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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 12 – SEGMENT REPORTING

 

Beginning on January 1, 2025, the Company operates in three operating and reportable segments which consist of (1) applying machine vision and AI to analyze high-speed objects and generate revenue from system installations, AI integrations, support, and consulting, herein known as the “Technologies” segment, (2) deploying Edge Data Centers for localized data processing in rural and underserved markets, herein known as the “Data Center Hosting & Related Services” segment, and (3) providing Asset Management Services under the AMA with New APR, managing mobile gas turbines and related assets, herein known as the “Asset Management Services” segment. The Company has determined that these reportable segments were strategic business units that offer different products and services. Currently, these reportable segments are being managed separately based on the fundamental differences in their operations.

 

The Company’s Technologies segment applies machine vision and AI to monitor and analyze high-speed objects such as trains, trucks, automobiles, and aircraft, and generates revenue through its technology systems, AI applications, ongoing technical support, and consulting services.

 

The Company’s Data Center Hosting & Related Services segment generates revenues through the deployment of Edge Data Centers that enable faster, localized data processing in rural and underserved markets, providing scalable solutions for enterprise and government clients.

 

The Company’s Asset Management Services segment generates revenues through the AMA with New APR, whereby Duos Energy oversees the deployment and operation of a fleet of mobile gas turbines and balance-of-plant inventory, providing management, sales, and operations support to New APR.

 

Corporate and unallocated amounts that do not relate to a reportable segment have been allocated to “Corporate & Unallocated.”

 

The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. The decisions concerning the allocation of the Company’s resources are made by the CODM with oversight by the Board of Directors. The CODM evaluates the performance of each segment and makes decisions concerning the allocation of resources based upon segment operating profit (loss), generally defined as income or loss before interest expense and income taxes. The CODM assesses segment performance by using each segment’s operating income (loss) and considers budget-to-actual variances on a periodic basis (at least quarterly) when making decisions about operational planning, including whether to invest resources into the segments or into other parts of the Company. Segment assets are reviewed by the Company’s CODM and are disclosed below. The accounting policies of the Technologies, Data Center Hosting & Related Services, and Asset Management Services segments are the same as those described in Note 1 of the Notes to Consolidated Financial Statements.

 

Information with respect to these reportable business segments for the nine months ended September 30, 2025 and 2024 was as follows:

 

Nine Months Ended September 30, 2025

 Schedule of business segments                    
   Technologies   Data Center Hosting & Related Services   Asset Management Services   Corporate and Unallocated   Consolidated 
Net revenues  $3,705,551   $32,000   $13,827,958   $—   $17,565,509 
                          
Cost of revenues (including $39,142 of depreciation)   3,091,784    49,536    9,075,172    —    12,216,492 
Operating Expenses (excluding depreciation and amortization)   5,435,074    1,322,711    —    —    6,757,785 
Depreciation and amortization   1,923,056    144    —    —    1,923,200 
Stock Compensation   —    —    —    3,014,323    3,014,323 
Income (loss) from operations   (6,744,363)   (1,340,391)   4,752,786    (3,014,323)   (6,346,291)
Interest Expense   (3,264)   (435,996)   —    —    (439,260)
Gain (Loss) on extinguishment of debt   —    (95,718)   —    —    (95,718)
Other Income   33,294    22,090    4,463    183,474    243,321 
Income (loss) before provision for income taxes   (6,714,333)   (1,850,015)   4,757,249    (2,830,849)   (6,637,948)
Provision for income tax   —    —    —    —    — 
Net income (loss)  $(6,714,333)  $(1,850,015)  $4,757,249   $(2,830,849)  $(6,637,948)

  

Nine Months Ended September 30, 2024

                     
   Technologies   Data Center Hosting & Related Services   Asset Management Services   Corporate and Unallocated   Consolidated 
Net revenues  $5,820,086   $—   $—   $—   $5,820,086 
                          
Cost of revenues   5,020,919    —    —    —    5,020,919 
Operating Expenses (excluding depreciation and amortization)   6,782,685    214,684    —    —    6,997,369 
Depreciation and amortization   1,472,924    41    —    —    1,472,965 
Stock Compensation   —    —    —    226,575    226,575 
Income (loss) from operations   (7,456,442)   (214,725)   —    (226,575)   (7,897,742)
Interest Expense   (1,595)   (116,396)   —    —    (117,991)
Change in fair value of warrant liabilities   —    —    —    245,980    245,980 
Gain (Loss) on extinguishment of warrant liabilities   —    —    —    379,626    379,626 
Other Income   28,801    3,183    —    —    31,984 
Income (loss) before provision for income taxes   (7,429,236)   (327,938)   —    399,031    (7,358,143)
Provision for income tax   —    —    —    —    — 
Net income (loss)  $(7,429,236)  $(327,938)  $—   $399,031   $(7,358,143)

 

Total assets by segment on September 30, 2025 and December 31, 2024:

         
   September 30,
2025		   December 31,
2024		 
Technologies  $10,502,420   $11,819,377 
Data Center Hosting & Related Services   12,065,715    4,131,189 
Asset Management Services   9,330,833    7,530,274 
Corporate and Unallocated   37,895,312    11,477,837 
   $69,794,280   $34,958,677 

  

All assets are located in the United States.