arcee-ai/sec-data-full · Datasets at Hugging Face

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decreased by $92,967, or 25.6%, to $269,677 for the three months ended June 30, 2022 from $362,644 for the three months ended June 30,
2021. Such decrease was primarily due to decreased employee headcount and officer compensation. As a percentage of automotive supplies
revenue, personnel costs for the automotive supplies segment were 13.6% and 18.3% for the three months ended June 30, 2022 and 2021, respectively. Depreciation and amortization . Our
total depreciation and amortization expense increased by $372,902, or 295.8%, to $498,974 for the three months ended June 30, 2022 from
$126,072 for the three months ended June 30, 2021. Such increase was primarily as a result of the intangible assets and property and equipment
acquired in the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth quarter of 2021. General and administrative expenses .
Our general and administrative expenses consist primarily of professional advisor fees, stock-based compensation, bad debts reserve,
rent expense, advertising, bank fees, and other expenses incurred in connection with general operations. Our total general and administrative
expenses were $2,380,444 for the three months ended June 30, 2022, as compared to $1,350,330 for the three months ended June 30, 2021. General and administrative expenses for the retail
and appliances segment increased by $91,407, or 23.0%, to $488,062 for the three months ended June 30, 2022 from $396,655 for the three
months ended June 30, 2021. Such increase was primarily due to increased marketing and professional fees. As a percentage of retail and
appliances revenue, general and administrative expenses for the retail and appliances segment were 17.0% and 11.8% for the three months
ended June 30, 2022 and 2021, respectively. General and administrative expenses for the construction
segment increased by $943,568, or 403.3%, to $1,177,529 for the three months ended June 30, 2022 from $233,961 for the three months ended
June 30, 2021. Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the
fourth quarter of 2021. Excluding these acquisitions, general and administrative expenses for the construction segment increased by $59,191,
or 25.3%. Such increase was primarily due to increased rent from new facility leases, as well as increased professional fees in the construction
segment. As a percentage of construction revenue, general and administrative expenses for the construction segment were 14.6% and 17.8%
for the three months ended June 30, 2022 and 2021, respectively. General and administrative expenses for the automotive
supplies segment increased by $153,437, or 51.4%, to $451,728 for the three months ended June 30, 2022 from $298,291 for the three months
ended June 30, 2021. Such increase was primarily due to increased marketing and professional fees. As a percentage of automotive supplies
revenue, general and administrative expenses for the automotive supplies segment were 22.8% and 15.1% for the three months ended June
30, 2022 and 2021, respectively. General and administrative expenses for our
holding company decreased by $158,298, or 37.6%, to $263,125 for the three months ended June 30, 2022 from $421,423 for the three months
ended June 30, 2021. Such decrease was primarily due to more corporate expenses relating to the business segments being allocated directly
to the subsidiaries. Total other income (expense) .
We had $932,437 in total other expense, net, for the three months ended June 30, 2022, as compared to other income, net, of $3,142,753
for the three months ended June 30, 2021. Other expense, net, for the three months ended June 30, 2022 consisted of $932,123 of interest
expense and a gain on disposal of property of equipment of $671, offset by other income of $357, while other income, net, for the three
months ended June 30, 2021 consisted of a gain on the disposition of 1847 Neese of $3,282,804, offset by interest expense of $136,512
and other expense of $3,539. The significant increase in interest expense was primarily a result of convertible debt issuances during
the fourth quarter of 2021 in order to help finance the acquisitions of High Mountain and Innovative Cabinets. Income tax benefit . We had an income
tax benefit of $439,000 for the three months ended June 30, 2022, as compared to $21,900 for the three months ended June 30, 2021. Net income (loss) from continuing operations .
As a result of the cumulative effect of the factors described above, our net loss from continuing operations was $147,668 for the three
