| NOTE 10: SEGMENT REPORTING |
NOTE 10: SEGMENT REPORTING
During the nine months ended September 30, 2025 and 2024, the Company had three operating segments including:
·CFN, which is comprised of the CFN Business, the J Street Business and CNP Operating, LLC;
·Ranco-AGP, which consists of the related party transactions with AGP Holdings LLC (see Note 8); and
·Ranco-Legacy, which consists of the rest of the Company’s Ranco subsidiary operations.
Factors used to identify the Company’s reportable segments include the organizational structure of the Company and the financial information available for evaluation by the chief operating decision-maker in making decisions about how to allocate resources and assess performance. The Company’s operating segments have been broken out based on similar economic and other qualitative criteria.
Financial statement information by operating segment for the three and nine months ended September 30, 2025 is presented below:
| Three Months Ended September 30, 2025
|
| Nine Months Ended September 30, 2025
|
Asset
| Ranco-Legacy
|
| Ranco-AGP
|
| CFN
|
| Consolidated
|
| Ranco-Legacy
|
| Ranco-AGP
|
| CFN
|
| Consolidated
|
Total Assets
| $4,969,155
|
| $-
|
| $558,096
|
| $5,527,251
|
| $4,969,155
|
| $-
|
| $558,096
|
| $5,527,251
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| | Ranco-Legacy
|
| Ranco-AGP
|
| CFN
|
| Consolidated
|
| Ranco-Legacy
|
| Ranco-AGP
|
| CFN
|
| Consolidated
|
Net revenues
| $1,842,369
|
| $4,789,230
|
| $13,642
|
| $6,645,241
|
| $13,060,187
|
| $18,139,930
|
| $22,227
|
| $31,222,344
|
Cost of revenue
| 634,290
|
| 4,311,010
|
| 408
|
| 4,945,708
|
| 12,689,707
|
| 16,456,063
|
| 760
|
| 29,146,530
|
Gross profit
| 1,208,079
|
| 478,220
|
| 13,234
|
| 1,699,533
|
| 370,480
|
| 1,683,867
|
| 21,467
|
| 2,075,814
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative
| 1,644,965
|
| -
|
| 431,608
|
| 2,076,573
|
| 5,883,246
|
| -
|
| 1,233,495
|
| 7,116,741
|
Total operating expenses
| 1,644,965
|
| -
|
| 431,608
|
| 2,076,573
|
| 5,883,246
|
| -
|
| 1,233,495
|
| 7,116,741
|
|
|
|
|
|
|
| -
|
|
|
|
|
|
|
| -
|
Income (loss) from operations
| (436,886)
|
| 478,220
|
| (418,374)
|
| (377,040)
|
| (5,512,766)
|
| 1,683,867
|
| (1,212,028)
|
| (5,040,927)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
| (1,204)
|
| -
|
| (55,552)
|
| (56,756)
|
| (1,204)
|
| -
|
| (164,048)
|
| (165,252)
|
Other income
| -
|
| -
|
| -
|
| -
|
| 34,917
|
| -
|
| -
|
| 34,917
|
Loss on conversion of accrued interest
| -
|
| -
|
| -
|
| -
|
| -
|
| -
|
| (60,000)
|
| (60,000)
|
Total other income (expense), net
| (1,204)
|
| -
|
| (55,552)
|
| (56,756)
|
| 33,713
|
| -
|
| (224,048)
|
| (190,335)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes
| -
|
| -
|
| -
|
| -
|
| -
|
| -
|
| -
|
| -
|
Net income (loss)
| $(438,090)
|
| $478,220
|
| $(473,926)
|
| $(433,796)
|
| $(5,479,053)
|
| $1,683,867
|
| $(1,436,076)
|
| $(5,231,262)
|
Preferred stock interest
| -
|
| -
|
| 90,000
|
| 90,000
|
| -
|
| -
|
| 210,000
|
| 210,000
|
Net income (loss) available to common shareholders
| $(438,090)
|
| $478,220
|
| $(563,926)
|
| $(523,796)
|
| $(5,479,053)
|
| $1,683,867
|
| $(1,646,076)
|
| $(5,441,262)
|
Financial statement information by operating segment for the three and nine months ended September 30, 2024 is presented below:
| Three Months Ended September 30, 2024
|
| Nine Months Ended September 30, 2024
|
Assets
| Ranco-Legacy
|
| Ranco-AGP
|
| CFN
|
| Consolidated
|
| Ranco-Legacy
|
| Ranco-AGP
|
| CFN
|
| Consolidated
|
Total Assets
| $8,775,242
|
| $-
|
| $276,383
|
| $9,051,625
|
| $8,775,242
|
| $-
|
| $276,383
|
| $9,051,625
|
| Ranco-Legacy
|
| Ranco-AGP
|
| CFN
|
| Consolidated
|
| Ranco-Legacy
|
| Ranco-AGP
|
| CFN
|
| Consolidated
|
Net revenues
| $6,641,670
|
| $-
|
| $130,071
|
| $6,771,741
|
| $16,221,093
|
| $-
|
| $289,202
|
| $16,510,295
|
Cost of revenue
| 2,394,994
|
| -
|
| -
|
| 2,394,994
|
| 9,410,885
|
| -
|
| 13,945
|
| 9,424,830
|
Gross profit
| 4,246,676
|
| -
|
| 130,071
|
| 4,376,747
|
| 6,810,208
|
| -
|
| 275,257
|
| 7,085,465
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative
| 2,127,196
|
| -
|
| 613,189
|
| 2,740,385
|
| 4,103,724
|
| -
|
| 1,803,404
|
| 5,907,128
|
Total operating expenses
| 2,127,196
|
| -
|
| 613,189
|
| 2,740,385
|
| 4,103,724
|
| -
|
| 1,803,404
|
| 5,907,128
|
|
|
|
|
|
|
| -
|
|
|
|
|
|
|
| -
|
Income (loss) from operations
| 2,119,480
|
| -
|
| (483,118)
|
| 1,636,362
|
| 2,706,484
|
| -
|
| (1,528,147)
|
| 1,178,337
|
|
|
|
|
|
|
| -
|
|
|
|
|
|
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
| (607,952)
|
| -
|
| (55,561)
|
| (663,513)
|
| (1,937,559)
|
| -
|
| (166,989)
|
| (2,104,548)
|
Interest income
| -
|
| -
|
| 51
|
| 51
|
| -
|
| -
|
| 202
|
| 202
|
Total other income (expense), net
| (607,952)
|
| -
|
| (55,510)
|
| (663,462)
|
| (1,937,559)
|
| -
|
| (166,787)
|
| (2,104,346)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes
| -
|
| -
|
| -
|
| -
|
| -
|
| -
|
| -
|
| -
|
Net income (loss)
| $1,511,528
|
| $-
|
| $(538,628)
|
| $972,900
|
| $768,925
|
| $-
|
| $(1,694,934)
|
| $(926,009)
|
Preferred stock interest
| -
|
| -
|
| 60,000
|
| 60,000
|
| -
|
| -
|
| 180,000
|
| 180,000
|
Net income (loss) available to common shareholders
| $1,511,528
|
| $-
|
| $(598,628)
|
| $912,900
|
| $768,925
|
| $-
|
| $(1,874,934)
|
| $(1,106,009)
|
|