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SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2024
SEGMENT INFORMATION | 17. SEGMENT INFORMATION The Company and its subsidiaries operate in a single segment; the design, manufacture and sale of semiconductor products and services for commercial applications. The Company’s operating and reporting segment reflects the management reporting structure of the organization and the manner in which the chief operating decision maker regularly assesses information for decision making purposes, including the allocation of resources. A summary of the Company’s operations is below: OPEL, ODIS, POET Shenzhen, SPX and PTS OPEL, ODIS, POET Shenzhen, SPX and PTS are the designers and developers of the POET Optical Interposer platform and optical engines based on the POET Optical Interposer platform. BB Photonics BB Photonics developed photonic integrated components for the datacom and telecom markets utilizing embedded dielectric technology that enabled the partial integration of active and passive devices into photonic integrated circuits. BB Photonics’ operation is currently dormant. On a consolidated basis, the Company operates geographically in Singapore, China (collectively “Asia”), the United States and Canada. Geographical information is as follows: SCHEDULE OF GEOGRAPHICAL INFORMATION
As of December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
2024 |
As of December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
Current assets |  | $ | 1,325,632 |  |  | $ | 341,240 |  |  | $ | 53,815,162 |  |  | $ | 55,482,034 |
Long-term deposit |  |  | 107,890 |  |  |  | - |  |  |  | - |  |  |  | 107,890 |
Property and equipment |  |  | 12,256,402 |  |  |  | 501,280 |  |  |  | - |  |  |  | 12,757,682 |
Patents and licenses |  |  | - |  |  |  | 606,708 |  |  |  | - |  |  |  | 606,708 |
Right of use asset |  |  | 677,553 |  |  |  | 20,582 |  |  |  | - |  |  |  | 698,135 |
Total Assets |  | $ | 14,367,477 |  |  | $ | 1,469,810 |  |  | $ | 53,815,162 |  |  | $ | 69,652,449 |
POET TECHNOLOGIES INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Expressed in US Dollars) 17. SEGMENT INFORMATION (Continued)
Year Ended December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
Revenue |  | $ | 41,427 |  |  | $ | - |  |  | $ | - |  |  | $ | 41,427 |
Selling, marketing and administration |  |  | (3,329,834 | ) |  |  | (6,615,379 | ) |  |  | (8,826,208 | ) |  |  | (18,771,421 | )
Research and development |  |  | (7,536,414 | ) |  |  | (3,618,983 | ) |  |  | (179,244 | ) |  |  | (11,334,641 | )
Loss on the acquisition of the remaining interest of SPX |  |  | - |  |  |  | - |  |  |  | (6,852,687 | ) |  |  | (6,852,687 | )
Interest expense |  |  | (74,644 | ) |  |  | (28,029 | ) |  |  | - |  |  |  | (102,673 | )
Loss on fair value of derivative warrant liability |  |  | - |  |  |  | - |  |  |  | (20,631,082 | ) |  |  | (20,631,082 | )
Other income, including interest |  |  | 5,873 |  |  |  | - |  |  |  | 942,083 |  |  |  | 947,956 |
Forgiveness of Covid-19 government support loans |  |  | - |  |  |  | - |  |  |  | 7,298 |  |  |  | 7,298 |
Net loss |  | $ | (10,893,592 | ) |  | $ | (10,262,391 | ) |  | $ | (35,539,840 | ) |  | $ | (56,695,823 | )
As of December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
2023 |
As of December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
Current assets |  | $ | 326,926 |  |  | $ | 149,227 |  |  | $ | 2,693,592 |  |  | $ | 3,169,745 |
Property and equipment |  |  | 4,089,653 |  |  |  | 533,575 |  |  |  | - |  |  |  | 4,623,228 |
Patents and licenses |  |  | - |  |  |  | 502,055 |  |  |  | - |  |  |  | 502,055 |
Right of use asset |  |  | 379,462 |  |  |  | 102,927 |  |  |  | - |  |  |  | 482,389 |
Total Assets |  | $ | 4,796,041 |  |  | $ | 1,287,784 |  |  | $ | 2,693,592 |  |  | $ | 8,777,417 |
The Year Ended December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
Revenue |  | $ | 465,777 |  |  | $ | - |  |  | $ | - |  |  | $ | 465,777 |
Selling, marketing and administration |  | $ | (2,753,484 | ) |  | $ | (6,226,291 | ) |  | $ | (1,815,380 | ) |  | $ | (10,795,155 | )
Research and development |  |  | (6,249,120 | ) |  |  | (3,662,418 | ) |  |  | (166,392 | ) |  |  | (10,077,930 | )
Loss on fair value of derivative warrant liability |  |  | - |  |  |  | - |  |  |  | (24,865 | ) |  |  | (24,865 | )
Interest expense |  |  | (27,906 | ) |  |  | (42,276 | ) |  |  | - |  |  |  | (70,182 | )
Gain on contribution of intellectual to joint venture |  |  | 1,031,807 |  |  |  | - |  |  |  | - |  |  |  | 1,031,807 |
Other income, including interest |  |  | - |  |  |  | - |  |  |  | 234,990 |  |  |  | 234,990 |
Share of loss in joint venture |  |  | (1,031,807 | ) |  |  | - |  |  |  | - |  |  |  | (1,031,807 | )
Net loss |  | $ | (8,564,733 | ) |  | $ | (9,930,985 | ) |  | $ | (1,771,647 | ) |  | $ | (20,267,365 | )
As of December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
2022 |
As of December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
Current assets |  | $ | 664,658 |  |  | $ | 133,501 |  |  | $ | 8,770,035 |  |  | $ | 9,568,194 |
Property and equipment |  |  | 4,496,734 |  |  |  | 573,773 |  |  |  | - |  |  |  | 5,070,507 |
Patents and licenses |  |  | - |  |  |  | 510,705 |  |  |  | - |  |  |  | 510,705 |
Right of use asset |  |  | 55,775 |  |  |  | 185,272 |  |  |  | - |  |  |  | 241,047 |
Total Assets |  | $ | 5,217,167 |  |  | $ | 1,403,251 |  |  | $ | 8,770,035 |  |  | $ | 15,390,453 |
POET TECHNOLOGIES INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Expressed in US Dollars) 17. SEGMENT INFORMATION (Continued)
The Year Ended December 31, |  | Asia |  |  | US |  |  | Canada |  |  | Consolidated |
Revenue |  | $ | 552,748 |  |  | $ | - |  |  | $ | - |  |  | $ | 552,748 |
Selling, marketing and administration |  |  | (2,121,596 | ) |  |  | (5,885,970 | ) |  |  | (1,508,705 | ) |  |  | (9,516,271 | )
Research and development |  |  | (6,344,016 | ) |  |  | (4,205,177 | ) |  |  | (197,550 | ) |  |  | (10,746,743 | )
Gain on contribution of intellectual property to joint venture |  |  | 1,746,987 |  |  |  | - |  |  |  | - |  |  |  | 1,746,987 |
Interest expense |  |  | (17,701 | ) |  |  | (32,037 | ) |  |  | - |  |  |  | (49,738 | )
Forgiveness of Covid-19 government support loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other income, including interest |  |  | - |  |  |  | - |  |  |  | 188,320 |  |  |  | 188,320 |
Share of loss in joint venture |  |  | (3,211,993 | ) |  |  | - |  |  |  | - |  |  |  | (3,211,993 | )
Net loss |  | $ | (9,395,571 | ) |  | $ | (10,123,184 | ) |  | $ | (1,517,935 | ) |  | $ | (21,036,690 | )

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