months ended June 30, 2022, as compared to a net income of $2,984,848 for the three months ended June 30, 2021. 33 Comparison of the Six Months Ended June
30, 2022 and 2021 The following table sets forth key components
of our results of operations during the six months ended June 30, 2022 and 2021, both in dollars and as a percentage of our revenues. Six Months
Ended June 30, 2022 2021 Amount %
of Revenues Amount %
of Revenues Revenues $ 24,965,121 100.0 % $ 11,428,229 100.0 % Operating Expenses Cost of sales 15,828,013 63.4 % 7,775,471 68.0 % Personnel 3,164,873 12.7 % 1,321,240 11.6 % Depreciation and amortization 1,010,345 4.0 % 248,178 2.2 % General and administrative 4,546,651 18.2 % 2,674,526 23.4 % Total Operating Expenses 24,549,882 98.3 % 12,019,415 105.2 % Income (Loss) From Operations 415,239 1.7 % (591,186 ) (5.2 )% Other Income (Expenses) Other income (expense) 675 0.0 % (3,539 ) (0.0 )% Interest expense (1,838,866 ) (7.4 )% (181,633 ) (1.6 )% Gain on forgiveness of debt - - 360,302 3.2 % Gain on sale of property and equipment 32,076 0.1 % - - Gain on disposition of subsidiary - - 3,282,804 28.7 % Loss on adjustment shares - - (757,792 ) (6.6 )% Total Other Income (Expense) (1,806,115 ) (7.2 )% 2,700,142 23.6 % Net Income (Loss) Before Income Taxes (1,390,876 ) (5.6 )% 2,108,956 18.5 % Income tax benefit 316,000 1.3 % 21,900 0.2 % Net Income (Loss) From Continuing Operations $ (1,074,876 ) (4.3 )% $ 2,130,856 18.6 % Revenues . Our total revenues were
$24,965,121 for the six months ended June 30, 2022, as compared to $11,428,229 for the six months ended June 30, 2021. Revenues from the retail and appliances segment
decreased by $1,229,189, or 18.6%, to $5,387,795 for the six months ended June 30, 2022 from $6,616,984 for the six months ended June
30, 2021. Such decrease was primarily due to ongoing supply chain delays with appliance manufactures and the increased time it takes
to receive products. Revenues from the construction segment increased
by $13,121,404, or 463.5%, to $15,952,281 for the six months ended June 30, 2022 from $2,830,877 for the six months ended June 30, 2021.
Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth quarter
of 2021. Excluding these acquisitions, revenues from the construction segment increased by $371,463, or 13.1%. Such increase was primarily
due to increases in the average customer contract in the construction segment. Revenues from the automotive supplies segment
increased by $1,644,677, or 83.0%, to $3,625,045 for the six months ended June 30, 2022 from $1,980,368 for the six months ended June
30, 2021. Such increase was primarily due to the acquisition of Wolo, which was acquired on March 31, 2021. Cost of sales . Our total cost of
sales was $15,828,013 for the six months ended June 30, 2022, as compared to $7,775,471 for the six months ended June 30, 2021. Cost of sales for the retail and appliances segment
decreased by $1,058,533, or 20.7%, to $4,050,717 for the six months ended June 30, 2022 from $5,109,250 for the six months ended June
30, 2021. Such decrease was primarily due to corresponding the decrease in revenues from the retail and appliance segment. As a percentage
of retail and appliances revenues, cost of sales for the retail and appliances segment was 75.2% and 77.2% for the six months ended June
30, 2022 and 2021, respectively. Cost of sales for the construction segment increased
by $8,177,093, or 554.6%, to $9,651,589 for the six months ended June 30, 2022 from $1,474,496 for the six months ended June 30, 2021.
Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth quarter
of 2021. Excluding these acquisitions, cost of sales for the construction segment increased by $456,010, or 30.9%. Such increase was
primarily due to corresponding the increase in revenues from the construction segment, as well as increased product and delivery costs.
As a percentage of construction revenues, cost of sales for the construction segment was 60.5% and 52.1% for the six months ended June
30, 2022 and 2021, respectively. Cost of sales for the automotive supplies segment
increased by $933,982, or 78.4%, to $2,125,707 for the six months ended June 30, 2022 from $1,191,725 for the six months ended June 30,
2021. Such increase was primarily due to the acquisition of Wolo, which was acquired on March 31, 2021. Personnel costs . Our total personnel
costs were $3,164,873 for the six months ended June 30, 2022, as compared to $1,321,240 for the six months ended June 30, 2021. 34 Personnel costs for the retail and appliances
