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SEGMENT INFORMATION
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Segment Reporting [Abstract]    
SEGMENT INFORMATION

NOTE 17 – SEGMENT INFORMATION

 

The Company currently operates as one business segment, which is also the sole reportable segment, focusing on the manufacturing and sales of indoor golf simulators. The Company’s business offerings have similar economic and other characteristics, including the nature of products, manufacturing, types of customers, and distribution methods. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Principal Executive and Financial Officer and Director, who reviews and evaluates consolidated profit and loss and total assets for the purpose of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.

 

In addition to the significant expense categories included within net loss presented on the Company’s Consolidated Statements of Operations, see below for disaggregated amounts that comprise consulting, contract labor, personnel, business development, royalty, and marketing expenses:

 

         
   For The Three Months Ended March 31, 
   2025   2024 
Consulting expenses  $633,981   $410,104 
Contract labor   613,340    222,208 
Personnel expenses   1,946,816    1,619,387 
Business development expenses   119,610    263,844 
Royalty expenses   225,320    329,888 
Marketing expenses   334,378    111,489 
Other expenses*   1,023,810    1,039,764 
Total operating expenses  $4,897,255   $3,996,684 

 

  * Other expenses is materially comprised of rent, insurance, stock-based compensation, depreciation and amortization, licenses, dues and subscriptions, travel and entertainment, and merchant fees.

 

NOTE 21 – SEGMENT INFORMATION

 

The Company currently operates as one business segment, which is also the sole reportable segment, focusing on the manufacturing and sales of indoor golf simulators. The Company’s business offerings have similar economic and other characteristics, including the nature of products, manufacturing, types of customers, and distribution methods. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Principal Executive and Financial Officer and Director, who reviews and evaluates consolidated profit and loss and total assets for the purpose of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.

 

In addition to the significant expense categories included within net loss presented on the Company’s Consolidated Statements of Operations, see below for disaggregated amounts that comprise consulting, contract labor, personnel, business development, royalty, and marketing expenses:

 

   2024   2023 
   Years Ended December 31, 
   2024   2023 
Consulting expenses  $1,226,900   $554,036 
Contract labor   1,365,640    1,282,583 
Personnel expenses   9,314,415    9,681,323 
Business development expenses   528,264    729,466 
Royalty expenses   706,214    709,640 
Marketing expenses   710,658    395,941 
Other expenses*   2,828,222    8,065,306 
Total operating expenses  $16,690,313   $21,418,295 

 

*Other expenses materially comprised of rent, insurance, stock-based compensation, depreciation and amortization, licenses, dues and subscriptions, travel and entertainment, and merchant fees.