Information on Business Segments

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Information on Business Segments

8) Information on Business Segments

We organize our business segments based on the nature of the products and services offered. Operating segments are defined as the components of as business which separate financial information is available. In the following tables of financial data, the total of the operating results of these business segments is reconciled, as appropriate, to the corresponding consolidated amount. There are some corporate expenses that were not allocated to the business segments, and these expenses are contained in the “Operating expenses” under Parent. Management has determined to report under the following segments:

- Corporate – for shared expenses between the other reportable segments

- Pressure Biosciences reported as “Industrial

- Uncle Buds reported as “Consumer”

The Company’s reportable segments information is as follows:

	For the three months ended March 31, 2024												For the three months ended March 31, 2023
	Parent			Industrial			Consumer			Totals			Parent			Industrial		Consumer		Totals
Revenue	$	12,804		$	182,665		$	153,788		$	349,257		$	-		$	740,600	$	-	$	740,600
Less direct cost of revenue		-			155,779			77,531			233,310			-			358,628		-		358,628
Gross Margin		12,804			26,886			76,257			115,947			-			381,972		-		381,972
Operating expenses		716,658			347,597			536,250			1,600,505			3,740,030			279,687		-		4,019,717
(Net loss) from operations		(703,854	)		(320,711	)		(459,993	)		(1,484,558	)		(3,740,030	)		102,285		-		(3,637,745	)
Non-operating income (expenses)		(6,589,865	)		-			-			(6,589,865	)		(3,220,089	)		-		-		(3,220,089	)
Preferred dividends		(632,053	)		-			-			(632,053	)		(431,807	)		-		-		(431,807	)
Net (loss)	$	(7,925,772	)	$	(320,711	)	$	(459,993	)	$	(8,706,476	)	$	(7,391,926	)	$	102,285	$	-	$	(7,289,641	)
	As of March 31, 2024												As of December 31, 2023
Segment Assets	$	1,521,896		$	385,457		$	5,084,176		$	6,991,529		$	1,049,676		$	-	$	-	$	1,049,676

Our Industrial segment contains the UST, BaroFold and PCT Platforms. Our Consumer segment represents the activity in our recent purchase of Uncle Bud’s. Uncle Bud’s offer products direct-to-consumer on-line and through major retailers.