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BUSINESS SEGMENT

12 Months Ended

Dec. 31, 2019

BUSINESS SEGMENT

BUSINESS SEGMENT

16.   BUSINESS SEGMENT

The following is a summary of the Company’s sales and long-lived assets by geography:

		2019			2018			2017
U.S. sales		$	31,897,924		$	28,646,574		$	27,015,712
North and South America sales (excluding U.S.)			8,248,990			3,597,444			6,380,745
Other international sales			1,650,265			1,030,684			1,097,381
Total sales		$	41,797,179		$	33,274,702		$	34,493,838
Long-lived assets
U.S.		$	10,542,688		$	10,738,253			-
International		$	89,369		$	113,494			-

The Company does not operate in separate reportable segments.  The Company has minimal long-lived assets in foreign countries.  Shipments to international customers generally require a prepayment either by wire transfer or an irrevocable confirmed letter of credit.  The Company does extend credit to international customers on some occasions depending upon certain criteria, including, but not limited to, the credit worthiness of the customer, the stability of the country, banking restrictions, and the size of the order.  All transactions are in U.S. currency.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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