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Segment reporting
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment reporting

Note 12 – Segment reporting

 

The Company consists of two types of operations. Focus Universal, Inc. and Perfecular Inc. (“Focus”) involve wholesale, research and development of universal smart instrument and farming devices. AVX Design & Integration, Inc. (“AVX”) is an IoT installation and management company specializing in high performance and easy to use audio/video, home theater, lighting control, automation, and integration. The table below discloses income statement information by segment.

 

               
   Six months ended June 30, 2021 
   Focus   AVX   Total 
             
Revenue  $526,161   $83,841   $610,002 
Revenue - related party   15,141    –    15,141 
Total revenue   541,302    83,841    625,143 
                
Cost of Revenue   422,663    78,183    500,846 
                
Gross Profit   118,639    5,658    124,297 
                
Operating Expenses:               
Selling   332    626    958 
Compensation - officers   73,100    –    73,100 
Research and development   110,372    –    110,372 
Professional fees   669,679    1,471    671,150 
General and administrative   519,574    131,871    651,445 
Total Operating Expenses   1,373,057    133,968    1,507,025 
                
Loss from Operations   (1,254,418)   (128,310)   (1,382,728)
                
Other Income (Expense):               
Interest income (expense), net   (20,715)   (2,041)   (22,756)
Other income (expense), net   245,241    (2,418)   242,823 
Total other income (expense)   224,526    (4,459)   220,067 
                
Loss before income taxes   (1,029,892)   (132,769)   (1,162,661)
                
Tax expense   –    –    – 
                
Net Loss  $(1,029,892)  $(132,769)  $(1,162,661)