| Information on Business Segments |
8)
Information on Business Segments
We
organize our business segments based on the nature of the products and services offered. Operating segments are defined as the components
of as business which separate financial information is available. In the following tables of financial data, the total of the operating
results of these business segments is reconciled, as appropriate, to the corresponding consolidated amount. There are some corporate
expenses that were not allocated to the business segments, and these expenses are contained in the “Operating expenses” under
Parent. Management has determined to report under the following segments:
| |
- |
Corporate
– for shared expenses between the other reportable segments |
| |
- |
Pressure
Biosciences reported as “Industrial |
| |
- |
Uncle
Buds reported as “Consumer” |
The
Company’s reportable segments information is as follows:
Schedule
of Operating Expenses
| |
|
Parent |
|
|
Industrial |
|
|
Consumer |
|
|
Totals |
|
|
Parent |
|
|
Industrial |
|
|
Consumer |
|
|
Totals |
|
| |
|
For the six months ended June 30, 2024 |
|
|
For the six months ended June 30, 2023 |
|
| |
|
Parent |
|
|
Industrial |
|
|
Consumer |
|
|
Totals |
|
|
Parent |
|
|
Industrial |
|
|
Consumer |
|
|
Totals |
|
| Revenue |
|
$ |
23,404 |
|
|
$ |
335,007 |
|
|
$ |
412,638 |
|
|
$ |
771,049 |
|
|
$ |
- |
|
|
$ |
1,252,403 |
|
|
$ |
- |
|
|
$ |
1,252,403 |
|
| Less direct cost of revenue |
|
|
- |
|
|
|
277,570 |
|
|
|
333,281 |
|
|
|
610,851 |
|
|
|
- |
|
|
|
615,227 |
|
|
|
- |
|
|
|
615,227 |
|
| Gross Margin |
|
|
23,404 |
|
|
|
57,437 |
|
|
|
79,357 |
|
|
|
160,198 |
|
|
|
- |
|
|
|
637,176 |
|
|
|
- |
|
|
|
637,176 |
|
| Operating expenses |
|
|
1,239,586 |
|
|
|
1,517,292 |
|
|
|
816,418 |
|
|
|
3,573,296 |
|
|
|
4,260,321 |
|
|
|
1,096,121 |
|
|
|
- |
|
|
|
5,356,442 |
|
| (Net loss) from operations |
|
|
(1,216,182 |
) |
|
|
(1,459,855 |
) |
|
|
(737,061 |
) |
|
|
(3,413,098 |
) |
|
|
(4,260,321 |
) |
|
|
(458,945 |
) |
|
|
- |
|
|
|
(4,719,266 |
) |
| Non-operating income (expenses) |
|
|
(11,777,806 |
) |
|
|
- |
|
|
|
- |
|
|
|
(11,777,806 |
) |
|
|
(9,061,271 |
) |
|
|
- |
|
|
|
- |
|
|
|
(9,061,271 |
) |
| Deemed dividends |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(3,626,950 |
) |
|
|
- |
|
|
|
- |
|
|
|
(3,626,950 |
) |
| Preferred dividends |
|
|
(1,264,106 |
) |
|
|
- |
|
|
|
- |
|
|
|
(1,264,106 |
) |
|
|
(997,079 |
) |
|
|
- |
|
|
|
- |
|
|
|
(997,079 |
) |
| Net Loss |
|
$ |
(14,258,094 |
) |
|
$ |
(1,459,855 |
) |
|
$ |
(737,061 |
) |
|
$ |
(16,455,010 |
) |
|
$ |
(17,945,621 |
) |
|
$ |
(458,945 |
) |
|
$ |
- |
|
|
$ |
(18,404,566 |
) |
| |
|
As of June 30, 2024 |
|
|
As of December 31, 2023 |
|
| Segment Assets |
|
$ |
935,351 |
|
|
$ |
725,909 |
|
|
$ |
5,287,396 |
|
|
$ |
6,948,656 |
|
|
$ |
1,049,676 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,049,676 |
|
Our
Industrial segment contains the UST, BaroFold and PCT Platforms. Our Consumer segment represents the activity in our recent purchase
of Uncle Bud’s. Uncle Bud’s offer products direct-to-consumer on-line and through major retailers.
|