Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Schedule of changes in equity investments measured at fair value
       
    For the year ended December 31, 2023
    Total
As of January 1, 2023   $ 9,010,968  
Purchase of equity investments     2,307,228  
As of December 31, 2023   $ 11,318,196  

 

    For the six months ended June 30, 2024
    Total
As of December 31, 2023   $ 11,318,196  
Purchase of equity investments     295,810  
Sale of equity investments     (400,000 )
As of June 30, 2024   $ 11,214,006  
Schedule of revenue is disaggregated by major product
           
    United States   International   Total
Infrastructure & Disaster Recovery/Cloud Service   $ 3,037,184     $ 128,532     $ 3,165,716  
Equipment and Software     782,303       —       782,303  
Managed Services     642,518       —       642,518  
Nexxis VoIP Services     275,830       —       275,830  
Other     44,125       —       44,125  
Total Sales   $ 4,781,960     $ 128,532     $ 4,910,492  

 

For the Three Months
Ended June 30, 2023

 

    United States   International   Total
Infrastructure & Disaster Recovery/Cloud Service   $ 2,366,601     $ 51,584     $ 2,418,185  
Equipment and Software     2,379,822       —       2,379,822  
Managed Services     791,816       34,927       826,743  
Nexxis VoIP Services     240,712       —       240,712  
Other     38,929       —       38,929  
Total Sales   $ 5,817,880     $ 86,511     $ 5,904,391  

 

For the Three Months
Ended June 30,

 

Timing of revenue recognition   2024   2023
Products transferred at a point in time   $ 826,427     $ 2,418,750  
Products and services transferred over time     4,084,065       3,485,641  
Total Sales   $ 4,910,492     $ 5,904,391  

 

For the Six Months
Ended June 30, 2024
    United States   International   Total
Infrastructure & Disaster Recovery/Cloud Service   $ 5,890,433     $ 228,178     $ 6,118,611  
Equipment and Software     4,866,950       —       4,866,950  
Managed Services     1,485,925       —       1,485,925  
Nexxis VoIP Services     552,297       —       552,297  
Other     112,018       10,438       122,456  
Total Sales   $ 12,907,623     $ 238,616     $ 13,146,239  

  

For the Six Months
Ended June 30, 2023
    United States   International   Total
Infrastructure & Disaster Recovery/Cloud Service   $ 4,621,056     $ 103,908     $ 4,724,964  
Equipment and Software     5,902,381       —       5,902,381  
Managed Services     1,533,338       70,034       1,603,372  
Nexxis VoIP Services     472,484       —       472,484  
Other     80,913       —       80,913  
Total Sales   $ 12,610,172     $ 173,942     $ 12,784,114  

 

For the Six Months
Ended June 30,
Timing of revenue recognition   2024   2023
Products transferred at a point in time   $ 4,989,406     $ 5,983,294  
Products and services transferred over time     8,156,833       6,800,820  
Total Sales   $ 13,146,239     $ 12,784,114  
Schedule of earning per share basic and diluted
                               
    For the Three Months Ended   For the Six Months Ended
    June 30,   June 30,
    2024   2023   2024   2023
Net Income (Loss) Available to Common Shareholders   $ (244,240 )   $ 226,823     $ 112,862     $ 277,489  
                                 
Weighted average number of common shares - basic     6,973,068       6,834,627       6,902,138       6,828,446  
Dilutive securities                                
Options     —       185,981       363,326       185,981  
Warrants     —       1,667       —       1,667  
Restricted stock awards     —       —       234,375       —  
Weighted average number of common shares - diluted     6,973,068       7,022,275       7,499,839       7,016,094  
Earnings (Loss) per share, basic   $ (0.04 )   $ 0.03     $ 0.02     $ 0.04  
Earnings (Loss) per share, diluted   $ (0.04 )   $ 0.03     $ 0.02     $ 0.04  
Schedule of anti-dilutive shares
                               
    Three Months Ended June 30,   Six Months Ended June 30,
    2024   2023   2024   2023
Options     701,346       393,540       338,020       393,540  
Warrants     2,495,860       2,415,860       2,495,860       2,415,860  
Restricted stock awards     234,375       —       —       —  
      3,431,581       2,809,400       2,833,880       2,809,400