Financial Analysis

NOTE 16 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 years ended December 31, 2025 and 2024, the Company incurred rent expense of $34,366 and $28,539 , respectively. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 9 - LOANS PAYABLE Loans payable at December 31, 2025 and 2024 consisted of the following: December 31, December 31, Interest 2025 2024 Term rate Martus $ 97,401 $ 103,738 Note was issued on October 23, 2018 and due on January 2, 2026 5.0 % Darlene Covid19 60,703 80,019 Note was issued on April 1, 2020 and due on March 31, 2026 0.0 % Promissory note payable 217,391 Note was issued June 11, 2024 and due on June 11, 2025 2.0 % Promissory note payable - acquisition of QXTEL 1,275,000 Note was issued April 1, 2024 and due on June 30, 2025 4.9 % Promissory note payable 271,739 Note was issued July 16, 2024 and due on July 16, 2025 2.0 % Promissory note payable 271,739 Note was issued July 31, 2024 and due on July 31, 2025 2.0 % Promissory note payable 190,217 Note was issued September 23, 2024 and due on September 23, 2025 2.0 % Promissory note payable 108,696 Note was issued October 4, 2024 and due on September 23, 2025 2.0 % Promissory note payable 794,737 Note was issued July 16, 2025 and due on February 26, 2026 24.0 % Promissory note payable 794,737 Note was issued August 8, 2025 and due on March 21, 2026 24.0 % Promissory note payable 794,737 Note was issued September 11, 2025 and due on April 24, 2026 24.0 % Promissory note payable 531,579 Note was issued October 14, 2025 and due on May 27, 2026 24.0 % Promissory note payable 531,579 Note was issued November 10, 2025 and due on June 23, 2026 24.0 % Promissory note payable 531,579 Note was issued December 22, 2025 and du …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 14 PROVISION FOR INCOME TAXES Income (loss) before provision for income taxes consisted of the following for the years ended December 31, 2025 and 2024: 2025 2024 United States $ (8,955,346 ) $ (5,587,111 ) Foreign 566,785 801,105 Total loss before income taxes $ (8,388,561 ) $ (4,786,006 ) The following table presents a reconciliation of the income taxes presented in the Statements of Operations for the years ended December 31, 2025 and 2024: 2025 2024 The federal and state income tax provision (benefit) is summarized as follows: Current: U.S. federal $ 10,785 $ State and local 3,562 Foreign 323,722 255,222 Total current provision for income taxes $ 338,069 $ 255,222 Deferred: U.S. federal $ (517,250 ) $ State and local Foreign 300,886 138,808 Total deferred provision for income taxes $ (216,364 ) $ 138,808 Total: U.S. federal $ (506,465 ) $ State and local 3,562 Foreign 624,608 394,030 Total provision for income taxes $ 121,705 $ 394,030 The Company paid income taxes as follows for the years ended December 31, 2025 and 2024: Income taxes paid: 2025 2024 Federal $ $ Foreign - UK 289,968 279,578 State 4,485 Total paid during the year $ 294,453 $ 279,578 The tax effects of temporary differences that give rise to significant components of the Companys deferred tax assets and liabilities are as follows: 2025 2024 Deferred tax assets Interest carryforward $ 796,380 $ Other 17,181 Net operating losses 6,199,209 3,215,563 Total deferred tax assets 7,012,770 3,215,563 Valuation …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03 Final Standard on Income Statement: Disaggregation of Income Statement Expenses , which requires disaggregated disclosure of income statement expenses for public business entities. The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. This guidance will be effective for us on January 1, 2027. The Company is currently evaluating the impact of adopting ASU 2024-03. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements , which clarifies the guidance in Topic 270 to improve the consistency of interim financial reporting. The ASU provides a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-11. In December 2025, the FASB issued ASU No. 2025-12, Codification Improvements . The ASU addresses thirty-three items, representing the changes to the Codification that …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 15 - RELATED PARTY TRANSACTIONS Due from related party During the years ended December 31, 2025 and 2024, the Company loaned $56,162 and $89,832 to a related party and collected $0 and $33,602 , respectively. At December 31, 2025 and 2024, the Company had amounts due from related parties of $639,519 and $630,715 , respectively. The loans are unsecured, non-interest bearing and due on demand. Due to related parties At December 31, 2025 and 2024, the Company had amounts due to related parties of $65,829 and $26,613 , respectively. The amounts are unsecured, non-interest bearing and due on demand. During the years ended December 31, 2025, a related party paid $39,216 to purchase a vehicle on behalf of the Company. The amounts are unsecured, non-interest bearing and due on demand. Employment agreements