Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.21.2
Segment reporting
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment reporting

Note 12 – 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 specializing in high performance and easy to use audio/video, home theater, lighting control, automation, and integration. The table below discloses income statement information by segment.

 

                       
    Six months ended June 30, 2021  
    Focus     AVX     Total  
                   
Revenue   $ 526,161     $ 83,841     $ 610,002  
Revenue - related party     15,141             15,141  
Total revenue     541,302       83,841       625,143  
                         
Cost of Revenue     422,663       78,183       500,846  
                         
Gross Profit     118,639       5,658       124,297  
                         
Operating Expenses:                        
Selling     332       626       958  
Compensation - officers     73,100             73,100  
Research and development     110,372             110,372  
Professional fees     669,679       1,471       671,150  
General and administrative     519,574       131,871       651,445  
Total Operating Expenses     1,373,057       133,968       1,507,025  
                         
Loss from Operations     (1,254,418 )     (128,310 )     (1,382,728 )
                         
Other Income (Expense):                        
Interest income (expense), net     (20,715 )     (2,041 )     (22,756 )
Other income (expense), net     245,241       (2,418 )     242,823  
Total other income (expense)     224,526       (4,459 )     220,067  
                         
Loss before income taxes     (1,029,892 )     (132,769 )     (1,162,661 )
                         
Tax expense                  
                         
Net Loss   $ (1,029,892 )   $ (132,769 )   $ (1,162,661 )