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SEGMENT REPORTING | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 12 – SEGMENT REPORTING As of September 30, 2025, we operated through two reportable business segments: (i) Precision Logistics and (ii) Authentication. The Chief Executive Officer is the chief operating decision maker (“CODM”). These segments reflect the way the CODM evaluates the Company’s business performance and allocates resources. The CODM assesses performance by using revenue, gross margin, operating expenses and net earnings. These metrics are analyzed by reviewing budget and forecast versus actual and prior year versus current year reporting. The various income performance measures are reviewed to ensure proper pricing strategies, effective cost controls and cash management across the organization. Reported revenue includes only the revenue generated by sales to external customers. Precision Logistics: This segment offers a value-added service provider for time and temperature sensitive parcel management. Through logistics management from a sophisticated IT platform with proprietary databases, package and flight-tracking software, weather, traffic, as well as dynamic dashboards with real-time visibility into shipment transit and last-mile events that are managed by a service center we provide our clients an end-to-end vertical approach for their most critical service delivery needs. Using our proprietary IT platform, we provide real-time information and analysis to mitigate supply chain flow interruption, delivering last-mile resolution for key markets, including the perishable healthcare and food industries. Authentication: This segment specializes in anti-counterfeit and brand protection. We do not allocate the following items to the segments: general & administrative expenses and other income (expense). The following table sets forth the revenue and operating results attributable to each reportable segment and includes a reconciliation of segment revenue to consolidated revenue and operating results to consolidated loss before income tax expense (in thousands):
Schedule of segment reporting information |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended |  |  | Three Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |
|  | Precision Logistics |  |  | Authentication |  |  | Consolidated |  |  | Precision Logistics |  |  | Authentication |  |  | Consolidated |
NET REVENUE |  | $ | 4,973 |  |  | $ | 60 |  |  | $ | 5,033 |  |  | $ | 5,303 |  |  | $ | 132 |  |  | $ | 5,435 |
COST OF REVENUE |  |  | 2,934 |  |  |  | 26 |  |  |  | 2,960 |  |  |  | 3,526 |  |  |  | 14 |  |  |  | 3,540 |
GROSS PROFIT |  |  | 2,039 |  |  |  | 34 |  |  |  | 2,073 |  |  |  | 1,777 |  |  |  | 118 |  |  |  | 1,895 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Management and technology |  |  | 401 |  |  |  | 7 |  |  |  | 408 |  |  |  | 642 |  |  |  | 264 |  |  |  | 906 |
Research and development |  |  | - |  |  |  | 5 |  |  |  | 5 |  |  |  | - |  |  |  | 5 |  |  |  | 5 |
Sales and marketing |  |  | 214 |  |  |  | 3 |  |  |  | 217 |  |  |  | 245 |  |  |  | 140 |  |  |  | 385 |
Other Segment Items |  |  | 356 |  |  |  | - |  |  |  | 356 |  |  |  | 387 |  |  |  | 52 |  |  |  | 439 |
Goodwill and Intangible asset impairment |  |  | 3,850 |  |  |  | - |  |  |  | 3,850 |  |  |  | - |  |  |  | 2,252 |  |  |  | 2,252 |
Total Segment expenses |  |  | 4,821 |  |  |  | 15 |  |  |  | 4,836 |  |  |  | 1,274 |  |  |  | 2,713 |  |  |  | 3,987 |
Segment (Expense) Income |  | $ | (2,782 | ) |  | $ | 19 |  |  | $ | (2,763 | ) |  | $ | 503 |  |  | $ | (2,595 | ) |  | $ | (2,092 | )
General and Administrative |  |  |  |  |  |  |  |  |  |  | (669 | ) |  |  |  |  |  |  |  |  |  |  | (778 | )
Other Income |  |  |  |  |  |  |  |  |  |  | 76 |  |  |  |  |  |  |  |  |  |  |  | 446 |
NET LOSS |  |  |  |  |  |  |  |  |  | $ | (3,356 | ) |  |  |  |  |  |  |  |  |  | $ | (2,424 | )
|  | Nine Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |
|  | Precision Logistics |  |  | Authentication |  |  | Consolidated |  |  | Precision Logistics |  |  | Authentication |  |  | Consolidated |
NET REVENUE |  | $ | 13,895 |  |  | $ | 113 |  |  | $ | 14,008 |  |  | $ | 16,161 |  |  | $ | 385 |  |  | $ | 16,546 |
COST OF REVENUE |  |  | 8,815 |  |  |  | 39 |  |  |  | 8,854 |  |  |  | 10,258 |  |  |  | 43 |  |  |  | 10,301 |
GROSS PROFIT |  |  | 5,080 |  |  |  | 74 |  |  |  | 5,154 |  |  |  | 5,903 |  |  |  | 342 |  |  |  | 6,245 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Management and technology |  |  | 1,554 |  |  |  | 44 |  |  |  | 1,598 |  |  |  | 2,215 |  |  |  | 779 |  |  |  | 2,994 |
Research and development |  |  | - |  |  |  | 15 |  |  |  | 15 |  |  |  | - |  |  |  | 65 |  |  |  | 65 |
Sales and marketing |  |  | 729 |  |  |  | 6 |  |  |  | 735 |  |  |  | 667 |  |  |  | 401 |  |  |  | 1,068 |
Other Segment Items |  |  | 1,162 |  |  |  | (100 | ) |  |  | 1,062 |  |  |  | 975 |  |  |  | 151 |  |  |  | 1,126 |
Goodwill and Intangible asset impairment |  |  | 3,850 |  |  |  | - |  |  |  | 3,850 |  |  |  | - |  |  |  | 2,265 |  |  |  | 2,265 |
Total Segment expenses (income) |  |  | 7,295 |  |  |  | (35 | ) |  |  | 7,260 |  |  |  | 3,857 |  |  |  | 3,661 |  |  |  | 7,518 |
Segment (Expense) Income |  | $ | (2,215 | ) |  | $ | 109 |  |  | $ | (2,106 | ) |  | $ | 2,046 |  |  | $ | (3,319 | ) |  | $ | (1,273 | )
General and Administrative |  |  |  |  |  |  |  |  |  |  | (2,241 | ) |  |  |  |  |  |  |  |  |  |  | (2,780 | )
Other Income |  |  |  |  |  |  |  |  |  |  | 129 |  |  |  |  |  |  |  |  |  |  |  | 730 |
NET LOSS |  |  |  |  |  |  |  |  |  | $ | (4,218 | ) |  |  |  |  |  |  |  |  |  | $ | (3,323 | )

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