General form of registration statement for all companies including face-amount certificate companies

Summary of Significant Accounting Policies (Tables)

v3.21.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Summary Of Significant Accounting Policies  
Schedule of revenue is disaggregated by major product

In the following table, revenue is disaggregated by major product line, geography, and timing of revenue recognition.

 

For the Year
Ended December 31, 2020
    United States     International     Total  
Infrastructure & Disaster Recovery/Cloud Service   $ 5,691,133     $ 115,237     $ 5,806,370  
Equipment and Software     2,074,911       -       2,074,911  
Managed Services     380,701       -       380,701  
Professional Fees     362,375       -       362,375  
Nexxis VoIP Services     696,576       -       696,576  
Total Revenue   $ 9,205,696     $ 115,237     $ 9,320,933  

 

For the Year
Ended December 31, 2019
    United States     International     Total  
Infrastructure & Disaster Recovery/Cloud Service   $ 5,223,868     $ 213,816     $ 5,437,684  
Equipment and Software     1,784,658             1,784,658  
Managed Services     365,767             365,767  
Professional Fees     411,475             411,475  
Nexxis VoIP Services     484,024             484,024  
Total Revenue   $ 8,269,792     $ 213,816     $ 8,483,608  

 

For the Year
Ended December 31,
Timing of revenue recognition   2020     2019  
Products transferred at a point in time   $ 2,817,987     $ 2,196,133  
Products and services transferred over time     6,502,946       6,287,475  
Total Revenue   $ 9,320,933     $ 8,483,608  

 

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the information needed to compute basic and diluted earnings per share for the years ended December 31, 2020 and 2019:

 

    December 31,  
    2020     2019  
Net Income (Loss) Available to Common Shareholders   $ 55,339     $ (54,452 )
                 
Weighted average number of common shares - basic     128,526,267       128,156,678  
Dilutive securities                
Options     5,980,818       --  
Warrants     133,334       --  
Weighted average number of common shares - diluted     134,640,419       128,156,678  
                 
Earnings (Loss) per share, basic   $ 0.00     $ 0.00  
Earnings (Loss) per share, diluted   $ 0.00     $ 0.00  
Schedule of anti-dilutive income (loss) per share

The following table sets forth the number of potential shares of common stock that have been excluded from diluted net income (loss) per share net income (loss) per share because their effect was anti-dilutive:

 

    December 31,  
    2020     2019  
Options     2,325,168       8,425,824  
Warrants     133,334       133,334  
      2,458,502       8,425,824