Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.23.1
Segment Reporting
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]
SEGMENT REPORTING

NOTE 12 – SEGMENT REPORTING

During the three months ended March 31, 2023 and 2022, 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 three months ended March 31, 2023 and 2022 was as follows:

For the Three Months Ended
March 31,
2023 2022
Revenues:
C-Bond $ 93,206 $ 99,169
Mobile Tint 422,014 411,540
515,220 510,709
Depreciation and amortization:
C-Bond 437 2,294
Mobile Tint 20,413 20,616
20,850 22,910
Interest expense:
C-Bond
-
-
Mobile Tint 5,143 3,714
Other (a) 194,342 244,866
199,485 248,580
Net (loss):
C-Bond (275,376 ) (285,722 )
Mobile Tint (83,612 ) (65,102 )
Other (a) (364,099 ) (1,568,595 )
$ (723,087 ) $ (1,919,419 )

March 31,
2023		 December 31,
2022
Identifiable long-lived tangible assets on March 31, 2023 and December 31, 2022 by segment:
C-Bond $ 1,247 $ 1,684
Mobile Tint 86,835 94,622
$ 88,082 $ 96,306

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