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4. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies)
 12 Months Ended
Dec. 31, 2024
Policies  
Use of Estimates

Use of estimates

The preparation of our financial statements, which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in our financial statements and accompanying notes. Estimates and underlying assumptions are reviewed periodically, and the effects of revisions are reflected in the period in which they are determined to be necessary. In preparing the financial statements, management makes estimates and assumptions regarding:

 

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the adequacy of the allowance for doubtful accounts;

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the fair value of stock options and warrants issued;

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accounting for income taxes and any related variation allowance;

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impairment of long-lived assets, including intangibles;

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any changes to regulatory compliance; and

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other matters that affect reported amounts and disclosures of contingencies in the financial statements.

 

Other sources of estimation uncertainty that have a significant risk of a material adjustment to the carrying amounts of assets and liabilities within the next financial year are specifically identified as a significant estimate. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates and assumptions. Furthermore, when testing assets for impairment in future periods, if management uses different assumptions or if different conditions occur, impairment charges may result.