |  | 248,690
Clinical laboratory service revenues | ​ |  | — | ​ |  | 5,623,922 | ​ |  | — | ​ |  | 5,623,922
Less intersegment revenues | ​ |  | — | ​ |  | (133,680) | ​ |  | — | ​ |  | (133,680)
Total revenues | ​ | $ | 158,243 | ​ | $ | 5,670,265 | ​ | $ | 318,775 | ​ | $ | 6,147,283
Gross profit | ​ | $ | 158,243 | ​ | $ | 2,335,169 | ​ | $ | (4,927) | ​ | $ | 2,488,485
(Loss) income from segment operations (a) | ​ | $ | (1,049,207) | ​ | $ | 1,084,388 | ​ | $ | (1,292,632) | ​ | $ | (1,257,451)
​ Information regarding operations by segment for the six-month period ended March 31, 2023 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ |  | ​
​ |  | Production |  | Services |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | 383,132 | ​ | $ | — | ​ | $ | 430,718 | ​ | $ | 813,850
Service revenues | ​ |  | 205,649 | ​ |  | — | ​ |  | 195,470 | ​ |  | 401,119
Clinical laboratory service revenues | ​ |  | — | ​ |  | 8,537,397 | ​ |  | — | ​ |  | 8,537,397
Less intersegment revenues | ​ |  | — | ​ |  | (82,000) | ​ |  | — | ​ |  | (82,000)
Total revenues | ​ | $ | 588,781 | ​ | $ | 8,455,397 | ​ | $ | 626,188 | ​ | $ | 9,670,366
Gross profit | ​ | $ | 386,401 | ​ | $ | 3,583,332 | ​ | $ | 215,385 | ​ | $ | 4,185,118
(Loss) income from segment operations (a) | ​ | $ | (1,906,376) | ​ | $ | 1,602,172 | ​ | $ | (1,389,451) | ​ | $ | (1,693,655)
​ Information regarding operations by segment for the six-month period ended March 31, 2022 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ |  | ​
​ |  | Production |  | Services |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | — | ​ | $ | 522,844 | ​ | $ | 711,818 | ​ | $ | 1,234,662
Service revenues | ​ |  | 247,681 | ​ |  | — | ​ |  | 140,282 | ​ |  | 387,963
Clinical laboratory service revenues | ​ |  | — | ​ |  | 8,973,580 | ​ |  | — | ​ |  | 8,973,580
Less intersegment revenues | ​ |  | — | ​ |  | (283,216) | ​ |  | — | ​ |  | (283,216)
Total revenues | ​ | $ | 247,681 | ​ | $ | 9,213,208 | ​ | $ | 852,100 | ​ | $ | 10,312,989
Gross profit | ​ | $ | 247,681 | ​ | $ | 3,155,859 | ​ | $ | 194,083 | ​ | $ | 3,597,623
(Loss) income from segment operations (a) | ​ | $ | (1,973,984) | ​ | $ | 749,400 | ​ | $ | (2,189,032) | ​ | $ | (3,413,616)
​ NOTE G – SEGMENT INFORMATION, continued Reconciliation of segment loss from operations to consolidated loss before provision for income taxes is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Three-Month Period Ended: | ​ | March 31,
​ |  | 2023 |  | 2022
Loss from operations of reportable segments | ​ | $ | (1,476,571) | ​ | $ | (1,257,451)
General corporate expenses (b) | ​ |  | (1,227,453) | ​ |  | (896,785)
Interest income | ​ |  | 3,639 | ​ |  | 5,540
Unrealized gain on change in fair value of warrants classified as a liability | ​ |  | 3,250,900 | ​ |  | 782,500
Transaction cost allocated to warrant liabilities | ​ | ​ | — | ​ | ​ | (391,335)
Other income (expense), net | ​ |  | 661 | ​ |  | (2,266)
Consolidated income (loss) before provision for income taxes | ​ | $ | 551,176 | ​ | $ | (1,759,797)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Six-Month Period Ended: | ​ | March 31,
​ |  | 2023 |  | 2022
Loss from operations of reportable segements | ​ | $ | (1,693,655) | ​ | $ | (3,413,616)
General corporate expenses (b) | ​ |  | (2,229,347) | ​ |  | (3,447,197)
Interest income | ​ |  | 7,325 | ​ |  | 5,813
Unrealized gain on change in fair value of warrants classified as a liability | ​ |  | 613,100 | ​ |  | 782,500
Transaction cost allocated to warrant liabilities | ​ | ​ | — | ​ | ​ | (391,335)
Other income (expense), net | ​ |  | 9,507 | ​ |  | (16,873)
Consolidated loss before provision for income taxes | ​ | $ | (3,293,070) | ​ | $ | (6,480,708)
​
| (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.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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