2023 Q1 Form 10-Q Financial Statement

#000166357723000243 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $24.67M $19.42M
YoY Change 27.02% 36.78%
Cost Of Revenue $23.45M $18.94M
YoY Change 23.84% 38.11%
Gross Profit $1.217M $484.1K
YoY Change 151.36% -0.68%
Gross Profit Margin 4.93% 2.49%
Selling, General & Admin $1.440M $900.1K
YoY Change 59.95% -39.92%
% of Gross Profit 118.33% 185.95%
Research & Development $45.16K
YoY Change
% of Gross Profit 9.33%
Depreciation & Amortization $34.06K $33.55K
YoY Change 1.52% 63.18%
% of Gross Profit 2.8% 6.93%
Operating Expenses $1.534M $978.8K
YoY Change 56.75% -34.66%
Operating Profit -$317.5K -$494.7K
YoY Change -35.82% -51.05%
Interest Expense $192.7K -$14.89K
YoY Change -1393.89% -95.78%
% of Operating Profit
Other Income/Expense, Net $158.7K -$4.410K
YoY Change -3698.82% -117.95%
Pretax Income -$158.8K -$524.7K
YoY Change -69.73% -72.07%
Income Tax
% Of Pretax Income
Net Earnings -$363.2K -$555.0K
YoY Change -34.56% -71.43%
Net Earnings / Revenue -1.47% -2.86%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 -$3.761K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.777M $4.227M
YoY Change -57.96% 39.38%
Cash & Equivalents $1.777M $4.227M
Short-Term Investments
Other Short-Term Assets $50.86K $141.1K
YoY Change -63.96% 19.77%
Inventory $26.12K
Prepaid Expenses $563.2K
Receivables $3.970M $2.604M
Other Receivables $913.3K $399.6K
Total Short-Term Assets $6.737M $7.372M
YoY Change -8.61% 26.35%
LONG-TERM ASSETS
Property, Plant & Equipment $433.1K $398.9K
YoY Change 8.58% 18.81%
Goodwill $5.172M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $445.1K $441.3K
YoY Change 0.86% 2.14%
Total Long-Term Assets $6.150M $2.478M
YoY Change 148.23% 6.16%
TOTAL ASSETS
Total Short-Term Assets $6.737M $7.372M
Total Long-Term Assets $6.150M $2.478M
Total Assets $12.89M $9.850M
YoY Change 30.84% 20.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.270M $1.522M
YoY Change 49.2% -25.99%
Accrued Expenses $232.7K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $95.41K $336.1K
YoY Change -71.61% -82.56%
Total Short-Term Liabilities $6.301M $2.650M
YoY Change 137.81% -58.66%
LONG-TERM LIABILITIES
Long-Term Debt $100.3K $108.4K
YoY Change -7.55% -56.37%
Other Long-Term Liabilities $156.0K $154.7K
YoY Change 0.86% 2.14%
Total Long-Term Liabilities $256.2K $263.1K
YoY Change -2.61% -34.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.301M $2.650M
Total Long-Term Liabilities $256.2K $263.1K
Total Liabilities $6.557M $1.947M
YoY Change 236.83% -67.11%
SHAREHOLDERS EQUITY
Retained Earnings -$24.87M
YoY Change
Common Stock $164.6K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.049M $7.903M
YoY Change
Total Liabilities & Shareholders Equity $12.89M $9.850M
YoY Change 30.84% 20.58%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$363.2K -$555.0K
YoY Change -34.56% -71.43%
Depreciation, Depletion And Amortization $34.06K $33.55K
YoY Change 1.52% 63.18%
Cash From Operating Activities $197.2K -$447.7K
YoY Change -144.04% -57.05%
INVESTING ACTIVITIES
Capital Expenditures $63.25K -$24.92K
YoY Change -353.8% 35.8%
Acquisitions
YoY Change
Other Investing Activities -$79.70K $0.00
YoY Change -100.0%
Cash From Investing Activities -$142.9K -$24.92K
YoY Change 473.62% -68.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $391.0K 1.368M
YoY Change -71.42% -59.96%
NET CHANGE
Cash From Operating Activities $197.2K -447.7K
Cash From Investing Activities -$142.9K -24.92K
Cash From Financing Activities $391.0K 1.368M
Net Change In Cash $447.8K 895.4K
YoY Change -49.99% -61.0%
FREE CASH FLOW
Cash From Operating Activities $197.2K -$447.7K
Capital Expenditures $63.25K -$24.92K
Free Cash Flow $133.9K -$422.7K
YoY Change -131.68% -58.71%

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-196307 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-564365 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
87361 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
16204 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-24677 usd
CY2023Q1 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-5131 usd
CY2022Q1 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-23316 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
537667 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
73445 usd
CY2023Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-583957 usd
CY2022Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-39091 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
197163 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-447652 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
63247 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24918 usd
CY2023Q1 us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
80000 usd
CY2023Q1 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
300 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-142947 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-24918 usd
CY2023Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
9006 usd
CY2022Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
232018 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1100000 usd
CY2023Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
400000 usd
CY2022Q1 us-gaap Proceeds From Derivative Instrument Financing Activities
ProceedsFromDerivativeInstrumentFinancingActivities
500000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
390994 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1367982 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2627 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-3181 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
447837 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
892231 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1329389 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3334813 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1777226 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4227044 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
3333 usd
CY2023Q1 IQST Resolution Of Derivative Liabilities Value
ResolutionOfDerivativeLiabilitiesValue
240258 usd
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2011-06-24
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zSzY3BW6GWYi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Use of Estimates</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023Q1 us-gaap Security Deposit
SecurityDeposit
20000 usd
CY2023Q1 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
129967 usd
CY2022Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
120139 usd
CY2023Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
20450 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
26600 usd
CY2023Q1 us-gaap Advance Payments Netted Against Claim Receivable
AdvancePaymentsNettedAgainstClaimReceivable
21000 usd
CY2022Q4 us-gaap Advance Payments Netted Against Claim Receivable
AdvancePaymentsNettedAgainstClaimReceivable
21000 usd
CY2023Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
394 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
