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Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Segment Reporting, Policy (Policies)
 12 Months Ended
Dec. 31, 2018
Policies  
Segment Reporting, Policy

Segment Disclosure     

FASB Codification Topic 280, Segment Reporting, establishes standards for reporting financial and descriptive information about an enterprise’s reportable segments.  The Company has three reportable segments: Clean Energy HRS (HRS), Cety Europe and the legacy electronic manufacturing services division. The segments are determined based on several factors, including the nature of products and services, the nature of production processes, customer base, delivery channels and similar economic characteristics. Refer to note 1 for a description of the various product categories manufactured under each of these segments. Prior to March 31, 2017 we only had one reporting segment.

An operating segment's performance is evaluated based on its pre-tax operating contribution, or segment income. Segment income is defined as net sales less cost of sales, and segment selling, general and administrative expenses, and does not include amortization of intangibles, stock-based compensation, other charges (income), net and interest and other, net.

 

Selected Financial Data:

 

2018  

2017  

Net Sales

 

 

Electronics Assembly

567,417  

581,191  

Clean Energy HRS

752,783  

376,442  

Cety Europe

10,971  

-  

Total Sales

1,331,171  

957,633  

 

 

 

Segment income and reconciliation before tax

 

 

Electronics Assembly

56,231  

70,949  

Clean Energy HRS

457,978  

341,932  

Cety Europe

6,473  

-  

Total Segment income

520,682  

412,881  

 

 

 

Reconciling items

 

 

General and Administrative

(449,549) 

(375,808) 

Share Based Expense

(353,140) 

(2,460) 

Salaries

(740,146) 

(783,656) 

Rent

(280,239) 

(268,551) 

Professional fees

(142,234) 

(139,322) 

Consulting

(79,084) 

(46,938) 

Financing Fees

(542,419) 

(708,714) 

Loss on disposal of fixed assets

2,389  

-  

Change in derivative liability

116,259  

142,326  

Interest expense

(862,536) 

(444,612) 

Net Loss before income tax

(2,810,017) 

(2,214,854) 

 

 

 

 

December 31, 2018

December 31, 2017

Total Assets

 

 

Electronics Assembly

1,029,129 

1,161,901 

Clean Energy HRS

1,777,354 

             1,613,615

Cety Europe

11,636 

 

Total Assets

2,818,119 

2,775,516