Annual report pursuant to Section 13 and 15(d)

Segment Reporting

v3.22.1
Segment Reporting
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING

NOTE 14 – SEGMENT REPORTING

During the year ended December 31, 2020, the Company operated in one reportable business segment, which consisted of 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”). During the year ended December 31, 2021, 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 years ended December 31, 2021 and 2020 was as follows:

For the Year Ended
December 31,
2021 2020
(As Restated)
Revenues:
C-Bond $ 434,811 $ 555,863
Mobile Tint 1,042,017
-
1,476,828 555,863
Depreciation and amortization:
C-Bond 9,889 14,093
Mobile Tint 36,078
-
45,967 14,093
Interest expense:
C-Bond 1,372 402
Mobile Tint 3,354
-
Other (a) 278,233 750,782
282,959 751,184
Net (loss) income:
C-Bond (2,001,725 ) (2,393,269 )
Mobile Tint 77,626
-
Other (a) (5,204,759 ) (2,041,174 )
$ (7,128,858 ) $ (4,434,443 )

December 31,
2021		 December 31,
2020
Identifiable long-lived tangible assets on December 31, 2021 and 2020 by segment
C-Bond $ 8,794 $ 18,683
Mobile Tint 126,228
-
$ 135,022 $ 18,683

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