Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING

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SEGMENT REPORTING
3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 7 – 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  
Three months ended March 31, 2022                              
Revenues     -       -       2,199       -       2,199  
Operating loss     (1,107 )     -       (1,303 )     (1,707 )     (4,117 )
Unallocated amounts:                                                     
Financing expenses, net                             (3,471 )     (3,471 )
Share in losses of affiliated companies accounted for under equity method, net                             -       -  
Net loss     (1,107 )     -       (1,303 )     (5,178 )     (7,588 )

  

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:

 

                 
   

Three months period ended

March 31,

 
    2022     2021  
    Unaudited  
Israel   $ -     $ -  
United States     2,199       5,031  
Total     2,199       5,031  

 

 

TODOS MEDICAL LTD.

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Cont.)

(U.S. dollars in thousands)

 

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

 

                 
    As of March 31,     As of December 31,  
    2022     2021  
    Unaudited  
Israel   $ 31     $ 34  
United States     2,082       2,011  
Property and equipment, net   $ 2,113     $ 2,045  

 

E. Major customers

 

                 
    As of March 31,  
    2022     2021  
Client A     -       85.3 %
Client B     27.2 %     -  
                 
Client D     11.2 %     -  
Total     38.4 %     85.3 %