v3.25.3
Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 15 – Segment Reporting

 

The Company operates as a single reportable segment, which is engaged in the production and sale of freeze-dried candy products. The Chief Operating Decision Maker (“CODM”), who is the Company’s Chief Executive Officer, evaluates the performance of the business and allocates resources based on a review of the Statement of Operations presented on a consolidated basis. The CODM does not review assets in evaluating the results of the freeze-dried candy segment, and therefore, such information is not presented. The accounting policies of the freeze-dried candy segment are the same as those described in Note 2 – Summary of Significant Accounting Policies.

The following table provides the operating financial results of our freeze-dried candy segment for the three and nine months

ended September 30, 2025 and 2024:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 Revenues

 

$

1,553,138

 

 

$

3,554,157

 

 

$

5,886,372

 

 

$

30,608,526

 

 Less: Significant other segment expenses

 

 

 

 

 

 

 

 

 

 

 

 

 Cost of goods sold

 

 

10,500,626

 

 

 

2,998,171

 

 

 

13,860,846

 

 

 

16,415,970

 

 Salaries and benefits

 

 

1,826,918

 

 

 

1,875,908

 

 

 

5,701,187

 

 

 

6,350,038

 

 Professional services

 

 

97,553

 

 

 

320,289

 

 

 

548,106

 

 

 

1,382,393

 

 Other general and administrative expenses

 

 

1,712,505

 

 

 

1,607,844

 

 

 

4,832,623

 

 

 

3,879,350

 

 Depreciation and amortization

 

 

8,584

 

 

 

8,583

 

 

 

25,751

 

 

 

23,060

 

 Loss on impairment of long-lived assets

 

 

24,690

 

 

 

-

 

 

 

24,690

 

 

 

-

 

 Interest expense, net

 

 

93,274

 

 

 

185,586

 

 

 

361,747

 

 

 

1,199,789

 

 Loss on early extinguishment of debt

 

 

-

 

 

 

-

 

 

 

-

 

 

 

696,502

 

 Gain on termination of leases

 

 

(1,775,528

)

 

 

-

 

 

 

(1,775,528

)

 

 

-

 

 Income tax expense (benefit)

 

 

-

 

 

 

(62,315

)

 

 

-

 

 

 

195,603

 

 Segment net income (loss)

 

$

(10,935,484

)

 

$

(3,379,909

)

 

$

(17,693,050

)

 

$

465,821