v3.26.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 10 SEGMENT INFORMATION

 

We operate as one segment, and our operations are focused on developing high strength, protein-based fiber, using recombinant DNA technology, for commercial applications in the textile and specialty fiber industries

 

Our Chief Executive Officer, as the CODM, uses consolidated net loss to evaluate our expenditures and monitor budget versus actual results. The monitoring of budget versus actual results and cash on hand are used in assessing the performance of the segment and in establishing resource allocation across the organization.

 

Factors used in determining the reportable segment include the nature of our operating activities, the organizational and reporting structure and the type of information reviewed by the CODM to allocate resources and evaluate financial performance.

 

Significant expenses within net loss include general and administrative, professional fees, officers’ salary, research and development, interest expense, interest income and other, net and income tax expense, which are each separately presented on our consolidated statements of operations.

 

 

The following table presents information about the segment’s loss for the year ended December 31, 2025:

 

      
Revenue  $- 
      
Less:     
Employee expense   1,445,748 
Occupancy expense   69,171 
Research and development expense   224,664 
Professional services expense   199,492 
Warrants issued for services expense   1,116,841 
Depreciation and amortization expense   23,501 
Interest Expense   570,709 
Office expense   41,325 
Other segment expense (a)   254,056 
Other income   (211,958)
Unrealized investment on gold   (110,198)
Segment net loss   3,623,351 
      
Reconciliation of loss     
      
Adjustments and reconciling items   - 
      
Consolidated net loss  $3,623,351 

 

(a)   Other segment items included in segment net loss include bank service charges, insurance, filing fees, meals, and other overhead expenses

 

Segment Assets:

 

As of December 31, 2025, total segment assets amounted to $2,565,540.

 

The following table presents information about the segment’s loss for the year ended December 31, 2024:

 

      
Revenue  $- 
      
Less:     
Employee expense   1,491,027 
Occupancy expense   58,868 
Research and development expense   230,005 
Professional services expense   309,063 
Warrants issued for services expense   855,402 
Depreciation and amortization expense   26,159 
Interest Expense   529,603 
Office expense   55,041 
Other segment expense (a)   52,443 
Interest income   (74,843)
Unrealized investment on gold   (133,829)
Segment net loss   3,398,939 
      
Reconciliation of loss     
      
Adjustments and reconciling items   - 
      
Consolidated net loss  $3,398,939 

 

(a)   Other segment items included in segment net loss include bank service charges, insurance, filing fees, meals, and other overhead expenses

 

Segment Assets:

 

As of December 31, 2024, total segment assets amounted to $1,505,333.