v3.25.2
Segment
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Segment [Abstract]    
SEGMENT

NOTE 18. SEGMENT

 

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

 

The Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer who reviews the assets, liabilities, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is only one reportable segment.

 

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statement of operations as net income or loss. The measure of segment assets and liabilities is reported on the balance sheet as total assets and total liabilities. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in total assets and total liabilities and net income or loss, which include the following:

 

   March 31,   December 31, 
   2025   2024, 
         
Inventory  $10,439,696   $11,181,806 
Deferred revenue  $(10,488,363)  $(11,802,825)

 

  

Three Months Ended

March 31,

 
   2025   2024 
         
Revenue, net  $6,421,371   $6,989,746 
Less: Cost of goods sold   4,656,799    5,464,113 
Gross Profit   1,764,572    1,525,633 

NOTE 20. SEGMENT

 

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

 

The Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer who reviews the assets, liabilities, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is only one reportable segment.

 

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statement of operations as net income or loss. The measure of segment assets and liabilities is reported on the balance sheet as total assets and total liabilities. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net income or loss, total assets and total liabilities, which include the following:

 

   December 31,   December 31, 
   2024   2023, 
         
Inventory  $11,181,806   $9,607,766 
Deferred revenue  $11,802,825   $16,190,861 

 

   Year Ended December 31, 
   2024   2023, 
         
Revenue, net  $25,165,733   $19,492,606 
Less: Cost of goods sold   19,277,786    14,969,683 
Gross Profit   5,887,947    4,522,923