v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 12 – SEGMENT INFORMATION

 

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess performance.

 

The CODM has been identified as the Chief Executive Officer, who reviews the assets, operating results, and financial metrics for the company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is only one reportable segment.

 

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statement of operations as net income or loss. When evaluating the company’s performance and making key decisions regarding resource allocation, the CODM reviews each of the key metrics included in operating income or loss and set forth in the table below.

 

The company is currently deemed to be comprised of only one operating segment and one reportable segment. The following table presents selected financial information with respect to the company’s single reportable segment for the three and six months ended June 30, 2026 and 2025:

 

    For the three months Ended     For the Six months Ended  
    June 30,     June 30,  
    2026     2025     2026     2025  
Revenue   $ 62,000     $ 70,335     $ 62,000     $ 280,088  
                                 
Operating Expenses                                
Cost of revenue                                
Payroll and related     21,570       29,277       21,570       88,341  
Materials and supplies     -       18,213       -       23,063  
Marketing and travel     -       -       -       -  
Total cost of revenue      21,570       47,490        21,570         111,404  
                                 
General and administrative                                
Payroll and related     945,291       738,049       1,946,973       1,418,369  
Professional fees     498,182       317,249       822,027       636,831  
Board compensation     96,250       89,667       192,500       165,917  
Employee stock based compensation     713,303       622,244       1,577,437       1,093,988  
Consulting stock based compensation     620,801       540,726       1,104,898       1,060,775  
Materials and supplies     24,420       50,379       62,287       122,265  
Marketing and travel     59,537       79,901       146,880       144,628  
Investor relations     22,711       63,661       47,173       99,783  
Insurance     94,850       16,755       146,100       92,288  
Software and communications     86,351       72,100       143,108       143,702  
General and administrative, including rent     168,807       174,375       335,765       340,097  
Depreciation     87,004       58,053       175,147       114,203  
Total general and administrative      3,417,507            2,823,159       6,700,295            5,432,847  
                                 
Selling and marketing                                
Professional fees     205,629       540,366       340,329       797,143  
Payroll and related     2,301       87,601       26,118       147,765  
Marketing and travel     15,400       21,293       29,162       23,136  
Total selling and marketing     223,330       649,260       395,609       968,044  
                                     
Research and development                                
Payroll and related     333,389       232,166       650,831       414,873  
Professional fees     -       -       -       -  
Materials and supplies     365,845       104,012       423,444       244,352  
Total research and development      699,234        336,178         1,074,275        659,225  
                                 
Operating loss   $ (4,299,641 )   $ (3,785,752 )   $ (8,129,749 )   $ (6,891,432 )