Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.22.2
Segment reporting
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment reporting

Note 12 – Segment reporting

 

The Company consists of two types of operations. Focus Universal, Inc. (“Corporate”) involves operations related to research and development of technology products, non-specific financing, executive expense, operations and investor relations of the public entity, and general shared management and costs across subsidiary units which spread across all functional categories. Perfecular Inc. (“Perfecular”) involve wholesale, marketing, and production of universal smart instrument and devices in the hydroponic and controlled agricultural segments. 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, 2022  
    Corporate     Perfecular     AVX     Total  
                         
Revenue   $ –     $ 47,650     $ 140,339     $ 187,989  
Revenue - related party     –       31,542       2,278       33,820  
Total revenue     –       79,192       142,617       221,809  
                                 
Cost and Operating Expenses                                
Cost of Revenue, excluding depreciation & amortization     –       60,702       139,861       200,563  
Selling expense     –       48,085       7,802       55,887  
Compensation - officers and directors     110,040       –       –       110,040  
Research and development     729,105       –       –       729,105  
Professional fees     522,546       –       12,661       535,207  
General and administrative     446,576       1,141,522       132,118       1,720,216  
Total Cost and Operating Expenses     1,808,267       1,250,309       292,442       3,351,018  
                                 
Loss from Operations     (1,808,267 )     (1,171,117 )     (149,825 )     (3,129,209 )
                                 
Other Income (Expense):                                
Interest income (expense), net     490       (288 )     48       250  
Unrealized loss on marketable equity securities     (74,626 )     –       –       (74,626 )
Realized gain on marketable equity securities     10,281       –       –       10,281  
Other income (expense), net     105,560       160,117       (3,600 )     263,077  
Total other income (expense)     42,705       159,829       (3,552 )     198,982  
                                 
Loss before income taxes     (1,765,562 )     (1,011,288 )     (153,377 )     (2,930,227 )
                                 
Tax expense     –       –       –       –  
                                 
Net Loss   $ (1,765,562 )   $ (1,011,288 )   $ (153,377 )   $ (2,930,227 )