Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.22.1
Segment reporting
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Segment reporting

Note 12 – Segment reporting

 

The Company consists of three 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.

 

                         
    Three Months Ended March 31, 2022  
    Corporate     Perfecular     AVX     Total  
                         
Revenue   $ –     $ 40,500     $ 85,125     $ 125,625  
Revenue - related party     –       31,542       –       31,542  
Total revenue     –       72,042       85,125       157,167  
                                 
Cost and Operating Expenses                                
Cost of Revenue, excluding depreciation & amortization     –       58,977       84,114       143,091  
Selling expense     –       34,001       4,338       38,339  
Compensation - officers and directors     76,040       –       –       76,040  
Research and development     561,744       –       –       561,744  
Professional fees     349,912       –       10,954       360,866  
General and administrative     261,189       583,964       55,795       900,948  
Total Cost and Operating Expenses     1,248,885       676,942       155,201       2,081,028  
                                 
Loss from Operations     (1,248,885 )     (604,900 )     (70,076 )     (1,923,861 )
                                 
Other Income (Expense):                                
Interest income (expense), net     282       (288 )     –       (6 )
Other income (expense), net     57,401       –       (2,464 )     54,937  
Total other income (expense)     57,683       (288 )     (2,464 )     54,931  
                                 
Loss before income taxes     (1,191,202 )     (605,188 )     (72,540 )     (1,868,930 )
                                 
Tax expense     –       –       –       –  
                                 
Net Loss   $ (1,191,202 )   $ (605,188 )   $ (72,540 )   $ (1,868,930 )