SEGMENT REPORTING

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 11 - 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.

	Hospitality		Disinfectant		Corporate		Total
Balance sheet at September 30, 2023
Assets	$	12,041,295	$	58,169,140	$	1,380,197	$	71,590,632
Liabilities	$	10,731,810	$	29,656,765	$	8,446,856	$	48,835,431
Balance sheet at December 31, 2022
Assets	$	9,638,828	$	19,831,097	$	3,257,502	$	32,727,427
Liabilities	$	10,666,643	$	1,545,217	$	3,281,672	$	15,493,532

	Hospitality		Disinfectant		Corporate		Total
Income Statement for the three months ended September 30, 2023:
Net Sales	$	5,715,354	$	5,730,694	$	—	$	11,446,048
Cost of Goods Sold	$	4,454,534	$	4,336,230	$	—	$	8,790,764
Research and development	$	—	$	91,085	$	—	$	91,085
Stock based compensation	$	57,821	$	34,188	$	139,845	$	231,854
Selling, General and Administrative Expenses	$	1,123,073	$	3,130,810	$	528,251	$	4,782,134
Income Statement for the three months ended September 30, 2022:
Net Sales	$	4,282,030	$	1,593,581	$	—	$	5,875,611
Cost of Goods Sold	$	4,117,717	$	919,280	$	—	$	5,036,997
Research and development	$	—	$	93,522	$	—	$	93,522
Stock based compensation	$	30,149	$	37,800	$	44,502	$	112,451
Selling, General and Administrative Expenses	$	929,992	$	1,893,211	$	522,364	$	3,345,567
Income Statement for the nine months ended September 30, 2023:
Net Sales	$	16,944,409	$	15,999,808	$	—	$	32,944,217
Cost of Goods Sold	$	13,895,604	$	12,061,249	$	—	$	25,956,853
Research and development	$	—	$	460,588	$	—	$	460,588
Stock based compensation	$	172,495	$	104,552	$	339,613	$	616,660
Selling, General and Administrative Expenses	$	3,362,775	$	9,002,786	$	2,588,265	$	14,953,826
Income Statement for the nine months ended September 30, 2022:
Net Sales	$	9,860,392	$	5,278,955	$	—	$	15,139,347
Cost of Goods Sold	$	8,971,628	$	2,876,214	$	—	$	11,847,842
Research and development	$	—	$	234,885	$	—	$	234,885
Stock based compensation	$	151,679	$	99,733	$	308,568	$	559,980
Selling, General and Administrative Expenses	$	2,784,540	$	5,711,495	$	1,581,523	$	10,077,558
Loss on impairment of goodwill	$	—	$	1,138,203	$	—	$	1,138,203