XML 35 R23.htm IDEA: XBRL DOCUMENT
v3.25.1

NOTE 17 - SEGMENT | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
NOTE 17 - SEGMENT | NOTE 17 - SEGMENT The Company operates in one industry segment, telecommunication services, and three geographic segments, USA, UK and Switzerland, where current assets and equipment are located. The Company's chief operating decision maker ("CODM") is its chief financial officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. The CODM uses operating activities and net assets to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the rate at which the Company seeks to grow, the allocation of budget between cost of sales and operating expenses and the management of assets. Operating Activities The following table shows operating activities information by geographic segment for the years ended December 31, 2024 and 2023: NOTE 17 - SEGMENT - Geographic Segment (Details) Year ended December 31, 2024
|  | USA |  | Switzerland |  | UK |  | Elimination |  | Total
Revenues |  | $ | 197,007,636 |  |  | $ | 13,349,998 |  |  | $ | 95,681,790 |  |  | $ | (22,818,982 | ) |  | $ | 283,220,442 |
Cost of revenue |  |  | 192,460,109 |  |  |  | 12,541,394 |  |  |  | 92,486,843 |  |  |  | (22,539,653 | ) |  |  | 274,948,693 |
Gross profit |  |  | 4,547,527 |  |  |  | 808,604 |  |  |  | 3,194,947 |  |  |  | (279,329 | ) |  |  | 8,271,749 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, Wages and Benefits |  |  | 1,699,833 |  |  |  | 238,334 |  |  |  | 1,025,547 |  |  |  | — |  |  |  | 2,963,714 |
Technology |  |  | 683,620 |  |  |  | 331,149 |  |  |  | 370,725 |  |  |  | (193,309 | ) |  |  | 1,192,185 |
Professional Fees |  |  | 1,110,773 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,110,773 |
Legal and Regulatory |  |  | 273,840 |  |  |  | 11,399 |  |  |  | 43,261 |  |  |  | — |  |  |  | 328,500 |
Travel & Events |  |  | 126,623 |  |  |  | 29,962 |  |  |  | 77,710 |  |  |  | — |  |  |  | 234,295 |
Public Cost |  |  | 102,773 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 102,773 |
Bad Debt Expense |  |  | 1,991 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,991 |
Depreciation and Amortization |  |  | 26,943 |  |  |  | 111,654 |  |  |  | — |  |  |  | 360,938 |  |  |  | 499,535 |
Advertising |  |  | 968,206 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 968,206 |
Bank Services and Fees |  |  | 59,848 |  |  |  | 72,246 |  |  |  | 79,497 |  |  |  | — |  |  |  | 211,591 |
Office, Facility and Other |  |  | 309,278 |  |  |  | 29,550 |  |  |  | 211,064 |  |  |  | (20,000 | ) |  |  | 529,892 |
Sales Commissions |  |  | 231,125 |  |  |  | 149,939 |  |  |  | 360,561 |  |  |  | (66,020 | ) |  |  | 675,605 |
Insurance |  |  | 4,458 |  |  |  | — |  |  |  | 59,076 |  |  |  | — |  |  |  | 63,534 |
Stock-based compensation |  |  | 223,219 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 223,219 |
Total Operating Expenses |  |  | 5,822,530 |  |  |  | 974,233 |  |  |  | 2,227,441 |  |  |  | 81,609 |  |  |  | 9,105,813 |
Operating income (loss) |  |  | (1,275,003 | ) |  |  | (165,629 | ) |  |  | 967,506 |  |  |  | (360,938 | ) |  |  | (834,064 | )
Other income (expense) |  |  | (3,961,170 | ) |  |  | 28,801 |  |  |  | (19,573 | ) |  |  | — |  |  |  | (3,951,942 | )
Income tax expense |  |  | — |  |  |  | (183,808 | ) |  |  | (210,222 | ) |  |  | — |  |  |  | (394,030 | )
Net income (loss) |  | $ | (5,236,173 | ) |  | $ | (320,636 | ) |  | $ | 737,711 |  |  | $ | — |  |  | $ | (5,180,036 | )
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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, Wages and Benefits |  |  | 1,083,748 |  |  |  | 476,618 |  |  |  | — |  |  |  | 1,560,366 |
Technology |  |  | 328,710 |  |  |  | — |  |  |  | — |  |  |  | 328,710 |
Professional Fees |  |  | 1,283,351 |  |  |  | — |  |  |  | — |  |  |  | 1,283,351 |
Legal and Regulatory |  |  | 256,537 |  |  |  | — |  |  |  | — |  |  |  | 256,537 |
Travel & Events |  |  | 116,637 |  |  |  | 19,414 |  |  |  | — |  |  |  | 136,051 |
Public Cost |  |  | 36,349 |  |  |  | — |  |  |  | — |  |  |  | 36,349 |
Bad Debt Expense |  |  | 8,815 |  |  |  | — |  |  |  | — |  |  |  | 8,815 |
Depreciation and Amortization |  |  | 51,047 |  |  |  | 77,690 |  |  |  | — |  |  |  | 128,737 |
Advertising |  |  | 595,298 |  |  |  | — |  |  |  | — |  |  |  | 595,298 |
Bank Services and Fees |  |  | 51,523 |  |  |  | 25,769 |  |  |  | — |  |  |  | 77,292 |
Office, Facility and Other |  |  | 185,156 |  |  |  | 124,220 |  |  |  | — |  |  |  | 309,376 |
Sales Commissions |  |  | 211,830 |  |  |  | — |  |  |  | — |  |  |  | 211,830 |
Insurance |  |  | 11,914 |  |  |  | — |  |  |  | — |  |  |  | 11,914 |
Stock-based compensation |  |  | 42,890 |  |  |  | — |  |  |  | — |  |  |  | 42,890 |
Total Operating Expenses |  |  | 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 | ) |  | $ | 0 |  |  | $ | (219,436 | )
Asset Information The following table shows asset information by geographic segment as of December 31, 2024 and 2023:
December 31, 2024 |  | USA |  | Switzerland |  | UK |  | Elimination |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 19,885,086 |  |  | $ | 8,055,475 |  |  | $ | 48,182,373 |  |  | $ | (13,107,888 | ) |  | $ | 63,015,046 |
Non-current assets |  | $ | 19,447,105 |  |  | $ | 633,491 |  |  | $ | 8,096,658 |  |  | $ | (12,184,562 | ) |  | $ | 15,992,692 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 21,386,520 |  |  | $ | 8,415,705 |  |  | $ | 47,126,859 |  |  | $ | (13,107,888 | ) |  | $ | 63,821,196 |
Non-current liabilities |  | $ | 3,012,066 |  |  | $ | 169,599 |  |  | $ | 104,614 |  |  | $ | — |  |  | $ | 3,286,279 |
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 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration