OPERATING SEGMENT |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OPERATING SEGMENT | OPERATING SEGMENT Segment information The Company has determined that it operates in a single operating and reportable segment, which is the production and sale of hemp-based CBD wellness products, which makes up substantially all of the revenue at this time. This is consistent with how the chief operating decision maker (the "CODM") allocates resources and assesses performance. The Company’s CODM is the executive operations committee that includes the chief executive officer, the chief financial officer, the chief operations officer and the chief people officer. The majority of Company’s products have similar characteristics due to the same raw material ingredient (CBD and derivatives), similar nature of cultivation process, the type of customer and the regulatory nature of the industry. The CODM assesses performance for this segment and decides how to allocate resources based on pre-tax net income/(loss) that is reported on the consolidated statement of operations. The measure of segment assets is reported on the consolidated balance sheets as total assets. For the three months ended March 31, 2025 and 2024, the segment's revenues and pre-tax net loss were $12,262 and $12,124; and $(6,212) and $(9,618), respectively. There are no differences between segment revenues, pre-tax net income/(loss) and the Company's consolidated revenues and pre-tax net income/(loss). General Information Factors used to Identify Reportable Segments: The Company operates as a single reportable segment, focusing primarily on the production and sale of hemp-based CBD wellness products. Products and Services: The Company's revenue is primarily derived from the production and sale of hemp-based CBD wellness products. Chief Operating Decision Maker (CODM): The Company's Chief Executive Officer, the Chief Financial Officer, the Chief Operations Officer, and the Chief People Officer. Measure of Segment Profit or Loss and Total Assets: The CODM evaluates performance and allocates resources based on pre-tax net income/(loss), as presented in the accompanying financial statements. The measure of segment assets is reported on the balance sheet as total consolidated assets. Significant Segment Expenses The following significant expenses are regularly reviewed by the CODM for the three months ended March 31, 2025 and 2024: Cost of goods sold $6,032 and $5,213, respectively; Selling, general, and administrative expenses $11,578 and $15,280, respectively; Change in fair value of financial instruments $(126) and $(1,860), respectively; and Depreciation and Amortization $2,449 and $2,493, respectively. Reconciliation to Consolidated Financial Statements As the Company operates as a single reportable segment, the amounts presented above align directly with the consolidated totals in the financial statements.
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