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NOTE 6 – PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

NOTE 6 – PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2023 and 2022 consisted of the following:


	December 31,			December 31,
	2023			2022
Telecommunication equipment	$	386,700		$	317,958
Telecommunication software		836,840			640,566
Other equipment		99,892			99,126
Total property and equipment		1,323,432			1,057,650
Accumulated depreciation and amortization		(800,435	)		(656,629	)
Total property and equipment	$	522,997		$	401,021

Depreciation expense for the years ended December 31, 2023 and 2022 amounted to $128,737 and $120,117, respectively.

NOTE 7 –LOANS PAYABLE

Loans payable at December 31, 2023 and 2022 consisted of the following:

	December 31,			December 31,				Interest
	2023			2022			Term	rate
Martus	$	103,738		$	94,342		Note was issued on October 23, 2018 and due on January 2, 2024		5.0	%
Darlene Covid19		99,099			108,150		Note was issued on April 1, 2020 and due on March 31, 2025		0.0	%
Promissory note payable		165,000			—		Note was issued April 4, 2023 and due on April 4, 2024		24.0	%
Promissory note payable		256,760			—		Note was issued December 6, 2023 and due on October 15, 2024		12.0	%
Total		624,597			202,492
Less: Unamortized debt discount		(32,334	)		—
Total loans payable		592,263			202,492
Less: Current portion of loans payable		(493,164	)		(94,342	)
Long-term loans payable	$	99,099		$	108,150

Loans payable - related parties at December 31, 2023 and 2022 consisted of the following:

	December 31,		December 31,			Interest
	2023		2022		Term	rate
49% of Shareholder of SwissLink	$	21,606	$	19,649	Note is due on demand		0	%
49% of Shareholder of SwissLink		237,841		216,300	Note is due on demand		5	%
Total		259,447		235,949
Less: Current portion of loans payable –related parties		259,447		235,949
Long-term loans payable – related parties	$	—	$	—

During the years ended December 31, 2023 and 2022, the Company borrowed from third parties totaling $421,760 and $0, which includes original issue discount and financing costs of $46,760 and $0 and repaid the principal amount of $18,559 and $232,018, respectively.

During the years ended December 31, 2023 and 2022, the Company recorded interest expense of $32,231 and $22,234 and recognized amortization of discount, included in interest expense, of $14,426 and $7,407, respectively.