v3.25.2
SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)
3 Months Ended
Sep. 30, 2024
SEGMENT INFORMATION AND GEOGRAPHIC DATA [Abstract]  
Summary Financial Information by Reportable Segment
Summary financial information by reportable segment is as follows:

   
Three Months Ended September 30, 2024
 
   
Online
Channels
   
Traditional
   
Total
 
Net sales
                 
Finished jewelry
 
$
2,048,945
   
$
914,786
   
$
2,963,731
 
Loose jewels
   
113,809
     
155,865
     
269,674
 
Total
 
$
2,162,754
   
$
1,070,651
   
$
3,233,405
 
                         
Product line cost of goods sold
                       
Finished jewelry
 
$
968,761
   
$
856,064
   
$
1,824,825
 
Loose jewels
   
46,848
     
61,026
     
107,874
 
Total
 
$
1,015,609
   
$
917,090
   
$
1,932,699
 
                         
Product line gross profit
                       
Finished jewelry
 
$
1,080,184
   
$
58,722
   
$
1,138,906
 
Loose jewels
   
66,961
     
94,839
     
161,800
 
Total
 
$
1,147,145
   
$
153,561
   
$
1,300,706
 
                         
Depreciation and amortization
 
$
92,009
   
$
123,501
   
$
215,510
 
                         
Capital expenditures
 
$
96,647
   
$
-
   
$
96,647
 

   
Three Months Ended September 30, 2023
 
   
Online
Channels
   
Traditional
   
Total
 
Net sales
                 
Finished jewelry
 
$
3,596,942
   
$
704,317
   
$
4,301,259
 
Loose jewels
   
319,744
     
332,020
     
651,764
 
Total
 
$
3,916,686
   
$
1,036,337
   
$
4,953,023
 
                         
Product line cost of goods sold
                       
Finished jewelry
 
$
1,575,600
   
$
383,567
   
$
1,959,167
 
Loose jewels
   
99,978
     
139,396
     
239,374
 
Total
 
$
1,675,578
   
$
522,963
   
$
2,198,541
 
                         
Product line gross profit
                       
Finished jewelry
 
$
2,021,342
   
$
320,750
   
$
2,342,092
 
Loose jewels
   
219,766
     
192,624
     
412,390
 
Total
 
$
2,241,108
   
$
513,374
   
$
2,754,482
 
                         
Depreciation and amortization
 
$
48,758
   
$
129,533
   
$
178,291
 
                         
Capital expenditures
 
$
120,145
   
$
96,907
   
$
217,052
 
Reconciliation of Product Line Cost of Goods Sold
A reconciliation of the Company’s product line cost of goods sold to cost of goods sold as reported in the condensed consolidated financial statements is as follows:

   
Three Months Ended September 30,
 
   
2024
   
2023
 
Product line cost of goods sold
 
$
1,932,699
   
$
2,198,541
 
Non-product line cost of goods sold: Manufacturing and production control expenses
   
371,684
     
597,885
 
Freight out
   
82,480
     
204,216
 
Other inventory adjustments
   
(154,460
)
   
7,865
 
Cost of goods sold
 
$
2,232,403
   
$
3,008,507
 
Reconciliation of Product Line Gross Profit

A reconciliation of the Company’s consolidated product line gross profit to the Company’s consolidated net loss before income taxes is as follows:


   
Three Months Ended September 30,
 
   
2024
   
2023
 
Product line gross profit
 
$
1,300,706
   
$
2,754,482
 
Non-allocated cost of goods sold
   
(299,704
)
   
(809,966
)
Sales and marketing
   
(1,877,330
)
   
(2,721,965
)
General and administrative
   
(1,262,292
)
   
(1,854,268
)
Total other income, net
   
5,100
     
92,260
 
Loss before income taxes
 
$
(2,133,520
)
 
$
(2,539,457
)
Net Sales by Geographic Area
The following presents net sales data by geographic area:


 
Three Months Ended September 30,
 

 
2024
   
2023
 
Net sales:
           
United States
 
$
3,233,405
   
$
4,768,910
 
International
   
-
     
184,113
 
Total
 
$
3,233,405
   
$
4,953,023