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Business Segment and Geographic Area Information
 3 Months Ended
Aug. 31, 2024
Segment Reporting [Abstract]  
Business Segment and Geographic Area Information

Note 13 – 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 August 31,
   2024  2023
Net Sales          
Hair care and skin care  $551,509   $314,853 
Hearing enhancement and protection   5,299,763    5,791,416 
Total net sales  $5,851,272   $6,106,269 
           
Operating earnings (loss)          
Segment gross profit:          
Hair care and skin care  $256,489   $221,524 
Hearing enhancement and protection   3,897,159    4,426,042 
Total segment gross profit   4,153,648    4,647,566 
Selling and Marketing   2,669,471    3,206,841 
General and Administrative   1,624,879    1,266,968 
Consolidated operating income (loss)  $(140,702)  $173,757 
           
Total Assets:          
Hair care and skin care  $3,155,500   $4,259,041 
Hearing enhancement and protection   8,201,239    6,627,525 
Consolidated total assets  $11,356,739   $10,886,566 
           
Payments for property and equipment          
Hair care and skin care  $-   $- 
Hearing enhancement and protection   41,840    50,960 
Consolidated total payments for property and equipment  $41,840   $50,960 
           
Depreciation and amortization          
Hair care and skin care  $839   $1,418 
Hearing enhancement and protection   12,056    26,819 
Consolidated total depreciation and amortization  $12,895   $28,237 

 

Geographic Area Information

 

During the three months ended August 31, 2024, approximately 92% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). During the three months ended August 31, 2023, approximately 95% 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.