General form of registration statement for all companies including face-amount certificate companies

Segment Reporting

v3.21.2
Segment Reporting
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 12 – SEGMENT REPORTING

 

During the nine months ended September 30, 2020, the Company operated in one reportable business segment, which consisted of the manufacture and sale of a windshield strengthening water repellent solution as well as a disinfection product, and the sale of multi-purpose glass strengthening primer and window film mounting solutions, including ballistic-resistant film systems and a forced entry system (the “C-Bond Segment”). During the nine months ended September 30, 2021, the Company operated in two reportable business segments - (1) the manufacture and sale of a windshield strengthening water repellent solution as well as a disinfection product, and the sale of multi-purpose glass strengthening primer and window film mounting solutions, including ballistic-resistant film systems and a forced entry system (the “C-Bond Segment”), and (2) the distribution and installation of window film solutions (the “Mobile Tint Segment”). The Company’s reportable segments were strategic business units that offered different products. They were managed separately based on the fundamental differences in their operations and locations.

 

Information with respect to these reportable business segments for the three and nine months ended September 30, 2021 and 2020 was as follows:

 

    For the Three Months Ended
September 30,		     For the Nine Months Ended
September 30,		  
Revenues:                        
C-Bond   $ 80,878     $ 252,940     $ 370,198     $ 356,770  
Mobile Tint     593,640      
-
       593,640      
-
  
      674,518       252,940       963,838       356,770  
Depreciation and amortization:                                
C-Bond     2,472       2,655       7,417       11,141  
Mobile Tint     26,461      
-
       26,461      
-
  
      28,933       2,655       33,878       11,141  
Interest expense:                                
C-Bond    
-
       34       1,372       307  
Mobile Tint     1,253      
-
       1,253      
-
  
Other (a)     28,647       274,932       70,824       732,240  
      29,900       274,966       73,449       732,547  
Net (loss) income:                                
C-Bond     (325,016 )     (478,924 )     (1,304,798 )     (1,846,709  
Mobile Tint     170,753      
-
       170,753      
-
  
Other (a)     (336,514 )     959,320       (4,799,730 )     (773,043 )
    $ (490,777 )   $ 480,396     $ (5,933,775 )   $ (2,619,752 )

 

    September 30,
2021		     December 31,
2020		  
Identifiable long-lived tangible assets on September 30, 2021 and December 31, 2020 by segment            
C-Bond   $ 11,266     $ 18,683  
Mobile Tint     134,404      
-
  
    $ 145,670     $ 18,683  

 

(a) The Company does not allocate any general and administrative expense of its holding company activities to its reportable segments, because these activities are managed at the corporate level.