Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING

v3.22.2.2
SEGMENT REPORTING
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 8 – SEGMENT REPORTING

 

A. General information

 

Commencing 2020, the operations of the Company are conducted through three different core activities: Breast Cancer Test (TM-B1, TM-B2), Alzheimer and COVID-19 testing, each of which are operating segments. These activities also represent the reportable segments of the Group.

 

The reportable segments are viewed and evaluated separately by Company management, since the marketing strategies, processes and expected long term financial performances of the segments are different.

 

B. Information about reported segment profit or loss and assets

 

                               
                COVID-19              
    Breast Cancer Test     Alzheimer     Testing and related products    

Un-allocated

    Total  
    Unaudited  
Nine months ended September 30, 2022                              
Revenues     -       -       6,292       -       6,292  
Operating gain (loss)     (1,352 )     -       1,061       (7,639 )     (7,930 )
Unallocated amounts:                                        
Financing expenses, net                             (11,735 )     (11,735 )
Other losses                             (396 )     (396 )
Share in losses of affiliated companies accounted for under equity method, net                                   60       60  
Net loss     (1,352 )     -       1,061       (19,710 )     (20,001 )

 

                               
                COVID-19              
    Breast Cancer Test    

Alzheimer

    Testing and related products     Un-allocated     Total  
    Unaudited  
Nine months ended September 30, 2021                              
Revenues     -       -       7,773       -       7,773  
Operating gain (loss)     (4,685 )     -       (1,003 )     -       (5,688 )
Unallocated amounts:                                        
Financing expenses, net                             (17,360 )     (17,360 )
Share in losses of affiliated companies accounted for under equity method, net                             (1,499 )     (1,499 )
Net loss     (4,685 )     -       (1,003 )     (18,859 )     (24,547 )

 

The evaluation of performance is based on the operating income of each of the three reportable segments.

 

Accounting policies of the segments are the same as those described in the accounting policies applied in the consolidated financial statements.

 

Due to the reportable segments’ nature, there have been no inter-segment sales or transfers during the reported periods.

 

Financing expenses, net and the share of the Company in losses of affiliated companies were not allocated to the reportable segments, since these items are carried and evaluated on the enterprise level.

 

Management has determined that none of the equity method investees is eligible to be considered as reportable segment as they do not meet the criteria in ASC Topic 280-10-50 (or they did not commence their operations).

 

 

TODOS MEDICAL LTD.

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Cont.)

(U.S. dollars in thousands)

 

C. Revenues by geographic region are as follows:

 

    2022     2021     2022     2021  
   

Nine months period ended

September 30,

   

Three months period ended

September 30,

 
    2022     2021     2022     2021  
    Unaudited     Unaudited  
Israel   $ -     $ -     $ -     $ -  
United States     6,292       7,773       1,914       1,010  
Total   $ 6,292     $ 7,773     $ 1,914     $ 1,010  

 

NOTE 8 – SEGMENT REPORTING (continue)

 

D. Property and equipment, net, by geographic areas:

 

    2022     2021  
   

As of

September 30,

   

As of

December 31,

 
    2022     2021  
    Unaudited  
Israel   $ 25     $ 34  
United States     1,573       2,011  
Property and equipment, net   $ 1,598     $ 2,045  

 

E. Major customers

 

    2022     2021  
    As of September 30,  
    2022     2021  
Client A     -       54.3 %
Client B     11.5 %     7.3 %
Client C     1.2 %     11.4 %
Client D     8.0 %     0.2 %
Total     20.7 %     81.9 %