What changed in this filing

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Item 1. Financial Statements

2023-11-14 compared with 2023-08-14 · 468 added, 426 removed, 277 unchanged (76% of the section changed)

2 unchanged sentences

in this Form 10-Q are as follows:

Consolidated Balance Sheets as of June 30, 2023 (unaudited) and December 31, 2022;

Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022 (unaudited);

Consolidated Statements of Cash Flows for the six months ended June 30, 2023 and 2022 (unaudited);

Consolidated Statements of Stockholder’s Equity as of June 30, 2023 and 2022.

Consolidated Balance Sheets as of September 30, 2023 (unaudited) and December 31, 2022;

Consolidated Statements of Operations for the three and nine months ended September 30, 2023 and 2022 (unaudited);

Consolidated Statements of Cash Flows for the nine months ended September 30, 2023 and 2022 (unaudited);

Consolidated Statements of Stockholder’s Equity as for the three and nine months ended September 30, 2023;

Notes to Consolidated Financial Statements (unaudited).

3 unchanged sentences

In the opinion of management, all adjustments considered necessary for a fair presentation have been included.

Operating results for the interim period ended June 30, 2023 are not necessarily indicative of the results that can be expected for the

Operating results for the interim period ended September 30, 2023 are not necessarily indicative of the results that can be expected for

the full year.

Consolidated Balance Sheets

September 30,

Current Assets

30 unchanged sentences

$ 0.001 par value,

21,000 shares issued and outstanding

31,080 and 21,000 shares issued and outstanding, respectively

Series C Preferred stock:

19 unchanged sentences

Three Months Ended

Six Months Ended

Nine Months Ended

September 30,

Cost of revenue

2 unchanged sentences

Total operating expenses

Operating loss

Operating income (loss)

Other income (expense)

3 unchanged sentences

Total other income (expense)

Net loss before provision for income taxes

Net income (loss) before provision for income taxes

Net income (loss)

Net income attributable to noncontrolling interests

Net loss attributed to stockholders of iQSTEL Inc.

$ ( 213,945 )

attributed to iQSTEL Inc.

$ ( 639,143 )

$ ( 975,013 )

Dividend on Series

B Preferred Stock

Net loss attributed to stockholders of iQSTEL Inc.

$ ( 878,493 )

Comprehensive income (loss)

$ ( 1,455,623 )

$ ( 975,013 )

Comprehensive income (loss)

Net income (loss)

$ ( 274,557 )

1 unchanged sentence

Foreign currency adjustment

Total comprehensive loss

$ ( 286,480 )

Total comprehensive income (loss)

$ ( 274,415 )

1 unchanged sentence

Comprehensive income attributable to noncontrolling interests

Net comprehensive loss attributed to stockholders of iQSTEL Inc.

$ ( 212,418 )

$ ( 351,702 )

Net comprehensive loss attributed to iQSTEL Inc.

$ ( 639,071 )

6 unchanged sentences

of Changes in Stockholders’ Equity (Deficit)

the three and six months ended June 30, 2023 and 2022

For the three and nine

months ended September 30, 2023 and 2022

A Preferred Stock

4 unchanged sentences

Stockholders' Deficit

- December 31, 2022

Balance - December

$ ( 24,504,395 )

$ ( 924,377 )

stock issued for warrant exercises

stock issued for compensation

issued for warrant exercises

issued for compensation

of derivative liabilities upon exercise of warrant

4 unchanged sentences

$ ( 719,241 )

stock issued for compensation

issued for compensation

currency translation adjustments

3 unchanged sentences

$ ( 665,474 )

B Preferred stock issued as dividend

stock issued for compensation

stock issued for warrant exercises

of derivative liabilities upon exercise of warrant

to non-controlling interest

currency translation adjustments

income (loss)

Balance - September 30,

$ ( 25,960,018 )

$ ( 564,771 )

A Preferred Stock

3 unchanged sentences

Controlling Interest

Stockholders’ Deficit

Stockholders’ Equity

- December 31, 2021

12 unchanged sentences

stock payable

of common stock purchase option

currency translation adjustments

3 unchanged sentences

$ ( 933,796 )

stock issued for compensation

stock issued for settlement of debt

stock issued for asset acquisition

currency translation adjustments

income (loss)

- September 30, 2022

$ ( 19,511,934 )

$ ( 838,158 )

The accompanying notes are

2 unchanged sentences

of Cash Flows

Six Months Ended

Nine Months Ended

September 30,

CASH FLOWS FROM OPERATING ACTIVITIES:

3 unchanged sentences

Stock based compensation

Bad debt expense

Depreciation and amortization

3 unchanged sentences

Accounts receivable

( 3,422,703 )

Prepaid and other current assets

( 1,057,311 )

Due from related parties

7 unchanged sentences

Purchase of property and equipment

Advances of loan receivable - related parties

Advances of amounts due from related parties

Collection of amounts due from related parties

8 unchanged sentences

Deposit for option

Repayment of convertible

Net cash provided by financing activities

8 unchanged sentences

Non-cash transactions:

Series B Preferred

stock issued as dividend

Common stock issued for asset acquisition

Common stock issued for acquisitions of subsidiaries

Common stock issued

for conversion of debt

Resolution of derivative liabilities upon exercise of warrants

3 unchanged sentences

Consolidated Financial Statements

June 30, 2023

NOTE 1 -ORGANIZATION AND DESCRIPTION OF BUSINESS

Organization and Operations

(“iQSTEL”, “we”,

“us”, or the “Company”) was incorporated under the laws of the State of Nevada on June 24, 2011 , under

the name of B-Maven Inc.

The Company changed its name to PureSnax International, Inc.

September 30, 2023

NOTE 1 -ORGANIZATION

AND DESCRIPTION OF BUSINESS

and Operations

(“iQSTEL”, “we”, “us”, or the “Company”) was incorporated under the laws of the State

of Nevada on June 24, 2011 , under the name of B-Maven Inc.

