Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.7.0.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]  
Summary of inventory
      June 30,
2017
    December 31,
2016
 
               
  Raw materials   $ 31,752     $ 38,460  
  Finished products     95,696       121,810  
      $ 127,448     $ 160,270  
Summary of reportable segments
  Total assets:   June 30,
2017
    December 31,
2016
 
  Nutraceutical and Cosmetic Additives   $ 1,651,442     $ 556,234  
  Finished Cosmetic Products     473,763       422,288  
  Eliminations     (968,004 )     (188,698 )
  Total   $ 1,157,201     $ 789,824  

 

      Three months ended     Six months ended  
      June 30,     June 30,     June 30,     June 30,  
      2017     2016     2017     2016  
  Net sales by segment:                        
  Nutraceutical and Cosmetic Additives   $ 447,330     $ 266,060     $ 703,893     $ 551,220  
  Finished Cosmetic Products     660,088       964,937       827,987       2,340,055  
  Eliminations     -       (3,750 )     -       (23,000 )
  Total   $ 1,107,418     $ 1,227,247     $ 1,531,880     $ 2,868,275  

 

      Three months ended     Six months ended  
      June 30,     June 30,     June 30,     June 30,  
  Net (loss) income by segment:   2017     2016     2017     2016  
  Nutraceutical and Cosmetic Additives   $ 154,825     $ 30,165     $ 181,632     $ 114,942  
  Finished Cosmetic Products     (188,675 )     199,668       (315,682 )     130,503  
                                   
  Other unallocated amounts:                                
  Corporate expenses     (191,627 )     (383,465 )     (466,413 )     (504,173 )
  Other income (expense)     921,772       (2,750 )     224,223       (5,813 )
                                   
  Consolidated net income (loss)   $ 696,295     $ (156,382 )   $ (376,240 )   $ (264,541 )