BONK, INC. Segments Disclosure
Note 18 – Segment Reporting
The Company has two reportable segments: (i) sales and development of cannabidiol (CBD) based skin and wellness care and therapeutic products and (ii) sales of merchandise sold to theme parks. Sales of the theme park merchandise are made through the Company’s wholly owned subsidiary SRM Entertainment, Inc. Condensed financial information for years ended December 31, 2022 and 2021 follow;
| 2022 | 2021 | |||||||||
| Jupiter Wellness | Revenue | $ | 120,627 | $ | 183,142 | |||||
| Cost of Sales | 325,169 | 203,089 | ||||||||
| Gross Profit (Loss) | $ | (204,542 | ) | $ | (19,947 | ) | ||||
| SRM Entertainment | Revenue | $ | 6,076,116 | $ | 2,693,131 | |||||
| Cost of Sales | 4,845,217 | 2,137,699 | ||||||||
| Gross Profit (Loss) | $ | 1,230,899 | $ | 555,432 | ||||||
| Combined | Revenue | $ | 6,196,743 | $ | 2,876,273 | |||||
| Cost of Sales | 5,170,386 | 2,340,788 | ||||||||
| Gross Profit (Loss) | $ | 1,026,357 | $ | 535,485 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2022 | Apr 3, 2023 | Showing above |
| 2021 | Mar 31, 2022 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.