v3.26.1
Disaggregation of Revenues and Segment Reporting
 12 Months Ended
Dec. 31, 2025
Disaggregation of Revenues and Segment Reporting [Abstract]  
DISAGGREGATION OF REVENUES AND SEGMENT REPORTING

NOTE 6—DISAGGREGATION OF REVENUES AND SEGMENT REPORTING

 

The Company’s four reportable segments are Kyle’s, ICD, CMD and Wolo. The following describes the primary revenue-generating activities of each segment.

 

Kyle’s, ICD, and CMD (Construction Operations): Revenue is derived primarily from contracts with customers for finish carpentry and related products and services, including doors, frames, trim, hardware, millwork, cabinetry, and specialty construction accessories for general contractors, commercial developers, residential builders and homeowners, and government entities.

 

Wolo (Automotive Supplies Operations): Revenue is derived primarily from the sale of horn and safety warning lights for cars, trucks, industrial equipment, and emergency vehicles. Wolo sells its products to big-box national retail chains, specialty and industrial distributors, online and mail order retailers, and original equipment manufacturers.

 

Corporate: Corporate services represent holding company activities, including corporate overhead, intercompany eliminations, and other activities not allocated to the reportable segments. The measure of segment profit or loss reviewed by the CODM is income (loss) from operations. The Company does not allocate interest expense, changes in fair value of warrant and derivative liabilities, loss on extinguishment of debt, income taxes, or other non-operating items to its reportable segments, as these items are managed at the corporate level and are not included in the measures of segment performance reviewed by the CODM.

 

The Company’s revenues for the years ended December 31, 2025 and 2024 are disaggregated as follows:

 

   For the Year Ended December 31, 2025 
   Kyle’s   ICD   CMD   Wolo   Total 
Revenues                    
Cabinetry and millwork  $6,593,218   $33,971   $10,795,640   $
–
   $17,422,829 
Doors, frames, hardware, and trim   
–
    
–
    28,874,707    
–
    28,874,707 
Specialty construction accessories   
–
    
–
    797,599    
–
    797,599 
Automotive horns   
–
    
–
    
–
    916,844    916,844 
Automotive lighting   
–
    
–
    
–
    260,333    260,333 
Total revenues  $6,593,218   $33,971   $40,467,946   $1,177,177   $48,272,312 

 

   For the Year Ended December 31, 2024 
   Kyle’s   ICD   CMD   Wolo   Total 
Revenues                    
Cabinetry and millwork  $5,318,608   $5,736,412   $171,641   $
–
   $11,226,661 
Doors, frames, hardware, and trim   
–
    
–
    720,700    
–
    720,700 
Specialty construction accessories   
–
    
–
    13,523    
–
    13,523 
Automotive horns   
–
    
–
    
–
    2,896,470    2,896,470 
Automotive lighting   
–
    
–
    
–
    852,976    852,976 
Total revenues  $5,318,608   $5,736,412   $905,864   $3,749,446   $15,710,330 

Segment information for the years ended December 31, 2025 and 2024 is as follows:

 

   For the Year Ended December 31, 2025 
   Kyle’s   ICD   CMD   Wolo   Corporate   Total 
Revenues  $6,593,218   $33,971   $40,467,946   $1,177,177   $
–
   $48,272,312 
Operating expenses                              
Cost of revenues   3,704,185    1,723    19,541,606    1,106,859    
–
    24,354,373 
Personnel   1,054,273    21,760    4,595,923    273,567    2,228,845    8,174,368 
Personnel – corporate allocation   183,664    
–
    1,987,000    73,502    (2,244,166)   
–
 
Depreciation and amortization   494,548    13,870    914,307    276    2,348    1,425,349 
General and administrative   701,057    388,763    2,024,742    305,781    1,339,480    4,759,823 
General and administrative – management fees   250,000    250,000    300,000    300,000    
–
    1,100,000 
General and administrative – corporate allocation   257,752    
–
    1,220,583    78,960    (1,557,295)   
–
 
Professional fees   6,400    3,518    1,172,529    89,097    3,092,438    4,363,982 
Loss on abandonment of right-of-use assets   
–
    112,705    
–
    
–
    
–
    112,705 
Total operating expenses   6,651,879    792,339    31,756,690    2,228,042    2,861,650    44,290,600 
                               
Income (loss) from operations  $(58,661)  $(758,368)  $8,711,256   $(1,050,865)  $(2,861,650)  $3,981,712 

 

   For the Year Ended December 31, 2024 
   Kyle’s   ICD   CMD   Wolo   Corporate   Total 
Revenues  $5,318,608   $5,736,412   $905,864   $3,749,446   $
–
   $15,710,330 
Operating expenses                              
Cost of revenues   3,063,457    1,986,806    389,460    2,497,865    
–
    7,937,588 
Personnel   1,015,376    2,479,599    310,953    934,895    1,798,049    6,538,872 
Personnel – corporate allocation   173,140    181,460    
–
    173,784    (528,384)   
–
 
Depreciation and amortization   575,835    79,547    
–
    276    
–
    655,658 
General and administrative   655,089    646,445    69,239    565,115    797,955    2,733,843 
General and administrative – management fees   187,500    187,500    
–
    300,000    1,592,000    2,267,000 
General and administrative – corporate allocation   204,214    216,357    
–
    201,777    (622,348)   
–
 
Professional fees   22,973    51,810    39,948    222,360    6,559,347    6,896,438 
Impairment of goodwill   355,207    323,968    
–
    
–
    
–
    679,175 
Total operating expenses   6,252,791    6,153,492    809,600    4,896,072    9,596,619    27,708,574 
                               
Income (loss) from operations  $(934,183)  $(417,080)  $96,264   $(1,146,626)  $(9,596,619)  $(11,998,244)

The following table presents total assets by reportable segments as of December 31, 2025 and 2024:

 

   As of December 31, 2025 
   Kyle’s   ICD   CMD   Wolo   Corporate   Total 
Assets                        
Current assets  $555,062   $
–
   $13,203,694   $599,391   $242,646   $14,600,793 
Long-lived assets   2,521,948    
–
    11,723,414    522    7,103    14,252,987 
Goodwill   
–
    
–
    5,309,876    
–
    
–
    5,309,876 
Total assets  $3,077,010   $
–
   $30,236,984   $599,913   $249,749   $34,163,656 

 

   As of December 31, 2024 
   Kyle’s   ICD   CMD   Wolo   Corporate   Total 
Assets                        
Current assets  $1,087,225   $929,446   $8,000,724   $1,063,586   $1,549,512   $12,630,493 
Long-lived assets   2,810,347    269,847    12,558,135    69,040    
–
    15,707,369 
Goodwill   
–
    
–
    5,309,876    
–
    
–
    5,309,876 
Total assets  $3,897,572   $1,199,293   $25,868,735   $1,132,626   $1,549,512   $33,647,738