XML 1030 R21.htm IDEA: XBRL DOCUMENT v3.22.4
NOTE 11 - SEGMENTS
 9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Segment Reporting [Abstract]    
NOTE 11 - SEGMENTS

NOTE 11 - SEGMENTS

 

At September 30, 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 and nine months ended September 30, 2022 and 2021:

 

Three months ended September 30, 2022

                               
   USA  Switzerland  Elimination  Total
Revenues  $22,364,201    1,291,688   $(1,719,255)  $21,936,634
Cost of revenue   21,226,541    1,114,388    (1,719,255)   20,621,674
Gross profit   1,137,660    177,300    —      1,314,960
                    
Operating expenses                   
General and administration   1,089,194    166,953    —      1,256,147
                    
Operating income   48,466    10,347    —      58,813
                    
Other expense   (29,411)   (2,090)   —      (31,501)
                    
Net income  $19,055   $8,257   $—     $27,312

 

Three months Ended September 30, 2021

                               
    USA   Switzerland   Elimination   Total
Revenues   $ 15,347,282       1,189,230     $ (19,773 )   $ 16,516,739
Cost of revenue     14,706,065       989,395       (19,773 )     15,675,687
Gross profit     641,217       199,835       —         841,052
                               
Operating expenses                              
General and administration     738,578       218,617       —         957,195
                               
Operating loss     (97,361 )     (18,782 )     —         (116,143)
                               
Other income     1,525       3,400       —         4,925
                               
Net loss   $ (95,836 )   $ (15,382 )   $ —       $ (111,218)

 

 

Nine months ended September 30, 2022

                               
   USA  Switzerland  Elimination  Total
Revenues  $63,898,961    3,554,591   $(2,397,891)  $65,055,661
Cost of revenue   61,838,539    2,969,719    (2,397,891)   62,410,367
Gross profit   2,060,422    584,872    —      2,645,294
                    
Operating expenses                   
General and administration   2,792,287    597,810    —      3,390,097
                    
Operating loss   (731,865)   (12,938)   —      (744,803)
                    
Other income (expense)   (45,938)   7,865    —      (38,073)
                    
Net loss  $(777,803)  $(5,073)  $—     $(782,876)

 

Nine months Ended September 30, 2021

                               
   USA  Switzerland  Elimination  Total
Revenues  $43,404,674    3,474,215   $(36,172)  $46,842,717
Cost of revenue   42,487,024    3,018,878    (36,172)   45,469,730
Gross profit   917,650    455,337    —      1,372,987
                    
Operating expenses                   
General and administration   3,077,319    587,154    —      3,664,473
                    
Operating loss   (2,159,669)   (131,817)   —      (2,291,486)
                    
Other income (expense)   (839,316)   18,723    —      (820,593)
                    
Net loss  $(2,998,985)  $(113,094)  $—     $(3,112,079)

 

Asset Information

 

The following table shows asset information by geographic segment as of September 30, 2022 and December 31, 2021:

                               
September 30, 2022  USA  Switzerland  Elimination  Total
Assets                   
Current assets  $5,628,559   $1,091,622   $(578,999)  $6,141,182
Non-current assets  $11,660,618   $600,882   $(6,184,562)  $6,076,938
Liabilities                   
Current liabilities  $1,729,868   $1,619,112   $(578,999)  $2,769,981
Non-current liabilities  $—     $246,473   $—     $246,473

 

                               
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

 

NOTE 15 - SEGMENT

 

At December 31, 2021 and 2020, 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, 2021 and 2020:

 

Year ended December 31, 2021

NOTE 15 - SEGMENT Schedule of Operating Activities by Geographic Segment

                                 
   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)

 

 

Year ended December 31, 2020

                                 
   USA  Switzerland  Elimination  Total
Revenues  $39,495,542   $5,432,022   $(17,558)  $44,910,006 
Cost of revenue   39,308,347    4,656,865    (17,558)   43,947,654 
Gross profit   187,195    775,157    —      962,352 
                     
Operating expenses                    
General and administration   3,359,237    815,130    —      4,174,367 
                     
Operating loss   (3,172,042)   (39,973)   —      (3,212,015)
                     
Other expense   (3,356,881)   (130,434)   —      (3,487,315)
 Net loss  $(6,528,923)  $(170,407)  $—     $(6,699,330)

 

Asset Information

 

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

                                 
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 

 

                                 
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