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NOTE 10 - SEGMENTS
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
NOTE 10 - SEGMENTS

NOTE 10 - SEGMENTS

 

At March 31, 2022, 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, 2022 and 2021:

 

Three months ended March 31, 2022

                                 
   USA  Switzerland  Elimination  Total
Revenues  $18,475,113    1,026,080   $(81,882)  $19,419,311 
Cost of revenue   18,193,952    823,181    (81,882)   18,935,251 
Gross profit   281,161    202,899    —      484,060 
                     
Operating expenses                    
General and administration   781,300    208,198    —      989,498 
                     
Operating (loss)   (500,139)   (5,299)   —      (505,438)
                     
Other (expense) income   (29,841)   10,548    —      (19,293)
                     
Net (loss) income  $(529,980)  $5,249   $—     $(524,731)

 

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)

 

 

Asset Information

 

The following table shows asset information by geographic segment as of March 31, 2022 and December 31, 2021:

                                 
March 31, 2022  USA  Switzerland  Elimination  Total
Assets            
Current assets  $6,558,656   $1,034,605   $(221,190)  $7,372,071 
Non-current assets  $4,452,262   $609,858   $(2,584,562)  $2,477,558 
Liabilities                    
Current liabilities  $1,328,797   $1,542,009   $(221,191)  $2,649,615 
Non-current liabilities  $—     $263,092   $—     $263,092 

 

                                 
December 31, 2021  USA  Switzerland  Elimination  Total
Assets            
Current assets  $5,783,859   $997,216   $(214,551)  $6,566,524 
Non-current assets  $4,468,491   $609,189   $(2,584,562)  $2,493,118 
Liabilities                    
Current liabilities  $1,070,972   $1,506,594   $(214,551)  $2,363,015 
Non-current liabilities  $—     $275,729   $—     $275,729