Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.23.1
Segment Reporting
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 12 – SEGMENT REPORTING

 

During the three months ended March 31, 2023 and 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, 2023 and 2022 was as follows: 

 

    For the Three Months Ended
March 31,		  
    2023     2022  
Revenues:            
C-Bond   $ 93,206     $ 99,169  
Mobile Tint     422,014       411,540  
      515,220       510,709  
Depreciation and amortization:                
C-Bond     437       2,294  
Mobile Tint     20,413       20,616  
      20,850       22,910  
Interest expense:                
C-Bond    
-
      
-
  
Mobile Tint     5,143       3,714  
Other (a)     194,342       244,866  
      199,485       248,580  
Net (loss):                
C-Bond     (275,376 )     (285,722 )
Mobile Tint     (83,612 )     (65,102 )
Other (a)     (364,099 )     (1,568,595 )
    $ (723,087 )   $ (1,919,419 )

 

    March 31,
2023		     December 31,
2022		  
Identifiable long-lived tangible assets on March 31, 2023 and December 31, 2022 by segment:            
C-Bond   $ 1,247     $ 1,684  
Mobile Tint     86,835       94,622  
    $ 88,082     $ 96,306  

 

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