Summary of Significant Accounting Policies (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
Accounting Policies [Abstract] |
|
Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed |
The
table below summarizes the estimated fair value of the assets acquired and the liabilities assumed at the effective acquisition date.
Schedule
of Estimated Fair Value of Assets Acquired and Liabilities Assumed
Consideration | |
| | |
Cash | |
$ | 2,500,000 | |
| |
| | |
Fair value of consideration transferred | |
| 2,500,000 | |
| |
| | |
Recognized amounts of identifiable assets acquired and liabilities assumed: | |
| | |
| |
| | |
Right-of-use operating lease | |
| 98,638 | |
Total assets acquired | |
| 98,638 | |
| |
| | |
Right-of-use operating lease | |
| 98,638 | |
Total liabilities assumed | |
| 98,638 | |
| |
| | |
Total identifiable net assets | |
| - | |
| |
| | |
Goodwill | |
$ | 2,500,000 | |
|
Schedule of Receivables |
Payments
were scheduled as follows:
Schedule
of Receivables
For the Year Ended December 31, | |
| | |
In Default | |
2025 | |
| 186,525 | ** | |
$ | 164,142 | |
| |
| 186,525 | | |
| | |
Less: amount representing interest | |
| (9,674 | ) | |
| | |
Total | |
$ | 176,851 | | |
| | |
|
Schedule of Marketable Securities |
Marketable
securities were as follows at December 31, 2024:
Schedule
of Marketable Securities
| |
U.S. Treasury & Government | |
| |
Exchange Traded Funds | |
| |
Fixed Income | |
Balance - December 31, 2023 | |
$ | - | |
Sales | |
| (10,173,057 | ) |
Realized gains | |
| 13,613 | |
Dividends, interest and other income | |
| 169,306 | |
Fees/adjustments | |
| (9,862 | ) |
Balance - December 31, 2024 | |
$ | - | |
|
Schedule of Disaggregation of Revenue from Contracts with Customers |
The
following represents the Company’s disaggregation of revenues for the three months ended March 31, 2025 and 2024:
Schedule
of Disaggregation of Revenue from Contracts with Customers
| |
For the Three Months Ended March 31, | |
| |
2025 | | |
2024 | |
| |
| | |
| | |
| | |
| |
Revenue | |
Revenue | | |
% of Revenues | | |
Revenue | | |
% of Revenues | |
| |
| | |
| | |
| | |
| |
Mobile Virtual Network Operators | |
$ | 2,285,823 | | |
| 21.61 | % | |
$ | 28,892,590 | | |
| 91.93 | % |
Comprehensive Platform Services | |
| 8,291,606 | | |
| 78.39 | % | |
| 2,530,589 | | |
| 8.05 | % |
Other Corporate Overhead | |
| - | | |
| 0.00 | % | |
| 5,956 | | |
| 0.02 | % |
Total Revenues | |
$ | 10,577,429 | | |
| 100.00 | % | |
$ | 31,429,135 | | |
| 100.00 | % |
|
Schedule of Investment |
The
following is a summary of our investment at December 31, 2024:
Schedule
of Investment
Balance - December 31, 2023 | |
$ | 464,409 | |
Gain on investment in CenterCom | |
| 33,864 | |
Impairment loss - CenterCom | |
| (498,273 | ) |
Balance - December 31, 2024 | |
$ | - | |
|
Schedule of Marketing and Advertising Costs |
The
Company recognized marketing and advertising costs during the three months ended March 31, 2025 and 2024, respectively, as follows:
Schedule
of Marketing and Advertising Costs
For the Three Months Ended March 31, | |
2025 | | |
2024 | |
$ | 23,480 | | |
$ | 16,806 | |
|
Schedule of Diluted Net Income (Loss) Per Share |
The
following potentially dilutive equity securities were outstanding as of March 31, 2025 and 2024:
Schedule
of Diluted Net Income (Loss) Per Share
| |
March 31, 2025 | | |
March 31, 2024 | |
Warrants | |
| 93,000 | | |
| 3,619,278 | |
Stock options | |
| 1,166,081 | | |
| 121,276 | |
Total common stock equivalents | |
| 1,259,081 | | |
| 3,740,554 | |
|
Schedule of Earnings per Share Basic and Diluted |
The
following table shows the computation of basic and diluted earnings per share for the three months ended March 31, 2025 and 2024:
Schedule
of Earnings per Share Basic and Diluted
| |
Three Months Ended | | |
Three Months Ended | |
| |
March 31, 2025 | | |
March 31, 2024 | |
| |
| | |
| |
Numerator | |
| | | |
| | |
Net income (loss) available to common stockholders | |
$ | (7,635,084 | ) | |
$ | 1,224,595 | |
| |
| | | |
| | |
Denominator | |
| | | |
| | |
Weighted average shares outstanding - basic | |
| 20,068,929 | | |
| 17,693,283 | |
Effect of dilutive securities | |
| - | | |
| 984,853 | |
Weighted average shares outstanding - diluted | |
| 20,068,929 | | |
| 18,678,136 | |
| |
| | | |
| | |
Earnings (loss) per share - basic | |
$ | (0.38 | ) | |
$ | 0.07 | |
Earnings (loss) per share - diluted | |
$ | (0.38 | ) | |
$ | 0.07 | |
|
Schedule of Related Party Expenses |
During
the three months ended March 31, 2025 and 2024, respectively, the Company incurred expenses with a related party (annual rental agreement)
in the normal course of business as follows:
Schedule
of Related Party Expenses
Related Party | |
March 31, 2025 | | |
March 31, 2024 | |
Carddawg Investments, Inc. | |
| 41,589 | | |
| 41,589 | 1 |
Total | |
$ | 41,589 | | |
$ | 41,589 | |
1 | | - represents an
affiliate of our Chief Executive Officer (Kevin Brian Cox) |
|