v3.25.1
Segment Information
3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information [Text Block]

Note 13 - Segment Information

The Company manages its operations as a single operating segment for the purpose of assessing performance and making operating decisions, resulting in a single reportable segment. The Company has determined that its Chief Operating Decision Maker ("CODM") is its Chief Executive Officer.  The Company's CODM reviews the Company's financial information on a consolidated basis for the purpose of making key operating decisions, allocating resources and assessing financial performance.

The key measure of segment profit or loss that the CODM uses to allocate resources and assess performance is the Company's consolidated net income (loss), as reported on the consolidated statements of operations and comprehensive income (loss).  In addition, the CODM is regularly provided the significant segment expense categories included in the table below, which are reviewed against budgeted expectations to assist in resource allocation decision-making. The CODM does not review assets in evaluating operating performance, and therefore, such information is not presented.

The following table presents selected financial information with respect to the Company's single operating segment for the three months ended March 31, 2025 and March 31, 2024:

    2025     2024  
             
Revenues $ 15,367,864   $ 10,614,470  
Cost of Revenues   8,646,851     6,606,137  
Gross Profit   6,721,013     4,008,333  
             
Product Royalty Income   85,298     39,303  
             
Operating Expenses            
   Salaries and wages   1,857,380     1,568,271  
   Professional fees   360,051     298,971  
   Advertising and marketing   892,057     892,417  
   Research and development   664,490     555,778  
   General and administrative   1,012,649     942,888  
   Other operating expenses   590,402     579,868  
Operating Expenses   5,377,029     4,838,193  
             
Income (Loss) from Operations   1,429,282     (790,557 )
             
Other Income (Expense)   82,147     (24,483 )
Income Taxes   (390,305 )   (1,639 )
             
Net Income (Loss) $ 1,121,124   $ (816,679 )