Segment Reporting

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Reporting

Note 12 – Segment Reporting

ASC Topic 280, "Segment Reporting," requires use of the "management approach" model for segment reporting. The management approach model is based on the way a company's management organizes segments within the company for making operating decisions and assessing performance. The Company has two reportable segments: Optron and Overhoff. Optron is located in Canoga Park, California and Overhoff is located in Milford, Ohio. The assets and operations of the Company's recent acquisition of the assets of Electronic Control Concepts are included with Overhoff in the table below.

The following tables summarize the Company's segment information for the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Sales
Optron	$	72,619		$	377,775		$	1,132,364		$	850,360
Overhoff		586,706			767,705			1,686,537			1,856,425
Corporate		-			-			-			-
	$	659,325		$	1,145,480		$	2,818,901		$	2,706,785
Gross profit
Optron	$	33,102		$	171,694		$	619,597		$	394,668
Overhoff		289,341			340,402			806,696			882,511
Corporate		-			-			-			-
	$	322,443		$	512,096		$	1,426,293		$	1,277,179
Income (loss) from operations
Optron	$	(160,601	)	$	38,444		$	81,650		$	17,118
Overhoff		112,012			161,032			246,747			346,128
Corporate		(1,358,214	)		(1,606,065	)		(2,376,892	)		(2,715,446	)
	$	(1,406,803	)	$	(1,406,589	)	$	(2,048,495	)	$	(2,352,200	)
Interest Expenses
Optron	$	2,724		$	5,285		$	13,460		$	17,605
Overhoff		-			485			49			1,949
Corporate		379			2,356			1,340			2,356
	$	3,103		$	8,126		$	14,849		$	21,910
Net income (loss)
Optron	$	(157,325	)	$	33,159		$	86,190		$	(487	)
Overhoff		103,012			160,547			219,698			344,179
Corporate		(1,355,593	)		(1,608,421	)		(2,369,232	)		(2,717,802	)
	$	(1,409,906	)	$	(1,414,715	)	$	(2,063,344	)	$	(2,374,110	)

	As of		As of
	September 30,		December 31,
	2019		2018
Total Assets
Optron	$	1,454,897	$	1,324,707
Overhoff		1,940,046		1,811,483
Corporate		453,013		199,741
	$	3,847,956	$	3,335,931
Goodwill
Optron	$	-	$	-
Overhoff		570,176		570,176
Corporate		-		-
	$	570,176	$	570,176