The Company changed its name to PureSnax International,

on September 18, 2015;

and more recently it changed

its name to iQSTEL Inc.

and more recently it changed its name to iQSTEL Inc.

on August 7, 2018.

The Company is a technology company with presence

in 13 countries and 56 employees that is offering leading-edge services through its four business divisions.

The Telecom Division, which represents the majority

of current operations and which also represents the source for all of the Company’s revenues, offers VoIP, SMS, proprietary Internet

of Things (IoT) solutions (www.iotsmartgas.com and www.iotsmarttank.com), and international fiber-optic connectivity through its subsidiaries:

Etelix.com USA, LLC, SwissLink Carrier AG, Smartbiz Telecom LLC, Whisl Telecom LLC, IoT Labs, LLC, and QGlobal SMS, LLC.

The Company’s developing Fintech Business Line

offers a complete Fintech ecosystem MasterCard Debit Card, US Bank Account (No SSN Needed), Mobile App/Wallet (Remittances, Mobile Top

The Company’s Fintech subsidiary, Global Money One Inc., is to provide immigrants access to reliable financial services that

makes it easier to manage their money and stay connected with their families back home.

The Company’s developing BlockChain Platform

Business Line offers our proprietary Mobile Number Portability Application (MNPA) to serve the in-country portability needs through its

subsidiary, itsBchain, LLC.

The Company’s developing Electric Vehicle (EV)

Business Line offers electric motorcycles for work and recreational use in the USA, Spain, Portugal, Panama, Colombia, and Venezuela.

EVOSS is also working on the development of an EV Mid Speed Car to serve the niche of the 2nd car in the family.

NOTE 2 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited consolidated financial

statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim

financial statements and with the instructions to Form 10-Q and Regulation S-X of the United States Securities and Exchange Commission

Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted

in the United States of America (“GAAP”) for annual financial statements.

In the opinion of the Company’s management,

the accompanying unaudited interim consolidated financial statements contain all the adjustments necessary (consisting only of normal

recurring accruals) to present the financial position of the Company as of June 30, 2023 and the results of operations and cash flows

for the periods presented.

The results of operations for the six months ended June 30, 2023 are not necessarily indicative of the operating

results for the full fiscal year or any future period.

These unaudited consolidated financial statements should be read in conjunction

with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended

December 31, 2022 filed with the SEC on April 14, 2023.

Consolidation Policy

The consolidated financial statements of the Company

include the accounts of the Company and its owned subsidiaries, Etelix.com USA, LLC (“Etelix”), SwissLink Carrier AG (“Swisslink”),

itsBchain, LLC (“ItsBchain”), QGLOBAL SMS, LLC (“QGlobal”), IoT Labs, LLC (“IoT Labs”), Global Money

(“Global Money One”), Whisl Telecom LLC (“Whisl”) and Smartbiz Telecom LLC (“Smartbiz”).

is a technology company with presence in 19 countries and 70 employees that is offering leading-edge services through its four business

Division, which represents the majority of current operations and which also represents the source for all of the Company’s revenues,

offers VoIP, SMS, proprietary Internet of Things (IoT) solutions (www.iotsmartgas.com and www.iotsmarttank.com), and international fiber-optic

connectivity through its subsidiaries:

Etelix.com USA, LLC, SwissLink Carrier AG, Smartbiz Telecom LLC, Whisl Telecom LLC, IoT Labs, LLC,

and QGlobal SMS, LLC.

The Company’s

developing Fintech Business Line offers a complete Fintech ecosystem MasterCard Debit Card, US Bank Account (No SSN Needed), Mobile App/Wallet

(Remittances, Mobile Top Up).

The Company’s Fintech subsidiary, Global Money One Inc., is to provide immigrants access to reliable

financial services that makes it easier to manage their money and stay connected with their families back home.

The Company’s

developing BlockChain Platform Business Line offers our proprietary Mobile Number Portability Application (MNPA) to serve the in-country

portability needs through its subsidiary, itsBchain, LLC.

The Company’s

developing Electric Vehicle (EV) Business Line offers electric motorcycles for work and recreational use in the USA, Spain, Portugal,

Panama, Colombia, and Venezuela.

EVOSS is also working on the development of an EV Mid Speed Car to serve the niche of the 2nd car in

NOTE 2 -SUMMARY

OF SIGNIFICANT ACCOUNTING POLICIES

of Presentation

The accompanying

unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United

States of America for interim financial statements and with the instructions to Form 10-Q and Regulation S-X of the United States Securities

and Exchange Commission (“SEC”).

Accordingly, they do not contain all information and footnotes required by accounting principles

generally accepted in the United States of America (“GAAP”) for annual financial statements.

In the opinion

of the Company’s management, the accompanying unaudited interim consolidated financial statements contain all the adjustments necessary

(consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2023 and the results

of operations and cash flows for the periods presented.

The results of operations for the nine months ended September 30, 2023 are not

necessarily indicative of the operating results for the full fiscal year or any future period.

These unaudited consolidated financial

statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual

Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on April 14, 2023.

Consolidation

The consolidated

financial statements of the Company include the accounts of the Company and its owned subsidiaries, Etelix.com USA, LLC (“Etelix”),

SwissLink Carrier AG (“Swisslink”), itsBchain, LLC (“ItsBchain”), QGLOBAL SMS, LLC (“QGlobal”), IoT

Labs, LLC (“IoT Labs”), Global Money One Inc.

(“Global Money One”), Whisl Telecom LLC (“Whisl”) and

Smartbiz Telecom LLC (“Smartbiz”).

All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the consolidated financial statements

in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities

and disclosure of contingent assets and liabilities at the date of the financial statements.

The estimates and judgments will also affect

the reported amounts for certain revenues and expenses during the reporting period.

Actual results could differ from these good faith

estimates and judgments.

Foreign Currency Translation and Re-measurement

The Company translates its foreign operations to U.S.

The preparation

of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the

reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements.

The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period.

results could differ from these good faith estimates and judgments.

