Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]  
Schedule of revenue is disaggregated by major product
           
For the Three Months
Ended June 30, 2021
    United States   International   Total
Infrastructure & Disaster Recovery/Cloud Service   $ 1,685,951     $ 39,212     $ 1,725,163  
Equipment and Software     760,451       —       760,451  
Managed Services     809,487       —       809,487  
Nexxis VoIP Services     183,118       —       183,118  
Other     50,030       —       50,030  
Total Revenue   $ 3,489,037     $ 39,212     $ 3,528,249  

 

For the Three Months
Ended June 30, 2020
    United States   International   Total
Infrastructure & Disaster Recovery/Cloud Service   $ 1,340,437     $ 42,433     $ 1,382,870  
Equipment and Software     247,187       —       247,187  
Managed Services     219,392       —       219,392  
Nexxis VoIP Services     153,887       —       153,887  
Other     2,289       —       2,289  
Total Revenue   $ 1,963,192     $ 42,433     $ 2,005,625  

 

For the Three Months
Ended June 30,
Timing of revenue recognition   2021   2020
Products transferred at a point in time   $ 937,178     $ 247,187  
Products and services transferred over time     2,591,071       1,758,438  
Total Revenue   $ 3,528,249     $ 2,005,625  

 

For the Six Months
Ended June 30, 2021
    United States   International   Total
Infrastructure & Disaster Recovery/Cloud Service   $ 3,307,949     $ 69,787     $ 3,385,511  
Equipment and Software     1,225,334       —       1,225,334  
Managed Services     1,036,254       —       1,036,254  
Nexxis VoIP Services     378,444       —       378,444  
Other     77,265       —       77,265  
Total Revenue   $ 6,025,246     $ 69,787     $ 6,102,940

 

For the Six Months
Ended June 30, 2020
    United States   International   Total
Infrastructure & Disaster Recovery/Cloud Service   $ 2,689,558     $ 87,032     $ 2,776,590  
Equipment and Software     575,928       —       575,928  
Managed Services     439,867       —       439,867  
Nexxis VoIP Services     307,084       —       307,084  
Other     4,866       —       4,866  
Total Revenue   $ 4,017,303     $ 87,032     $ 4,104,335  

 

For the Six Months
Ended June 30,
Timing of revenue recognition   2021   2020
Products transferred at a point in time   $ 1,511,751     $ 575,928  
Products and services transferred over time     4,591,189       3,528,407  
Total Revenue   $ 6,102,940     $ 4,104,335  
Schedule of Earning per share basic and dilute
       
    For the Three Months Ended June 30,   For the Six Months Ended June 30,
    2021   2020   2021   2020
                 
Net Income (Loss) Available to Common Shareholders   $ 114,313     $ 155,705     $ 77,529     $ 87,109  
                                 
Weighted average number of common shares - basic     3,981,402       3,213,485       3,607,909       3,212,822  
Dilutive securities  Options     134,254       140,770       —       140,770  
 Warrants     3,333       3,333       3,333       3,333  
Weighted average number of common shares - diluted     4,118,989       3,357,589       3,611,242       3,356,926  
                                 
Earnings (Loss) per share, basic   $ 0.03     $ 0.05     $ 0.02     $ 0.03  
Earnings (Loss) per share, diluted   $ 0.03     $ 0.05     $ 0.02     $ 0.03  
Schedule of anti-dilutive income (loss) per share
               
    Three Months ended June 30,   Six Months ended June 30,
    2021   2020   2021   2020
Options       66,901       69,875       201,155       69,875  
Warrants       1,840,000       —       1,840,000       —  
        1,906,901       69,875       2,041,155       69,875