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

NOTE 15 - SEGMENT

 

At December 31, 2023 and 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 years ended December 31, 2023 and 2022:

 

Year ended December 31, 2023

                                 
   USA  Switzerland  Elimination  Total
Revenues  $144,466,050    5,530,738   $(5,494,437)  $144,502,351 
Cost of revenue   140,610,403    4,714,372    (5,494,437)   139,830,338 
Gross profit   3,855,647    816,366    —      4,672,013 
                     
Operating expenses                    
General and administration   4,263,805    723,711    —      4,987,516 
                     
Operating income (loss)   (408,158)   92,655    —      (315,503)
                     
Other income (expense)   189,284    (93,217)   —      96,067 
                     
Net income (loss)  $(218,874)  $(562)  $—     $(219,436)

 

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 )

  

 

Asset Information

 

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

                                 
December 31, 2023  USA  Switzerland  Elimination  Total
Assets                    
Current assets  $14,537,969   $1,874,627   $(693,424)  $15,719,172 
Non-current assets  $11,810,606   $810,437   $(6,184,562)  $6,436,481 
Liabilities                    
Current liabilities  $11,978,244   $2,556,124   $(693,424)  $13,840,944 
Non-current liabilities  $139   $268,698   $—     $268,837 

 

                                 
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