| Disaggregation of Revenues and Segment Reporting [Text Block] |
NOTE 4– DISAGGREGATION OF REVENUES AND SEGMENT REPORTING
The Company operates through three reportable segments: Systems and Aftermarket, Filters and Membranes, and Components. Each segment comprises multiple sub-segments that leverage a shared production infrastructure and centralized supporting functions. The Company’s Chief Operating Decision-Maker (“CODM”) is Executive Management, consisting of the Chief Executive Officer, and Chief Financial & Operating Officer. Revenue information at both the segment and sub-segment levels is reviewed regularly as part of daily operational management. Profitability and asset information is available and evaluated at the segment level on a monthly basis. Resource allocation decisions are made at the segment level and are assessed on a quarterly basis.
The Company sells products throughout the world, and sales by geographical region are as follows for the three months ended March 31, 2026 and 2025:
| | | For the Three Months | |
| | | Ended March 31, | |
| Revenues | | | 2026 | | | | 2025 | |
| Americas | | $ | 250,802 | | | $ | 2,233,901 | |
| Asia-Pacific | | | 625,553 | | | | 134,455 | |
| Europe | | | 3,259,965 | | | | 2,249,185 | |
| Total revenue | | $ | 4,136,320 | | | $ | 4,617,541 | |
The Company’s reportable segment information for the three months ended March 31, 2026 and 2025 were as follows:
| | | For the Three Months | |
| | | Ended March 31, | |
| Revenues | | 2026 | | | 2025 | |
| Systems and Aftermarket | | $ | 1,789,295 | | | $ | 2,693,722 | |
| Filters and Membranes | | | 1,306,999 | | | | 953,846 | |
| Components | | | 1,040,026 | | | | 969,973 | |
| Total revenues | | $ | 4,136,320 | | | $ | 4,617,541 | |
| | | For the Three Months | |
| | | Ended March 31, | |
| Cost of goods sold | | 2026 | | | 2025 | |
| Systems and Aftermarket | | $ | 1,289,213 | | | $ | 2,159,127 | |
| Filters and Membranes | | | 1,521,774 | | | | 1,501,070 | |
| Components | | | 931,589 | | | | 830,385 | |
| Corporate | | | - | | | | 1,903 | |
| Total cost of goods sold | | | 3,742,576 | | | | 4,492,485 | |
| | | For the Three Months | |
| | | Ended March 31, | |
| Operating expenses | | 2026 | | | 2025 | |
| Systems and Aftermarket | | $ | 783,635 | | | $ | 611,487 | |
| Filters and Membranes | | | 447,813 | | | | 366,360 | |
| Components | | | 373,107 | | | | 254,157 | |
| Corporate | | | 1,066,398 | | | | 1,078,381 | |
| Total operating expenses | | | 2,670,953 | | | | 2,310,385 | |
| | | For the Three Months | |
| | | Ended March 31, | |
| Other Expenses | | 2026 | | | 2025 | |
| Systems and Aftermarket | | $ | 22,774 | | | $ | 65,951 | |
| Filters and Membranes | | | 22,362 | | | | 89,977 | |
| Components | | | 2,312 | | | | 3,250 | |
| Corporate | | | 400,819 | | | | 14,174 | |
| Total other expenses | | | 448,267 | | | | 173,352 | |
| | | For the Three Months | |
| | | Ended March 31, | |
| Net loss | | 2026 | | | 2025 | |
| Systems and Aftermarket | | $ | (306,327 | ) | | $ | (142,843 | ) |
| Filters and Membranes | | | (684,950 | ) | | | (1,003,561 | ) |
| Components | | | (266,982 | ) | | | (117,480 | ) |
| Corporate | | | (1,466,840 | ) | | | (1,094,458 | ) |
| Total net loss | | | (2,725,099 | ) | | | (2,358,342 | ) |
| | | As of | |
| | | March 31, | | | December 31, | |
| Total assets | | 2026 | | | 2025 | |
| Systems and Aftermarket | | $ | 9,219,737 | | | $ | 10,210,357 | |
| Filters and Membranes | | | 9,670,372 | | | | 10,139,656 | |
| Components | | | 2,222,604 | | | | 1,942,818 | |
| Corporate | | | 3,836,912 | | | | 4,985,266 | |
| Total assets | | $ | 24,949,625 | | | $ | 27,278,097 | |
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