XML 19 R10.htm IDEA: XBRL DOCUMENT
v3.22.1

NOTE 4 - ACQUISITION | 12 Months Ended
--- | ---
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract] |
NOTE 4 - ACQUISITION | NOTE 4 - ACQUISITION IoT Labs On April 15, 2020, we entered into a Company Acquisition Agreement (the “Agreement”) with Francisco Bunt regarding the acquisition of 51% of the shares in IoT Labs, whose principal business activity is the sale of Short Messages (SMS) between USA and Mexico, for $180,000. The following table summarizes the identifiable assets acquired and liabilities assumed upon acquisition of IoT Labs and the calculation of goodwill:
Total purchase price |  | $ | 180,000 |
Cash |  |  | 135,781 |
Other current assets |  |  | 953 |
Property and equipment |  |  | 34,075 |
Intangible asset |  |  | 21,875 |
Total identifiable assets |  |  | 192,684 |
Accounts payable |  |  | (100 | )
Total liabilities assumed |  |  | (100 | )
Net assets |  |  | 192,584 |
Non-controlling interest |  |  | 94,366 |
Total net assets |  |  | 98,218 |
Goodwill |  | $ | 81,782 |
Unaudited combined proforma results of operations for the year ended December 31, 2020 as though the Company acquired IoT Labs on January 1, 2020, are set forth below:
|  | December 31,
|  | 2020
Revenues |  | $ | 55,784,168 |
Cost of revenues |  |  | 54,631,017 |
Gross profit |  |  | 1,153,151 |
Operating expenses |  |  | 4,224,903 |
Operating loss |  |  | (3,071,752 | )
Other expense |  |  | (3,487,315 | )
Net Loss |  | $ | (6,559,067 | )

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of transactions that are recognized separately from the acquisition of assets and assumptions of liabilities in the business combination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration