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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | NOTE 18. SEGMENT INFORMATION The company operates primarily in two distinct business segments: Dealerships and Financial Services. Dealerships: Specializing in the buying, selling, and wholesaling of yachts and boats. Having a boat dealership created to run Yellow Fin sales in Miami. Financial Services: A recreational loan broker and lender providing financing solutions for individuals, dealerships, and brokerages. The Company’s segment profit or loss is measured using gross profit, which is the primary performance metric utilized by management to evaluate the financial results of each reportable segment and to make decisions regarding resource allocation. Although gross profit is reviewed by management for operational analysis, operating income (loss) is the primary measure used by the CODM for segment performance assessment and resource allocation. For segment reporting purposes, gross profit is calculated as the difference between segment revenue and the direct costs associated with specific projects or contracts. These direct costs include materials, labor, subcontractors, and other project-specific expenses directly attributable to the construction activities of each segment. The financial performance of each segment is regularly reviewed with operational leaders in charge of these segments, the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) and others. The CODM of the Company is Jason Ruegg, CEO. The Company’s segment disclosures are presented in accordance with the guidance set forth in ASC 280, Segment reporting. Specifically, the disclosures comply with the requirements outlined in ASC 280-10-50-22 through 50-26, which mandate that an entity disclose certain information about its operating segments to enable users of the financial statements to understand the financial performance of different parts of the business. In accordance with ASC 280-10-50-22, the Company discloses financial information for each reportable segment, including revenue, operating profit or loss, and other significant items that are used by the chief operating decision maker (CODM) in assessing the performance and making decisions about the allocation of resources. The Company identifies its reportable segments based on the internal management structure, and all relevant information is disclosed in the segment footnote as required. In accordance with ASC 280-10-50-29, the disclosures also adhere to the requirements of which mandate that the financial information provided for each segment should include items such as capital expenditures, depreciation, and amortization, when appropriate. The disclosures reflect the performance and financial position of each segment, and a reconciliation of segment totals to the overall combined and consolidated financial results, including total segment profit or loss and other significant disclosures. The Company’s segment disclosures are presented in accordance with the requirements set forth in ASC 280-10-50-30(b) and (c), which specify the need to disclose the total of reportable segments’ profit or loss, as well as the basis of measurement used to determine the segment results. In accordance with ASC 280-10-50-30(b), the Company provides the total of profit or loss for all reportable segments, which reflects the combined and consolidated operating results for each reportable segment included in the financial statements. The total segment profit or loss represents the aggregation of segment results before the allocation of corporate expenses and certain other items not attributable to specific segments. As required by ASC 280-10-50-30(c), the Company has also disclosed the basis of measurement for segment profit or loss. The measure used to assess segment performance and allocate resources is operating income (or loss), which includes revenues, cost of sales, and directly attributable operating expenses for each segment. The operating income (or loss) for each reportable segment is reviewed by the Company’s chief operating decision maker (CODM) and serves as the primary performance metric used in resource allocation and operational decision-making. Segment information is as follows: SCHEDULE OF SEGMENT INFORMATION
|  | For the nine months ended September 30, 2025 |
|  | Dealerships |  |  | Financial Services |  |  | Combined and consolidated |
Revenues |  |  | 80,733,434 |  |  |  | 1,858,754 |  |  |  | 82,592,188 |
Cost of revenues |  |  | 73,459,661 |  |  |  | 759,317 |  |  |  | 74,218,978 |
Gross profit |  |  | 7,273,773 |  |  |  | 1,099,437 |  |  |  | 8,373,210 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 210,201 |  |  |  | 171 |  |  |  | 210,372 |
