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SEGMENT REPORTING | 9 Months Ended
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Sep. 30, 2025
SEGMENT REPORTING |
SEGMENT REPORTING | NOTE 19 – SEGMENT REPORTING A. Basis for segmentation The Group operates through various operating segments, which include the wholesale sector, the pharmaceutical manufacturing sector, the nutraceuticals and pharmaceuticals sector and other, with only the first three of them being reportable segments based on the criteria (quantitative thresholds) of ASC 280. The financial information utilized by our Chief Operating Decision Maker (“CODM”), which is our CEO, for resource allocation and performance evaluation is included within the operating segments described above. The reconciling items presented in the tables below are excluded from the segment data provided to the Chief Operating Decision Maker (“CODM”). The “Other” category primarily consists of corporate expenses, including, but not limited to, costs related to SEC legal and compliance matters, executive compensation, audit and review fees, and other corporate overhead expenses. B. Information about reportable segments The tables below present information about the Company's reportable segments for the three and nine month periods ended September 30, 2025. The accounting policies followed in the preparation of the reportable segments are the same with those followed in the preparation of the Company's condensed consolidated financial statements. Nine-month period ended September 30, 2025
|  | Wholesale |  |  | Pharma manufacturing |  |  | Nutraceuticals & Pharmaceuticals |  |  | Other |  |  | Total |
Revenues |  |  | 40,608,665 |  |  |  | 1,213,562 |  |  |  | 3,746,023 |  |  |  | 405 |  |  |  | 45,568,655 |
Cost of Sales |  |  | (37,626,788 | ) |  |  | (208,777 | ) |  |  | (1,916,859 | ) |  |  | - |  |  |  | (39,752,424 | )
Gross Profit |  |  | 2,981,877 |  |  |  | 1,004,785 |  |  |  | 1,829,164 |  |  |  | 405 |  |  |  | 5,816,231 |
General and Administrative expenses |  |  | (514,158 | ) |  |  | (499,702 | ) |  |  | (1,044,103 | ) |  |  | (1,221,333 | ) |  |  | (3,279,295 | )
Salaries |  |  | (1,381,174 | ) |  |  | (1,410,704 | ) |  |  | (1,056,693 | ) |  |  | (979,841 | ) |  |  | (4,828,412 | )
Sales and Marketing expenses |  |  | (971 | ) |  |  | (911 | ) |  |  | (79,653 | ) |  |  | (33,120 | ) |  |  | (114,655 | )
Research and Development costs |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (108,603 | ) |  |  | (108,603 | )
Net finance costs |  |  | (605,818 | ) |  |  | - |  |  |  | 44,470 |  |  |  | (385,912 | ) |  |  | (947,260 | )
Segment profit / (loss) |  |  | 479,756 |  |  |  | (906,532 | ) |  |  | (306,814 | ) |  |  | (2,728,404 | ) |  |  | (3,461,994 | )
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | (171,020 | ) |  |  | (451,149 | ) |  |  | (321,869 | ) |  |  | (108,174 | ) |  |  | (1,052,212 | )
Stock based compensation |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,730,233 | ) |  |  | (1,730,233 | )
Non-cash interest |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (364,550 | ) |  |  | (364,550 | )
Fair value adjustments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,620,573 | ) |  |  | (2,620,573 | )
Foreign currency adjustments |  |  | 168,639 |  |  |  | 241,489 |  |  |  | - |  |  |  | (63,716 | ) |  |  | 346,412 |
Other income and expenses |  |  | 11,563 |  |  |  | 95,318 |  |  |  | 11,155 |  |  |  | (233,941 | ) |  |  | (115,905 | )
Net profit/(loss) before Income Taxes |  |  | 488,938 |  |  |  | (1,020,874 | ) |  |  | (617,528 | ) |  |  | (7,849,591 | ) |  |  | (8,999,055 | )
Three-month period ended September 30, 2025
|  | Wholesale |  |  | Pharma manufacturing |  |  | Nutraceuticals & Pharmaceuticals |  |  | Other |  |  | Total |
Revenues |  |  | 14,574,914 |  |  |  | 412,603 |  |  |  | 2,122,503 |  |  |  | 405 |  |  |  | 17,110,425 |
Cost of Sales |  |  | (13,240,183 | ) |  |  | (70,393 | ) |  |  | (1,197,231 | ) |  |  | - |  |  |  | (14,507,807 | )
Gross Profit |  |  | 1,334,731 |  |  |  | 342,210 |  |  |  | 925,272 |  |  |  | 405 |  |  |  | 2,602,618 |
General and Administrative expenses |  |  | (191,273 | ) |  |  | (193,755 | ) |  |  | (502,160 | ) |  |  | (582,551 | ) |  |  | (1,469,739 | )
Salaries |  |  | (517,261 | ) |  |  | (684,859 | ) |  |  | (391,175 | ) |  |  | (326,655 | ) |  |  | (1,919,950 | )
Sales and Marketing expenses |  |  | (116 | ) |  |  | (181 | ) |  |  | (31,377 | ) |  |  | (33,120 | ) |  |  | (64,794 | )
Research and Development costs |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (18,337 | ) |  |  | (18,337 | )
Net finance costs |  |  | (184,070 | ) |  |  | - |  |  |  | (76,223 | ) |  |  | (308,159 | ) |  |  | (568,452 | )
Segment profit / (loss) |  |  | 442,011 |  |  |  | (536,584 | ) |  |  | (75,665 | ) |  |  | (1,268,417 | ) |  |  | (1,438,655 | )
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | (67,464 | ) |  |  | (159,552 | ) |  |  | (114,441 | ) |  |  | (36,454 | ) |  |  | (377,911 | )
Stock based compensation |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (570,602 | ) |  |  | (570,602 | )
Non-cash interest |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (201,447 | ) |  |  | (201,447 | )
Fair value adjustments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,486,762 | ) |  |  | (2,486,762 | )
Foreign currency adjustments |  |  | 207 |  |  |  | 241,489 |  |  |  | (278,855 | ) |  |  | (234,778 | ) |  |  | (271,937 | )
Other income and expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,577 | ) |  |  | (5,577 | )
Net profit/(loss) before Income Taxes |  |  | 374,754 |  |  |  | (454,648 | ) |  |  | (468,960 | ) |  |  | (4,804,037 | ) |  |  | (5,352,890 | )
The following summary describes the operations of each reportable segment:
Reportable segments |  | Operations
Wholesale |  | Distribution and export of pharmaceutical products
Pharma manufacturing |  | Production of pharmaceutical products
Nutraceutical and pharmaceuticals |  | Trade of owned nutraceutical & pharmaceutical products

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- Definition The entire disclosure for reporting segments including data and tables. 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