During the years ended December 31, 2025 and 2024, the Company recorded management salaries and bonus of $972,000 and $846,000 , respectively, and stock-based compensation bonuses of $81,813 and $223,219 , respectively. On June 23, 2025, the board of directors of the Company approved amended employment agreements in favor of its Chief Executive Officer, Leandro Iglesias, and its Chief Financial Officer, Alvaro Quintana Cardona. In case the monthly remuneration is not set in full on time , the amended agreements provide that Messrs. Iglesias and Quintana may convert their accrued salary/bonus into shares of common stock or Series B Preferred Stock of the Company. For common sto …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE 17 - SEGMENT The Company operates in two industry segments, telecommunication services and fintech services, and three geographic segments, USA, UK and Switzerland, where current assets and equipment are located. The Company's chief operating decision maker (""CODM"") is its chief financial officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. The CODM uses operating activities and net assets to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the rate at which the Company seeks to grow, the allocation of budget between cost of sales and operating expenses and the management of assets. The following tables show reportable operating activities information by industrial segment for the years ended December 31, 2025 and 2024. The Company has two industrial segments since the Company acquired GlobeTopper LLC in July 2025: Year ended December 31, 2025 NOTE 17 - SEGMENT - Industrial Segment (Details) Telecom Fintech Corporate Elimination Total Revenues $ 330,564,828 $ 27,955,101 $ 220,755 $ (41,841,186 ) $ 316,899,498 Cost of revenue 321,346,150 27,403,231 52,770 (41,359,907 ) 307,442,244 Gross profit 9,218,678 551,870 167,985 (481,279 ) 9,457,254 Operating expenses 6,859,006 548,008 6,326,625 (24,375 ) 13,709,264 Operating income (loss) 2,359,672 3,862 (6,158,640 ) (456 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE 2 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). The financial statements have been prepared in accordance with Generally Accepted Accounting Principles (GAAP) of the United States of America. The Companys fiscal year end is December 31. 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 One Inc (Global Money One), Whisl Telecom LLC (Whisl), Smartbiz Telecom LLC (Smartbiz), QXTEL LIMITED (QXTEL) and GlobeTopper LLC (GlobeTopper). All significant intercompany balances and transactions have been eliminated in consolidation. Reverse stock split The Company announced a reverse stock split effective on May 2, 2025 (the Market Effective Date). The Board of Directors of the Company approved a reverse stock split of the Companys authorized, issued and outstanding shares of common stock, par value $0.001 per share (the Common Stock), at a ratio of 1-for-80. Prior to the Reverse Stock Split, the Company was authorized to issue 300,000,000 shares of Common Stock. As a result of the Reverse Stock Split, the Company is authorized to issue 3,750,000 shares of …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

NOTE 13 STOCKHOLDERS EQUITY Common Stock The Companys authorized capital consists of 26,000,000 shares of common stock with a par value of $0.001 per share. During the year ended December 31, 2025, the Company issued 2,130,808 shares of common stock, valued at fair market value on issuance as follows: 475,125 shares for conversion of Series D Preferred Stock 7,500 shares for compensation to our directors valued at $81,813 1,271,720 shares for conversion of debt of $5,640,893 264,980 shares for settlement of debt of $1,886,658 32,400 shares for service valued at $223,200 3,563 shares for common stock payable value at $82,194 75,529 shares for stock dividend valued at $500,000 (9) shares for reverse stock split adjustment During the year ended December 31, 2024, the Company issued 385,589 shares of common stock and 3,563 shares payable, valued at fair market value on issuance as follows: 7,500 shares for compensation to our directors valued at $141,025 37,590 shares for settlement of debt valued at $483,670 44,192 shares in conjunction with convertible notes valued at $597,777 125,000 shares for exercise of warrants for $1,100,000 76,326 shares for conversion of debt of $671,666 30,625 shares issued for cash of $100,000 8,081 shares for the extension of debt valued at $116,364 56,275 shares for conversion of Series B Preferred Stock 3,563 shares of stock payable for service valued at $82,194 recorded as additional paid in capital at December 31, 2024. Shares were issued on Janu …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 18 SUBSEQUENT EVENTS . Subsequent to December 31, 2025 and through the date that these financials were made available, the Company had no subsequent events. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing