Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.23.1
Segment reporting
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segment reporting

Note 12 – Segment reporting

                         
    Three Months Ended March 31, 2023  
   

Corporate

and R&D

    

IoT

Products		    

IoT Installation

Services		     Total  
                         
Revenue   $ –     $ 13,281     $ 222,814     $ 236,095  
Revenue – related party     –       –       –       –  
Total revenue     –       13,281       222,814       236,095  
                                 
Cost of revenue     –       8,803       171,941       180,744  
                                 
Gross Profit     –       4,478       50,873       55,351  
                                 
Operating Expenses                                
Selling expense     5,248       2,875       3,736       11,859  
Compensation – officers and directors     307,534       –       –       307,534  
Research and development     276,481       –       –       276,481  
Professional fees     257,399       –       –       257,399  
General and administrative     390,998       3,546       48,508       443,052  
Total Cost and Operating Expenses     1,237,660       6,421       52,244       1,296,325  
                                 
Loss from Operations     (1,237,660 )     (1,943 )     (1,371 )     (1,240,974 )
                                 
Other Income (Expense):                                
Interest income (expense), net     14,475       1       (40 )     14,436  
Gain on bargain purchase     61,747       –       –       61,747  
Unrealized loss on marketable equity securities     32,570       –       –       32,570  
Realized loss on marketable equity securities     (14,901 )     –       –       (14,901 )
Rental income     39,952       –       –       39,952  
Other income (expense), net     (5,008 )     108       (2,173 )     (7,073 )
Total other income (expense)     128,835       109       (2,213 )     126,731  
                                 
Loss before income taxes     (1,108,825 )     (1,834 )     (3,585 )     (1,114,243 )
                                 
Tax expense     –       –       –       –  
                                 
Net Loss   $ (1,108,825 )   $ (1,834 )   $ (3,585 )   $ (1,114,243 )

 

 

 

                         
    Three Months Ended March 31, 2022  
   

Corporate

and R&D

    

IoT

Products		    

IoT Installation

Services		     Total  
                         
Revenue   $ –     $ 40,500     $ 85,125     $ 125,625  
Revenue – related party     –       31,542       –       31,542  
Total revenue     –       72,042       85,125       157,167  
                                 
Cost of revenue     –       59,409       84,114       143,523  
                                 
Gross Profit     –       12,633       1,011       13,644  
                                 
Operating Expenses                                
Selling expense     –       34,001       4,338       38,339  
Compensation – officers and directors     325,665       –       –       325,665  
Research and development     561,744       –       –       561,744  
Professional fees     360,866       –       –       360,866  
General and administrative     261,189       333,907       55,795       650,891  
Total Cost and Operating Expenses     1,509,464       367,908       60,133       1,937,505  
                                 
Loss from Operations     (1,509,464 )     (355,275 )     (59,122 )     (1,923,861 )
                                 
Other Income (Expense):                                
Interest income (expense), net     282       (288 )     –       (6 )
Gain on bargain purchase     –       –       –       –  
Unrealized loss on marketable equity securities     –       –       –       –  
Realized loss on marketable equity securities     –       –       –       –  
Rental income     46,372       –       –       46,372  
Other income (expense), net     11,029       –       (2,464 )     8,565  
Total other income (expense)     57,683       (288 )     (2,464 )     54,931  
                                 
Loss before income taxes     (1,451,781 )     (355,563 )     (61,586 )     (1,868,930 )
                                 
Tax expense     –       –       –       –  
                                 
Net Loss   $ (1,451,781 )   $ (355,563 )   $ (61,586 )   $ (1,868,930 )