Currency Translation and Re-measurement

translates its foreign operations to U.S.

dollars in accordance with ASC 830, “ Foreign Currency Matters ”.

The functional currency and reporting currency of

Etelix, QGlobal, ItsBchain, IoT Labs, Whisl, Smartbiz and Global Money One is the U.S.

dollar, while SwissLink’s functional currency

is the Swiss Franc (“CHF”).

SwissLink translates their records into U.S.

· Assets and liabilities at the

rate of exchange in effect at the balance sheet date;

· Equities at historical rate;

· Revenue and expense items at

the average rate of exchange prevailing during the period.

Adjustments arising from such translations are included

in accumulated other comprehensive income (loss) in stockholders’ equity.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks, money

market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible

to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.

The Company had no cash

equivalents at June 30, 2023 and December 31, 2022.

Accounts Receivable and Allowance for Uncollectible

Substantially all of the Company’s accounts

receivable balance is related to trade receivables.

Trade accounts receivable are recorded at the invoiced amount and do not bear interest.

The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in its existing accounts

Under the expected credit loss model, the Company reviews its allowance for doubtful accounts daily and past due balances

over 60 days and a specified amount is reviewed individually for collectability.

Account balances are charged off after all means of collection

have been exhausted and the potential for recovery is considered remote.

During the six months ended June 30, 2023 and 2022, the Company

recorded no bad debt expense.

Net Income (Loss) Per Share of Common Stock

The Company has adopted ASC 260, ”Earnings

per Share , ” which requires presentation of basic earnings per share on the face of the statements of operations

for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic earnings

per share computation.

In the accompanying financial statements, basic loss per share is computed by dividing net loss by the weighted

average number of shares of common stock outstanding during the period.

Diluted earnings per share is computed by dividing net income

by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period

to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and

warrants unless the result would be antidilutive.

Dilutive potential common shares include outstanding warrants and Series B Preferred

stock, and these were excluded from the computation of diluted net loss per share as the result was anti-dilutive for the six months ended

June 30, 2023 and 2022.

Concentrations of Credit Risk

The Company’s financial instruments that are

exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables.

The Company places

its cash and cash equivalents with financial institutions of high creditworthiness.

At times, its cash and cash equivalents with a particular

financial institution may exceed any applicable government insurance limits.

During the six months ended June 30, 2023, 23 customers

represented 87 % of our revenue compared to 8 customers representing 87 % of our revenue for the six months ended June

Financial Instruments

The Company follows ASC 820, “ Fair Value

Measurements and Disclosures, ” which defines fair value as the exchange price that would be received for an asset or paid to

transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction

between market participants on the measurement date.

ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market

participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s

own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable

The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active

markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

The three levels of the

fair value hierarchy are described below:

Level 1 applies to assets or liabilities for which

there are quoted prices in active markets for identical assets or liabilities.

Level 2 applies to assets or liabilities for which

there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities

in active markets;

quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less

active markets);

or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated

by, observable market data.

Level 3 applies to assets or liabilities for which

there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or

The carrying values of our financial instruments,

including, cash;

The functional

currency and reporting currency of Etelix, QGlobal, ItsBchain, IoT Labs, Whisl, Smartbiz and Global Money One is the U.S.

dollar, while

SwissLink’s functional currency is the Swiss Franc (“CHF”).

SwissLink translates

their records into U.S.

dollars as follows:

and liabilities at the rate of exchange in effect at the balance sheet date;

at historical rate;

and expense items at the average rate of exchange prevailing during the period.

arising from such translations are included in accumulated other comprehensive income (loss) in stockholders’ equity.

Cash Equivalents

Cash and cash

equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from

inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant

risk of loss in value.

The Company had no cash equivalents at September 30, 2023 and December 31, 2022.

Receivable and Allowance for Uncollectible Accounts

Substantially

all of the Company’s accounts receivable balance is related to trade receivables.

Trade accounts receivable are recorded at the

invoiced amount and do not bear interest.

The allowance for doubtful accounts is the Company’s best estimate of the amount of probable

credit losses in its existing accounts receivable.

Under the expected credit loss model, the Company reviews its allowance for doubtful

accounts daily and past due balances over 60 days and a specified amount is reviewed individually for collectability.

Account balances

are charged off after all means of collection have been exhausted and the potential for recovery is considered remote.

During the nine

months ended September 30, 2023 and 2022, the Company recorded bad debt expense of $1,344 and $26,299, respectively.

(Loss) Per Share of Common Stock

has adopted ASC 260, ”Earnings per Share , ” which requires presentation of basic earnings per share

on the face of the statements of operations for all entities with complex capital structures and requires a reconciliation of the numerator

and denominator of the basic earnings per share computation.

In the accompanying financial statements, basic loss per share is computed

by dividing net loss by the weighted average number of shares of common stock outstanding during the period.

Diluted earnings per share

is computed by dividing net income by the weighted average number of shares of common stock and potentially dilutive outstanding shares

of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share

arrangements, stock options and warrants unless the result would be antidilutive.

Dilutive potential common shares include outstanding

warrants and Series B Preferred stock, and these were excluded from the computation of diluted net loss per share as the result was anti-dilutive

for the nine months ended September 30, 2023 and 2022.

Concentrations

of Credit Risk

The Company’s

financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related

party payables.

The Company places its cash and cash equivalents with financial institutions of high creditworthiness.

At times, its cash

and cash equivalents with a particular financial institution may exceed any applicable government insurance limits.

During the nine

months ended September 30, 2023, 11 customers represented 87.8 % of our revenue compared to 10 customers represented 87 % of our

revenues for the nine months ended September 30, 2022.

follows ASC 820, “ Fair Value Measurements and Disclosures, ” which defines fair value as the exchange price that would

be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or

liability in an orderly transaction between market participants on the measurement date.

ASC 820 also establishes a fair value hierarchy

that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable

inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available

in the circumstances (unobservable inputs).

