Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

v3.23.1
BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2023
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.

 

Soylent. The Soylent segment generates revenue through the sale of nutritional products, mainly drinks.

 

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:

 

SCHEDULE OF GROSS PROFIT REPORTING SEGMENT

    Starco Brands     Skylar     Soylent     Total  
    Three Months Ended March 31, 2023  
    Starco Brands     Skylar     Soylent     Total  
Total revenues   $ 3,513,316     $ 1,914,182     $ 5,716,303     $ 11,143,801  
Total cost of revenues     586,343       488,464       4,012,943       5,087,750  
Gross profit   $ 2,926,973     $ 1,425,718     $ 1,703,360     $ 6,056,051  

 

 

    Starco Brands     Skylar     Soylent     Total  
    Three Months Ended March 31, 2022  
    Starco Brands     Skylar1     Soylent2     Total  
Total revenues   $ 923,274     $              -     $             -     $ 923,274  
Total cost of revenues     -       -       -       -  
Gross profit   $ 923,274     $ -     $ -     $ 923,274  

 

Depreciation expense allocated to the Starco Brands, Skylar and Soylent segments was $0, 3,079 and $640, respectively, for the three months ended March 31, 2023. There was no depreciation expense in the three months ended March 31, 2022 for any of the segments.