v3.26.3
REPORTABLE SEGMENTS
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
REPORTABLE SEGMENTS

NOTE 17 — REPORTABLE SEGMENTS

 

The Group determines its operating segments based on the management approach used by the Chief Operating Decision Maker (“CODM”), identified as the Chief Executive Officer, to evaluate performance and allocate resources. The CODM regularly reviews financial information organized by the Group’s principal operating entities, which consist of the operations of the Australian parent company and its United States subsidiaries.

 

Accordingly, the Group has identified two reportable segments: Australia and the United States. The Australia segment primarily consists of the Group’s Australian beverage operations and corporate activities. The United States segment consists of the operations of the Group’s United States subsidiaries. The CODM evaluates the performance of the reportable segments primarily based on revenues and loss from operations and uses such information in assessing performance and allocating resources. Intercompany transactions and balances are eliminated in consolidation.

 

Revenue by reportable segment was as follows:

 

       
    For the Years Ended
    December 31,
    2025   2024
Revenues:       (As Restated)
         
Australia   $ 2,743,510     $ 2,920,941  
United States     28,731       1,300  
Total revenues   $ 2,772,241     $ 2,922,241  

 

   For the Years Ended
   December 31,
   2025  2024
Loss from operations:     (As Restated)
       
Australia  $(4,703,076)  $(3,924,549)
United States   (679,819)   (1,139,956)
Total loss from operations  $(5,382,895)  $(5,064,505)

 

   For the Years Ended
   December 31,
   2025  2024
Depreciation and amortization:     (As Restated)
       
Australia  $238,642   $471,995 
United States   4,355    4,355 
Total depreciation and amortization  $242,997   $476,350 

 

Depreciation and amortization includes amortization of right-of-use assets recorded in connection with the Group’s operating leases.

 

               
    For the Years Ended
    December 31,
    2025   2024
Capital expenditures:       (As Restated)
         
Australia   $ 50,444     $ 7,105  
United States     —       —  
Total capital expenditures   $ 50,444     $ 7,105  

 

    December 31,
    2025   2024
Total assets:       (As Restated)
         
Australia   $ 1,213,357     $ 3,366,461  
United States     27,975       431,417  
Effect of exchange rate changes     46,078       (27,865 )
Total assets   $ 1,287,410     $ 3,770,013  

 

Total assets excludes intercompany balances and, for the Australia segment, investments in consolidated subsidiaries.