v3.25.1
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.

 

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:

 

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:

 

   U.S. Treasury & Government 
   Exchange Traded Funds 
   Fixed Income 
Balance - December 31, 2023  $- 
Purchases   10,000,000 
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:

 

   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:

 

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:

 

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:

 

   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:

 

   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:

 

Related Party  March 31, 2025   March 31, 2024 
Carddawg Investments, Inc.   41,589    41,5891
Total  $41,589   $41,589 

 

1- represents an affiliate of our Chief Executive Officer (Kevin Brian Cox)