Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.22.1
Segment Reporting
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 12 – SEGMENT REPORTING

 

During the three months ended March 31, 2021, 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 three months ended March 31, 2022, 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 months ended March 31, 2022 and 2021 was as follows: 

 

    For the Three
Months Ended
March 31,		  
    2022     2021  
Revenues:            
C-Bond   $ 99,169     $ 155,650  
Mobile Tint     411,540      
-
  
      510,709       155,650  
Depreciation and amortization:                
C-Bond     2,294       2,472  
Mobile Tint     20,616      
-
  
      22,910       2,472  
Interest expense:                
C-Bond    
-
       236  
Mobile Tint     3,714      
-
  
Other (a)     244,866       18,139  
      248,580       18,375  
Net loss:                
C-Bond     (285,722 )     (755,317 )
Mobile Tint     (65,102 )    
-
  
Other (a)     (1,568,595 )     (4,108,656 )
    $ (1,919,419 )   $ (4,863,973 )

 

    March 31,
2022		     December 31,
2021		  
Identifiable long-lived tangible assets on March 31, 2022 and December 31, 2021 by segment            
C-Bond   $ 6,501     $ 8,794  
Mobile Tint     118,237       126,228  
    $ 124,738     $ 135,022  

 

(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.