SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2024

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 10 — SEGMENT INFORMATION

The CODM uses operating income to evaluate the performance of the overall business, make investing decisions, and allocate resources. The following table depicts the Company’s segment results of operations, including significant expenses that are regularly reviewed by the CODM, for the years ended December 31, 2024 and 2023:

	Year Ended December 31,
	2024						2023
	Consumer		Commercial		Consolidated		Consumer		Commercial		Consolidated
Sales	$	130,469,468	$	49,906,761	$	180,376,229	$	129,413,669	$	45,850,157	$	175,263,826
Cost of goods sold		114,587,598		21,472,844		136,060,442		113,765,111		19,842,185		133,607,296
Selling, general and administrative		15,211,970		19,393,162		34,605,132		10,640,840		20,896,837		31,537,677
Depreciation and amortization		524,510		1,027,264		1,551,774		325,227		1,036,837		1,362,064
Operating income	$	145,390	$	8,013,491	$	8,158,881	$	4,682,491	$	4,074,298	$	8,756,789

The following table depicts a reconciliation from segment operating income to income before income taxes for the years ended December 31, 2024 and 2023:

	Year Ended December 31,
	2024						2023
	Consumer		Commercial		Consolidated		Consumer		Commercial		Consolidated
Operating income	$	145,390	$	8,013,491	$	8,158,881	$	4,682,491	$	4,074,298	$	8,756,789
Other income		104,561		933,121		1,037,682		83,806		643,976		727,782
Interest expense		(228,792)		(218,591)		(447,383)		(192,393)		(270,808)		(463,201)
Income before income taxes	$	21,159	$	8,728,021	$	8,749,180	$	4,573,904	$	4,447,466	$	9,021,370

Other significant segment items that are regularly reviewed by the CODM are capital expenditures, which the Company defines as any purchases of property and equipment or intangible assets. The following table depicts capital expenditures for the years ended December 31, 2024 and 2023:

	Year Ended December 31,
	2024		2023
Consumer	$	3,159,705	$	1,856,490
Commercial		144,419		194,575
Corporate		454,280		187,046
	$	3,758,404	$	2,238,111

The following table depicts the Company’s total assets:

	As of
	December 31, 2024		December 31, 2023
Consumer	$	40,454,328	$	35,839,361
Commercial		33,068,887		33,777,041
Corporate		4,347,274		3,857,827
	$	77,870,489	$	73,474,229