Selling, general and administrative |  |  | 1,353,871 |  |  |  | 87,377 |  |  |  | 1,441,248 |
Advertising and marketing |  |  | 522,375 |  |  |  | 75,131 |  |  |  | 597,506 |
Professional services |  |  | 140,192 |  |  |  | 30,180 |  |  |  | 170,372 |
Salaries and wages |  |  | 2,403,647 |  |  |  | 710,317 |  |  |  | 3,113,964 |
Rent expenses |  |  | 533,872 |  |  |  | 62,378 |  |  |  | 596,250 |
Total operating expenses |  |  | 5,164,158 |  |  |  | 965,554 |  |  |  | 6,129,712 |
Operating income |  |  | 2,109,615 |  |  |  | 133,883 |  |  |  | 2,243,498 |
Other income (expenses) |  |  |  |  |  |  |  |  |  |  | - |
Interest expense, net |  |  | (1,612,887 | ) |  |  | (3,985 | ) |  |  | (1,616,872 | )
Other income (expense) |  |  | 143,889 |  |  |  | 6,434 |  |  |  | 150,323 |
Total other (expense) |  |  | (1,468,998 | ) |  |  | 2,449 |  |  |  | (1,466,549 | )
Net Income |  | $ | 640,617 |  |  | $ | 136,332 |  |  | $ | 776,949 |
|  | For the nine months ended September 30, 2024 |
|  | Dealerships |  |  | Financial Services |  |  | Combined and consolidated |
Revenues |  |  | 67,061,316 |  |  |  | 2,164,555 |  |  |  | 69,225,871 |
Cost of revenues |  |  | 61,437,517 |  |  |  | 858,739 |  |  |  | 62,296,256 |
Gross profit |  |  | 5,623,799 |  |  |  | 1,305,816 |  |  |  | 6,929,615 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 200,788 |  |  |  | 5,999 |  |  |  | 206,787 |
Selling, general and administrative |  |  | 941,018 |  |  |  | 112,257 |  |  |  | 1,053,275 |
Advertising and marketing |  |  | 227,219 |  |  |  | 86,862 |  |  |  | 314,081 |
Professional services |  |  | 285,869 |  |  |  | 2,506 |  |  |  | 288,375 |
Salaries and wages |  |  | 1,454,145 |  |  |  | 693,998 |  |  |  | 2,148,143 |
Rent expenses |  |  | 249,284 |  |  |  | 64,230 |  |  |  | 313,514 |
Total operating expenses |  |  | 3,358,323 |  |  |  | 965,852 |  |  |  | 4,324,175 |
Operating income |  |  | 2,265,476 |  |  |  | 339,964 |  |  |  | 2,605,440 |
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | (1,126,477 | ) |  |  | (79,161 | ) |  |  | (1,205,638 | )
Other income (expense) |  |  | 263,923 |  |  |  | 8,749 |  |  |  | 272,672 |
Total other (expense) |  |  | (862,554 | ) |  |  | (70,412 | ) |  |  | (932,966 | )
Net Income |  | $ | 1,402,922 |  |  | $ | 269,552 |  |  | $ | 1,672,474 |
The total assets for each segment are presented in accordance with segment reporting requirements of ASC 280-10, which requires the disclosure of total assets for each reportable segment.
|  | As of September 30, 2025 |
|  | Dealerships |  |  | Financial Services |  |  | Combined and consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,682,812 |  |  | $ | 584,752 |  |  |  | 2,267,564 |
Accounts receivable, net |  |  | 218,483 |  |  |  | 25,917 |  |  |  | 244,400 |
Inventory |  |  | 23,990,133 |  |  |  | 25,850 |  |  |  | 24,015,983 |
Prepaid expense |  |  | 2,203,600 |  |  |  | 77,747 |  |  |  | 2,281,347 |
Private label receivable |  |  | - |  |  |  | - |  |  |  | - |
Other current assets |  |  | 293,750 |  |  |  | 74,367 |  |  |  | 368,117 |
Property, plant and equipment, net |  |  | 496,276 |  |  |  | 1,880 |  |  |  | 498,156 |
Other receivable |  |  | 43,366 |  |  |  | - |  |  |  | 43,366 |
Intangible assets |  |  | 456,111 |  |  |  | - |  |  |  | 456,111 |
Right-of-use assets |  |  | 1,868,839 |  |  |  | - |  |  |  | 1,868,839 |
Goodwill |  |  | 570,000 |  |  |  | - |  |  |  | 570,000 |
TOTAL ASSETS |  | $ | 31,823,370 |  |  | $ | 790,513 |  |  | $ | 32,613,883 |
|  | As of December 31, 2024 |
|  | Dealerships |  |  | Financial Services |  |  | Combined and consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2,714,469 |  |  | $ | 212,657 |  |  |  | 2,927,126 |
Accounts receivable, net |  |  | 59,644 |  |  |  | 44,673 |  |  |  | 104,317 |
Inventory |  |  | 22,593,422 |  |  |  | - |  |  |  | 22,593,422 |
Prepaid expense |  |  | 2,337,100 |  |  |  | 51,682 |  |  |  | 2,388,782 |
Prepaid expense - related party |  |  | - |  |  |  | - |  |  |  | - |
Prepaid expense |  |  | - |  |  |  | - |  |  |  | - |
Private label receivable |  |  | - |  |  |  | 190,492 |  |  |  | 190,492 |
Other current assets |  |  | 542,856 |  |  |  | 297,545 |  |  |  | 840,401 |
Property, plant and equipment, net |  |  | 459,658 |  |  |  | 2,051 |  |  |  | 461,709 |
Other receivable |  |  | 42,192 |  |  |  | - |  |  |  | 42,192 |
Due from related party |  |  | 11,313 |  |  |  | - |  |  |  | 11,313 |
Right-of-use assets |  |  | 1,450,367 |  |  |  | 55,619 |  |  |  | 1,505,986 |
Goodwill |  |  | 570,000 |  |  |  | - |  |  |  | 570,000 |
TOTAL ASSETS |  | $ | 30,781,021 |  |  | $ | 854,719 |  |  | $ | 31,635,740 |

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