Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.3.0.814
Segment Information
9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
Segment Information

NOTE 20 – SEGMENT INFORMATION

 

The Company’s operations are classified into the sales of products within the United States and outside the United States. The Company determined its operating segments in accordance with FASB Topic 280, Segment Reporting.

 

Results of the operating segments are as follows:

 

For the Nine months ended September 30, 2015:

 

    Domestic     International     Total  
                   
Sales   $ 56,758     $ 2,764,391     $ 2,821,149  
Cost of goods sold     47,265       2,302,063       2,349,329  
Gross profit   $ 9,492     $ 462,328     $ 471,820  
                         
Accounts receivable, gross   $ 10,666     $ 320,902     $ 331,568  

 

For the Nine months ended September 30, 2014:

 

    Domestic     International     Total  
                   
Sales   $ 14,763     $ 811,035     $ 825,798  
Cost of goods sold     8,862       1,213,045       1,235,126  
Gross profit   $ 2,092     $ (402,010 )   $ (409,328 )

 

The Company presents its financial statements in two segments, as shown above. Except for the accounts receivable, which relate to the international business, all assets and liabilities are domiciled in the United States and are therefore associated with the domestic business. While the gross margin information is allocated between the domestic and international business based on sales, the majority of the expenses are paid in the United States, the domestic segment.