Revenue recognition On July 1, 2019, the Company adopted Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (ASC Topic 606) using the modified retrospective method for contracts that were not completed as of June 30, 2019. This did not result in an adjustment to retained earnings upon adoption of this new guidance as the Companys revenue was recognized based on the amount of consideration expected to receive in exchange for satisfying the performance obligations. The core principle underlying the revenue recognition of this ASU allows the Company to recognize- revenue that represents the transfer of goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. This will require the Company to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. The Companys revenue streams are recognized at a point in time for the Companys sale of health and wellness products. The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The Company accounts for a contract with a customer when the contract is committed in writing, the rights of the parties, including payment terms, are identified, the contract has commercial substance and consideration is probable of substantially collection. Prior to July 1, 2019, the Company recognizes revenue from sales of goods when the following four revenue criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) selling price is fixed or determinable; and (4) collectability is reasonably assured. Revenue from supplies of health and wellness products is recognized when title and risk of loss are transferred and there are no continuing obligations to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the products are collected by the customer at the Companys office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments that are based upon managements best estimates and historical experience and are provided for in the same period as the related revenues are recorded. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Company records its revenue. Upon adoption on July 1, 2019, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no differences in the pattern of revenue recognition. Sales of Health and Wellness products - Performance obligations satisfied at a point in time On July 1, 2019, the Company derives its revenues from sales contracts with its customers with revenues being recognized when control of the health and wellness products are transferred to its customer at the Companys office or shipment of the goods, which is generally similar to when its delivery has occurred prior to July 1, 2019. Such revenues are recognized at a point in time after all performance obligations are satisfied. The revenue is recorded net of estimated discounts and return allowances. Historically, there were no sales return as the Companys products sold are not refundable, returnable or exchangeable. Disaggregated information of revenues by products are as follows: For the six months ended For the years ended December 31, 2019 December 31, 2018 June 30, 2019 June 30, 2018 (Unaudited) Survivor Select $ - $ 204,138 $ 203,815 $ 104,656 Energized Mineral Concentrate 100,270 222,789 361,092 66,573 Ionized Cal-Mag - - 55,731 43,124 Omega Blend 68,927 97,170 165,999 68,561 BetaMaxx 67,789 87,793 211,280 126,191 Iron - 2,813 2,809 20,270 Young Formula - - 117,480 57,630 Organic Youth Care Cleansing Bar 17,206 - 17,751 - Energetique Hyaluronic Acid Serum 175,170 - - - Trim+ - - 198,862 - Lipomask - 70,585 211,238 - Total revenues $ 429,362 $ 685,288 $ 1,546,057 $ 487,005