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NOTE 13 - SEGMENTS
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
NOTE 13 - SEGMENTS

NOTE 13 - SEGMENTS

 

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 six months ended June 30, 2023 and 2022:

 

Three months ended June 30, 2023

                                 
   USA  Switzerland  Elimination  Total
Revenues  $32,960,138    1,334,080   $(1,469,389)  $32,824,829 
Cost of revenue   32,359,937    1,149,815    (1,469,389)   32,040,363 
Gross profit   600,201    184,265    —      784,466 
                     
Operating expenses                    
General and administration   845,485    191,699    —      1,037,184 
                     
Operating loss   (245,284)   (7,434)   —      (252,718)
                     
Other income (expense)   98,224    (7,150)   —      91,074 
                     
Net loss  $(147,060)  $(14,584)  $—     $(161,644)

  

Three months ended June 30, 2022

                                 
   USA  Switzerland  Elimination  Total
Revenues  $23,059,647    1,236,823   $(596,754)  $23,699,716 
Cost of revenue   22,418,046    1,032,150    (596,754)   22,853,442 
Gross profit   641,601    204,673    —      846,274 
                     
Operating expenses                    
General and administration   921,793    222,659    —      1,144,452 
                     
Operating loss   (280,192)   (17,986)   —      (298,178)
                     
Other income (expense)   13,314    (593)   —      12,721 
                     
Net loss  $(266,878)  $(18,579)  $—     $(285,457)

 

 

Six months ended June 30, 2023

                                 
   USA  Switzerland  Elimination  Total
Revenues  $57,807,809    2,681,515   $(2,997,966)  $57,491,358 
Cost of revenue   56,185,823    2,302,299    (2,997,966)   55,490,156 
Gross profit   1,621,986    379,216    —      2,001,202 
                     
Operating expenses                    
General and administration   2,196,441    375,009    —      2,571,450 
                     
Operating (loss) income   (574,455)   4,207    —      (570,248)
                     
Other income (expense)   273,179    (23,397)   —      249,782 
                     
Net loss  $(301,276)  $(19,190)  $—     $(320,466)

 

Six months ended June 30, 2022

                                 
   USA  Switzerland  Elimination  Total
Revenues  $41,534,760    2,262,903   $(678,636)  $43,119,027 
Cost of revenue   40,611,998    1,855,331    (678,636)   41,788,693 
Gross profit   922,762    407,572    —      1,330,334 
                     
Operating expenses                    
General and administration   1,703,093    430,857    —      2,133,950 
                     
Operating loss   (780,331)   (23,285)   —      (803,616)
                     
Other income (expense)   (16,527)   9,955    —      (6,572)
                     
Net loss  $(796,858)  $(13,330)  $—     $(810,188)

 

Asset Information

 

The following table shows asset information by geographic segment as of June 30, 2023 and December 31, 2022:

                                 
June 30, 2023  USA  Switzerland  Elimination  Total
Assets                    
Current assets  $6,381,103   $1,425,799   $(709,186)  $7,097,716 
Non-current assets  $11,670,900   $768,107   $(6,184,562)  $6,254,445 
Liabilities                    
Current liabilities  $5,519,606   $2,102,070   $(709,186)  $6,912,490 
Non-current liabilities  $—     $261,762   $—     $261,762 

 

             
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