The fair value hierarchy consists of three broad levels, which gives the highest priority

to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs

The three levels of the fair value hierarchy are described below:

Level 1 applies

to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 applies

to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted

prices for similar assets or liabilities in active markets;

quoted prices for identical assets or liabilities in markets with insufficient

volume or infrequent transactions (less active markets);

or model-derived valuations in which significant inputs are observable or can

be derived principally from, or corroborated by, observable market data.

Level 3 applies

to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement

of the fair value of the assets or liabilities.

values of our financial instruments, including, cash;

accounts receivable;

1 unchanged sentence

accounts payable;

accrued liabilities and other current liabilities;

and due from/to related parties approximate their fair values due to the short-term maturities of these financial instruments.

Transactions involving related parties cannot be presumed

to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings may not exist.

Representations

about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent

to those that prevail in arm’s-length transactions unless such representations can be substantiated.

It is not, however, practical

to determine the fair value of amounts due to related parties due to their related party nature.

Derivative Financial Instruments

The Company does not use derivative instruments to

hedge exposures to cash flow, market or foreign currency risks.

We evaluate all of our financial instruments to determine if such instruments

are derivatives or contain features that qualify as embedded derivatives.

For derivative financial instruments that are accounted for

as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes

in the fair value reported in the statements of operations.

For stock-based derivative financial instruments, the Company used a Black-Scholes

valuation model to value the derivative instruments at inception and on subsequent valuation dates.

The classification of derivative instruments,

including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period.

liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of

the instrument could be required within 12 months of the balance sheet date.

Revenue Recognition

The Company recognizes revenue from telecommunication

services in accordance with ASC 606, “ Revenue from Contracts with Customers.”

The Company recognizes revenue related to monthly

usage charges and other recurring charges during the period in which the telecommunication services are rendered, provided that persuasive

evidence of a sales arrangement exists, and collection is reasonably assured.

Management considers persuasive evidence of a sales arrangement

to be a written interconnection agreement.

liabilities and other current liabilities;

and due from/to related parties approximate their fair values due to the short-term maturities

of these financial instruments.

involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive,

free-market dealings may not exist.

Representations about transactions with related parties, if made, shall not imply that the related

party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations

can be substantiated.

It is not, however, practical to determine the fair value of amounts due to related parties due to their related

party nature.

Financial Instruments

does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risks.

We evaluate all of our financial

instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives.

For derivative

financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is

then re-valued at each reporting date, with changes in the fair value reported in the statements of operations.

For stock-based derivative

financial instruments, the Company used a Black-Scholes valuation model to value the derivative instruments at inception and on subsequent

valuation dates.

The classification of derivative instruments, including whether such instruments should be recorded as liabilities or

as equity, is evaluated at the end of each reporting period.

Derivative liabilities are classified in the balance sheet as current or

non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance

recognizes revenue from telecommunication services in accordance with ASC 606, “ Revenue from Contracts with Customers.”

recognizes revenue related to monthly usage charges and other recurring charges during the period in which the telecommunication services

are rendered, provided that persuasive evidence of a sales arrangement exists, and collection is reasonably assured.

Management considers

persuasive evidence of a sales arrangement to be a written interconnection agreement.

The Company’s payment terms vary by client.

Recent Accounting Pronouncements

In June 2022, the FASB issued ASU 2022-03, ASC Subtopic

“ Fair Value Measurement (Topic 820):

Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.

These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account

of the equity security and, therefore, is not considered in measuring fair value.

The amendments in this update are effective for public

business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023.

Early adoption

is permitted.

The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

In June 2016, the FASB issued ASU No.

2016-13, “ Financial

Instruments Credit Losses —Measurement of Credit Losses on Financial Instruments .” ASU 2016-13 requires a financial asset

(or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected, which includes

the Company’s accounts receivable.

This ASU is effective for the Company for reporting periods beginning after December 15, 2022.

The Company adopted this accounting pronouncement on January 1, 2023 and it did not have any impact to its financial statements.

The Company has reviewed all other recently

issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected

to cause a material impact on our financial statements.

NOTE 3 - GOING CONCERN

The Company's consolidated financial statements have

been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and liquidation

of liabilities in the normal course of business.

The Company has suffered recurring losses from operations and does not have an established

source of revenues sufficient to cover its operating costs.

These conditions raise substantial doubt about the Company’s ability

to continue as a going concern.

The consolidated financial statements do not include any adjustments that might result from the outcome

of this uncertainty.

The ability of the Company to continue as a going

concern is dependent upon its ability to successfully accomplish its business plan and eventually attain profitable operations.

During the next year, the Company's foreseeable cash

requirements will relate to continual development of the operations of its business, maintaining its good standing in the industry and

continuing its marketing efforts.

The Company may experience a cash shortfall and be required to raise additional capital.

Historically, the Company has relied upon funds from

its stockholders.

Management may raise additional capital through future public or private offerings of the Company's stock or through

loans from private investors, although there can be no assurance that it will be able to obtain such financing.

The Company's failure

to do so could have a material and adverse effect upon its operations and its stockholders.

NOTE 4 – PREPAID AND OTHER CURRENT ASSETS

Prepaid and other current assets as of June 30, 2023

and December 31, 2022 consisted of the following:

Accounting Pronouncements

In June 2022,

the FASB issued ASU 2022-03, ASC Subtopic “ Fair Value Measurement (Topic 820):

Fair Value Measurement of Equity Securities Subject

to Contractual Sale Restrictions.

” These amendments clarify that a contractual restriction on the sale of an equity security

is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value.

The amendments

in this update are effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning

after December 15, 2023.

Early adoption is permitted.

The Company is currently assessing the impact of the adoption of this standard on

its consolidated financial statements.

In June 2016,

the FASB issued ASU No.

2016-13, “ Financial Instruments Credit Losses —Measurement of Credit Losses on Financial Instruments .”

ASU 2016-13 requires a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount

expected to be collected, which includes the Company’s accounts receivable.

