SEGMENTS AND SIGNIFICANT CONCENTRATIONS

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

SEGMENTS AND SIGNIFICANT CONCENTRATIONS

17. SEGMENTS AND SIGNIFICANT CONCENTRATIONS

The Company operates in two segments:

(a)  Energy and water conservation products (as shown under the column heading “EWCP” below), which consists of a (i) liquid swimming pool blankets which save energy and water by inhibiting evaporation from the pool surface, and (ii) food-safe powdered form of the active ingredient within the liquid blankets and which are designed to be used in still or slow moving drinking water sources.

(b)  Biodegradable polymers, also known as TPA’s (as shown under the column heading “BCPA” below), used by the petroleum, chemical, utility and mining industries to prevent corrosion and scaling in water piping. This product can also be used in detergents to increase biodegradability and in agriculture to increase crop yields by enhancing fertilizer uptake.

The third product line is nitrogen conservation products used for the agriculture industry. These products decrease the loss of nitrogen fertilizer after initial application and allows less fertilizer to be used. These products are made and sold by the Company’s TPA division.

The Company also manufactures food grade products that are made and sold by the TPA division.

The Company’s reportable segments are strategic business units that offer different, but synergistic products and services. They are managed separately because each business requires different technology and marketing strategies. The economic factors that impact the nature, amount, timing, and uncertainty of revenue and cash flows vary among the Company’s operating segments and the geographical regions in which they operate. This operating segment structure is used by the Chief Operating Decision Maker (“CODM”), who has been determined to be the Chief Executive Officer, to make key operating decisions and assess performance of the Company. The CODM evaluates segment operating performance, and makes resource allocation and performance evaluation decisions, based on gross profit and net operating income.

Year ended December 31, 2025:

	EWCP			BCPA			Other (1)			Consolidated
Product sales	$	388,713		$	35,626,345		$	-		$	36,015,058
Research and development sales		-			2,500,000			-			2,500,000
Cost of sales		145,114			25,830,616			-			25,975,730
Gross profit		243,599			12,295,729			-			12,539,328
Wages, administrative salaries and benefits		105,117			3,735,296			-			3,840,413
Selling, general, and administrative		172,391			3,245,347			224,870			3,642,608
Other segment items (2)		18,000			(38,552	)		475,805			455,253
Net operating income (loss)		(51,909	)		5,353,638			(700,675	)		4,601,054
Interest expense		-			613,852			-			613,852
Depreciation and amortization (included in cost of sales)		13,608			1,952,080			-			1,965,688
Capital expenditures		-			4,373,903			-			4,373,903
Assets at December 31, 2025 (3)		2,097,454			58,533,323			1,201,602			61,832,379

Year ended December 31, 2024:

	EWCP		BPCA		Other (1)			Consolidated
Product sales	$	759,549	$	37,475,311	$	-		$	38,234,860
Research and development sales		-		-		-			-
Cost of sales		350,345		24,644,616		-			24,994,961
Gross profit		409,204		12,830,695		-			13,239,899
Wages, administrative salaries and benefits		90,043		3,653,182		-			3,743,225
Selling, general, and administrative		122,758		2,529,736		200,435			2,852,929
Other segment items (2)		23,930		884,564		219,845			1,128,339
Net operating income (loss)		172,473		5,763,213		(420,280	)		5,515,406
Interest expense		309		609,956		-			610,265
Depreciation and amortization (included in cost of sales)		15,298		1,942,178		-			1,957,476
Capital expenditures		-		4,964,736		-			4,964,736
Assets at December 31, 2024 (3)		2,588,731		56,415,104		964,744			59,968,579

(1)	Other is not considered an operating segment and includes expenses and income not identifiable to an operating segment and is not included in operating segment results
(2)	Other segment items for each reportable segment includes professional fees and research and development.
(3)	Segment assets include cash, term deposits, accounts receivable, inventory, prepaid expenses, property held for sale, property, equipment and leaseholds, right of use assets, intangible assets, long-term deposits, investments and goodwill.

Sales by territory are shown below:

	2025		2024
Canada	$	820,935	$	400,693
United States and abroad		37,694,123		37,834,167
Total	$	38,515,058	$	38,234,860

The Company’s long-lived assets (property, equipment, leaseholds, right of use assets, intangibles, and goodwill) are located in Canada and the United States as follows:

	2025		2024
Canada	$	108,423	$	116,496
United States and abroad		24,318,631		21,683,963
Total	$	24,427,054	$	21,800,459

Three customers accounted for $18,055,599 (50%) of sales made in 2025 (2024 - $20,779,311 or 54%).