Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.22.2.2
Segment reporting
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment reporting

Note 12 – Segment reporting

 

The Company consists of three  types of operations. (1) 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. (2) Perfecular Inc. (“Perfecular”) involves wholesale, marketing, and production of universal smart instruments and devices in the hydroponic and controlled agricultural segments. (3) 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. 

                               
                         
    Nine Months Ended September 30, 2022  
    Corporate     Perfecular     AVX     Total  
                         
Revenue   $ –     $ 49,094     $ 193,581     $ 242,675  
Revenue - related party     –       31,542       8,246       39,788  
Total revenue     –       80,636       201,827       282,463  
                                 
Cost of revenue     –       70,869       172,135       243,004  
                                 
Gross Profit     –       9,767       29,692       39,459  
                                 
Operating Expenses                                
Selling expense     –       123,117       9,754       132,871  
Compensation - officers and directors     144,040       –       –       144,040  
Research and development     862,214       –       –       862,214  
Professional fees     673,380       –       12,770       686,150  
General and administrative     621,931       1,503,747       191,681       2,317,359  
Total Cost and Operating Expenses     2,301,565       1,626,864       214,205       4,142,634  
                                 
Loss from Operations     (2,301,565 )     (1,617,097 )     (184,513 )     (4,103,175 )
                                 
Other Income (Expense):                                
Interest income (expense), net     853       (288 )     2,320       2,885  
Unrealized loss on marketable equity securities     (32,525 )     –       –       (32,525 )
Realized loss on marketable equity securities     (21,205 )     –       –       (21,205 )
Other income (expense), net     130,162       160,117       (8,506 )     281,773  
Total other income (expense)     77,285       159,829       (6,186 )     230,928  
                                 
Loss before income taxes     (2,224,280 )     (1,457,268 )     (190,699 )     (3,872,247 )
                                 
Tax expense     –       –       –       –  
                                 
Net Loss   $ (2,224,280 )   $ (1,457,268 )   $ (190,699 )   $ (3,872,247 )