This ASU is effective for the Company for reporting

periods beginning after December 15, 2022.

The Company adopted this accounting pronouncement on January 1, 2023 and it did not have

any impact to its financial statements.

Company has reviewed all other recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption

of any such pronouncements may be expected to cause a material impact on our financial statements.

GOING CONCERN

The Company's

consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the

realization of assets and liquidation of liabilities in the normal course of business.

The Company has suffered recurring losses

from operations and does not have an established source of revenues sufficient to cover its operating costs.

These conditions raise substantial

doubt about the Company’s ability to continue as a going concern.

The consolidated financial statements do not include any adjustments

that might result from the outcome of this uncertainty.

of the Company to continue as a going concern is dependent upon its ability to successfully accomplish its business plan and eventually

attain profitable operations.

During the next

year, the Company's foreseeable cash requirements will relate to continual development of the operations of its business, maintaining

its good standing in the industry and continuing its marketing efforts.

The Company may experience a cash shortfall and be required to

raise additional capital.

Historically,

the Company has relied upon funds from its stockholders.

Management may raise additional capital through future public or private offerings

of the Company's stock or through loans from private investors, although there can be no assurance that it will be able to obtain such

The Company's failure to do so could have a material and adverse effect upon its operations and its stockholders.

NOTE 4 – PREPAID

AND OTHER CURRENT ASSETS

other current assets as of September 30, 2023 and December 31, 2022 consisted of the following:

September 30,

Other receivable

3 unchanged sentences

Deposit for acquisition of asset

Subscription receivable

Security deposit

prepaid and other current assets

NOTE 5 – PROPERTY AND EQUIPMENT

Property and equipment as of June 30, 2023 and December

31, 2022 consisted of the following:

NOTE 5 – PROPERTY

AND EQUIPMENT

equipment as of September 30, 2023 and December 31, 2022 consisted of the following:

September 30,

Telecommunication equipment

4 unchanged sentences

Total property and equipment

Depreciation expense for the six months ended June

30, 2023 and 2022 amounted to $ 68,488 and $ 62,371 , respectively.

NOTE 6 –LOANS PAYABLE

Loans payable as of June 30, 2023 and December 31,

2022 consisted of the following:

expense for the nine months ended September 30, 2023 and 2022 amounted to $ 103,246 and $ 91,221 , respectively.

NOTE 6 –LOANS

Loans payable

as of September 30, 2023 and December 31, 2022 consisted of the following:

September 30,

Note was issued on October 23, 2018 and due on January 2, 2024

7 unchanged sentences

Long-term loans payable

Loans payable - related parties as of June 30, 2023

and December 31, 2022 consisted of the following:

Loans payable

- related parties as of September 30, 2023 and December 31, 2022 consisted of the following:

September 30,

49% of Shareholder of SwissLink

4 unchanged sentences

Long-term loans payable

During the six months ended June 30, 2023, the Company

borrowed from a third party totaling $ 165,000 , which includes original issue discount and financing costs of $ 15,000 .

During the six months ended June 30, 2023 and 2022,

the Company recorded interest expense of $ 9,460 and $ 18,724 and recognized amortization of discount, included in interest

expense, of $ 3,750 and $ 7,407 , respectively.

NOTE 7 – CONVERTIBLE NOTE

During the six months ended June 30, 2023, the Company

borrowed from a third party totaling $ 284,760 , which includes original issue discount and financing costs of $ 34,760 .

The note is due

on June 1, 2024 and a one-time interest charge of 12 % shall be applied.

Accrued, unpaid interest and outstanding principal shall be paid

in 10 payments each in the amount of $ 31,893.10 .

The first payment shall be due on July 16, 2023 .

The note is convertible at the option

of the holders at any time following an event of default, and the conversion price is 75% multiplied by the lowest trading price of Company’s

common stock during the 10 trading days prior to the conversion date.

During the six months ended June 30, 2023, the Company

recorded interest expense of $ 3,417 and recognized amortization of discount, included in interest expense, of $ 3,476 .

During the nine

months ended September 30, 2023, the Company borrowed from a third party totaling $165,000, which includes original issue discount

and financing costs of $ 15,000 .

During the nine

months ended September 30, 2023 and 2022, the Company recorded interest expense of $ 19,250 and $ 22,417 and recognized

amortization of discount, included in interest expense, of $ 7,500 and $ 7,406 , respectively.

NOTE 7 – CONVERTIBLE

During the nine

months ended September 30, 2023, the Company borrowed from a third party totaling $ 284,760 , which includes original issue discount

and financing costs of $ 34,760 .

The note is due on June 1, 2024 and a one-time interest charge of 12 % shall be applied.

unpaid interest and outstanding principal shall be paid in 10 payments each in the amount of $ 31,893 beginning on July 16, 2023 .

note is convertible at the option of the holders at any time following an event of default, and the conversion price is 75% multiplied

by the lowest trading price of Company’s common stock during the 10 trading days prior to the conversion date.

During the nine

months ended September 30, 2023, the Company recorded interest expense of $ 13,668 and recognized amortization of discount, included

in interest expense, of $ 13,904 .

NOTE 8 – WARRANTS

On April 5, 2022, we entered

into a Common Stock Purchase Option Agreement with Apollo Management Group, Inc (Holder) to subscribe for and purchase from the Company, 4,800,000 shares

of Common Stock with an exercise price per share of $ 2.00 ;

and an initial exercisable date on September 30, 2022 .

price of this option was $ 500,000 .

The Company determined that the warrants had a fixed monetary value with a variable number of

shares at inception and categorized the warrants as a liability in the accompanying consolidated financial statements.

The Holder and the Company agreed that the Holder

had the right and the obligation to exercise, on a cashless basis, $1,000,000 of the Options not later than October 15, 2022 .

the Holder shall undertake to exercise not less than (i) $ 400,000 of the Options on a “cash basis” not later than

the later of (y) November 14, 2022 or (z) the date on which there is an effective registration statement permitting the issuance

of the Option Shares to or resale of the Option Shares by the Holder and (ii) an additional $ 400,000 of the Options on a “cash

basis” not later than the latest of (x) thirty (30) days following the exercise of the Option under subsection (i), above, (y) December

14, 2022, or (z) the date on which there is an effective registration statement permitting the issuance of the Option Shares to or resale

of the Option Shares by the Holder.

