Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.22.2.2
Segment Reporting
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 12 – SEGMENT REPORTING

 

During the six months ended June 30, 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 six months ended June 30, 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 and six months ended June 30, 2022 and 2021 was as follows: 

 

    For the Three Months Ended
June 30,		     For the Six Months Ended
June 30,		  
    2022     2021     2022     2021  
Revenues:                        
C-Bond   $ 78,805     $ 133,670     $ 177,974     $ 289,320  
Mobile Tint     461,562      
-
       873,102      
-
  
      540,367       133,670       1,051,076       289,320  
Depreciation and amortization:                                
C-Bond     2,138       2,472       4,432       4,944  
Mobile Tint     20,617      
-
       41,233      
-
  
      22,755       2,472       45,665       4,944  
Interest expense:                                
C-Bond    
-
       1,136      
-
       1,372  
Mobile Tint     4,942      
-
       8,656      
-
  
Other (a)     358,596       24,038       603,462       42,177  
      363,538       25,174       612,118       43,549  
Net (loss):                                
C-Bond     (242,893 )     (224,465 )     (528,615 )     (979,782 )
Mobile Tint     (50,326 )    
-
       (115,428 )    
-
  
Other (a)     (716,133 )     (354,560 )     (2,284,728 )     (4,463,216 )
    $ (1,009,352 )   $ (579,025 )   $ (2,928,771 )   $ (5,442,998 )

 

    June 30,
2022		     December  31,
2021		  
Identifiable long-lived tangible assets on June 30, 2022 and December 31, 2021 by segment            
C-Bond   $ 4,362     $ 8,794  
Mobile Tint     110,247       126,228  
    $ 114,609     $ 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.