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

Note 16 - Segment Reporting 

 

The Company manages its business on a product basis and operates in the following two reporting segments for financial reporting purposes: (1) Hard Tonneau Covers and (2) Soft Tonneau Covers. The accounting policies of both reporting segments are the same as those described in Note 1, Description of Business and Summary of Significant Accounting Policies.

 

The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer, who regularly reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance of the Company’s reporting segments. The CODM primarily focuses on net income (loss) from continuing operations to evaluate its reporting segments. The CODM also uses net income (loss) from continuing operations for evaluating pricing strategy and assessing the performance for determining the compensation of certain employees. Significant segment expenses reviewed, which represent the differences between segment net sales and segment net loss from continuing operations, consist of the following:

 

   Hard Tonneau Covers   Soft Tonneau Covers   Corporate / Eliminations   Consolidated   Hard Tonneau Covers   Soft Tonneau Covers   Corporate / Eliminations   Consolidated 
   For the three months ended March 31, 2026   For the three months ended March 31, 2025 
   Hard Tonneau Covers   Soft Tonneau Covers   Corporate / Eliminations   Consolidated   Hard Tonneau Covers   Soft Tonneau Covers   Corporate / Eliminations   Consolidated 
Net sales  $3,269,705   $43,095   $-   $3,312,800   $2,118,565   $121,440   $-   $2,240,005 
Cost of sales   (2,429,589)    (29,265)    -    (2,458,854)    (1,736,491)   (98,351)   (8,942)   (1,843,784)
Selling, general and administrative   (2,742,013)    (29,215)    (3,400,666)    (6,171,894)    (2,023,395)   (66,229)   (2,117,937)   (4,207,561)
Depreciation and amortization   (378,443)    (4,552)    (43,234)    (426,229)    (417,316)   (12,829)   (14,821)   (444,966)
Loss from continuing operations  $(2,280,340)   $(19,937)   $(3,443,900)   $(5,744,177)   $(2,058,637)  $(55,969)  $(2,141,700)  $(4,256,306)

 

The following table presents the Company’s net sales disaggregated by geographic area:

 

    Hard Tonneau Covers   Soft Tonneau Covers   Consolidated   Hard Tonneau Covers   Soft Tonneau Covers   Consolidated 
   2026   2025 
   Hard Tonneau Covers   Soft Tonneau Covers   Consolidated   Hard Tonneau Covers   Soft Tonneau Covers   Consolidated 
United States  $3,263,586   $43,059   $3,306,645   $2,105,908   $121,641   $2,227,549 
Canada   6,119    36    6,155    12,456    -    12,456 
Total Net sales  $3,269,705   $43,095   $3,312,800   $2,118,364   $121,641   $2,240,005 

 

No asset information has been provided for the reported segments as the CODM does not regularly review asset information by reportable segment. As of March 31, 2026 and December 31, 2025, assets held in the U.S. accounted for 93% of total assets for each period, respectively.