Quarterly report pursuant to Section 13 or 15(d)

Segment (Tables)

v3.22.2
Segment (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
                               
    For the Three Months Ended June 30, 2022
    Gas-Powered Boats   Franchise   Electric Boat and Development   Total
Net sales   $ 8,519,613     $     $     $ 8,519,613  
Cost of products sold     5,059,389             13,012       5,072,401  
Operating expense     3,356,381       7,723       555,087       3,919,191  
(Loss) Income from operations     103,843       (7,723 )     (568,099 )     (471,979 )
Total Other (expenses) income     (31,089 )     (3,882 )     (31,832 )     (66,803 )
Net income (loss)   $ 72,754     $ (11,605 )   $ (599,931 )   $ (538,782 )

 

                                 
    For the Three Months Ended June 30, 2021
    Gas-Powered Boats   Franchise   Electric Boat and Development   Total
Net sales   $ 3,297,571     $     $     $ 3,297,571  
Cost of products sold     1,981,427                   1,981,427  
Operating expense     1,415,527             17,550       1,433,077  
Income from operations     (99,383 )           (17,550 )     (116,933 )
Other income     231,590             (63,806 )     167,784  
Net income (loss)   $ 132,207     $     $ (81,356 )   $ 50,851  

 

                                 
    For the Six Months Ended June 30, 2022
    Gas-Powered Boats   Franchise   Electric Boat and Development   Total
Net sales   $ 14,406,645     $ (1,032 )   $     $ 14,405,613  
Cost of products sold     8,498,930       1,027       24,090       8,524,047  
Operating expense     6,309,997       33,978       1,057,723       7,401,698  
Income from operations     (402,282 )     (36,037 )     (1,081,813 )     (1,520,132 )
Other loss     (151,442 )     (26,116 )     (32,409 )     (209,967 )
Net loss   $ (553,724 )   $ (62,153 )   $ (1,114,222 )   $ (1,730,099 )

 

                                 
    For the Six Months Ended June 30, 2021
    Gas-Powered Boats   Franchise   Electric Boat and Development   Total
Net sales   $ 6,505,214     $     $     $ 6,505,214  
Cost of products sold     3,701,164                   3,701,164  
Operating expense     2,731,121             35,100       2,766,221  
Income from operations     72,929             (35,100 )     37,829  
Other income     210,419             (65,448 )     144,971  
Net income (loss)   $ 283,348     $     $ (100,548 )   $ 182,800  
Schedule of Segment Reporting Information, by Segment
               
    June 30,   December 31,
    2022   2021
Gas-Powered Boats   $ 3,984,376     $ 2,547,410  
Franchise   $     $ 100,196  
Electric-Boats   $ 378,382     $ 235,565