Annual report pursuant to Section 13 and 15(d)

Segments

v3.23.1
Segments
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENTS

NOTE 13 – SEGMENTS

 

The Company has the following reportable segments:

 

Therapeutics (“Therapeutics”): The Therapeutics segment performs activities related to discovery, research and development of innovative treatments for central nervous system (CNS) disorders and other diseases.

 

Support services to anti-depression clinics in the US and UK (“Clinics”): The Clinics segments provided business support services to anti-depression clinics in the U.K. and in the United States. Its operations in the U.K. involved providing business support services to registered healthcare providers who assess patients and, if appropriate, administer intravenous infusions of ketamine. Its operations in the United States involved providing business support services to entities that furnish similar services to patients who personally pay for those services. Operations in the U.K. and the United States were conducted through partnerships with healthcare providers and the Company does not provide professional medical services or psychiatric assessments.

 

The Company evaluates the performance of its business segments primarily based on revenues and net income. For the years ended December 31, 2022 and 2021, segment operating results were as follows:

 

    For the years ended
December 31,		  
    2022      2021  
Revenues            
Therapeutics   $
-
     $
-
  
Clinics     486,559       15,062  
Total revenues     486,559       15,062  
                 
Net loss                
Drug Research and Development     (11,727,885 )     (1,908,925 )
Clinics     (2,208,567 )     (264,596 )
Total net loss   $ (13,936,452 )   $ (2,173,521 )

 

As of December 31, 2022, total assets attributable to the Therapeutics and Clinics segments were $44,373,245 and $806,844, respectively.