| 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.
| Segment information table |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year ended December 31, 2021 |
|
| |
|
Focus |
|
|
AVX |
|
|
Total |
|
| |
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
1,152,404 |
|
|
$ |
252,958 |
|
|
$ |
1,405,362 |
|
| Revenue - related party |
|
|
29,084 |
|
|
|
– |
|
|
|
29,084 |
|
| Total revenue |
|
|
1,181,488 |
|
|
|
252,958 |
|
|
|
1,434,446 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost and Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of Revenue, excluding depreciation & amortization |
|
|
926,907 |
|
|
|
209,408 |
|
|
|
1,136,315 |
|
| Selling expense |
|
|
26,512 |
|
|
|
13,309 |
|
|
|
39,821 |
|
| Compensation - officers and directors |
|
|
661,171 |
|
|
|
– |
|
|
|
661,171 |
|
| Research and development |
|
|
220,469 |
|
|
|
– |
|
|
|
220,469 |
|
| Professional fees |
|
|
1,025,812 |
|
|
|
4,347 |
|
|
|
1,030,159 |
|
| General and administrative |
|
|
1,081,627 |
|
|
|
281,471 |
|
|
|
1,363,098 |
|
| Total Cost and Operating Expenses |
|
|
3,942,498 |
|
|
|
508,535 |
|
|
|
4,451,033 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from Operations |
|
|
(2,761,010 |
) |
|
|
(255,577 |
) |
|
|
(3,016,587 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income (expense), net |
|
|
(35,731 |
) |
|
|
(1,877 |
) |
|
|
(37,608 |
) |
| Gain on extinguishment of debt |
|
|
152,990 |
|
|
|
218,128 |
|
|
|
371,118 |
|
| Change in fair value of warrant liability |
|
|
(1,284,780 |
) |
|
|
– |
|
|
|
(1,284,780 |
) |
| Gain on settlement of derivative liability |
|
|
550,406 |
|
|
|
– |
|
|
|
550,406 |
|
| Other income (expense), net |
|
|
201,212 |
|
|
|
(4,738 |
) |
|
|
196,474 |
|
| Total other income (expense) |
|
|
(415,903 |
) |
|
|
211,513 |
|
|
|
(204,390 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Tax expense |
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net Loss |
|
$ |
(3,176,913 |
) |
|
$ |
(44,064 |
) |
|
$ |
(3,220,977 |
) |
|