SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2025

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 9 — 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 three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
	2025						2024
	Consumer		Commercial		Consolidated		Consumer		Commercial		Consolidated
Sales	$	36,770,604	$	11,485,225	$	48,255,829	$	28,226,017	$	11,631,763	$	39,857,780
Cost of goods sold		32,559,701		3,728,104		36,287,805		24,676,828		4,860,268		29,537,096
Selling, general and administrative		3,887,906		4,516,356		8,404,262		3,251,490		4,385,486		7,636,976
Depreciation and amortization		180,632		264,709		445,341		93,676		249,889		343,565
Operating income	$	142,365	$	2,976,056	$	3,118,421	$	204,023	$	2,136,120	$	2,340,143

The following table depicts the reconciliation of the Company’s segment operating income to income before income taxes for the three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
	2025						2024
	Consumer		Commercial		Consolidated		Consumer		Commercial		Consolidated
Operating income	$	142,365	$	2,976,056	$	3,118,421	$	204,023	$	2,136,120	$	2,340,143
Other income		849		204,756		205,605		8,005		230,523		238,528
Interest expense		(54,047)		(52,274)		(106,321)		(64,401)		(56,453)		(120,854)
Income before income taxes	$	89,167	$	3,128,538	$	3,217,705	$	147,627	$	2,310,190	$	2,457,817

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 three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
	2025		2024
Consumer	$	268,953	$	217,179
Commercial		—		49,443
Corporate		116,034		374,787
	$	384,987	$	641,409

The following table depicts the Company’s total assets:

	As of
	March 31, 2025		December 31, 2024
Consumer	$	41,000,003	$	40,454,328
Commercial		33,647,370		33,068,887
Corporate		5,016,954		4,347,274
	$	79,664,327	$	77,870,489