From and after the occurrence of the three above-referenced exercises, each additional exercise of

Options hereunder shall be in an amount not less than $ 200,000 and exercised only on a cash basis.

The Holder’s obligation to exercise each specified

portion of this option on the specific dates above is subject to the volume-weighted average price (“VWAP”, market value),

being not less than $0.20 per share on the relevant option exercise date.

Adjusted option shares at VWAP of $0.20 shall be 48,000,000

A summary of activity regarding warrants issued as

Warrants Outstanding

Weighted Average

Weighted Average Remaining

Exercise Price

Contractual life (in years)

April 5, 2022, we entered into a Common Stock Purchase Option Agreement with Apollo Management Group, Inc (Holder) to subscribe for and

purchase from the Company, 4,800,000 shares of Common Stock with an exercise price per share of $ 2.00 ;

and an initial exercisable

date on September 30, 2022 .

The purchase price of this option was $ 500,000 .

The Company determined that the warrants had a fixed

monetary value with a variable number of shares at inception and categorized the warrants as a liability in the accompanying consolidated

financial statements.

The Holder and

the Company agreed that the Holder had the right and the obligation to exercise, on a cashless basis, $1,000,000 of the Options not later

than October 15, 2022.

Thereafter, the Holder shall undertake to exercise not less than (i) $400,000 of the Options on a “cash

basis” not later than the later of (y) November 14, 2022 or (z) the date on which there is an effective registration statement

permitting the issuance of the Option Shares to or resale of the Option Shares by the Holder and (ii) an additional $ 400,000 of

the Options on a “cash basis” not later than the latest of (x) thirty (30) days following the exercise of the Option under

subsection (i), above, (y) December 14, 2022, or (z) the date on which there is an effective registration statement permitting the issuance

of the Option Shares to or resale of the Option Shares by the Holder.

From and after the occurrence of the three above-referenced exercises,

each additional exercise of Options hereunder shall be in an amount not less than $ 200,000 and exercised only on a cash basis.

obligation to exercise each specified portion of this option on the specific dates above is subject to the volume-weighted average price

(“VWAP”, market value), being not less than $0.20 per share on the relevant option exercise date.

Adjusted option shares at

VWAP of $0.20 shall be 48,000,000 shares.

activity regarding warrants issued as follows:

Average Exercise Price

Average Remaining Contractual life (in years)

Outstanding, December 31, 2022

1 unchanged sentence

( 10,294,119 )

Forfeited/canceled

Outstanding, June 30, 2023

NOTE 9 – DERIVATIVE LIABILITIES

Fair Value Assumptions Used in Accounting for Derivative

ASC 815, “ Derivatives and Hedging ,”

requires we assess the fair market value of derivative liabilities at the end of each reporting period and recognize any change in the

fair market value as other income or expense.

The Company determined our derivative liabilities

to be a Level 3 fair value measurement and used the Black-Scholes pricing model to calculate the fair value as of June 30, 2023.

The Black-Scholes

model requires six basic data inputs:

the exercise or strike price, time to expiration, the risk-free interest rate, the current stock

price, the estimated volatility of the stock price in the future, and the dividend rate.

Changes to these inputs could produce a significantly

higher or lower fair value measurement.

For the six months ended June 30, 2023 and year ended

December 31, 2022, the estimated fair values of the liabilities measured on a recurring basis are as follows:

( 18,080,921 )

Outstanding, September 30, 2023

NOTE 9 – DERIVATIVE

Assumptions Used in Accounting for Derivative Liabilities

ASC 815, “ Derivatives

and Hedging ,” requires we assess the fair market value of derivative liabilities at the end of each reporting period and recognize

any change in the fair market value as other income or expense.

determined our derivative liabilities to be a Level 3 fair value measurement and used the Black-Scholes pricing model to calculate the

fair value as of September 30, 2023.

The Black-Scholes model requires six basic data inputs:

the exercise or strike price, time to expiration,

the risk-free interest rate, the current stock price, the estimated volatility of the stock price in the future, and the dividend rate.

Changes to these inputs could produce a significantly higher or lower fair value measurement.

months ended September 30, 2023 and year ended December 31, 2022, the estimated fair values of the liabilities measured on a recurring

basis are as follows:

Expected term

6 unchanged sentences

0.06 % - 4.73 %

The following table summarizes the changes in the

derivative liabilities during the six months ended June 30, 2023 and 2022:

Value Measurements Using Significant Observable Inputs (Level 3)

The following

table summarizes the changes in the derivative liabilities during the nine months ended September 30, 2023:

Fair Value Measurements Using Significant Observable

Inputs (Level 3)

Balance - December 31, 2022

1 unchanged sentence

Change in fair value of the warrant

Balance – June 30, 2023

The following table summarizes the change in fair

value of derivative liabilities included in the income statement for the six months ended June 30, 2023 and 2022, respectively.

of new derivatives recognized as loss on derivatives

of derivative liabilities

on change in fair value of derivative liability

Balance - September 30, 2023

The following

table summarizes the change in fair value of derivative liabilities included in the income statement for the nine months ended September

30, 2023 and 2022, respectively.

Nine months ended

September 30,

Addition of new derivatives recognized as loss on derivatives

Revaluation of derivative liabilities

(Gain) on change in fair value of derivative liability

$ ( 381,848 )

NOTE 10 – STOCKHOLDERS’ EQUITY

The Company’s authorized capital consists of 300,000,000 shares

of common stock with a par value of $ 0.001 per share.

Series A Preferred Stock

On November 3, 2020, pursuant to Article III of our

Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock entitled Series A Preferred Stock, consisting

of up 10,000 shares, par value $ 0.001 .

