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3. SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
3. SEGMENT INFORMATION

3. SEGMENT INFORMATION

 

In its operation of the business, management, including our chief operating decision makers, Michael Pruitt, who served as Interim CEO through June 12, 2025, and current CEO Aaron Day, review certain financial information, including segmented internal profit and loss statements prepared on a basis not consistent with GAAP.

 

For all of the segments, the CODM uses segment revenues and segment gross margin for forecasting process. The CODM uses segment gross margin for evaluating product pricing. The CODM uses segment gross margin and segment operating loss in determining the compensation of certain employees.

 

During the periods presented, we reported our financial performance based on the following segments: Fresh Vine and Amaze Software. Fresh Vine segment primarily represents the wine operations. Amaze Software segment primarily represents e-commerce and subscription service operations.

 

As of June 30, 2025 Fresh Vine and Amaze Software had total segment assets of approximately $313,000 and $1,007,000, respectively. Total segment assets excludes goodwill of approximately $97,610,000. As of December 31, 2024 Fresh Vine and Amaze Software had total assets of approximately $4.4 million and $0, respectively.

 

The table below presents information about reported segments for the three and six months ended June 30, 2025 and 2024.

                   
   Three months ended  Six months ended
   June 30, 2025  June 30, 2025
   Fresh Vine  Amaze Software  Total  Fresh Vine  Amaze Software  Total
Revenues  $45,971   $823,913   $869,884   $88,100   $841,998   $930,098 
Gross Income (Loss)   (227)   787,739    787,512    (1,473)   786,409    784,936 
Operating loss   (1,586,219)   (2,699,693)   (4,285,912)   (2,601,283)   (3,754,506)   (6,175,789)

 

                   
   Three months ended  Six months ended
   June 30, 2024  June 30, 2024
   Fresh Vine  Amaze Software  Total  Fresh Vine  Amaze Software  Total
Revenues  $70,484   $—     $70,484   $175,052   $—     $175,052 
Gross loss   (43,676)   —      (43,676)   (154,924)   —      (154,924)
Operating loss   (879,569)   —      (879,569)   (2,091,923)   —      (2,091,923)

 

The segment Amaze Software was not part of the Company until the segment was acquired March 7, 2025. The Fresh Vine segment’s operations have remained consistent for all periods presented, however, the Company only had one operating and reportable segment prior to the acquisition.