Q/C TECHNOLOGIES, INC. Segments Disclosure

Note 12 – Segment Reporting

 

The Company has one reportable segment focused on Isomyosamine (formerly MYMD-1). The Company’s chief operating decision maker (“CODM”), who is responsible for evaluating financial performance and allocating resourses, is the President and Chief Medical Officer. The accounting policies of the single segment are the same as those described in the summary of significant accounting policies. The CODM does not use assets to assess the segment. The CODM assesses performance for the single segment and decides how to allocate resources based on net operating loss excluding stock-based compensation and warrant issuance expenses. The CODM uses a non-GAAP measure, net of operating loss excluding stock-based compensation and warrant issuance expenses, as the primary measure of operating performance and to monitor the Company’s cash burn and adherence to budget.

 

To date, the Company has not generated any product revenue and has incurred losses and negative cash flows from operations since inception.

 

The following table presents certain financial data for the Company’s reportable segment and a reconciliation to the Company’s consolidated net loss.

 

 Schedule of Reconciliation Consolidated Net Loss

		2024				2023
Product Revenue		$	-			$	-
Product Cost of Sales			-				-
Gross Income			-				-
Operating Expenses
Administrative Expenses			4,161,907				5,442,886
Research and Development Expenses			3,441,010				7,867,795
Segment Net Loss			(7,602,917	)			(13,310,681	)
Reconcilement of Net Loss
Adjustments and Reconciling Items
Stock Based Compensation			1,057,271				3,049,537
Series F Warrant Issuance Expenses			-				762,834
Series F-1 Warrant Issuance Expenses			539,097				-
Series G Warrant Issuance Expenses			969,505				-
Interest and Dividend Income			351,809				455,570
Gains on Sales of Marketable Securities			976				416
Unrealized Gains on Marketable Securities			671				514
Change in Fair Value of Derivative Liabilities			(388,000	)			3,088,800
Change in Fair Value of Warrant Liabilities			(4,410,000	)			9,756,000
Loss on Issuance of Series F-1 Convertible Preferred Stock			(3,737,000	)			-
Loss on Issuance of Series G Convertible Preferred Stock			(5,109,000	)			-
Casualty Gain/(Loss)			100,000				(178,198	)
Total Adjustments and Reconciling Items			(15,756,417	)			9,310,731
Consolidated Net Loss		$	(23,359,334	)		$	(3,999,950	)

 

Segment assets are not reviewed by the CODM and, accordingly, asset information is not presented.