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NOTE 11 - SEGMENT
 3 Months Ended
Mar. 31, 2021
Notes  
NOTE 11 - SEGMENT

NOTE 11 - SEGMENT

 

At March 31, 2021, 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, 2021 and 2020:

 

Three Months Ended March 31, 2021

 

 

 

USA

 

Switzerland

 

Elimination

 

Total

Revenues

$

13,067,010

$

1,135,802

$

(5,201)

$

14,197,611

Cost of revenue

 

12,706,060

 

1,009,382

 

(5,201)

 

13,710,241

Gross profit

 

360,950

 

126,420

 

-

 

487,370

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

General and administration

 

1,316,116

 

181,995

 

-

 

1,498,111

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

(955,166)

 

(55,575)

 

-

 

(1,010,741)

 

 

 

 

 

 

 

 

 

Other income (expense)

 

(887,871)

 

20,123

 

-

 

(867,748)

 

 

 

 

 

 

 

 

 

Net loss

$

(1,843,037)

$

(35,452)

$

-

$

(1,878,489)

 

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 income (loss)

 

(1,432,742)

 

(25,926)

 

-

 

(1,458,668)

 

 

 

 

 

 

 

 

 

Other income (expense)

 

(2,438,271)

 

(12,264)

 

-

 

(2,450,535)

 

 

 

 

 

 

 

 

 

Net loss

$

(3,871,013)

$

(38,190)

$

-

$

(3,909,203)

 

Asset Information

 

The following table shows asset information by geographic segment as of March 31, 2021 and December 31, 2020:

 

March 31, 2021

 

USA

 

Switzerland

 

Elimination

 

Total

Assets

 

 

 

 

 

 

 

 

Current assets

$

5,719,953

$

1,048,730

$

(935,105)

$

5,833,578

Non-current assets

$

3,473,041

$

530,202

$

(1,669,515)

$

2,333,728

Liabilities

 

 

 

 

 

 

 

 

Current liabilities

$

4,416,181

$

2,926,454

$

(935,105)

$

6,407,530

Non-current liabilities

$

3,180

$

396,788

$

-

$

399,968

 

December 31, 2020

 

USA

 

Switzerland

 

Elimination

 

Total

Assets

 

 

 

 

 

 

 

 

Current assets

$

3,245,725

$

1,225,399

$

(889,540)

$

3,581,584

Non-current assets

$

3,478,147

$

561,551

$

(1,669,515)

$

2,370,183

Liabilities

 

 

 

 

 

 

 

 

Current liabilities

$

5,630,060

$

3,171,419

$

(889,540)

$

7,911,939

Non-current liabilities

$

2,816

$

432,048

$

-

$

434,864