REVENUE

3 Months Ended

Mar. 31, 2025

REVENUE

REVENUE

NOTE 9 – REVENUE

The following table shows disaggregated net revenue from contracts with customers by product or service line and geographic area for the period ended March 31, 2025 and 2024:

	Three months ended
	March 31,		March 31,
	2025		2024
Revenue by product or service line:
Trading of industrial chemicals		2,134,007		2,378,686
Screening services and related sales		3,068		3,165
Net revenue	$	2,137,075	$	2,381,851
Revenue by geographic area
Bangladesh		-		147,287
Malaysia		1,747,528		1,807,110
Maldives		181,073		227,349
Singapore		34,223		70,233
Sri Lanka		146,099		116,164
Batam		28,152		13,708
Net revenue	$	2,137,075	$	2,381,851
Timing of recognition:
At a point in time	$	2,137,075	$	2,381,851

Revenue is derived from the sale of industrial chemicals and the provision of genomic screening services. Revenue from the sale of goods is recognized at a point in time when control of the goods is transferred to the customer. Credit terms are generally from 30 to 90 days. The Company allows returns only for exchanges with new goods. No warranties are given on the sale of goods.

Revenue from services is recognized at a point in time when the final report is delivered to the customer. Credit terms for these services are generally from 30 days to 60 days. No warranties are given on the services rendered.

In applying ASC 606, the Company does not exercise significant judgment in determining whether revenue from the sale of goods and services should be recognized at a point in time. The criteria for recognizing revenue at a point in time, such as the transfer of control of goods or completion of services, are clear and are based on established contract terms. Therefore, no significant judgment is required in determining the timing of revenue recognition.