Annual report [Section 13 and 15(d), not S-K Item 405]

SEGMENTS (Tables)

v3.25.1
SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SCHEDULE OF GROSS PROFIT OR LOSS REPORTING SEGMENT

The following tables present gross profit or loss and significant expenses by reporting segment:

 

    Starco Brands     Skylar     Soylent     Total  
    Year Ended December 31, 2024  
    Starco Brands     Skylar     Soylent     Total  
Gross revenues   $ 6,010,542     $ 10,460,347     $ 36,056,241     $ 52,527,130  
Gross revenues, related parties     6,140,172       -       -       6,140,172  
Cost of revenues     1,421,731       4,247,702       28,237,868       33,907,301  
Cost of revenues, related parties     3,896,551       -       -       3,896,551  
Gross profit     6,832,432       6,212,645       7,818,373      

20,863,450

  
                                 
Compensation expense     3,938,074       1,466,491       3,632,558       9,037,123  
Professional fees     2,269,402       206,839       1,056,811       3,533,052  
Marketing, general and administrative     6,398,254       4,521,725       7,970,759       18,890,738  
Fair value share adjustment loss     -       -       (10,544,263 )     (10,544,263 )
Goodwill impairment     2,944,871       -       11,383,000       14,327,871  
Intangibles impairment     13,304       -       -       13,304  
Total operating expenses     15,563,905       6,195,055       13,498,865       35,257,825  
                                 
(Loss) income from operations   $ (8,731,473 )   $ 17,590     $ (5,680,492 )   $ (14,394,375 )

 

    Starco Brands     Skylar     Soylent(1)     Total  
    Year Ended December 31, 2023  
    Starco Brands     Skylar     Soylent(1)     Total  
Gross revenues   $ 4,625,452     $ 10,670,620     $ 36,652,661     $ 51,948,733  
Gross revenues, related parties     11,696,722       -       -       11,696,722  
Cost of revenues     1,240,973       4,570,452       29,180,057       34,991,482  
Cost of revenues, related parties     2,688,160       -       -       2,688,160  
Gross profit     12,393,041       6,100,168       7,472,604       25,965,813  
                                 
Compensation expense     11,019,955       1,446,834       3,432,703       15,899,492  
Professional fees     3,707,516       827,399       1,326,734       5,861,649  
Marketing, general and administrative     7,198,459       4,672,343       7,958,783       19,829,585  
Fair value share adjustment loss     -       -       215,531       215,531  
Goodwill impairment     9,145,000       -       20,467,700       29,612,700  
Total operating expenses     31,070,930       6,946,576       33,401,451       71,418,957  
                                 
Loss from operations   $ (18,677,889 )   $ (846,408 )   $ (25,928,847 )   $ (45,453,144 )

 

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.