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Product and Geographic Segment Data
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Product and Geographic Segment Data

14. Product and Geographic Segment Data

 

We manage our business activities as a single segment as our business contains similar products and services managed by the Company, and are economically similar, and share similar types of customers, production and distribution. The company designs, manufactures and distributes ballon products throughout the world. The company also laminates, coats, prints and converts films used for food packaging and other commercial uses and for the conversion of films into flexible packaging containers and other products including balloon-inspired gift products.

 

The customers represent a single market or segment with similar stringent and well-defined requirements. The company makes operating decisions and assesses financial performance only for the Company as a whole and does not make operating decisions or assess financial performance by the end markets which ultimately use the products. Our chief operating decision maker (CODM) is Jana Schwan, CEO. The Company’s CODM regularly reviews financial information presented and does not evaluate the Company’s operating segment using asset or liability information. Instead, the CODM uses revenue, gross margin, and net income or loss to allocate operating and capital resources and assess performance by comparing actual results to historical results and previously forecasted financial information. There are no significant segment expenses reported to the CODM. Due to the single reportable segment, this financial information is presented on the Statements of Operations and Comprehensive Loss. 

 

The following table provides a breakdown of product net sales from operations in each of the years indicated (in thousands):

 

   Twelve Months Ended 
   December 31, 2024   December 31, 2023 
   $   % of   $   % of 
Product Category  (000) Omitted   Net Sales   (000) Omitted   Net Sales 
                 
Foil Balloons   11,510    64%   11,885    66%
                     
Film Products   847    5%   927    5%
                     
Other   5,596    31%   4,992    28%
                     
Total   17,953    100%   17,804    100%