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

Segment reporting (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting
	Three Months Ended March 31, 2023
	Corporate and R&D			IoT Products			IoT Installation Services			Total

Revenue	$	–		$	13,281		$	222,814		$	236,095
Revenue – related party		–			–			–			–
Total revenue		–			13,281			222,814			236,095

Cost of revenue		–			8,803			171,941			180,744

Gross Profit		–			4,478			50,873			55,351

Operating Expenses
Selling expense		5,248			2,875			3,736			11,859
Compensation – officers and directors		307,534			–			–			307,534
Research and development		276,481			–			–			276,481
Professional fees		257,399			–			–			257,399
General and administrative		390,998			3,546			48,508			443,052
Total Cost and Operating Expenses		1,237,660			6,421			52,244			1,296,325

Loss from Operations		(1,237,660	)		(1,943	)		(1,371	)		(1,240,974	)

Other Income (Expense):
Interest income (expense), net		14,475			1			(40	)		14,436
Gain on bargain purchase		61,747			–			–			61,747
Unrealized loss on marketable equity securities		32,570			–			–			32,570
Realized loss on marketable equity securities		(14,901	)		–			–			(14,901	)
Rental income		39,952			–			–			39,952
Other income (expense), net		(5,008	)		108			(2,173	)		(7,073	)
Total other income (expense)		128,835			109			(2,213	)		126,731

Loss before income taxes		(1,108,825	)		(1,834	)		(3,585	)		(1,114,243	)

Tax expense		–			–			–			–

Net Loss	$	(1,108,825	)	$	(1,834	)	$	(3,585	)	$	(1,114,243	)

Segment Reporting
	Three Months Ended March 31, 2022
	Corporate and R&D			IoT Products			IoT Installation Services			Total

Revenue	$	–		$	40,500		$	85,125		$	125,625
Revenue – related party		–			31,542			–			31,542
Total revenue		–			72,042			85,125			157,167

Cost of revenue		–			59,409			84,114			143,523

Gross Profit		–			12,633			1,011			13,644

Operating Expenses
Selling expense		–			34,001			4,338			38,339
Compensation – officers and directors		325,665			–			–			325,665
Research and development		561,744			–			–			561,744
Professional fees		360,866			–			–			360,866
General and administrative		261,189			333,907			55,795			650,891
Total Cost and Operating Expenses		1,509,464			367,908			60,133			1,937,505

Loss from Operations		(1,509,464	)		(355,275	)		(59,122	)		(1,923,861	)

Other Income (Expense):
Interest income (expense), net		282			(288	)		–			(6	)
Gain on bargain purchase		–			–			–			–
Unrealized loss on marketable equity securities		–			–			–			–
Realized loss on marketable equity securities		–			–			–			–
Rental income		46,372			–			–			46,372
Other income (expense), net		11,029			–			(2,464	)		8,565
Total other income (expense)		57,683			(288	)		(2,464	)		54,931

Loss before income taxes		(1,451,781	)		(355,563	)		(61,586	)		(1,868,930	)

Tax expense		–			–			–			–

Net Loss	$	(1,451,781	)	$	(355,563	)	$	(61,586	)	$	(1,868,930	)