segment decreased by $48,126, or 9.8%, to $444,124 for the six months ended June 30, 2022 from $492,250 for the six months ended June
30, 2021. Such decrease was primarily due to decreased employee headcount as a result of decreased operations from the retail and appliances
segment. As a percentage of retail and appliances revenue, personnel costs for the retail and appliances segment were 8.2% and 7.4% for
the six months ended June 30, 2022 and 2021, respectively. Personnel costs for the construction segment
increased by $1,949,157, or 418.0%, to $2,415,503 for the six months ended June 30, 2022 from $466,346 for the six months ended June
30, 2021. Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth
quarter of 2021. Excluding these acquisitions, personnel costs for the construction segment decreased by $48,612, or 10.4%. Such decrease
was primarily due to decreased office personnel headcount in the construction segment. As a percentage of construction revenue, personnel
costs for the construction segment were 15.1% and 16.5% for the six months ended June 30, 2022 and 2021, respectively. Personnel costs for the automotive supplies segment
increased by $207,361, or 57.2%, to $570,005 for the six months ended June 30, 2022 from $362,644 for the six months ended June 30, 2021.
Such increase was primarily due to the acquisition of Wolo, which was acquired on March 31, 2021. Depreciation and amortization .
Our total depreciation and amortization expense increased by $762,167, or 307.1%, to $1,010,345 for the six months ended June 30, 2022
from $248,178 for the six months ended June 30, 2021. Such increase was primarily as a result of the intangible assets and property and
equipment acquired in the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth quarter of 2021. General and administrative expenses .
Our total general and administrative expenses were $4,546,651 for the six months ended June 30, 2022, as compared to $2,674,526 for the
six months ended June 30, 2021. General and administrative expenses for the retail
and appliances segment increased by $106,314, or 12.8%, to $937,556 for the six months ended June 30, 2022 from $831,242 for the six
months ended June 30, 2021. Such increase was primarily due to increased marketing and professional fees. As a percentage of retail and
appliances revenue, general and administrative expenses for the retail and appliances segment were 17.4% and 12.6% for the six months
ended June 30, 2022 and 2021, respectively. General and administrative expenses for the construction
segment increased by $1,844,815, or 410.6%, to $2,294,087 for the six months ended June 30, 2022 from $449,272 for the six months ended
June 30, 2021. Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the
fourth quarter of 2021. Excluding these acquisitions, general and administrative expenses for the construction segment increased by $104,288,
or 23.2%. Such increase was primarily due to increased rent from a new facility lease, as well as increased professional fees in the
construction segment. As a percentage of construction revenue, general and administrative expenses for the construction segment were
14.4% and 15.9% for the six months ended June 30, 2022 and 2021, respectively. General and administrative expenses for the automotive
supplies segment decreased by $58,077, or 6.5%, to $838,509 for the six months ended June 30, 2022 from $896,586 for the six months ended
June 30, 2021. Such decrease was primarily due no acquisition related costs during the current period. As a percentage of automotive
supplies revenue, general and administrative expenses for the automotive supplies segment were 23.1% and 45.3% for the six months ended
June 30, 2022 and 2021, respectively. General and administrative expenses for our
holding company decreased by $20,927, or 4.2%, to $476,499 for the six months ended June 30, 2022 from $497,426 for the six months ended
June 30, 2021. Such decrease was primarily due to more corporate expenses relating to the business segments being allocated directly to
the subsidiaries. Total other income (expense) .
We had $1,806,115 in total other expense, net, for the six months ended June 30, 2022, as compared to other income, net, of $2,700,142
for the six months ended June 30, 2021. Other expense, net, for the six months ended June 30, 2022 consisted of $1,838,866 of interest
expense, offset by a gain on disposal of property of equipment of $32,076 and other income of $675, while other income, net, for the

