Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING

v3.21.2
SEGMENT REPORTING
9 Months Ended
Sep. 30, 2021
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 (commencing the fourth quarter of 2020), 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

 

    Breast           COVID-19        
    Cancer Test     Alzheimer     Testing     Total  
   

Unaudited

 
Nine months ended September 30, 2021                        
Revenues     -       -       7,773       7,773  
Operating loss     (4,685 )     -       (996 )     (5,681 )
Unallocated amounts:                                
Financing expenses, net                             (17,368 )
Share in losses of affiliated companies accounted for under equity method, net                                 (1,499 )
Net loss                             (24,547 )
Total Assets     10,257       -       6,904       17,161  
Other significant items:                                
Total expenditures for assets of reportable segment     2       -       933       935  
Total depreciation for reportable segment     (22 )     -       (504 )     (526 )

 

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)..

 

C. Revenues by geographic region are as follows:

 

   

Nine months

period ended

September 30,

    Three months
period ended
September 30,
    Nine

months

period ended

September 30,

    Three months period ended September 30,  
    2021     2021     2020     2020  
    Unaudited     Unaudited  
Israel   $ -     $ -   $ -     $  -  
United States     7,773       1,010       1,316       1,284  
Revenues     7,773       1,010       1,316       1,284  

 

 

TODOS MEDICAL LTD.

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Cont.)

(U.S. dollars in thousands)

 

NOTE 8 – SEGMENT REPORTING (Cont.)

 

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

 

    As of     As of  
    September 30, 2021     December 31, 2020  
    Unaudited        
Israel   $ 41     $ 61  
United States     2,550       1,938  
Property and equipment, net   $ 2,591     $ 1,999  

 

E. Major customers

 

During the three and nine months ended September 30, 2020, the Company had a major costumer representing 0% and 56.64% of the Company’s total sales. During the three and nine months ended September 30, 2021, the Company's revenues from the major costumer represented 0% and 58.33% of the Company’s total sales. The Company’s contractual agreement to supply Covid-19 testing kits to the major customer has expired.