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SEGMENT INFORMATION
 9 Months Ended
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.