decreased by $92,967, or 25.6%, to $269,677 for the three months ended June 30, 2022 from $362,644 for the three months ended June 30,

2021. Such decrease was primarily due to decreased employee headcount and officer compensation. As a percentage of automotive supplies

revenue, personnel costs for the automotive supplies segment were 13.6% and 18.3% for the three months ended June 30, 2022 and 2021, respectively. Depreciation and amortization . Our

total depreciation and amortization expense increased by $372,902, or 295.8%, to $498,974 for the three months ended June 30, 2022 from

$126,072 for the three months ended June 30, 2021. Such increase was primarily as a result of the intangible assets and property and equipment

acquired in the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth quarter of 2021. General and administrative expenses .

Our general and administrative expenses consist primarily of professional advisor fees, stock-based compensation, bad debts reserve,

rent expense, advertising, bank fees, and other expenses incurred in connection with general operations. Our total general and administrative

expenses were $2,380,444 for the three months ended June 30, 2022, as compared to $1,350,330 for the three months ended June 30, 2021. General and administrative expenses for the retail

and appliances segment increased by $91,407, or 23.0%, to $488,062 for the three months ended June 30, 2022 from $396,655 for the three

months ended June 30, 2021. Such increase was primarily due to increased marketing and professional fees. As a percentage of retail and

appliances revenue, general and administrative expenses for the retail and appliances segment were 17.0% and 11.8% for the three months

ended June 30, 2022 and 2021, respectively. General and administrative expenses for the construction

segment increased by $943,568, or 403.3%, to $1,177,529 for the three months ended June 30, 2022 from $233,961 for the three months ended

June 30, 2021. Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the

fourth quarter of 2021. Excluding these acquisitions, general and administrative expenses for the construction segment increased by $59,191,

or 25.3%. Such increase was primarily due to increased rent from new facility leases, as well as increased professional fees in the construction

segment. As a percentage of construction revenue, general and administrative expenses for the construction segment were 14.6% and 17.8%

for the three months ended June 30, 2022 and 2021, respectively. General and administrative expenses for the automotive

supplies segment increased by $153,437, or 51.4%, to $451,728 for the three months ended June 30, 2022 from $298,291 for the three months

ended June 30, 2021. Such increase was primarily due to increased marketing and professional fees. As a percentage of automotive supplies

revenue, general and administrative expenses for the automotive supplies segment were 22.8% and 15.1% for the three months ended June

30, 2022 and 2021, respectively. General and administrative expenses for our

holding company decreased by $158,298, or 37.6%, to $263,125 for the three months ended June 30, 2022 from $421,423 for the three months

ended June 30, 2021. Such decrease was primarily due to more corporate expenses relating to the business segments being allocated directly

to the subsidiaries. Total other income (expense) .

We had $932,437 in total other expense, net, for the three months ended June 30, 2022, as compared to other income, net, of $3,142,753

for the three months ended June 30, 2021. Other expense, net, for the three months ended June 30, 2022 consisted of $932,123 of interest

expense and a gain on disposal of property of equipment of $671, offset by other income of $357, while other income, net, for the three

months ended June 30, 2021 consisted of a gain on the disposition of 1847 Neese of $3,282,804, offset by interest expense of $136,512

and other expense of $3,539. The significant increase in interest expense was primarily a result of convertible debt issuances during

the fourth quarter of 2021 in order to help finance the acquisitions of High Mountain and Innovative Cabinets. Income tax benefit . We had an income

tax benefit of $439,000 for the three months ended June 30, 2022, as compared to $21,900 for the three months ended June 30, 2021. Net income (loss) from continuing operations .

