Note 13 - Segment Reporting, Product Line and Geographic Information |
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| Segment Reporting Disclosure [Text Block] |
Segment Reporting
Operating segments are identified as components of an entity about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company determined that based on the regularly reviewed and provided financial package to its Chief Executive Officer (the “CEO”) and Chief Financial Officer (the “CFO”), that the CEO and CFO together are its singular Chief Operating Decision Maker. Additionally, the Company determined that due to its sole focus on the cultivation and production of microalgal products, the Company views its operations and manages its business as one operating and reportable segment focused on the manufacture and distribution of natural products derived from microalgae, astaxanthin and spirulina.
The CEO and CFO together, are the chief operating decision maker (the “CODM”) and manages the business based on consolidated financial results and use consolidated net income or loss, including significant operating expenses, for the purpose of assessing performance, allocating resources across departments and making operating decisions.
The CODM uses consolidated income (loss) from operations and operating expenses to monitor actual results versus budget and prior year’s results, which facilitates the assessment of the Company’s performance in line with the Company’s strategic goals. Monitoring of budget versus actual results are used in assessing performance of the segment and in establishing management’s compensation.
All revenue, operating expenses and assets attributed to this one segment are reflected in the consolidated financial statements. The Company’s significant segment expenses align with the categories on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. All segment long-lived assets are located in the United States of America.
Disaggregation of Revenue
The following table represents revenue disaggregated by major product line and extraction services for the fiscal years ended March 31, 2025 and 2024:
Cost of sales for contract extraction and R&D services for the fiscal years ended March 31, 2025 and 2024 were $634,000 and $358,000, respectively.
Net sales by geographic region for the fiscal years ended March 31, 2025 and 2024 are as follows:
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