Annual report pursuant to Section 13 and 15(d)

Segment Reporting

v3.22.1
Segment Reporting
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 14 – SEGMENT REPORTING

 

During the year ended December 31, 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 year ended December 31, 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 years ended December 31, 2021 and 2020 was as follows: 

 

    For the Year Ended
December 31,		  
    2021     2020  
          (As Restated)  
Revenues:            
C-Bond     $ 434,811     $ 555,863  
Mobile Tint       1,042,017      
-
  
      1,476,828       555,863  
Depreciation and amortization:                  
C-Bond       9,889       14,093  
Mobile Tint       36,078      
-
  
      45,967       14,093  
Interest expense:                  
C-Bond       1,372       402  
Mobile Tint       3,354      
-
  
Other (a)       278,233       750,782  
      282,959       751,184  
Net (loss) income:                  
C-Bond       (2,001,725 )     (2,393,269 )
Mobile Tint       77,626      
-
  
Other (a)       (5,204,759 )     (2,041,174 )
    $ (7,128,858 )   $ (4,434,443 )

 

    December 31,
2021		     December 31,
2020		  
Identifiable long-lived tangible assets on December 31, 2021 and 2020 by segment            
C-Bond   $ 8,794     $ 18,683  
Mobile Tint     126,228      
-
  
    $ 135,022     $ 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.