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NOTE 4 - ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

NOTE 4 - ACQUISITIONS - Yukon River Holdings Consideration

		April 1,
Fair Value of Consideration:		2024
Cash		$	3,000,000
Promissory note			2,000,000
Contingent liability			1,000,000
Total Purchase Price		$	6,000,000

NOTE 4 - ACQUISITIONS - Yukon River Holdings - QXTEL - Assets and Liabilities Acquired

Total purchase price		$	6,000,000
Cash			769,879
Accounts receivable			14,946,919
Due from related party			208,550
Other asset			214,564
Equipment			30,963
Total identifiable assets			16,170,875
Accounts payable			(14,796,505	)
Other current liabilities			(403,584	)
Total liabilities assumed			(15,200,089	)
Net assets			970,786
Intangible assets recognized			7,700,000
Non-controlling interest - 49%			(4,248,685)
Total net assets			4,422,101
Goodwill		$	1,577,899

NOTE 4 - ACQUISITIONS - Unaudited Pro Forma Results of Operations QXTEL

		Years Ended
		December 31,
		2024				2023
Revenues		$	310,903,903			$	225,999,964
Cost of revenues			302,110,691				217,445,017
Gross profit			8,793,212				8,554,947
Operating expenses			9,734,475				7,557,105
Operating (loss) income			(941,263	)			997,842
Other (expense) income			(3,951,942	)			96,067
Income tax			(394,030	)			(235,564	)
Net (loss) income		$	(5,287,235	)		$	858,345

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- Definition

Tabular disclosure of contingent consideration in asset acquisition.

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-Topic 805
-SubTopic 50
-Name Accounting Standards Codification
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