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
|
)
|
|