As a result of the cumulative effect of the factors described above, our net loss from continuing operations was $147,668 for the three

months ended June 30, 2022, as compared to a net income of $2,984,848 for the three months ended June 30, 2021. 33 Comparison of the Six Months Ended June

30, 2022 and 2021 The following table sets forth key components

of our results of operations during the six months ended June 30, 2022 and 2021, both in dollars and as a percentage of our revenues. Six Months

Ended June 30, 2022 2021 Amount %

of Revenues Amount %

of Revenues Revenues $ 24,965,121 100.0 % $ 11,428,229 100.0 % Operating Expenses Cost of sales 15,828,013 63.4 % 7,775,471 68.0 % Personnel 3,164,873 12.7 % 1,321,240 11.6 % Depreciation and amortization 1,010,345 4.0 % 248,178 2.2 % General and administrative 4,546,651 18.2 % 2,674,526 23.4 % Total Operating Expenses 24,549,882 98.3 % 12,019,415 105.2 % Income (Loss) From Operations 415,239 1.7 % (591,186 ) (5.2 )% Other Income (Expenses) Other income (expense) 675 0.0 % (3,539 ) (0.0 )% Interest expense (1,838,866 ) (7.4 )% (181,633 ) (1.6 )% Gain on forgiveness of debt - - 360,302 3.2 % Gain on sale of property and equipment 32,076 0.1 % - - Gain on disposition of subsidiary - - 3,282,804 28.7 % Loss on adjustment shares - - (757,792 ) (6.6 )% Total Other Income (Expense) (1,806,115 ) (7.2 )% 2,700,142 23.6 % Net Income (Loss) Before Income Taxes (1,390,876 ) (5.6 )% 2,108,956 18.5 % Income tax benefit 316,000 1.3 % 21,900 0.2 % Net Income (Loss) From Continuing Operations $ (1,074,876 ) (4.3 )% $ 2,130,856 18.6 % Revenues . Our total revenues were

$24,965,121 for the six months ended June 30, 2022, as compared to $11,428,229 for the six months ended June 30, 2021. Revenues from the retail and appliances segment

decreased by $1,229,189, or 18.6%, to $5,387,795 for the six months ended June 30, 2022 from $6,616,984 for the six months ended June

30, 2021. Such decrease was primarily due to ongoing supply chain delays with appliance manufactures and the increased time it takes

to receive products. Revenues from the construction segment increased

by $13,121,404, or 463.5%, to $15,952,281 for the six months ended June 30, 2022 from $2,830,877 for the six months ended June 30, 2021.

Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth quarter

of 2021. Excluding these acquisitions, revenues from the construction segment increased by $371,463, or 13.1%. Such increase was primarily

due to increases in the average customer contract in the construction segment. Revenues from the automotive supplies segment

increased by $1,644,677, or 83.0%, to $3,625,045 for the six months ended June 30, 2022 from $1,980,368 for the six months ended June

30, 2021. Such increase was primarily due to the acquisition of Wolo, which was acquired on March 31, 2021. Cost of sales . Our total cost of

sales was $15,828,013 for the six months ended June 30, 2022, as compared to $7,775,471 for the six months ended June 30, 2021. Cost of sales for the retail and appliances segment

decreased by $1,058,533, or 20.7%, to $4,050,717 for the six months ended June 30, 2022 from $5,109,250 for the six months ended June

30, 2021. Such decrease was primarily due to corresponding the decrease in revenues from the retail and appliance segment. As a percentage

of retail and appliances revenues, cost of sales for the retail and appliances segment was 75.2% and 77.2% for the six months ended June

30, 2022 and 2021, respectively. Cost of sales for the construction segment increased

by $8,177,093, or 554.6%, to $9,651,589 for the six months ended June 30, 2022 from $1,474,496 for the six months ended June 30, 2021.

Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth quarter

of 2021. Excluding these acquisitions, cost of sales for the construction segment increased by $456,010, or 30.9%. Such increase was

primarily due to corresponding the increase in revenues from the construction segment, as well as increased product and delivery costs.

