| Segment Reporting |
NOTE 12 – SEGMENT REPORTING
Our Chief Executive Officer,
as the chief operating decision maker (“CODM”), organizes the Company, manages resource allocations, and
measures performance among two operating and reportable segments: (i) products and (ii) services. The products segment includes
our signature cars, sales of S7 supercars and merchandises. The services segment includes engineering, development, design, and
consulting services for JSAT, S7, and other customers.
The following table provides
information about disaggregated revenue based on revenue by service lines and revenue by area:
| |
|
Three-Months Ended
September 30, |
|
|
Six-Months Ended
September 30, |
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| Revenue by service lines: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Services provided to JSAT |
|
$ |
9,859,690 |
|
|
$ |
2,923,151 |
|
|
$ |
20,486,518 |
|
|
$ |
3,848,927 |
|
| S7 agreement (related party) |
|
|
- |
|
|
|
238,985 |
|
|
|
410,535 |
|
|
|
330,084 |
|
| Other |
|
|
10,000 |
|
|
|
- |
|
|
|
205,000 |
|
|
|
- |
|
| Services – total |
|
|
9,869,690 |
|
|
|
3,162,136 |
|
|
|
21,102,053 |
|
|
|
4,179,011 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| S7 Sales (non-related party) |
|
|
556,300 |
|
|
|
- |
|
|
|
764,433 |
|
|
|
- |
|
| Signature cars |
|
|
1,388,018 |
|
|
|
645,986 |
|
|
|
1,872,123 |
|
|
|
1,164,673 |
|
| Merchandise |
|
|
11,631 |
|
|
|
12,311 |
|
|
|
15,613 |
|
|
|
36,953 |
|
| Products – total |
|
|
1,955,949 |
|
|
|
658,297 |
|
|
|
2,652,169 |
|
|
|
1,201,626 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Royalties |
|
|
32,656 |
|
|
|
- |
|
|
|
39,623 |
|
|
|
4,043 |
|
| Total revenue |
|
$ |
11,858,295 |
|
|
$ |
3,820,433 |
|
|
$ |
23,793,845 |
|
|
$ |
5,384,680 |
|
| |
|
Three-Months Ended
September 30, |
|
|
Six-Months Ended
September 30, |
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| Gross profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Services |
|
$ |
2,403,903 |
|
|
$ |
2,217,804 |
|
|
$ |
4,479,515 |
|
|
$ |
2,739,393 |
|
| Products |
|
|
318,166 |
|
|
|
(84,531 |
) |
|
|
616,240 |
|
|
|
52,494 |
|
| Total |
|
$ |
2,722,069 |
|
|
$ |
2,133,273 |
|
|
$ |
5,095,755 |
|
|
$ |
2,791,887 |
|
|