SEGMENT INFORMATION

9 Months Ended

Sep. 30, 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 September 30, 2025 and 2024:

	Three Months Ended September 30,
	2025						2024
	Consumer		Commercial		Consolidated		Consumer		Commercial		Consolidated
Sales	$	45,068,036	$	12,321,375	$	57,389,411	$	33,756,600	$	13,142,959	$	46,899,559
Cost of goods sold		39,866,966		4,454,515		44,321,481		29,840,285		5,595,035		35,435,320
Selling, general and administrative		3,827,882		4,565,996		8,393,878		3,925,981		5,103,007		9,028,988
Depreciation and amortization		203,349		269,175		472,524		150,657		264,122		414,779
Operating income (loss)	$	1,169,839	$	3,031,689	$	4,201,528	$	(160,323)	$	2,180,795	$	2,020,472

The following table depicts the reconciliation of the Company’s segment operating income to income before income taxes for the three months ended September 30, 2025 and 2024:

	Three Months Ended September 30,
	2025						2024
	Consumer		Commercial		Consolidated		Consumer		Commercial		Consolidated
Operating income (loss)	$	1,169,839	$	3,031,689	$	4,201,528	$	(160,323)	$	2,180,795	$	2,020,472
Other income		104,863		128,779		233,642		62,502		277,849		340,351
Interest expense		(53,429)		(52,328)		(105,757)		(51,486)		(54,653)		(106,139)
Income (loss) before income taxes	$	1,221,273	$	3,108,140	$	4,329,413	$	(149,307)	$	2,403,991	$	2,254,684

The following table depicts the Company’s segment results of operations, including significant expenses that are regularly reviewed by the CODM, for the nine months ended September 30, 2025 and 2024:

	Nine Months Ended September 30,
	2025						2024
	Consumer		Commercial		Consolidated		Consumer		Commercial		Consolidated
Sales	$	125,012,398	$	35,509,675	$	160,522,073	$	93,972,645	$	38,081,696	$	132,054,341
Cost of goods sold		110,942,439		12,155,757		123,098,196		82,485,812		16,394,149		98,879,961
Selling, general and administrative		11,451,215		14,018,992		25,470,207		11,186,939		14,597,073		25,784,012
Depreciation and amortization		579,585		798,691		1,378,276		356,851		763,760		1,120,611
Operating income (loss)	$	2,039,159	$	8,536,235	$	10,575,394	$	(56,957)	$	6,326,714	$	6,269,757

The following table depicts the reconciliation of the Company’s segment operating income to income before income taxes for the nine months ended September 30, 2025 and 2024:

	Nine Months Ended September 30,
	2025						2024
	Consumer		Commercial		Consolidated		Consumer		Commercial		Consolidated
Operating income (loss)	$	2,039,159	$	8,536,235	$	10,575,394	$	(56,957)	$	6,326,714	$	6,269,757
Other income		261,870		571,628		833,498		78,510		725,786		804,296
Interest expense		(161,469)		(156,837)		(318,306)		(171,584)		(164,550)		(336,134)
Income (loss) before income taxes	$	2,139,560	$	8,951,026	$	11,090,586	$	(150,031)	$	6,887,950	$	6,737,919

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 September 30, 2025 and 2024:

	Three Months Ended September 30,
	2025		2024
Consumer	$	127,585	$	1,990,966
Commercial		49,158		—
Corporate		29,220		4,732
	$	205,963	$	1,995,698

The following table depicts Capital Expenditures for the nine months ended September 30, 2025 and 2024:

	Nine Months Ended September 30,
	2025		2024
Consumer	$	688,059	$	2,695,590
Commercial		101,429		108,222
Corporate		298,634		453,905
	$	1,088,122	$	3,257,717

The following table depicts the Company’s total assets:

	As of
	September 30, 2025		December 31, 2024
Consumer	$	45,296,981	$	40,454,328
Commercial		21,265,661		33,068,887
Corporate		24,377,826		4,347,274
	$	90,940,468	$	77,870,489