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NOTE 14 - SEGMENT | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
NOTE 14 - SEGMENT | NOTE 14 - 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 three months ended March 31, 2025 and 2024: Three months ended March 31, 2025
NOTE 14 - SEGMENT - Operating Activities by Geographic Segment (Details) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | USA |  | Switzerland |  | UK |  | Elimination |  | Total
Revenues |  | $ | 38,537,798 |  |  | $ | 1,349,162 |  |  | $ | 31,154,997 |  |  | $ | (13,409,141 | ) |  | $ | 57,632,816 |
Cost of revenue |  |  | 37,688,315 |  |  |  | 1,080,854 |  |  |  | 30,325,933 |  |  |  | (13,397,244 | ) |  |  | 55,697,858 |
Gross profit |  |  | 849,483 |  |  |  | 268,308 |  |  |  | 829,064 |  |  |  | (11,897 | ) |  |  | 1,934,958 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, Wages and Benefits |  |  | 439,393 |  |  |  | 95,449 |  |  |  | 426,283 |  |  |  | (5,966 | ) |  |  | 955,159 |
Technology |  |  | 194,115 |  |  |  | 94,254 |  |  |  | 148,154 |  |  |  | (10,930 | ) |  |  | 425,593 |
Professional Fees |  |  | 309,049 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 309,049 |
Legal and Regulatory |  |  | 166,438 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 166,438 |
Travel and Events |  |  | 18,505 |  |  |  | 4,291 |  |  |  | 67,601 |  |  |  | (1,347 | ) |  |  | 89,050 |
Public Cost |  |  | 66,559 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 66,559 |
Advertising |  |  | 210,523 |  |  |  | 8,357 |  |  |  | — |  |  |  | — |  |  |  | 218,880 |
Bank Services and Fees |  |  | 13,485 |  |  |  | (21,499 | ) |  |  | 29,455 |  |  |  | — |  |  |  | 21,441 |
Depreciation and Amortization |  |  | 6,682 |  |  |  | — |  |  |  | — |  |  |  | 120,313 |  |  |  | 126,995 |
Office, Facility and Other |  |  | 52,312 |  |  |  | 4,969 |  |  |  | 69,021 |  |  |  | — |  |  |  | 126,302 |
Insurance |  |  | 903 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 903 |
Stock-based compensation |  |  | 32,815 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32,815 |
General and administration |  |  | 1,510,779 |  |  |  | 185,821 |  |  |  | 740,514 |  |  |  | 102,070 |  |  |  | 2,539,184 |
Operating income (loss) |  |  | (661,296 | ) |  |  | 82,487 |  |  |  | 88,550 |  |  |  | (113,967 | ) |  |  | (604,226 | )
Other income (expense) |  |  | (464,389 | ) |  |  | 8,602 |  |  |  | (6,527 | ) |  |  | (57,346 | ) |  |  | (519,660 | )
Income tax expense |  |  | — |  |  |  | — |  |  |  | (20,575 | ) |  |  | — |  |  |  | (20,575 | )
Net income (loss) |  | $ | (1,125,685 | ) |  | $ | 91,089 |  |  | $ | 61,448 |  |  | $ | (171,313 | ) |  | $ | (1,144,461 | )
Three months ended March 31, 2024
|  | USA |  | Switzerland |  | Elimination |  | Total
Revenues |  | $ | 52,111,257 |  |  | $ | 1,035,919 |  |  | $ | (1,732,298 | ) |  | $ | 51,414,878 |
Cost of revenue |  |  | 50,931,826 |  |  |  | 836,324 |  |  |  | (1,732,298 | ) |  |  | 50,035,852 |
Gross profit |  |  | 1,179,431 |  |  |  | 199,595 |  |  |  | — |  |  |  | 1,379,026 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, Wages and Benefits |  |  | 336,283 |  |  |  | 39,143 |  |  |  | — |  |  |  | 375,426 |
Technology |  |  | 162,585 |  |  |  | 58,878 |  |  |  | — |  |  |  | 221,463 |
Professional Fees |  |  | 449,219 |  |  |  | 54,353 |  |  |  | — |  |  |  | 503,572 |
Legal and Regulatory |  |  | 30,579 |  |  |  | 1,585 |  |  |  | — |  |  |  | 32,164 |
Travel and Events |  |  | 26,262 |  |  |  | 9,474 |  |  |  | — |  |  |  | 35,736 |
Public Cost |  |  | 71,930 |  |  |  | — |  |  |  | — |  |  |  | 71,930 |
Advertising |  |  | 184,740 |  |  |  | — |  |  |  | — |  |  |  | 184,740 |
Bank Services and Fees |  |  | 13,655 |  |  |  | 6,081 |  |  |  | — |  |  |  | 19,736 |
Depreciation and Amortization |  |  | 6,897 |  |  |  | 28,264 |  |  |  | — |  |  |  | 35,161 |
Office, Facility and Other |  |  | 41,270 |  |  |  | 8,692 |  |  |  | — |  |  |  | 49,962 |
Insurance |  |  | 798 |  |  |  | — |  |  |  | — |  |  |  | 798 |
Bad Debt Expense |  |  | 725 |  |  |  | — |  |  |  | — |  |  |  | 725 |
Stock-based compensation |  |  | 31,065 |  |  |  | — |  |  |  | — |  |  |  | 31,065 |
General and administration |  |  | 1,356,008 |  |  |  | 206,470 |  |  |  | — |  |  |  | 1,562,478 |
Operating loss |  |  | (176,577 | ) |  |  | (6,875 | ) |  |  | — |  |  |  | (183,452 | )
Other income (expense) |  |  | (435,483 | ) |  |  | 38,719 |  |  |  | — |  |  |  | (396,764 | )
Income tax expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) |  | $ | (612,060 | ) |  | $ | 31,844 |  |  | $ | — |  |  | $ | (580,216 | )
Asset Information The following table shows asset information by geographic segment as of March 31, 2025 and December 31, 2024:
March 31, 2025 |  | USA |  | Switzerland |  | UK |  | Elimination |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 10,013,446 |  |  | $ | 1,418,754 |  |  | $ | 17,379,422 |  |  | $ | (2,767,823 | ) |  | $ | 26,043,799 |
Non-current assets |  | $ | 19,534,109 |  |  | $ | 647,750 |  |  | $ | 7,979,269 |  |  | $ | (12,184,562 | ) |  | $ | 15,976,566 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 14,306,932 |  |  | $ | 2,266,209 |  |  | $ | 16,474,323 |  |  | $ | (2,767,823 | ) |  | $ | 30,279,641 |
Non-current liabilities |  | $ | 140 |  |  | $ | 169,599 |  |  | $ | 15,319 |  |  | $ | — |  |  | $ | 185,058 |
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 |

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