SEGMENTING REPORTING (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

SCHEDULE OF BUSINESS SEGMENTS

Segment information available with respect to these reportable business segments for the three and nine months ended September 30, 2024 and 2023 was as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2024			2023			2024			2023
Revenues:
Inventory Management Solutions	$	6,056,046		$	20,732,505		$	19,298,336		$	53,545,749
Corrugated		1,616,349			2,602,083			5,010,892			6,225,707
Total segment and consolidated revenues	$	7,672,395		$	23,334,588		$	24,309,228		$	59,771,456
Cost of revenues:
Inventory Management Solutions	$	4,451,183		$	18,880,548		$	14,980,680		$	48,339,198
Corrugated		1,174,341			1,706,736			3,618,104			4,335,968
Total segment and consolidated cost of revenues	$	5,625,524		$	20,587,284		$	18,598,784		$	52,675,166
Gross profit:
Inventory Management Solutions	$	1,604,863		$	1,851,957		$	4,317,656		$	5,206,551
Corrugated		442,008			895,347			1,392,788			1,889,739
Total segment and consolidated gross profit	$	2,046,871		$	2,747,304		$	5,710,444		$	7,096,290
Income (loss) from operations:
Inventory Management Solutions	$	(501,498	)	$	(254,543	)	$	(2,130,509	)	$	(1,272,307	)
Corrugated		83,610			511,953			361,101			757,272
Corporate		(1,258,432	)		(944,953	)		(4,581,357	)		(6,466,943	)
Total segment and consolidated income (loss) from operations	$	(1,676,320	)	$	(687,543	)	$	(6,350,765	)	$	(6,981,978	)
Depreciation and amortization:
Inventory Management Solutions	$	574,642		$	574,643		$	1,793,538		$	1,735,389
Corrugated		37,992			49,495			125,481			148,488
Total segment and consolidated depreciation and amortization	$	612,634		$	624,138		$	1,919,019		$	1,883,877
Revenues by geography:
North America	$	3,019,930		$	4,183,248		$	9,688,102		$	11,243,620
Europe		4,652,465			19,151,340			14,621,126			48,527,836
Total geography and consolidated revenues	$	7,672,395		$	23,334,588		$	24,309,228		$	59,771,456
Segment capital expenditures:
Inventory Management Solutions							$	-		$	-
Corrugated								47,685			114,312
Corporate								-			-
Total segment and consolidated capital expenditures							$	47,685		$	114,312
Segment total assets:
Inventory Management Solutions							$	44,285,657		$	51,785,923
Corrugated								1,981,626			3,009,631
Corporate								2,972,168			5,490,894
Total segment and consolidated assets							$	49,239,979		$	60,286,448