Under the Certificate of Designation, holders of Series A Preferred Stock will

participate on an equal basis per-share with holders of our common stock in any distribution upon winding up, dissolution, or liquidation.

Holders of Series A Preferred Stock are entitled to vote together with the holders of our common stock on all matters submitted to stockholders

at a rate of 51% of the total vote of stockholders.

The rights of the holders of Series A Preferred Stock

are defined in the relevant Certificate of Designation filed with the Nevada Secretary of State on November 3, 2020.

As of June 30, 2023 and December 31, 2022, 10,000 shares

of Series A Preferred Stock were issued and outstanding.

Series B Preferred Stock

On November 11, 2020, pursuant to Article III of our

Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock entitled Series B Preferred Stock, consisting

of up 200,000 shares, par value $ 0.001 .

Under the Certificate of Designation, holders of Series B Preferred Stock

will receive a liquidation preference of $81 per share in any distribution upon winding up, dissolution, or liquidation of the Company

before junior security holders, as provided in the designation.

Holders of Series B Preferred Stock are entitled to receive as, when,

and if declared by the Board of Directors, dividends in kind at an annual rate equal to twenty four percent (24%) of $81 per share for

each of the then outstanding shares of Series B Preferred Stock, calculated on the basis of a 360-day year consisting of twelve 30-day

Holders of Series B Preferred Stock do not have voting rights but may convert into common stock after twelve months from the issuance

date, at a conversion rate of one thousand (1,000) shares of Common Stock for every one (1) share of Series B Preferred Stock.

Upon conversion,

the shares are subject to a one-year restriction on sales into the market of no more than 5% previous month’s stock liquidity.

As of June 30, 2023 and December 31, 2022, 21,000 shares

of Series B Preferred Stock were issued and outstanding.

Series C Preferred Stock

On January 7, 2021, pursuant to Article III of our

Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock entitled Series C Preferred Stock, consisting

of up 200,000 shares, par value $ 0.001 .

Under the Certificate of Designation, holders of Series C Preferred Stock

will rank junior to the Series B Preferred Stock, but on par with common stock and Series A Preferred Stock in any distribution upon winding

up, dissolution, or liquidation of the company, as provided in the designation.

The holders of shares of Series C Preferred Stock have

no dividend rights except as may be declared by the Board in its sole and absolute discretion, out of funds legally available for that

Holders of Series C Preferred Stock do not have voting rights but may convert into common stock after twenty four months from

the issuance date, at a conversion rate of one thousand (1,000) shares of Common Stock for every one (1) share of Series C Preferred Stock.

Upon conversion, the shares are subject to a one-year restriction on sales into the market of no more than 5% previous month’s stock

The rights of the holders of Series C Preferred Stock

are defined in the relevant Certificate of Designation filed with the Nevada Secretary of State on January 7, 2021.

As of June 30, 2023 and December 31, 2022, no Series

C Preferred Stock was issued or outstanding.

During the six months ended June 30, 2023, the Company

issued 3,061,177 shares of common stock, valued at fair market value on issuance as follows:

· 120,000 shares for compensation

to our directors valued at $ 18,130 ;

· 2,941,177 shares for exercise

of warrants for $ 400,000 .

As of June 30, 2023 and December 31, 2022, 164,656,688 and 161,595,511 shares

of common stock were issued and outstanding, respectively.

NOTE 11 - RELATED PARTY TRANSACTIONS

Due from related parties

As of June 30, 2023 and December 31, 2022, the Company

had amounts due from related parties of $ 426,529 and $ 326,324 , respectively.

The loans are unsecured, non-interest bearing

and due on demand.

Due to related parties

As of June 30, 2023 and December 31, 2022, the Company

had amounts due to related parties of $ 26,613 .

The amounts are unsecured, non-interest bearing and due on demand.

Employment agreements

During the six months ended June 30, 2023 and 2022,

the Company recorded management salaries of $ 288,000 and $ 270,000 and stock-based compensation bonuses of $ 18,130 and $ 71,629 ,

respectively.

As of June 30, 2023 and December 31, 2022, the Company

recorded and accrued management salaries of $ 129,627 and $ 79,628 , respectively.

NOTE 12 – COMMITMENTS AND CONTINGENCIES

Leases and Long-term Contracts

The Company has not entered into any long-term leases,

contracts or commitments.

The Company leases facilities which the term is 12 months .

For the six months ended June 30, 2023 and 2022,

the Company incurred rent expense of $ 2,137 and $ 38,645 , respectively.

NOTE 13 - SEGMENTS

At December 31, 2022 and 2021, the Company operates

in one industry segment, telecommunication services, and two geographic segments, USA and Switzerland, where current assets and equipment

are located .

Operating Activities

The following table shows operating activities information

by geographic segment for the six months ended June 30, 2023 and 2022:

Three months ended June 30, 2023

NOTE 13 - SEGMENT - Schedule of Operating Activities

by Geographic Segment

NOTE 10 – STOCKHOLDERS’

The Company’s

authorized capital consists of 300,000,000 shares of common stock with a par value of $ 0.001 per share.

Preferred Stock

3, 2020, pursuant to Article III of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock

entitled Series A Preferred Stock, consisting of up 10,000 shares, par value $ 0.001 .

Under the Certificate of Designation, holders

of Series A Preferred Stock will participate on an equal basis per-share with holders of our common stock in any distribution upon winding

up, dissolution, or liquidation.

Holders of Series A Preferred Stock are entitled to vote together with the holders of our common stock

on all matters submitted to stockholders at a rate of 51% of the total vote of stockholders.

The rights of

the holders of Series A Preferred Stock are defined in the relevant Certificate of Designation filed with the Nevada Secretary of State

on November 3, 2020.

As of September

30, 2023 and December 31, 2022, 10,000 shares of Series A Preferred Stock were issued and outstanding.

Preferred Stock

11, 2020, pursuant to Article III of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock

entitled Series B Preferred Stock, consisting of up 200,000 shares, par value $ 0.001 .

