Description of Innovation Beverage Group Limited's Business Segments
The Group operates in two reportable geographic segments: Australia and the United States. For the year ended December 31, 2024, revenue totaled $2,931,243, with $2,929,943 from Australia and $1,300 from the United States. Loss from operations was $(3,197,040), comprising $(2,110,363) in Australia and $(1,086,677) in the United States. Depreciation and amortization expenses were $445,555 for Australia and $4,355 for the United States. Capital expenditures amounted to $3,247 in Australia and none in the United States. Total assets were $4,955,373 after eliminations, with $7,563,548 in Australia, $572,096 in the United States, and eliminations of $(3,180,271).
Revenue is categorized into two distribution channels: brand products and e-commerce products. Brand products generated $2,885,936 in revenue, with $2,884,636 from Australia and $1,300 from the United States. E-commerce products revenue was $45,307, all from Australia. The Group had net sales to one major customer exceeding 10% of net sales, representing approximately 95.73% of net sales in 2024 and 82.52% in 2023.
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