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NOTE 13 - SEGMENT
 3 Months Ended
Mar. 31, 2020
Notes  
NOTE 13 - SEGMENT NOTE 13 – SEGMENT

 

At March 31, 2020, the Company operates in one industry segment, telecommunication services, and two geographic segments, USA and Switzerland, where current assets and equipment are located.

 

Operating Activities

 

The following table shows operating activities information by geographic segment for the three months ended March 31, 2020 and 2019:

 

Three Months Ended March 31, 2020

 

 

 

USA

 

Switzerland

 

Elimination

 

Total

Revenues

$

3,820,533

 

1,198,117

$

(1,238)

$

5,017,412

Cost of revenue

 

4,121,183

 

1,058,608

 

(1,238)

 

5,178,553

Gross profit

 

(300,650)

 

139,509

 

-

 

(161,141)

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

General and administration

 

1,132,092

 

165,435

 

-

 

1,297,527

 

 

 

 

 

 

 

 

 

Operating loss

 

(1,432,742)

 

(25,926)

 

-

 

(1,458,668)

 

 

 

 

 

 

 

 

 

Other expense

 

(2,438,271)

 

(12,264)

 

-

 

(2,450,535)

 

 

 

 

 

 

 

 

 

Net loss

$

(3,871,013)

$

(38,190)

$

-

$

(3,909,203)

 

Three Months Ended March 31, 2019

 

 

 

USA

 

Switzerland

 

Elimination

 

Total

Revenues

$

4,163,203

 

-

$

-

$

4,163,203

Cost of revenue

 

3,727,626

 

-

 

-

 

3,727,626

Gross profit

 

435,577

 

-

 

-

 

435,577

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

General and administration

 

190,507

 

-

 

-

 

190,507

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

245,070

 

-

 

-

 

245,070

 

 

 

 

 

 

 

 

 

Other income (expense)

 

(1,270,648)

 

-

 

-

 

(1,270,648)

 

 

 

 

 

 

 

 

 

Net loss

$

(1,025,578)

$

-

$

-

$

(1,025,578)

 

As of August 7, 2019, having completed all conditions under the Purchase Agreement, the Company acquired SwissLink located in Switzerland.

 

Asset Information

 

The following table shows asset information by geographic segment at March 31, 2020 and December 31, 2019:

 

                                            

 

USA

 

Switzerland

 

Elimination

 

Total

March 31, 2020

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Current assets

$

2,810,454

$

1,043,130

$

(820,995)

$

3,032,589

Non-current assets

$

3,190,193

$

495,684

$

(1,488,515)

$

2,197,362

Liabilities

 

 

 

 

 

 

 

 

Current liabilities

$

9,105,522

$

2,693,183

$

(820,995)

$

10,977,710

Non-current liabilities

$

1,703

$

386,684

$

-

$

388,387

 

                                            

 

USA

 

Switzerland

 

Elimination

 

Total

December 31, 2019

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Current assets

$

3,073,654

$

1,174,856

$

(810,013)

$

3,438,497

Non-current assets

$

3,146,894

$

456,070

$

(1,438,515)

$

2,164,449

Liabilities

 

 

 

 

 

 

 

 

Current liabilities

$

9,041,421

$

2,914,237

$

(810,013)

$

11,145,645

Non-current liabilities

$

11,442

$

216,274

$

-

$

227,716