Annual report pursuant to Section 13 and 15(d)

SEGMENTS

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SEGMENTS
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENTS

NOTE 4 – SEGMENTS

 

The Company has the following reportable segments:

 

Starco Brands. The Starco Brands segments generate 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:

  

    Starco Brands     Skylar     Soylent1     Total  
    Year Ended December 31, 2023  
    Starco Brands     Skylar     Soylent1     Total  
Gross revenues   $ 16,322,174     $ 10,670,620     $ 38,218,444     $ 65,211,238  
Cost of revenues     3,929,133       2,756,304       30,745,840       37,431,277  
Gross profit   $ 12,393,041     $ 7,914,316     $ 7,472,604     $ 27,779,961  

 

    Starco Brands2     Skylar3     Soylent1     Total  
    Year Ended December 31, 2022  
    Starco Brands2     Skylar3     Soylent1     Total  
Gross revenues   $ 7,789,716     $ 23,012     $         -     $ 7,812,728  
Cost of revenues     770,123       6,004       -       776,127  
Gross profit   $ 7,019,593     $ 17,008     $ -     $ 7,036,601  

 

1   The Company does not include results for Soylent prior to the date of acquisition, February 15, 2023, as Soylent was not yet a subsidiary of the Company.
     
2   The Company does not include results for AOS within the Starco Brands segment prior to the date of acquisition, September 12, 2022, as AOS was not yet a subsidiary of the Company.
     
3   The Company does not report results for Skylar prior to the date of acquisition, December 29, 2022, as Skylar was not yet a subsidiary of the Company.

 

 

Depreciation expense allocated to the Starco Brands, Skylar and Soylent segments was zero, $8,236, and $4,482 respectively, for the year ended December 31, 2023.

 

Depreciation expense allocated to the Starco Brands and Skylar segments was $16,622 and $71, respectively, for the year ended December 31, 2022.