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NOTE 15 - SEGMENT
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
NOTE 15 - SEGMENT

NOTE 15 - SEGMENT

 

At December 31, 2022 and 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 years ended December 31, 2022 and 2021:

 

 

Year ended December 31, 2022

                                 
   USA  Switzerland  Elimination  Total
Revenues  $94,188,685    4,913,216   $(5,898,369)  $93,203,532 
Cost of revenue   93,162,695    4,147,690    (5,898,369)   91,412,016 
Gross profit   1,025,990    765,526    —      1,791,516 
                     
Operating expenses                    
General and administration   4,216,107    767,069    —      4,983,176 
                     
Operating loss   (3,190,117)   (1,543)   —      (3,191,660)
                     
Other income (expense)   (2,679,759)   5,658    —      (2,674,101)
                     
Net income (loss)  $(5,869,876)  $4,115   $—     $(5,865,761)

 

Year ended December 31, 2021

                                 
   USA  Switzerland  Elimination  Total
Revenues  $60,112,852    4,681,978   $(92,812)  $64,702,018 
Cost of revenue   59,274,781    3,986,334    (92,812)   63,168,303 
Gross profit   838,071    695,644    —      1,533,715 
                     
Operating expenses                    
General and administration   3,733,579    784,052    —      4,517,631 
                     
Operating income (loss)   (2,895,508)   (88,408)   —      (2,983,916)
                     
Other income (expense)   (897,507)   17,422    —      (880,085)
                     
Net income (loss)  $(3,793,015)  $(70,986)  $—     $(3,864,001)

  

Asset Information

 

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

                                 
December 31, 2022  USA  Switzerland  Elimination  Total
Assets                    
Current assets  $6,496,354   $1,172,889   $(1,232,653)  $6,436,590 
Non-current assets  $11,646,662   $650,794   $(6,184,562)  $6,112,894 
Liabilities                    
Current liabilities  $5,967,729   $1,716,603   $(1,232,653)  $6,451,679 
Non-current liabilities  $—     $262,388   $—     $262,388 

 

                                 
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