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v3.22.2.2

Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2022
Accounting Policies [Abstract] |
Scheduled of Receivables | Scheduled of Receivables
For the Year Ended December 31, 2022: |  |  |
2023 |  | $ | 52,227 |
2024 |  |  | 89,532 |
2025 |  |  | 44,766 |
|  |  | 186,525 |
Less: amount representing interest |  |  | (9,674 | )
Total |  | $ | 176,851 |
Scheduled of Deconsolidated Ownership | Scheduled of Deconsolidated Ownership
Consideration |  |  |
Note receivable |  | $ | 176,851 |
Fair value of consideration received |  |  | 176,851 |
Recognized amounts of identifiable assets sold and liabilities assumed by buyer: |  |  |  |
Cash |  |  | 325,316 |
Lifeline revenue due from USAC |  |  | 74,650 |
Inventory |  |  | 107,089 |
Property and equipment - net |  |  | 20,645 |
Operating lease - right of use asset - net |  |  | 10,981 |
Total assets sold |  |  | 538,681 |
Accounts payable and accrued expenses |  |  | 1,183,850 |
Line of credit |  |  | 912,870 |
Note payable - SBA government |  |  | 150,000 |
Operating lease liability |  |  | 10,981 |
Total liabilities assumed by buyer |  |  | 2,257,701 |
Total net liabilities assumed by buyer |  |  | 1,719,020 |
Gain on deconsolidation of True Wireless |  |  | 1,895,871 |
Schedule of Disaggregation of Revenue from Contracts with Customers | The following represents the Company’s disaggregation of revenues for the nine months ended September 30, 2022 and 2021: Schedule of Disaggregation of Revenue from Contracts with Customers
|  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |
Revenue |  | Revenue |  |  | % of Revenues |  |  | Revenue |  |  | % of Revenues |
Surge Phone and Torch Wireless |  | $ | 61,462,327 |  |  |  | 72.04 | % |  | $ | 1,253,035 |  |  |  | 3.40 | %
Surge Blockchain, LLC |  |  | 102,378 |  |  |  | 0.12 | % |  |  | 110,547 |  |  |  | 0.30 | %
LogicsIQ, Inc. |  |  | 10,689,006 |  |  |  | 12.53 | % |  |  | 15,449,941 |  |  |  | 41.86 | %
Surge Fintech & ECS |  |  | 13,064,149 |  |  |  | 15.31 | % |  |  | 18,933,869 |  |  |  | 51.30 | %
True Wireless |  |  | - |  |  |  | 0.00 | % |  |  | 1,157,981 |  |  |  | 3.14 | %
Total Revenues |  | $ | 85,317,860 |  |  |  | 100 | % |  | $ | 36,905,373 |  |  |  | 100 | %
Schedule of Diluted Net Income (Loss) Per Share | The following potentially dilutive equity securities outstanding as of September 30, 2022 and 2021 were as follows: Schedule of Diluted Net Income (Loss) Per Share
|  | September 30, 2022 |  |  | September 30, 2021 |
Convertible notes payable and related accrued interest (1) |  |  | - |  |  |  | 540,206 |
Warrants (2) |  |  | 5,648,563 |  |  |  | 473,609 |
Stock options (3) |  |  | 6,801 |  |  |  | 3,401 |
Series A, convertible preferred stock (4) |  |  | 26,000 |  |  |  | 26,000 |
Series C, convertible preferred stock (5) |  |  | - |  |  |  | 3,607,990 |
Total common stock equivalents |  |  | 5,681,364 |  |  |  | 4,651,206 |
1 | - conversion prices variable
2 | - exercise prices variable
3 | - weighted average exercise price - $16/share and $16/share, respectively
4 | - each share converts to 1/10 of a share of common stock
5 |  | - each share converts to 250 shares of common stock
Schedule of Related Party Expenses | Schedule of Related Party Expenses
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Related party expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
321 Communications, Inc |  | $ | 5,685,359 |  |  | $ | 362 |  |  | $ | 11,554,803 |  |  | $ | 362 |
Axia Management, LLC |  |  | - |  |  |  | 1,300 |  |  |  | - |  |  |  | 95,415 |
Carddawg Investments, Inc. |  |  | 94,023 |  |  |  | 15,732 |  |  |  | 124,767 |  |  |  | 41,116 |
CenterCom USA, Inc |  |  | 393,990 |  |  |  | 338,595 |  |  |  | 1,713,920 |  |  |  | 908,550 |
Galaxy |  |  | - |  |  |  | 67,950 |  |  |  | - |  |  |  | 67,950 |
National Relief Telecom |  |  | 741,053 |  |  |  | - |  |  |  | 927,364 |  |  |  | - |
Total |  | $ | 6,914,425 |  |  | $ | 423,940 |  |  | $ | 14,320,854 |  |  | $ | 1,113,393 |
Total related party expenses |  | $ | 6,914,425 |  |  | $ | 423,940 |  |  | $ | 14,320,854 |  |  | $ | 1,113,393 |

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