v3.25.2
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 10 SEGMENT INFORMATION

 

The Company operates and manages its business as two reportable and operating segments. The Company’s CODM reviews financial information presented and decides how to allocate resources based on net income (loss). Net income (loss) is used for evaluating financial performance.

 

Significant segment expenses include salaries and payroll, stock based compensation, marketing, public company expenses, audit and accounting, consulting, research and development, travel and entertainment, software subscription and other administrative expenses for the US and salaries and payroll, insurance, rent, travel and entertainment, office supplies and postage, pension and other administrative expenses. The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM.

 

 

                   -           
   Consolidated   US   Taiwan   Consolidated   US   Taiwan 
   December 31, 2024   December 31, 2023 
                         
Revenues  $6,020,639   $869,261   $5,151,378   $6,495,865   $852,136   $5,643,729 
Cost of Goods Sold   4,719,005    615,010    4,103,995    5,428,261    932,868    4,495,393 
Gross Profit   1,301,634    254,251    1,047,383    1,067,604    (80,732)   1,148,336 
                   -           
Operating Expenses                  -           
Salaries and Payroll Expenses   1,667,330    967,793    699,537    1,756,364    988,848    767,516 
Pension   21,832         21,832    20,518         20,518 
Travel and Entertainment   552,123    483,146    68,977    640,815    587,317    53,498 
Stock-based compensation   122,600    122,600         104,600    104,600      
Marketing   757,736    757,736         332,852    332,852      
Public Company expenses   520,966    520,966         354,215    354,215      
Audit and Accounting   312,920    312,920         162,700    162,700      
Consulting Services   412,962    412,962         367,148    367,148      
Research and Development   363,350    363,350         797,112    797,112      
Software Subscription   85,111    85,111         42,209    42,209      
Insurance   60,873    12,664    48,209    57,851    12,270    45,581 
Rent   142,986    101,731    41,255    123,255    83,002    40,253 
Office Supplies and Postage   34,276         34,276    25,813         25,813 
Other operating expenses   316,872    215,849    101,023    323,027    270,937    52,090 
Total Operating Expenses   5,371,937    4,356,828    1,015,109    5,108,479    4,103,210    1,005,269 
Loss (Income) from Operations   (4,070,303)   (4,102,577)   32,274    (4,040,875)   (4,183,943)   143,068 
Interest Income and Other (Expenses), net   121,868    95,330    26,538    (83,483)   (84,452)   969 
Net loss before Income Tax  $(3,948,435)  $(4,007,247)  $58,812   $(4,124,358)  $(4,268,395)  $144,037 

 

Furthermore, due to operations in various geographic locations, we are susceptible to changes in national, regional, and local economic conditions, demographic trends, consumer confidence in the economy, and discretionary spending priorities that may have a material adverse effect on our future operations and results.

 

We are required to collect certain taxes and fees from customers on behalf of government agencies and remit them back to the applicable governmental agencies on a periodic basis. The taxes and fees are legal assessments to the customer, for which we have a legal obligation to act as a collection agent. Because we do not retain the taxes and fees, we do not include such amounts in revenue. We record a liability when the amounts are collected and relieve the liability when payments are made to the applicable governmental agencies.

 

The net assets (liabilities) for our significant geographic regions are as follows:

 

           
   Net Assets (Liabilities) 
   For the Year Ended   For the Year Ended 
   December 31, 2024   December 31, 2023 
United States  $1,775,554   $3,741,367 
Republic of China (Taiwan)  $729,885   $907,113 
Total Consolidated  $2,505,439   $4,648,480