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SEGMENT AND GEOGRAPHIC AREA INFORMATION
 12 Months Ended
Sep. 30, 2024
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, 2024 is as follows:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Therapeutic DNA

​

MDx Testing

​

DNA Tagging and

​

​

​

​

    

Production

    

Services 

    

Security Products

    

Consolidated

Revenues:

 

​

  

 

​

  

 

​

  

 

​

  

Product revenues

​

$

560,000

​

$

—

​

$

514,813

​

$

1,074,813

Service revenues

​

 

335,354

​

​

—

​

​

703,323

​

​

1,038,677

Clinical laboratory service revenues

​

 

—

​

​

1,330,850

​

​

—

​

​

1,330,850

Less intersegment revenues

​

 

—

​

​

(12,920)

​

​

—

​

​

(12,920)

Total revenues

​

$

895,354

​

$

1,317,930

​

$

1,218,136

​

$

3,431,420

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross profit

​

$

678,166

​

$

(49,830)

​

$

388,543

​

$

1,016,879

(Loss) income from segment operations (a)

​

$

(4,789,268)

​

$

(1,489,220)

​

$

(2,551,983)

​

$

(8,830,471)

​

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)

​

Reconciliation of segment loss from operations to corporate loss:

​

​

​

​

​

​

​

​

​

​

September 30,

​

    

2024

​

2023

Loss from operations of reportable segments

    

$

(8,830,471)

    

$

(6,137,013)

General corporate expenses (b)

​

 

(5,194,294)

​

 

(4,816,277)

Interest income

​

 

176,301

​

 

75,332

Unrealized gain on change in fair value of warrants classified as a liability

​

​

9,430,000

​

​

—

Unrealized loss on change in fair value of warrants classified as a liability - warrant modification

​

​

(394,000)

​

​

—

Transaction costs allocated to registered direct offering

​

​

(633,198)

​

​

854,400

Transaction costs allocated to warrant liabilities

​

​

—

​

​

—

Loss on issuance of warrants

​

​

(1,633,767)

​

​

—

Other income (expense), net

​

 

(8,877)

​

$

642

Consolidated loss before provision for income taxes

​

$

(7,088,306)

​

$

(10,022,916)

(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:

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​

​

​

​

​

​

​

​

​

Year Ended September 30, 

​

    

2024

    

2023

Americas

​

$

2,269,826

​

$

12,222,650

Europe

​

 

172,368

​

​

258,355

Asia and other

​

 

989,226

​

​

886,438

Total

​

$

3,431,420

​

$

13,367,443

​