Quarterly report [Sections 13 or 15(d)]

Summary of Significant Accounting Policies (Tables)

v3.25.2
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Schedule of changes in equity investments measured at fair value
               
    Six Months Ended June 30,
    2025   2024
Balance, beginning of period   $ 11,261,006     $

11,318,196

  
Purchase of equity investments     224,173      

295,810

  
Sales of equity investments     (975,000 )    

(400,000

 )
Balance, end of period   $ 10,510,179     $ 11,214,006  
Schedule of Changes in the allowance for expected credit losses for trade accounts receivable
               
    Six Months Ended June 30,
    2025   2024
Beginning balance   $ 31,472     $ 7,915  
Provision     66,055       21,816  
Write-offs     (81,222 )     (7,135 )
Ending balance   $ 16,305     $ 22,596  
Schedule of revenue is disaggregated by major product
                                               
    Three Months Ended June 30, 2025   Three Months Ended June 30, 2024
    United States   International   Total   United States   International   Total
Cloud infrastructure & disaster recovery   $ 3,156,550     $ 202,391     $ 3,358,941     $ 3,037,184     $ 128,532     $ 3,165,716  
Equipment and software     687,321       —       687,321       782,303       —       782,303  
Managed services     725,560       13,300       738,860       642,518       —       642,518  
Nexxis VoIP services     323,620       —       323,620       275,830       —       275,830  
Other sales     38,180     —       38,180     44,125       —       44,125  
Total Sales   $ 4,931,231     $ 215,691     $ 5,146,922     $ 4,781,960     $ 128,532     $ 4,910,492  

 

    Six Months Ended June 30, 2025   Six Months Ended June 30, 2024
    United States   International   Total   United States   International   Total
Cloud infrastructure & disaster recovery   $ 6,295,391     $ 422,628     $ 6,718,019     $ 5,890,433     $ 228,178     $ 6,118,611  
Equipment and software     4,252,240       —       4,252,240       4,866,950       —       4,866,950  
Managed services     1,537,466       13,300       1,550,766       1,485,925       —       1,485,925  
Nexxis VoIP services     631,436       —       631,436       552,297       —       552,297  
Other sales     78,217       —       78,217       112,018       10,438       122,456  
Total Sales   $ 12,794,750     $ 435,928     $ 13,230,678     $ 12,907,623     $ 238,616     $ 13,146,239  

The following table presents timing of revenue recognition by product type:

 

   

Three Months Ended

June 30,

  

Six Months Ended

June 30,
    2025   2024   2025   2024
Products transferred at a point in time   $ 660,104     $ 3,943,429     $ 4,265,060     $ 4,989,406  
Products and services transferred over time     4,486,818       967,063       8,965,618       8,156,833  
Total Sales   $ 5,146,922     $ 4,910,492     $ 13,230,678     $ 13,146,239  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
                                 
    Three Months Ended
June 30,		   Six Months Ended
June 30,
    2025   2024   2025   2024
                 
Net Income (Loss) Available to Common Shareholders   $ (733,049 )   $ (244,240 )   $ (708,971 )   $ 112,862  
                                 
Weighted average number of common shares - basic     7,155,464       6,973,068       7,119,102       6,902,138  
Dilutive securities:                                
Options     —       —       —       363,326  
Warrants     —       —       —       —  
Restricted stock units     —       —       —       234,375  
Weighted average number of common shares - diluted     7,155,464       6,973,068       7,119,102       7,499,839  
                                 
Earnings (Loss) per share, basic   $ (0.10 )   $ (0.04 )   $ (0.10 )   $ 0.02  
Earnings (Loss) per share, diluted   $ (0.10 )   $ (0.04 )   $ (0.10 )   $ 0.02  
Schedule of anti-dilutive shares
                               
    Three Months Ended
June 30,		   Six Months Ended
June 30,
    2025   2024   2025   2024
Options     662,789       701,346       635,222       338,020  
Warrants     2,495,860       2,495,860       2,495,860       2,495,860  
Restricted stock units     95,773       234,375       80,771       —  
      3,254,422       3,431,581       3,211,853       2,833,880