XML 18 R8.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Note 2 - Going Concern | 9 Months Ended
--- | ---
Sep. 30, 2022
Notes to Financial Statements |
Substantial Doubt about Going Concern [Text Block] |
2. | GOING CONCERN
The Company has historically financed our operations through access to the capital markets by issuing convertible debt securities, convertible preferred stock, common stock, and through factoring receivables. The Company currently requires approximately $814,000 per month to conduct operations, a monthly amount that it has been unable to consistently achieve through revenue generation. During the first nine months of 2022, the Company generated $5,261,835 of revenue, which is below its average monthly requirements. Given the uncertainty of the duration and severity of the current COVID-19 pandemic and the conflict between Ukraine and Russia and their effects on the Company’s business operations, sales cycles, personnel, and the geographic markets in which the Company operates, and numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature, the related financial impact cannot be reasonably estimated at this time. As of the date of this report, the Company does not have enough cash for twelve months of operations, but expects to increase cash through increased sales by year-end. Our total cash balance as of September 30, 2022 was approximately $2.8 million, with an additional $1,808,036 in trade accounts receivables, which we expect to collect by the beginning of December. In addition, the Company continues to hold approximately $4.9 million in inventory which the Company expects to convert 50 % to cash over the ensuing 6 months. With the addition of the Swivel Secure Europe, SA (“Swivel Secure”), the Company expects additional cash flows in excess of $1 million annually (see Note 4), based on Swivel Secure’s current recurring revenue and expense projections.

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

X
- Definition The entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 40 -URI https://asc.fasb.org/subtopic&trid=51888271 + Details
Name: | us-gaap_SubstantialDoubtAboutGoingConcernTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration