v3.26.1
NOTE 14: SEGMENT REPORTING
6 Months Ended
Jun. 30, 2026
Notes  
NOTE 14: SEGMENT REPORTING

NOTE 14: SEGMENT REPORTING

 

Following the classification of Ranco LLC as a discontinued operation in the fourth quarter of 2025, the Company has one reportable segment for the three and six months ended June 30, 2026 consisting of the CFN/Wine segment, which includes the operations of J Street, Prestige, Interstice Cellars, the CFN Media business, and CNP Operating.

 

Prior to the discontinued operations classification, the Company had three operating segments: Ranco-Legacy, Ranco-AGP, and CFN (which included the CFN Media business, J Street, and CNP Operating). The historical segment results for the Ranco-Legacy and Ranco-AGP segments are now presented within discontinued operations. 

 

As the Company operates in a single reportable segment, the segment financial information is the same as the consolidated financial statements for continuing operations. The following table summarizes key financial data for the Company's single reportable segment:

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

 

2026

 

2025

 

2026

 

2025

Net revenues

 

$48,598  

 

$6,302  

 

$136,515  

 

$8,585  

Cost of revenue

 

31,852  

 

100  

 

89,099  

 

352  

Gross profit

 

16,746  

 

6,202  

 

47,416  

 

8,233  

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

1,349,714  

 

337,955  

 

2,576,228  

 

801,886  

Loss from operations

 

(1,332,968) 

 

(331,753) 

 

(2,528,812) 

 

(793,653) 

 

 

 

 

 

 

 

 

 

Interest expense

 

(58,196) 

 

(54,248) 

 

(113,304) 

 

(108,496) 

Loss on conversion of accrued interest

 

 

 

(60,000) 

 

 

 

(60,000) 

Other income

 

28,318  

 

 

 

44,936  

 

 

Total other expense, net

 

(29,878) 

 

(114,248) 

 

(68,368) 

 

(168,496) 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

 

 

 

 

 

 

 

Net loss from continuing operations

 

$(1,362,846) 

 

$(446,001) 

 

$(2,597,180) 

 

$(962,149) 

 

 

 

June 30,

 

December 31,

 

 

2026

 

2025

Total assets

 

$724,848 

 

$1,230,330