Under the Certificate of Designation,

holders of Series B Preferred Stock will receive a liquidation preference of $81 per share in any distribution upon winding up, dissolution,

or liquidation of the Company before junior security holders, as provided in the designation.

Holders of Series B Preferred Stock are

entitled to receive as, when, and if declared by the Board of Directors, dividends in kind at an annual rate equal to twenty four percent

(24%) of $81 per share for each of the then outstanding shares of Series B Preferred Stock, calculated on the basis of a 360-day year

consisting of twelve 30-day months.

Holders of Series B Preferred Stock do not have voting rights but may convert into common stock after

twelve months from the issuance date, at a conversion rate of one thousand (1,000) shares of Common Stock for every one (1) share of Series

B Preferred Stock.

Upon conversion, the shares are subject to a one-year restriction on sales into the market of no more than 5% previous

month’s stock liquidity.

In August 2023,

the Company declared and issued 10,080 shares Series B stock to our management as dividends, valued at $816,480.

As of September

30, 2023 and December 31, 2022, 31,080 and 21,000 shares of Series B Preferred Stock were issued and outstanding, respectively.

Preferred Stock

On January 7,

2021, pursuant to Article III of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock entitled

Series C Preferred Stock, consisting of up 200,000 shares, par value $ 0.001 .

Under the Certificate of Designation,

holders of Series C Preferred Stock will rank junior to the Series B Preferred Stock, but on par with common stock and Series A Preferred

Stock in any distribution upon winding up, dissolution, or liquidation of the company, as provided in the designation.

The holders of

shares of Series C Preferred Stock have no dividend rights except as may be declared by the Board in its sole and absolute discretion,

out of funds legally available for that purpose.

Holders of Series C Preferred Stock do not have voting rights but may convert into common

stock after twenty four months from the issuance date, at a conversion rate of one thousand (1,000) shares of Common Stock for every one

(1) share of Series C Preferred Stock.

Upon conversion, the shares are subject to a one-year restriction on sales into the market of no

more than 5% previous month’s stock liquidity.

The rights of

the holders of Series C Preferred Stock are defined in the relevant Certificate of Designation filed with the Nevada Secretary of State

on January 7, 2021.

As of September

30, 2023 and December 31, 2022, no Series C Preferred Stock was issued or outstanding.

During the nine

months ended September 30, 2023, the Company issued 8,635,884 shares of common stock, valued at fair market value on issuance

shares for compensation to our directors valued at $ 30,945 ;

shares for exercise of warrants for $ 1,150,000 .

As of September

30, 2023 and December 31, 2022, 170,231,395 and 161,595,511 shares of common stock were issued and outstanding, respectively.

29, 2023, 1,838,235 warrants were exercised;

however, the Company received cash of $ 250,000 and issued 1,838,235 shares in October 2023.

As of September 30, 2023, the Company recorded subscription receivable of $ 250,000 in prepaid and other current assets.

RELATED PARTY TRANSACTIONS

related parties

As of September

30, 2023 and December 31, 2022, the Company had amounts due from related parties of $ 427,194 and $ 326,324 , respectively.

The loans are unsecured, non-interest bearing and due on demand.

Due to related

As of September

30, 2023 and December 31, 2022, the Company had amounts due to related parties of $ 26,613 .

The amounts are unsecured, non-interest

bearing and due on demand.

During the nine

months ended September 30, 2023 and 2022, the Company recorded management salaries of $ 402,000 and $ 405,000 and stock-based

compensation bonuses of $ 30,945 and $ 92,130 , respectively.

As of September

30, 2023 and December 31, 2022, the Company recorded and accrued management salaries of $ 65,627 and $ 79,628 , respectively.

NOTE 12 – COMMITMENTS

AND CONTINGENCIES

Long-term Contracts

Company has not entered into any long-term leases, contracts or commitments.

The Company leases facilities which the term is 12

For the nine months ended September 30, 2023 and 2022, the Company incurred rent expense

of $ 4,048 and $ 56,405 , respectively.

30, 2023 and December 31, 2022, the Company operates in one industry segment, telecommunication services, and two geographic segments,

USA and Switzerland, where current assets and equipment are located .

The following

table shows operating activities information by geographic segment for the three and nine months ended September 30, 2023 and 2022:

ended September 30, 2023

NOTE 13 - SEGMENT

- Schedule of Operating Activities by Geographic Segment

$ ( 1,131,378 )

3 unchanged sentences

General and administration

Operating loss

Other income (expense)

$ ( 147,060 )

$ ( 161,644 )

months ended June 30, 2022

Operating income

Other expense

months ended September 30, 2022

$ ( 1,719,255 )

Cost of revenue

( 1,719,255 )

Operating expenses

General and administration

Operating loss

Other income (expense)

$ ( 266,878 )

$ ( 285,457 )

months ended June 30, 2023

Operating income

Other expense

months ended September 30, 2023

$ ( 4,129,344 )

3 unchanged sentences

General and administration

Operating (loss) income

Operating income (loss)

Other income (expense)

Net income (loss)

$ ( 298,694 )

$ ( 274,557 )

months ended June 30, 2022

months ended September 30, 2022

$ ( 2,397,891 )

Cost of revenue

( 2,397,891 )

Operating expenses

4 unchanged sentences

$ ( 782,876 )

Asset Information

The following table shows asset information by geographic

segment as of June 30, 2023 and December 31, 2022:

June 30, 2023

The following

table shows asset information by geographic segment as of September 30, 2023 and December 31, 2022:

September 30, 2023

Current assets

13 unchanged sentences

Non-current liabilities

NOTE 14 – SUBSEQUENT EVENTS .

Management has evaluated subsequent events through

the date these consolidated financial statements were available to be issued.

Based on our evaluation no material events have occurred

that require disclosure.

SUBSEQUENT EVENTS .

Management has

evaluated subsequent events through the date these consolidated financial statements were available to be issued.

Based on our evaluation

no material events have occurred that require disclosure.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements