Quarterly report pursuant to Section 13 or 15(d)

SEGMENTS

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SEGMENTS
 3 Months Ended
Mar. 31, 2024
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     Soylent     Total  
    Three Months Ended March 31, 2024  
    Starco Brands     Skylar     Soylent     Total  
Gross revenues   $ 3,984,086     $ 2,075,125     $ 9,431,470     $ 15,490,681  
Cost of revenues     1,376,925       843,068       6,256,544       8,476,537  
Gross profit   $ 2,607,161     $ 1,232,057     $ 3,174,926     $ 7,014,144  

 

    Starco Brands     Skylar     Soylent1     Total  
    Three Months Ended March 31, 2023  
    Starco Brands     Skylar     Soylent1     Total  
Gross revenues   $ 3,513,316     $ 1,914,182     $ 5,716,303     $ 11,143,801  
Cost of revenues     586,343       840,965       4,012,943       5,440,251  
Gross profit   $ 2,926,973     $ 1,073,217     $ 1,703,360     $ 5,703,550  

 

1 The Company does not report results for Soylent prior to the date of acquisition, February 15, 2023, as Soylent was not yet a subsidiary of the Company.

 

 

Depreciation expense allocated to the Starco Brands, Skylar and Soylent segments was $0, 3,611 and $1,055, respectively, for the three months ended March 31, 2024. 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.