v3.26.1
SEGMENTS
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENTS

NOTE 12 — SEGMENTS

 

The Company has two reportable segments: Tobacco Products and All Other Product Lines. The Company’s Chief Executive Officer serves as its chief operating decision maker (“CODM”). The CODM reviews revenues, operating expenses and income (loss) from operations for each reportable segment to assess segment performance and make decisions regarding the allocation of resources. The accounting policies of the reportable segments are the same as those described in Note 2 — Summary of Significant Accounting Policies.

 

The following table details revenue and operating expenses, for the Company’s reportable segments for the six months ended June 30, 2026.

 

   Tobacco Products  

All other

Products

   Total 
Revenue:               
Net sales  $2,260,097   $72,922   $2,333,019 
Cost of sales   1,232,890    17,723    1,250,613 
Gross profit   1,027,207    55,199    1,082,406 
                
Operating expenses:               
Employee costs   250,829    7,758    258,587 
Selling, general and administrative expenses   608,257    18,812    627,069 
Total operating expenses   859,086    26,570    885,656 
                
Income from operations   168,121    28,629    196,750 
                
Other income (expense):               
Interest expense   —    (426,540)   (426,540)
Gain on forgiveness of debt   —    5,511    5,511 
Gain on derivative valuation   —    63,025    63,025 
Total other expense   —    (358,004)   (358,004)
Net income (loss) from continuing operations   168,121    (329,375)   (161,254)
Income from discontinued operations   —    2,274,031    2,274,031 
Net Income before income tax   168,121    1,944,656    2,112,777 
Income tax   —    —    — 
Net Income  $168,121   $1,944,656   $2,112,777 

 

 

The following table details revenue, operating expenses, and assets for the Company’s reportable segments for the six months ended June 30, 2025.

 

   Tobacco Products  

All other

Products

   Total 
Revenue:               
Net sales  $559,437   $69,814   $629,251 
Cost of sales   247,124    26,891    274,015 
Gross profit   312,313    42,923    355,236 
                
Operating expenses:               
Employee costs   236,367    15,087    251,454 
Selling, general and administrative expenses   320,454    19,859    340,313 
Total operating expenses   556,821    34,946    591,767 
                
Loss from operations   (244,508)   7,977    (236,531)
                
Other income (expense):               
Interest expense   —    (405,761)   (405,761)
Gain on forgiveness of debt   —    5,141    5,141 
Gain on derivative valuation   —    4,384    4,384 
Other income   —    6    6 
Total other expense   —    (396,230)   (396,230)
Net loss from continuing operations   (244,508)   (388,253)   (632,761)
Loss from discontinued operations   —    (76,102)   (76,102)
Income tax   —    (9,323)   (9,323)
Net Loss  $(244,508)  $(473,678)  $(718,186)