| Schedule of Operating Segment |
The following table presents the significant revenue and expense categories of the Company’s single operating segment:
| | |
For the Three Months Ended | | |
For the Six Months Ended | |
| | |
June 30,
2025 | | |
June 30,
2024 | | |
June 30,
2025 | | |
June 30,
2024 | |
| | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
| Revenues | |
$ | 484,009 | | |
$ | 3,404,967 | | |
$ | 1,590,828 | | |
$ | 5,609,687 | |
| Less: | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| 455,051 | | |
| 2,952,747 | | |
| 1,386,570 | | |
| 4,845,150 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | |
| Salary and benefits expenses | |
| 285,748 | | |
| 536,751 | | |
| 671,551 | | |
| 975,951 | |
| Professional fees | |
| 225,084 | | |
| 615,572 | | |
| 760,206 | | |
| 932,139 | |
| Stock-based compensation | |
| 60,957 | | |
| 195,908 | | |
| 143,494 | | |
| 367,805 | |
| Other selling, general and administrative | |
| 453,836 | | |
| 374,484 | | |
| 763,485 | | |
| 751,639 | |
| Provision for credit losses | |
| 155,985 | | |
| 14,176 | | |
| 179,267 | | |
| 24,391 | |
| Other expenses (income): | |
| | | |
| | | |
| | | |
| | |
| Interest expense, net | |
| 606,326 | | |
| 486,586 | | |
| 1,503,343 | | |
| 788,975 | |
| Non cash finance expense | |
| - | | |
| - | | |
| - | | |
| 1,000,000 | |
| Gain on loan extinguishment | |
| - | | |
| - | | |
| (40,000 | ) | |
| - | |
| Other segment expense (income) | |
| 11,960 | | |
| (3,738 | ) | |
| 11,960 | | |
| (3,738 | ) |
| Income taxes | |
| - | | |
| 800 | | |
| 1,700 | | |
| 2,500 | |
| Net loss | |
$ | (1,770,937 | ) | |
$ | (1,768,319 | ) | |
$ | (3,790,748 | ) | |
$ | (4,075,125 | ) |
|