v3.26.1
Segment Information
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information [Text Block]

Note 14 - Segment Information

The Company manages its operations as a single operating segment for the purpose of assessing performance and making operating decisions, resulting in a single reportable segment. The Company has determined that its Chief Operating Decision Maker ("CODM") is its Chief Executive Officer. The Company's CODM reviews the Company's financial information on a consolidated basis for the purpose of making key operating decisions, allocating resources and assessing financial performance.

The key measure of segment profit or loss that the CODM uses to allocate resources and assess performance is the Company's consolidated net income, as reported on the consolidated statements of operations and comprehensive income (loss). In addition, the CODM is regularly provided the significant segment expense categories included in the table below, which are reviewed against budgeted expectations to assist in resource allocation decision-making. The CODM does not review assets in evaluating operating performance, and therefore, such information is not presented.

The following table presents selected financial information with respect to the Company's single operating segment for the three months ended March 31, 2026 and 2025:

    2026     2025  
             
Revenues $ 19,507,486   $ 15,367,864  
Cost of Revenues   10,933,059     8,646,851  
Gross Profit   8,574,427     6,721,013  
             
Product Royalty Income   372,819     85,298  
             
Operating Expenses            
  Salaries and wages   2,148,626     1,857,380  
  Professional fees   290,492     360,051  
  Advertising and marketing   1,061,196     892,057  
  Research and development   797,348     664,490  
  General and administrative   1,210,233     1,012,649  
  Other operating expenses   1,121,206     590,402  
Operating Expenses   6,629,101     5,377,029  
             
Income from Operations   2,318,145     1,429,282  
             
Other Income   74,496     82,147  
Provision for  Income taxes   621,947     390,305  
             
Net Income $ 1,770,694   $ 1,121,124