v3.25.1
Segments
 3 Months Ended
Mar. 31, 2025
Segments [Abstract]  
Segments

Note 15 – Segments

 

Segment identification and selection is consistent with the management structure used by the Company’s chief executive officer who is the Chief Operating Decision Maker (CODM) to evaluate performance and make decisions regarding resource allocation, as well as the materiality of financial results consistent with that structure. Based on the Company’s management structure and method of internal reporting, the Company has one operating segment. The Company derives its revenue from the sale of nutraceuticals. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker assesses performance for the segment and decides how to allocate resources based on net income that also is reported on the income statement as consolidated net income. The measure of segment assets is reported on the balance sheet as total consolidated assets. Significant segment expenses include retailer promotions, freight and fulfillment, marketing and salaries. The Company’s CODM reviews financial information presented and decides how to allocate resources based on net income. The Company does have any intra-entity sales or transfers. The Company’s CODM does not review operating results on a disaggregated basis; rather, the chief operating decision maker reviews operating results on an aggregated basis.

 

Net sales attributed to customers in the United States and foreign countries for the three months ended March 31, 2025 and 2024 were as follows:

 

   March 31, 2025   March 31, 2024 
United States  $7,454,724   $8,278,606 
Foreign countries   715,810    1,133,257 
   $8,170,534   $9,411,863 

 

Foreign country sales primarily consist of sales in Canada. 

 

The Company’s net sales by product group for the three months ended March 31, 2025 and 2024 were as follows:

 

   March 31, 2025   March 31, 2024 
Nutraceuticals  $6,670,534   $9,411,863 
License Revenue   1,500,000    
-
 
Consumer Goods   
-
    
-
 
   $8,170,534   $9,411,863 

The Company’s net sales by major sales channel for the three months ended March 31, 2025 and 2024 were as follows:

 

   March 31, 2025   March 31, 2024 
Online  $2,761,845   $1,170,637 
Retail   5,408,689    8,241,226 
   $8,170,534   $9,411,863 

  

The Company’s significant segment expenses for the three months ended March 31, 2025 and 2024 were as follows:

 

   March 31,
2025		   March 31,
2024		 
Retailer promotions  $939,453   $1,539,636 
Freight and fulfillment   497,748    596,297 
Online marketing   931,827    844,238 
Salaries and benefits, marketing   328,174    394,838 
Other selling and marketing   179,069    209,667 
IT expenses   140,576    137,864 
Salaries and benefits, non-marketing   567,993    596,595 
Professional fees   163,768    201,176 
Travel   155,120    78,736 
Other general and administrative expenses   279,257    334,015 
Amortization   33,333    33,333 
   $4,216,318   $4,966,395 

 

Long-lived assets (net) attributable to operations in the United States and foreign countries as of March 31, 2025 and December 31, 2024 were as follows:

 

   March 31, 2025   December 31,
2024		 
United States  $250,000   $283,333 
Foreign countries   
-
    
-
 
   $250,000   $283,333