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SEGMENT INFORMATION | 9 Months Ended
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Jun. 30, 2024
SEGMENT INFORMATION |
SEGMENT INFORMATION | NOTE H – 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 June 30, 2024 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ |  | ​
​ |  | Production |  | Services and Kits |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | 218,858 | ​ | $ | — | ​ | $ | 27,786 | ​ | $ | 246,644
Service revenues | ​ |  | 59,901 | ​ |  | — | ​ |  | 166,244 | ​ |  | 226,145
Clinical laboratory service revenues | ​ |  | — | ​ |  | 325,930 | ​ |  | — | ​ |  | 325,930
Less intersegment revenues | ​ |  | — | ​ |  | (1,200) | ​ |  | — | ​ |  | (1,200)
Total revenues | ​ | ​ | 278,759 | ​ | ​ | 324,730 | ​ | ​ | 194,030 | ​ | ​ | 797,519
Gross profit | ​ | ​ | 194,341 | ​ | ​ | (12,260) | ​ | ​ | 63,151 | ​ | ​ | 245,232
Loss from segment operations (a) | ​ | ​ | (1,319,093) | ​ | ​ | (231,160) | ​ | ​ | (693,953) | ​ | ​ | (2,244,206)
​ Information regarding operations by segment for the three-month period ended June 30, 2023 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ |  | ​
​ |  | Production |  | Services |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | 230,544 | ​ | $ | — | ​ | $ | 86,406 | ​ | $ | 316,950
Service revenues | ​ |  | 174,962 | ​ |  | — | ​ |  | 250,732 | ​ |  | 425,694
Clinical laboratory service revenues | ​ |  | — | ​ |  | 2,188,817 | ​ |  | — | ​ |  | 2,188,817
Less intersegment revenues | ​ |  | — | ​ |  | (14,120) | ​ |  | — | ​ |  | (14,120)
Total revenues | ​ | $ | 405,506 | ​ | $ | 2,174,697 | ​ | $ | 337,138 | ​ | $ | 2,917,341
Gross profit | ​ | $ | 290,541 | ​ | $ | 829,798 | ​ | $ | 148,979 | ​ | $ | 1,269,318
(Loss) income from segment operations (a) | ​ | $ | (717,126) | ​ | $ | 14,742 | ​ | $ | (998,966) | ​ | $ | (1,701,350)
​ Information regarding operations by segment for the nine-month period ended June 30, 2024 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ |  | ​
​ |  | Production |  | Services and Kits |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | 477,010 | ​ | $ | — | ​ | $ | 470,076 | ​ | $ | 947,086
Service revenues | ​ |  | 202,635 | ​ |  | — | ​ |  | 476,142 | ​ |  | 678,777
Clinical laboratory service revenues | ​ |  | — | ​ |  | 1,004,250 | ​ |  | — | ​ |  | 1,004,250
Less intersegment revenues | ​ |  | — | ​ |  | (11,800) | ​ |  | — | ​ |  | (11,800)
Total revenues | ​ | $ | 679,645 | ​ | $ | 992,450 | ​ | $ | 946,218 | ​ | $ | 2,618,313
Gross profit | ​ | $ | 462,464 | ​ | $ | (56,703) | ​ | $ | 366,219 | ​ | $ | 771,980
Loss from segment operations (a) | ​ | $ | (3,743,588) | ​ | $ | (1,026,263) | ​ | $ | (1,978,308) | ​ | $ | (6,748,159)
​ NOTE H – SEGMENT INFORMATION, continued Information regarding operations by segment for the nine-month period ended June 30, 2023 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Therapeutic DNA | ​ | MDx Testing | ​ | DNA Tagging and | ​ |  | ​
​ |  | Production |  | Services |  | Security Products |  | Consolidated
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Product revenues | ​ | $ | 560,000 | ​ | $ | — | ​ | $ | 570,800 | ​ | $ | 1,130,800
Service revenues | ​ |  | 434,287 | ​ |  | — | ​ |  | 392,526 | ​ |  | 826,813
Clinical laboratory service revenues | ​ |  | — | ​ |  | 10,726,214 | ​ |  | — | ​ |  | 10,726,214
Less intersegment revenues | ​ |  | — | ​ |  | (96,120) | ​ |  | — | ​ |  | (96,120)
Total revenues | ​ | $ | 994,287 | ​ | $ | 10,630,094 | ​ | $ | 963,326 | ​ | $ | 12,587,707
Gross profit | ​ | $ | 676,942 | ​ | $ | 4,413,130 | ​ | $ | 364,364 | ​ | $ | 5,454,436
(Loss) income from segment operations (a) | ​ | $ | (2,623,502) | ​ | $ | 1,616,914 | ​ | $ | (2,388,417) | ​ | $ | (3,395,005)
​ The following shows reconciliation of loss from segment operations to Corporate (loss) income for the three-month periods ended: ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
​ |  | 2024 |  | 2023
Loss from operations of reportable segments | ​ | $ | (2,244,206) | ​ | $ | (1,701,350)
General corporate expenses (b) | ​ |  | (1,102,487) | ​ |  | (1,157,759)
Interest income | ​ |  | 36,295 | ​ |  | 26,783
Unrealized gain (loss) on change in fair value of warrants classified as a liability | ​ | ​ | 5,160,000 | ​ | ​ | (278,400)
Other (expense) income, net | ​ | ​ | (101) | ​ | ​ | (3,469)
Consolidated income (loss) before provision for income taxes | ​ | $ | 1,849,501 | ​ | $ | (3,114,195)
​ The following shows reconciliation of loss from segment operations to Corporate loss for the nine-month periods ended: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
​ |  | 2024 |  | 2023
Loss from operations of reportable segments | ​ | $ | (6,748,159) | ​ | $ | (3,395,005)
General corporate expenses (b) | ​ |  | (4,005,351) | ​ |  | (3,387,464)
Interest income | ​ |  | 84,972 | ​ |  | 34,108
Unrealized gain on change in fair value of warrants classified as a liability | ​ |  | 9,564,000 | ​ |  | 334,700
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) | ​ | ​ | —
Loss on issuance of warrants | ​ | ​ | (1,633,767) | ​ | ​ | —
Other (expense) income, net | ​ |  | (9,060) | ​ |  | 6,396
Consolidated loss before provision for income taxes | ​ | $ | (3,774,563) | ​ | $ | (6,407,265)
​
| (a) | Segment operating (loss) income consists of net sales, less cost of sales, specifically identifiable research and development, and selling, general and administrative expenses.
| (b) | General corporate expenses consist of selling, general and administrative expenses that are not specifically identifiable to a segment.

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