Focus Universal Inc. Quarterly report pursuant to Section 13 or 15(d)

Segment reporting (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting
	Six Months Ended June 30, 2023
	Corporate and R&D			IoT Products			IoT Installation Services			Total

Revenue	$	–		$	78,148		$	373,338		$	451,486
Revenue – related party		–			–			–			–
Total revenue		–			78,148			373,338			451,486

Cost of revenue		–			56,355			273,648			330,003

Gross Profit		–			21,793			99,690			121,483

Operating Expenses
Selling expense		31,462			32,660			10,812			74,934
Compensation – officers and directors		560,937			–			–			560,937
Research and development		619,473			–			–			619,473
Professional fees		373,964			–			–			373,964
General and administrative		704,878			8,378			91,380			804,635
Total Cost and Operating Expenses		2,290,714			41,038			102,192			2,433,943

Loss from Operations		(2,290,714	)		(19,245	)		(2,501	)		(2,312,460	)

Other Income (Expense):
Interest income (expense), net		30,591			3			(40	)		30,554
Gain on bargain purchase		61,747			–			–			61,747
Unrealized loss on marketable equity securities		27,565			–			–			27,565
Realized loss on marketable equity securities		(14,249	)		–			–			(14,249	)
Rental income		80,293			–			–			80,293
Other income (expense), net		(4,464	)		1,999			(3,394	)		(5,859	)
Total other income (expense)		181,483			2,002			(3,434	)		180,051

Loss before income taxes		(2,109,231	)		(17,243	)		(5,935	)		(2,132,409	)

Tax expense		–			–			–			–

Net Loss	$	(2,109,231	)	$	(17,243	)	$	(5,935	)	$	(2,132,409	)


	Six Months Ended June 30, 2022
	Corporate and R&D			IoT Products			IoT Installation Services			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 of revenue		–			61,310			139,861			201,171

Gross Profit		–			17,882			2,756			20,638

Operating Expenses
Selling expense		–			48,085			7,802			55,887
Compensation – officers and directors		604,290			–			–			604,290
Research and development		729,105			–			–			729,105
Professional fees		535,207			–			–			535,207
General and administrative		970,132			123,108			132,118			1,225,358
Total Cost and Operating Expenses		2,838,734			171,193			139,920			3,149,847

Loss from Operations		(2,838,734	)		(153,311	)		(137,164	)		(3,129,209	)

Other Income (Expense):
Interest income (expense), net		490			(288	)		48			250
Gain on bargain purchase		–			–			–			–
Unrealized loss on marketable equity securities		(74,626	)		–			–			(74,626	)
Realized loss on marketable equity securities		10,281			–			–			10,281
Rental income		78,342			–			–			78,342
Other income (expense), net		28,218			160,117			(3,600	)		184,735
Total other income (expense)		42,705			159,829			(3,552	)		198,982

Loss before income taxes		(2,796,029	)		6,518			(140,716	)		(2,930,227	)

Tax expense		–			–			–			–

Net Loss	$	(2,796,029	)	$	6,518		$	(140,716	)	$	(2,930,227	)