Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.5.0.2
Segment Reporting
 3 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
15. Segment Reporting
 
In accordance with FASB ASC 280, “Segment Reporting,” the Company discloses financial and descriptive information about its reportable segments. The Company operates in two segments, iBio, Inc. and iBio CMO. Commencing July 1, 2016, management determined that the activity of iBio CMO should be segregated as a separate segment. In addition, management determined that the activity of iBio Brazil was no longer material and will be included in the activity of iBio, Inc. As such, the segment information for the three months ended September 30, 2015 was conformed to the current presentation. These segments are components of the Company about which separate financial information is available and regularly evaluated by the chief operating decision maker in deciding how to allocate resources and in assessing performance.
 
Three Months Ended September 30, 2016 (in thousands)
 
iBio, Inc.
 
iBio CMO
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
86
 
$
49
 
$
-
 
$
135
 
Revenues – intersegment
 
 
152
 
 
182
 
 
(334)
 
 
-
 
Research and development
 
 
684
 
 
321
 
 
(185)
 
 
820
 
General and administrative
 
 
1,347
 
 
1,271
 
 
(149)
 
 
2,469
 
Operating loss
 
 
(1,793)
 
 
(1,361)
 
 
-
 
 
(3,154)
 
Interest expense
 
 
-
 
 
(483)
 
 
-
 
 
(483)
 
Interest and other income
 
 
18
 
 
7
 
 
-
 
 
25
 
Consolidated net loss
 
 
(1,775)
 
 
(1,837)
 
 
-
 
 
(3,612)
 
Total assets
 
 
11,810
 
 
36,330
 
 
(49)
 
 
48,091
 
Fixed assets, net
 
 
8
 
 
25,572
 
 
-
 
 
25,580
 
Intangible assets, net
 
 
2,023
 
 
-
 
 
-
 
 
2,023
 
Depreciation expense
 
 
1
 
 
323
 
 
-
 
 
324
 
Amortization of intangible assets
 
 
88
 
 
-
 
 
-
 
 
88
 
 
Three Months Ended September 30, 2015 (in thousands)
 
iBio, Inc.
 
iBio CMO *
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
160
 
$
-
 
$
-
 
$
160
 
Revenues – intersegment
 
 
-
 
 
-
 
 
-
 
 
-
 
Research and development
 
 
551
 
 
-
 
 
-
 
 
551
 
General and administrative
 
 
1,422
 
 
-
 
 
-
 
 
1,422
 
Operating loss
 
 
(1,813)
 
 
-
 
 
-
 
 
(1,813)
 
Interest expense
 
 
-
 
 
-
 
 
-
 
 
-
 
Interest and other income
 
 
8
 
 
-
 
 
-
 
 
8
 
Consolidated net loss
 
 
(1,805)
 
 
-
 
 
-
 
 
(1,805)
 
Total assets
 
 
11,374
 
 
-
 
 
-
 
 
11,374
 
Fixed assets, net
 
 
10
 
 
-
 
 
-
 
 
10
 
Intangible assets, net
 
 
2,284
 
 
-
 
 
-
 
 
2,284
 
Depreciation expense
 
 
1
 
 
-
 
 
-
 
 
1
 
Amortization of intangible assets
 
 
91
 
 
-
 
 
-
 
 
91
 
 
* iBio CMO commenced operations in December 2015