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

NOTE 14 - SEGMENT REPORTING

FASB Codification Topic 280, Segment Reporting, establishes standards for reporting financial and descriptive information about an enterprise’s reportable segments. The Company has two reportable segments: the design, manufacture, assembly and distribution of disinfecting systems for use in healthcare, hospitality, and commercial municipal and residential markets (disinfectant segment) and the manufacture of fine mirrors specifically for the hospitality industry (hospitality segment). The segments are determined based on several factors, including the nature of products and services, the nature of production processes, customer base, delivery channels and similar economic characteristics.

An operating segment’s performance is evaluated based on its pre-tax operating contribution, or segment income. Segment income is defined as net sales less cost of sales, segment selling, general and administrative expenses, research and development costs and stock-based compensation. It does not include other charges (income), net and interest and other, net.

SEGMENT REPORTING                    
   Hospitality  Disinfectant  Corporate  Total
Balance sheet at December 31, 2021                    
Assets  $2,158,789   $27,851,691   $8,515,512   $38,525,992 
Liabilities  $2,481,186   $1,528,706   $1,850,366   $5,860,233 

Balance sheet at December 31, 2020

                    
Assets  $12,655,779   $463,042   $—    $13,118,821 
Liabilities  $2,721,396   $642,669   $—    $3,364,065 

 

   Hospitality  Disinfectant  Corporate  Total
Income Statement for the year ended December 31, 2021                    
Net Sales  $5,943,664   $5,723,915   $—    $11,667,579 
Cost of Goods Sold  $4,488,652   $3,080,541   $—    $7,569,193 
Research and development  $—    $53,408   $—    $53,408 
Selling, General and Administrative expenses  $2,281,460   $6,110,206   $2,950,046   $11,341,712 

 

   Hospitality  Disinfectant  Corporate  Total
Income Statement for the year ended December 31, 2020                    
Net Sales  $5,732,734   $—    $—    $5,732,734 
Cost of Goods Sold  $4,723,398   $—    $—    $4,723,398 
Research and development  $—    $310,672   $—    $310,672 
Selling, General and Administrative expenses  $1,749,962   $770,512   $1,491,082   $4,011,556