As a percentage of construction revenues, cost of sales for the construction segment was 60.5% and 52.1% for the six months ended June

30, 2022 and 2021, respectively. Cost of sales for the automotive supplies segment

increased by $933,982, or 78.4%, to $2,125,707 for the six months ended June 30, 2022 from $1,191,725 for the six months ended June 30,

2021. Such increase was primarily due to the acquisition of Wolo, which was acquired on March 31, 2021. Personnel costs . Our total personnel

costs were $3,164,873 for the six months ended June 30, 2022, as compared to $1,321,240 for the six months ended June 30, 2021. 34 Personnel costs for the retail and appliances

segment decreased by $48,126, or 9.8%, to $444,124 for the six months ended June 30, 2022 from $492,250 for the six months ended June

30, 2021. Such decrease was primarily due to decreased employee headcount as a result of decreased operations from the retail and appliances

segment. As a percentage of retail and appliances revenue, personnel costs for the retail and appliances segment were 8.2% and 7.4% for

the six months ended June 30, 2022 and 2021, respectively. Personnel costs for the construction segment

increased by $1,949,157, or 418.0%, to $2,415,503 for the six months ended June 30, 2022 from $466,346 for the six months ended June

30, 2021. Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth

quarter of 2021. Excluding these acquisitions, personnel costs for the construction segment decreased by $48,612, or 10.4%. Such decrease

was primarily due to decreased office personnel headcount in the construction segment. As a percentage of construction revenue, personnel

costs for the construction segment were 15.1% and 16.5% for the six months ended June 30, 2022 and 2021, respectively. Personnel costs for the automotive supplies segment

increased by $207,361, or 57.2%, to $570,005 for the six months ended June 30, 2022 from $362,644 for the six months ended June 30, 2021.

Such increase was primarily due to the acquisition of Wolo, which was acquired on March 31, 2021. Depreciation and amortization .

Our total depreciation and amortization expense increased by $762,167, or 307.1%, to $1,010,345 for the six months ended June 30, 2022

from $248,178 for the six months ended June 30, 2021. Such increase was primarily as a result of the intangible assets and property and

equipment acquired in the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the fourth quarter of 2021. General and administrative expenses .

Our total general and administrative expenses were $4,546,651 for the six months ended June 30, 2022, as compared to $2,674,526 for the

six months ended June 30, 2021. General and administrative expenses for the retail

and appliances segment increased by $106,314, or 12.8%, to $937,556 for the six months ended June 30, 2022 from $831,242 for the six

months ended June 30, 2021. Such increase was primarily due to increased marketing and professional fees. As a percentage of retail and

appliances revenue, general and administrative expenses for the retail and appliances segment were 17.4% and 12.6% for the six months

ended June 30, 2022 and 2021, respectively. General and administrative expenses for the construction

segment increased by $1,844,815, or 410.6%, to $2,294,087 for the six months ended June 30, 2022 from $449,272 for the six months ended

June 30, 2021. Such increase was primarily due to the acquisitions of High Mountain and Innovative Cabinets, which were acquired in the

fourth quarter of 2021. Excluding these acquisitions, general and administrative expenses for the construction segment increased by $104,288,

or 23.2%. Such increase was primarily due to increased rent from a new facility lease, as well as increased professional fees in the

construction segment. As a percentage of construction revenue, general and administrative expenses for the construction segment were

14.4% and 15.9% for the six months ended June 30, 2022 and 2021, respectively. General and administrative expenses for the automotive

supplies segment decreased by $58,077, or 6.5%, to $838,509 for the six months ended June 30, 2022 from $896,586 for the six months ended

June 30, 2021. Such decrease was primarily due no acquisition related costs during the current period. As a percentage of automotive

supplies revenue, general and administrative expenses for the automotive supplies segment were 23.1% and 45.3% for the six months ended

June 30, 2022 and 2021, respectively. General and administrative expenses for our

holding company decreased by $20,927, or 4.2%, to $476,499 for the six months ended June 30, 2022 from $497,426 for the six months ended

June 30, 2021. Such decrease was primarily due to more corporate expenses relating to the business segments being allocated directly to

the subsidiaries. Total other income (expense) .

We had $1,806,115 in total other expense, net, for the six months ended June 30, 2022, as compared to other income, net, of $2,700,142

for the six months ended June 30, 2021. Other expense, net, for the six months ended June 30, 2022 consisted of $1,838,866 of interest

expense, offset by a gain on disposal of property of equipment of $32,076 and other income of $675, while other income, net, for the