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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 15 – SEGMENT INFORMATION

 

Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, or decision-making group in deciding how to allocate resources and in assessing performance. The Company evaluates operating results based on measures of performance, including revenues, cost of revenue and gross profit. The Company currently operates in the following three reporting segments: SaaS, TaaS and Unicorn Hunters.

 

Our reportable segments consist of SaaS, TaaS and Unicorn Hunters. We determine our operating segments based on how the chief operating decision maker (“CODM”) manages the business, allocate resources, make operating decisions and evaluate operating performance. The Company’s CODM is the Chief Executive Officer. Our CODM reviews financial information presented on a consolidated basis accompanied by information about revenue and cost of revenue by services type along with gross profit for purposes of allocating resources and evaluating financial performance, as such we have disclosed segment information up to gross profit for each operating segment. Furthermore, our revenues are derived from the United States and foreign countries which includes the South American and European regions (“Foreign countries”).

 

As discussed in Note 1, the Company operates in three business segments – SaaS, which consists of operations related to the Company’s fully integrated all-in-one cloud-based solution to manage remote workers; TaaS, which consists of operations related to the Company’s staffing service offerings, whereby customers are connected to individuals by the Company who are able to assist them in projects; and Unicorns, which consists of operations relative to production and streaming of the Unicorn Hunters show which provides publicity and exposure to customers through their appearances on the Unicorn Hunters show.

 

The following tables set forth certain reportable segment information relating to where the Company derived its revenue for the three months ended March 31, 2025, and 2024:

 

Schedule of revenue from segments                                                
    Three Month Ended March 31,  
    2025     2024  
    United
States		     Foreign
countries		     Consolidated     United
States		     Foreign
countries		     Consolidated  
Staffing revenues   $ 4,468,581     $ 74,857     $ 4,543,438     $ 4,901,612     $ 73,240     $ 4,974,852  
Subscription revenues     48       8,685       8,733       48       3,569       3,617  
Unicorn Hunters     19       0       19       77       0       77  
Total revenues   $ 4,468,648     $ 83,542     $ 4,552,190     $ 4,901,737     $ 76,809     $ 4,978,546  

 

The following tables set forth certain reportable segment information relating to the Company’s operations for the three months ended March 31, 2025, and 2024:

 

Schedule of operations from operations                                
    Three Month Ended March 31, 2025  
    SaaS     TaaS     Unicorn
Hunters		     Consolidated  
Revenues   $ 8,733     $ 4,543,438     $ 19     $ 4,552,190  
Cost of revenues     -       3,687,908       5,850       3,693,758  
Gross profit (loss)   $ 8,733     $ 855,530     $ (5,831 )   $ 858,432  

 

    Three Month Ended March 31, 2024  
    SaaS     TaaS     Unicorn
Hunters		     Consolidated  
Revenues   $ 3,617     $ 4,974,853     $ 76     $ 4,978,546  
Cost of revenues      -       3,949,255       105,625       4,054,880  
Gross profit (loss)   $ 3,617     $ 1,025,598     $ (105,549 )   $ 923,666  

 

The following table includes a reconciliation of Gross Profit allocated to segments to Loss Before Income Taxes:

 

    March 31,
2025		     March 31,
2024		  
Gross Profit allocated to segments, net   $ 858,432     $ 923,666  
Expenses not allocated to segments, net*     (2,979,659 )     (4,653,551 )
Loss Before Income Taxes   $ (2,121,227 )   $ (3,729,885 )

 

 
* Includes mainly Unicoin marketing expense, stock-based compensation, Unicoin’s right transaction gain or Loss, and other Gen admin expenses, Amortization of intangibles, Bad debt expense and other Gen admin expense Software Development Expense, Impairment of investments in privately held companies, interest income (expense), net, other income (expense), net.

 

There were no material transactions between reportable segments during the three months ended March 31, 2025 and 2024.

 

Assets by reportable segment and operating costs by reportable segment are not presented as the Company does not allocate assets to its reportable segments, nor is such information used by management for purposes of assessing performance or allocating resources.