Information on Business Segments

6 Months Ended

Jun. 30, 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 six months ended June 30, 2024												For the six months ended June 30, 2023
	Parent			Industrial			Consumer			Totals			Parent			Industrial			Consumer		Totals
Revenue	$	23,404		$	335,007		$	412,638		$	771,049		$	-		$	1,252,403		$	-	$	1,252,403
Less direct cost of revenue		-			277,570			333,281			610,851			-			615,227			-		615,227
Gross Margin		23,404			57,437			79,357			160,198			-			637,176			-		637,176
Operating expenses		1,239,586			1,517,292			816,418			3,573,296			4,260,321			1,096,121			-		5,356,442
(Net loss) from operations		(1,216,182	)		(1,459,855	)		(737,061	)		(3,413,098	)		(4,260,321	)		(458,945	)		-		(4,719,266	)
Non-operating income (expenses)		(11,777,806	)		-			-			(11,777,806	)		(9,061,271	)		-			-		(9,061,271	)
Deemed dividends		-			-			-			-			(3,626,950	)		-			-		(3,626,950	)
Preferred dividends		(1,264,106	)		-			-			(1,264,106	)		(997,079	)		-			-		(997,079	)
Net Loss	$	(14,258,094	)	$	(1,459,855	)	$	(737,061	)	$	(16,455,010	)	$	(17,945,621	)	$	(458,945	)	$	-	$	(18,404,566	)

	As of June 30, 2024								As of December 31, 2023
Segment Assets	$	935,351	$	725,909	$	5,287,396	$	6,948,656	$	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.