Segment Reporting

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Reporting

Note 15 - Segment Reporting

In November 2023, FASB issued ASU 2023-07. ASU 2023-07 requires expanded disclosures about reportable segments including additional information on segment expenses, expanded interim period disclosures, and an explanation of how the chief operating decision maker utilizes segment information in evaluating segment performance. We are currently assessing the impact that the adoption of ASU 2023-07 will have on the disclosures in our consolidated financial statements.

Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, in which the entity holds material assets and reports revenue. We have two reportable segments based on our business units: (i) Technology Services (formerly “Platform Services”) and (ii) Rental Business. Our chief operating decision maker has been identified as the Chief Executive Officer and the President, each of which reviews operating results to make decisions about allocating resources and assessing performance for the entire Company.

	Three months Ended September 30,						Nine months Ended September 30,
	2024			2023			2024			2023
Revenue by segment
Technology services		339,227			47,474			422,006			142,538
Rental business		-			11,548			-			82,762
Consolidated revenue		339,227			59,022			422,006			225,300
Segment cost of revenue
Technology services		(113,361	)		(30,360	)		(139,687	)		(137,473	)
Rental business		-			-			-			(12,045	)
Consolidated segment cost of revenue		(113,361	)		(30,360	)		(139,687	)		(149,518	)
Consolidated segment gross margin		225,866			28,662			282,319			75,782
Segment operating expense
Technology services		(546,488	)		(31,051	)		(661,046	)		(40,604	)
Rental business		(64,430	)		(27,447	)		(193,324	)		(226,079	)
Consolidated segment operating expenses		(610,918	)		(58,498	)		(854,370	)		(266,683	)
Total consolidated segment operating loss		(385,052	)		(29,836	)		(572,051	)		(190,901	)
Segment other(expenses) income
Technology services		(34,168	)		-			(52,554	)		(1,005	)
Rental business		-			(237	)		(3,477	)		(1,822	)
Total consolidated segment operating loss		(419,220	)		(30,073	)		(628,082	)		(193,728	)
Corporate Expenses
Operating expenses		(1,304,568	)		(699,003	)		(3,552,021	)		(2,090,352	)
Other (expenses) income, net		(374,786	)		(48,531	)		(815,828	)		5,296,016
		(1,679,354	)		(747,534	)		(4,367,849	)		3,205,664
Total consolidated loss before income taxes	$	(2,098,574	)	$	(777,607	)	$	(4,995,931	)	$	3,011,936