v3.25.1
Segment Information
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Segment Information [Abstract]    
Segment information

Note 17 — Segment information

 

The Company conducts business as a single operating segment for indoor agriculture technology that provides products to indoor growers which is based upon the Company’s organizational and management structure, as well as information used by the Chief Executive Officer (“CODM”) to allocate resources and other factors. The accounting policies of the segment are the same as those described in Note 3.

  

The key measure of segment profitability that the CODM uses to allocate resources and assess performance is segment profit or loss, as reported on the statements of operations. The following table presents the significant revenue and expense categories of the Company’s single operating segment:

 

   Three Months Ended
March 31,		 
   2025   2024 
         
Revenues  $1,106,819   $2,204,720 
Less:          
Cost of revenues   931,519    1,892,403 
Operating expenses:          
Salary and benefits expenses   385,803    439,200 
Professional fees   535,122    316,567 
Stock-based compensation   82,537    171,897 
Other selling, general and administrative   309,649    397,585 
Provision for (recovery from) credit losses   23,283    (10,215)
Other expenses (income):          
Interest expense, net   897,017    302,389 
Non cash finance expense   
-
    1,000,000 
Gain on loan extinguishment   (40,000)   
-
 
Income taxes   1,700    1,700 
Net loss  $(2,019,811)  $(2,306,806)

NOTE 18 — SEGMENT INFORMATION

 

The Company conducts business as a single operating segment for indoor agriculture technology that provides products to indoor growers which is based upon the Company’s organizational and management structure, as well as information used by the Chief Executive Officer (“CODM”) to allocate resources and other factors. The accounting policies of the segment are the same as those described in Note 3.

The key measure of segment profitability that the CODM uses to allocate resources and assess performance is segment profit or loss, as reported on the statements of operations. The following table presents the significant revenue and expense categories of the Company’s single operating segment:

 

   Year Ended December 31, 
   2024   2023 
         
Revenues  $9,261,583   $8,932,751 
Less:          
Cost of revenues   12,066,778    9,881,622 
Operating expenses:          
Salary and benefits expenses   1,883,893    1,388,987 
Professional fees   2,320,041    861,056 
Stock-based compensation   1,413,458    
-
 
Other selling, general and administrative   1,516,728    908,952 
Provision for credit losses   408,569    907,021 
Goodwill impairment loss   
-
    1,023,533 
Other expenses (income):          
Interest expense, net   2,301,600    847,191 
Non cash finance expense   1,000,000    
-
 
Loss on loan extinguishment   8,417    233,450 
Income taxes   5,100    218,358 
Other segment (income) expense   (9,661)   752 
Net loss  $(13,653,340)  $(7,338,171)