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NOTE 15 - SEGMENT
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Segment Reporting [Abstract]    
NOTE 15 - SEGMENT

NOTE 12 - 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 three months ended March 31, 2023 and 2022:

 

Three months ended March 31, 2023

                                 
   USA  Switzerland  Elimination  Total
Revenues  $24,847,671    1,347,435   $(1,528,577)  $24,666,529 
Cost of revenue   23,825,886    1,152,484    (1,528,577)   23,449,793 
Gross profit   1,021,785    194,951    —      1,216,736 
                     
Operating expenses                    
General and administration   1,350,956    183,310    —      1,534,266 
                     
Operating (loss) income   (329,171)   11,641    —      (317,530)
                     
Other income (expense)   174,955    (16,247)   —      158,708 
                     
Net loss  $(154,216)  $(4,606)  $—     $(158,822)

 

 

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 )

 

Asset Information

 

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

                                 
March 31, 2023  USA  Switzerland  Elimination  Total
Assets                    
Current assets  $6,419,124   $1,235,556   $(917,713)  $6,736,967 
Non-current assets  $11,631,453   $703,066   $(6,184,562)  $6,149,957 
Liabilities                    
Current liabilities  $5,378,018   $1,840,726   $(917,713)  $6,301,031 
Non-current liabilities  $—     $256,233   $—     $256,233 

 

                                 
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  

 

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

NOTE 15 - SEGMENT Schedule of Operating Activities by Geographic Segment

                                 
   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