Annual report pursuant to Section 13 and 15(d)

BUSINESS SEGMENTS

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BUSINESS SEGMENTS
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENTS

NOTE 4 – BUSINESS SEGMENTS

 

The Company has the following reportable segments:

 

Starco Brands. The Starco Brands segments generates revenue through the development and sales of consumer good products. The Starco Brands segment includes STCB, AOS, Whipshots Holdings and Whipshots LLC.

 

Skylar. The Skylar segment generates revenue through the sale of fragrances.

 

Balance sheet data are reviewed by the CODM on a consolidated basis; therefore, disaggregated balance sheet data are not presented.

 

The following tables present gross profit by reporting segment:

 

    Starco Brands     Skylar     Total  
    Year Ended December 31, 2022  
    Starco Brands     Skylar     Total  
Total revenues   $ 7,789,716     $ 23,012     $ 7,812,728  
Total cost of revenues     770,123       6,004       776,127  
Gross profit   $ 7,019,593     $ 17,008     $ 7,036,601  

 

    Starco Brands     Skylar     Total  
    Year Ended December 31, 2021  
    Starco Brands     Skylar     Total  
Total revenues   $ 673,329     $ -     $ 673,329  
Total cost of revenues     -       -       -  
Gross profit   $ 673,329     $   -     $ 673,329  

 

Depreciation expense allocated to the Starco Brands and Skylar segments was $16,622 and $71, respectively, for the year ended December 31, 2022. There was no depreciation expense in the year ended December 31, 2021 for either segment.