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

17. SEGMENTS

 

The Company’s Chief Operating Decision Maker (“CODM”) is the CEO, Gary Schubert, and he has determined that the Company operates in one reportable segment: the delivery of specialty foods. This determination was made based upon the characteristics of the Company’s business and the information used by the CODM in order monitor the business and allocate resources.

 

The CODM uses consolidated revenue, gross margin percentage and net income to monitor results. The CODM also uses revenue by category to monitor the growth of the business in each of the Company’s target markets.

  

The following table presents the Company’s segment results:

 

   March 31,   March 31,         
   2026   2025         
   Amount   %   Amount   %   $ Change   % Change 
Revenue:                        
Digital Channels  $6,636,757    54.5%  $7,789,527    51.8%  $(1,152,770)   -14.8%
National distribution  $2,478,888    20.4%  $2,802,870    18.7%  $(323,982)   -11.6%
Local distribution  $3,060,928    25.1%  $4,433,618    29.5%  $(1,372,690)   -31.0%
Total revenue  $12,176,573    100.0%  $15,026,015    100.0%  $(2,849,442)   -19.0%
                               
Cost of sales  $9,053,952    74.4%  $11,105,751    73.9%  $(2,051,799)   -18.5%
Gross margin  $3,122,621    25.6%  $3,920,264    26.1%  $(797,643)   -20.3%
                               
Cash OpEx:                              
Payroll & related costs  $1,854,186    15.2%  $2,280,520    15.2%  $(426,334)   -18.7%
Computer and IT  $142,821    1.2%  $101,769    0.7%  $41,052    40.3%
Office, facility, vehicles  $219,636    1.8%  $306,438    2.0%  $(86,802)   -28.3%
Insurance  $182,804    1.5%  $113,079    0.7%  $69,725    61.7%
Travel & entertainment  $22,270    0.2%  $20,005    0.1%  $2,265    11.3%
Advertising & marketing  $1,551    0.0%  $1,483    0.0%  $68    4.6%
Banking and credit card processing  $4,224    0.0%  $8,546    0.1%  $(4,322)   -50.6%
Professional fees  $249,443    2.1%  $525,449    3.5%  $(276,006)   -52.5%
   $2,676,935    22.0%  $3,357,288    22.3%  $(680,353)   -20.3%
Non-cash OpEx:                              
Credit loss expense  $8,199    0.1%  $9,381    0.1%  $(1,182)   -12.6%
Share based compensation  $8,464    0.1%  $161,796    1.0%  $(153,332)   -94.8%
Depreciation & amortization  $60,330    0.5%  $71,749    0.5%  $(11,419)   -15.9%
Taxes & fees  $18,000    0.1%  $59,594    0.4%  $(41,594)   -69.8%
   $94,993    0.8%  $302,520    2.0%  $(207,527)   -68.6%
Non-Operating Expense:                              
Interest expense  $7,302    0.1%  $6,637    0.0%  $665    10.0%
Total other expense  $7,302    0.1%  $6,637    0.0%  $665    -10.0%
                               
Income tax expense   -    0.0%   -    0.0%   -    - 
                               
Net income from continuing operations  $343,391    2.8%  $253,819    1.7%  $89,572    35.3%
                               
Other segment disclosures:                              
Segment assets  $12,110,883        $18,543,636                
Expenditures for segment assets  $31,183        $163,366