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Business Segment and Geographic Area Information
 3 Months Ended
Aug. 31, 2023
Segment Reporting [Abstract]  
Business Segment and Geographic Area Information

Note 15 – Business Segment and Geographic Area Information

 

Business Segments

 

The Company, directly or through its subsidiaries, markets and sells its products and services directly to consumers and through its dealers. In June 2022, the Company acquired a hearing enhancement and hearing protection business. The Company’s determination of its reportable segments is based on how its chief operating decision makers manage the business.

 

The Company’s segment information is as follows:

 

          
   Three months ended 
Net Sales  August 31, 2023   August 31, 2022 
Hair care and skin care  $314,853   $485,236 
Hearing enhancement and protection   5,791,416    3,752,122 
Total net sales  $6,106,269   $4,237,358 
           
Operating earnings          
Segment gross profit:          
Hair care and skin care  $221,524   $324,105 
Hearing enhancement and protection   4,426,042    2,958,549 
Total segment gross profit  $4,647,566   $3,282,654 
Selling and Marketing   3,206,841    1,977,976 
General and Administrative   1,266,968    1,105,277 
Consolidated operating income  $173,757   $199,401 
           
Total Assets:          
Hair care and skin care  $4,259,041   $781,328 
Hearing enhancement and protection   6,627,525    6,185,244 
Consolidated total assets  $10,886,566   $6,966,572 
           
Payments for property and equipment          
Hair care and skin care  $-   $- 
Hearing enhancement and protection   50,960    6,400 
Consolidated total payments for property and equipment  $50,960   $6,400 
           
Depreciation and amortization          
Hair care and skin care  $1,418   $1,423 
Hearing enhancement and protection   26,819    18,246 
Consolidated total depreciation and amortization  $28,237   $19,669 

 

Geographic Area Information

 

During the three months ended August 31, 2023, approximately 96% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). All Company assets are located in the U.S.