What changed in this filing

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Item 7. Management’s Discussion and Analysis

2024-04-01 compared with 2023-04-14 · 27 added, 29 removed, 105 unchanged (35% of the section changed)

12 unchanged sentences

SwissLink Carrier AG

$ 144,502,351

The continued growth of our revenue is the result of the development of

our business strategy, which includes the strengthening of our commercial and operating activities and new acquisitions.

If net revenues continue growing at a similar rate for the next twelve

months, we believe that the company will reach a total consolidated revenue of approximately $105 million by December 31, 2023.

Cost of Revenue

9 unchanged sentences

SwissLink Carrier AG

$ 139,830,338

Our cost of revenues consists of direct charges from vendors that the Company

incurs to deliver services to its customers.

These costs primarily consist of usage charges for calls and SMS terminated in our vendor’s

These costs primarily consist of usage charges for calls and SMS terminated in our vendors’

The behavior in the costs shows a logical correlation with the behavior

2 unchanged sentences

termination cost.

Our gross margin, which is simply the difference between our

revenues and our cost of sales, discussed above, increased from $1,533,715 in 2021 to $1,791,516 in 2022;

represented an increase of

17% year over year

Our gross margin, which is simply the difference between our revenues

and our cost of sales, discussed above, increased from $1,791,516 in 2022 to $4,672,013 in 2023;

represented an increase of 161% year

Gross margins were 3.23% and 1.92% of revenues, respectively.

This is a clear sign the Company is improving it sales margin.

Operating Expenses

7 unchanged sentences

Travel & Events

Allowance for Doubtful Accounts

Bad Debt Expense

Depreciation and Amortization

1 unchanged sentence

Office, Facility and Other

Commissions Financial Expenses

Sales Commissions

Stock-based compensation

Total Operating Expenses

Operating Expenses by subsidiary are as follow:

Operating Expenses by subsidiary are as follows:

Years Ended December 31,

Global Money One

The increment in the overall Operating Expenses is due to the new additions

of Whisl and Smartbiz, totaling $1,333,813.

This was partially offset by the $868,298 reduction in Operating Expenses by the remaining

companies most significantly by iQSTEL, whose expenses were reduced by $1,143,210.

Other Expenses

We had other expenses of $2,674,101 for the year ended December 31, 2022,

as compared with other expenses of $880,085 for the year ended December 31, 2021.

The increase in Other Expenses in 2022 compared to 2021

is due to the Change in fair value of derivative liabilities of $(2,650,369) for the year ended December 31, 2022 from a positive $317,080

for the year ended December 31, 2021.

We finished the year ended December 31, 2022 with a loss of $5,865,761

as compared to a loss of $3,864,001 during the year ended December 31, 2021.

The amount of year 2022 is highly impacted by the $(2,650,369)

change in fair value of the derivative liabilities .

Other Income (Expenses)

We had other income of $96,067 for the year ended December 31, 2023, as

compared with other expenses of $2,674,101 for the year ended December 31, 2022.

The positive change in Other Income (Expenses) in 2023

compared to 2022 is due to the positive Change in fair value of derivative liabilities of $381,848 for the year ended December 31, 2023

from a negative value of $2,650,369 for the year ended December 31, 2022.

We finished the year ended December 31, 2023 with a loss of $219,436 as

compared to a loss of $5,865,761 during the year ended December 31, 2022.

These two figures compared result in an important improvement

in the Company’s performance during 2023 versus the previous year.

This can be perfectly noted when looking at the evolution of

the Operating Income and the Net Income by quarter in 2023.

Liquidity and Capital Resources

As of December 31, 2023 we had total current assets of $15,719,172, compared

with current liabilities of $6,451,679, resulting in a negative working capital of $15,089 and a current ratio of approximately 0.99 to

with current liabilities of $13,840,944, resulting in a positive working capital of $1,878,228 and a current ratio of approximately 1.14

to 1 which represent an important improvement compared to a ratio of 0.99 to 1 as of December 31, 2022.

Following is a table with summary data from the consolidated statement

10 unchanged sentences

and trade accounts payable.

Our negative operating cash flows in 2022 and 2021 is largely the result of our net loss for the years.

Investing activities used $332,550 for the year ended December 31, 2023,

1 unchanged sentence

Our negative investing cash flow for 2023

is largely due to the acquisition of Whisl and Smartbiz of $1,889,132 and the purchase of $112,074 of equipment.

is largely due to the purchase of property and equipment.

Financing activities provided $1,833,965 for the year ended December 31,

1 unchanged sentence

Our positive financing cash flow in 2023 was largely the

result of the $1,100,000 from the issuance of new common stock, $400,000 from the exercise of stock options and $500,000 from the issuance

of common stock purchase options.

result of the $1,400,000 from the exercise of warrants.

Based upon our current financial condition, we do not have sufficient cash

36 unchanged sentences

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-K

Item 7. Management’s Discussion and Analysis