Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION

v3.25.3
SEGMENT INFORMATION
 3 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 10 – SEGMENT INFORMATION

 

The Company has one business activity and derives its revenue from the design, development, manufacturing and sale of a portfolio of advanced lithium-ion energy storage solutions for electrification of a range of industrial commercial sectors which include material handling, airport ground support equipment (“GSE”) and stationary energy storage. Accordingly, the Company operates as a single operating and reporting segment. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer. The CODM reviews financial information including operating results and assets on a consolidated basis.

 

When evaluating the Company’s financial performance and making strategic decisions, the CODM uses net income (loss) and Adjusted EBITDA to assess performance and allocate financial, capital and personnel resources. Net income (loss) and Adjusted EBITDA are used in the annual operating plan and forecasting process as well as ongoing decisions driven by the monthly or quarterly reviews of the plan versus actual results.

 

The table below is a summary of the segment profit or loss, including significant segment expenses, for the periods presented:

 

SCHEDULE OF SEGMENT INFORMATION

    1       2  
    Three months ended September 30,  
    2025     2024  
Revenues   $ 13,175,000     $ 16,125,000  
Less:                
Cost of sales     9,410,000       10,907,000  
General and administrative     3,922,000       4,272,000  
Selling and marketing     733,000       591,000  
Research and development     1,037,000       1,315,000  
Depreciation     251,000       252,000  
Interest     384,000       457,000  
Net loss   $ (2,562,000 )   $ (1,669,000 )

 

Assets provided to the CODM are consistent with those reported on the consolidated balance sheets. All long-lived assets are held in the United States, and revenues and net losses are solely generated from operations in the United States.