Quarterly report pursuant to Section 13 or 15(d)

15. Segment Reporting

v3.19.2
15. Segment Reporting
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Segment Reporting

Note 14 – Segment reporting

 

The Company’s operation consists of two separate types of operations. Focus Universal, Inc. and Perfecular Inc. (“Focus”) main business operation involves wholesale, research and development of universal smart instrument and farming devices. AVX Design & Integration, Inc. (“AVX”) is an IoT installation and management company specializes high performance, easy to use Audio/Video, Home Theater, Lighting Control, Automation and Integration. Table below discloses income statements segment reporting of the separate business models.

 

    Focus   AVX   Total
             
Revenue   $ 208,838     $ 451,237     $ 660,075  
Revenue - related party     3,000       –         3,000  
Total revenue     211,838       451,237       663,075  
                         
Cost of Revenue     174,822       229,258       404,080  
                         
Gross Profit     37,016       221,979       258,995  
                         
Operation Expenses:                        
Selling     –         89,666       89,666  
Compensation - officers     60,000       1,675       61,675  
Research and development     126,720       –         126,720  
Professional fees     567,535       4,604       572,139  
General and administrative     291,272       57,895       349,170  
Total Operating Expenses     1,045,530       153,840       1,199,370  
                         
Loss from Operations     (1,008,514 )     68,139       (940,375 )
                         
Other Income (Expense)                        
Interest income (expense), net     1,068       –         1,068  
Other income     1,980       –         1,980  
Total other expense     3,048       –         3,048  
                         
Loss before income taxes     (1,005,466 )     68,139       (937,327 )
                         
Tax expense     –         –         –    
                         
Net Loss   $ (1,005,466 )   $ 68,139     $ (937,327 )