Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING

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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2021
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 (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  
Six months ended June 30, 2021                                
Revenues     -                     -       6,763       6,763  
Operating loss     (2,977 )     -       (213 )     (3,190 )
Unallocated amounts:                                
Financing expenses, net                             (10,485 )
Share in losses of affiliated companies accounted for under equity method, net                             (492 )
Net loss                             (14,167 )
Total Assets     11,029       -       6,229       17,258  
Other significant items:                                
Total expenditures for assets of reportable segment     -       -       770       770  
Total depreciation for reportable segment     (15 )     -       (341 )     (356 )

 

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:

 

   

Six months
period ended

June 30,

    

Three months
period ended

June 30,

    

Year ended
December 31,

 
    2021     2021     2020  
    Unaudited  
                   
Israel   $ -     $ -       -  
United States     6,763       1,732                 -  
      6,763       1,732       -  

 

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

   

As of
June 30,

    As of
December 31,		  
    2021     2020  
Israel   $ 47     $ 61  
United States     2,549       1,938  
    $ 2,596     $ 1,999  

 

E. Major customers

 

During the year ended December 31, 2020, the Company had one costumer which represents 56.64% of the Company’s total sales. During the Six months ended June 30, 2021, the Company had one costumer which represents 63.43% of the Company’s total sales with which Company’s contractual agreement to supply Covid-19 testing kits to a significant customer expired.