Segment Reporting

6 Months Ended

Jun. 30, 2018

In accordance with FASB ASC 280, “Segment Reporting” ("ASC 280"), the Company discloses financial and descriptive information about its reportable operating segments. Operating segments are components of an enterprise about which separate financial information is available and regularly evaluated by the Company in deciding how to allocate resources and in assessing performance.

The Company follows ASC 280, which establishes standards for reporting information about operating segments in annual and interim financial statements and requires that companies report financial and descriptive information about their reportable segments based on a management approach. ASC 280 also establishes standards for related disclosures about products and services, geographic areas and major customers. The Company currently divides its operations into two operating segments: DropCar, Inc. which delivers it VAL platform and mobile application; and WPCS which specializes in the installation and service of low voltage communications.

The accounting policies of each of the segments are the same as those described in the Summary of Significant Accounting Policies. The Company evaluates performance based on revenue, gross profit contribution and assets employed. Corporate level operating costs are allocated to each segment in which they are incurred. These costs include corporate costs such as legal, audit, tax and other professional fees including those related to being a public company.

	As of and For the Six Months Ended June 30,
	2018			2017
DropCar Operating
Net Sales	$	3,566,072		$	1,527,853
Gross Profit (Loss)		(1,258,490	)		84,732
Net (Loss)		(7,814,634	)		(2,185,505	)
Assets		900,233			1,490,389

WPCS
Net Sales		7,648,849			-
Gross Profit		1,721,170			-
Net Income		460,943			-
Assets		13,975,295			-

Consolidated
Net Sales	$	11,214,921		$	1,527,853
Gross Profit		462,680			84,732
Net (Loss)		(7,353,691	)		(2,185,505	)
Assets		14,875,528			1,490,389