| Segment reporting |
Note 15 – Segment reporting
The Company consists of two types of operations.
Focus Universal, Inc. and Perfecular Inc. (“Focus”) involve wholesale, research and development of universal smart
instrument and farming devices. AVX Design & Integration, Inc. (“AVX”) is an IoT installation and management company
specializeing in high performance and easy to use audio/gideo, home theater, lighting control, automation, and integration. The
table below discloses income statement information by segment.
| |
|
Nine months ended September 30, 2020 |
|
| |
|
Focus |
|
|
AVX |
|
|
Total |
|
| |
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
667,443 |
|
|
$ |
600,450 |
|
|
$ |
1,267,893 |
|
| Revenue - related party |
|
|
21,267 |
|
|
|
– |
|
|
|
21,267 |
|
| Total revenue |
|
|
688,710 |
|
|
|
600,450 |
|
|
|
1,289,160 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of Revenue |
|
|
492,533 |
|
|
|
543,067 |
|
|
|
1,035,600 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Gross Profit |
|
|
196,177 |
|
|
|
57,383 |
|
|
|
253,560 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Selling |
|
|
8,936 |
|
|
|
8,760 |
|
|
|
17,696 |
|
| Compensation - officers |
|
|
102,000 |
|
|
|
– |
|
|
|
102,000 |
|
| Research and development |
|
|
194,232 |
|
|
|
– |
|
|
|
194,232 |
|
| Professional fees |
|
|
1,066,525 |
|
|
|
4,844 |
|
|
|
1,071,369 |
|
| General and administrative |
|
|
729,186 |
|
|
|
244,939 |
|
|
|
974,125 |
|
| Total Operating Expenses |
|
|
2,100,879 |
|
|
|
258,543 |
|
|
|
2,359,422 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from Operations |
|
|
(1,904,702 |
) |
|
|
(201,160 |
) |
|
|
(2,105,862 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income (expense), net |
|
|
(994 |
) |
|
|
(849 |
) |
|
|
(1,843 |
) |
| Interest (expense) – related party |
|
|
(81 |
) |
|
|
– |
|
|
|
(81 |
) |
| Other income |
|
|
113,706 |
|
|
|
5,747 |
|
|
|
119,453 |
|
| Total other income (expense) |
|
|
112,631 |
|
|
|
4,898 |
|
|
|
117,729 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss before income taxes |
|
|
(1,792,071 |
) |
|
|
(196,262 |
) |
|
|
(1,988,333 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Tax expense |
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net Loss |
|
$ |
(1,792,071 |
) |
|
$ |
(196,262 |
) |
|
$ |
(1,988,333 |
) |
|