389 usd
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
362000 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
357500 usd
CY2022Q4 us-gaap Security Deposit
SecurityDeposit
20000 usd
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
9410 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
563221 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
545628 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1125142 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1057650 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
-692023 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
-656629 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
433119 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
401021 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
34060 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
33547 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
195662 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
202492 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
195662 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
202492 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
95407 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
94342 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
100255 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
108150 usd
CY2023Q1 us-gaap Loans Payable
LoansPayable
238610 usd
CY2022Q4 us-gaap Loans Payable
LoansPayable
235949 usd
CY2023Q1 us-gaap Other Loans Payable Current
OtherLoansPayableCurrent
238610 usd
CY2022Q4 us-gaap Other Loans Payable Current
OtherLoansPayableCurrent
235949 usd
CY2023Q1 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p id="xdx_80B_eus-gaap--DerivativesReportingOfDerivativeActivity_zh7htohCwzZ1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 7 – WARRANTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">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, <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20220405__20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_zo6pfi14q8Ke">4,800,000</span> shares of Common Stock with an exercise price per share of $2.00; and an initial exercisable date on <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_c20220405__20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_zbBGHpKqlg72">September 30, 2022</span>. The purchase price of this option was <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_z7anichmzoej">$500,000</span>. 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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_900_eus-gaap--OptionIndexedToIssuersEquitySettlementAlternatives_c20220405__20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_zm1FjQPPlI99">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</span>. Thereafter, the Holder shall undertake to exercise not less than (i) <span id="xdx_900_eus-gaap--OptionIndexedToIssuersEquitySettlementAlternativesCashAtFairValue_iI_c20221114__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_zl32QM4Ek2pg"><span id="xdx_90B_eus-gaap--WarrantsNotSettleableInCashFairValueDisclosure_iI_c20221114_zTjhg8QOICsh">$400,000</span></span> of the Options on a “cash basis” not later than the later of (y) <span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_c20221114__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_zUX8juKsaWwf">November 14, 2022</span> 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 <span id="xdx_905_eus-gaap--OptionIndexedToIssuersEquitySettlementAlternativesCashAtFairValue_iI_c20221214__us-gaap--DebtInstrumentAxis__custom--ApolloOptionAdditionalMember_zpcEyw5Hx5B3">$400,000</span> 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 <span id="xdx_90D_eus-gaap--OptionIndexedToIssuersEquitySettlementAlternativesCashAtFairValue_iI_c20221214__us-gaap--DebtInstrumentAxis__custom--ApolloOptionEachAdditionalMember_zES9qKeWoK97">$200,000 </span>and exercised only on a cash basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_90A_eus-gaap--DebtInstrumentCallFeature_c20220101__20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--ApolloManagementGroupMember_zAcYCz34Rjhg">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 shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of activity regarding warrants issued as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zHXYubaUvi6h" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto" summary="xdx: Disclosure - NOTE 7 - WARRANTS - Schedule of Warrant Summary (Details)"> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><b> </b></td> <td colspan="7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Warrants Outstanding</b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="3"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td><b> </b></td> <td colspan="3"><b> </b></td><td style="font: 10pt Times New Roman, Times, Serif"><b> </b></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Weighted Average</b></td><td style="font: 10pt Times New Roman, Times, Serif"><b> </b></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Weighted Average Remaining</b></td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Warrants</b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Exercise Price</b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Contractual life (in years)</b></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="3"> </td><td> </td> <td colspan="3"> </td><td> </td> <td colspan="3"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 47%; padding-left: 5.4pt">Outstanding, December 31, 2022</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20221231_z78TTjkoaQA3">23,112,575</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20221231_z9hpHPWM286i">0.17</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20221231_zYZ15ypSdUt">0.75</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20230101__20230331_zim5C4DJpkr7"><span style="-sec-ix-hidden: xdx2ixbrl0656">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20230331_zLX7eNBsR2Q9"><span style="-sec-ix-hidden: xdx2ixbrl0657">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_ecustom--WeightedAverageRemainingLifeOfWarrantsGrantedInPeriod_d0_c20230101__20230331_z1ydReCOtkAg"><span style="-sec-ix-hidden: xdx2ixbrl0658">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt">Increase in number of warrants by VWAP</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease_c20230101__20230331_zN5eSrtxDK98">5,262,465</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_ecustom--IncreaseInNumberOfWarrantsWeightedAverageExercisePrice_c20230101__20230331_z0ihB3NUU5Cf">0.14</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsIncreasedByVWAPOutstandingWeightedAverageRemainingLife_d0_c20230101__20230331_z7v8QxC58aY2"><span style="-sec-ix-hidden: xdx2ixbrl0661">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt">Exercised</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20230101__20230331_zDf3Vxpf0Gjk">2,941,177</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20230101__20230331_zrer9Rkhc0ee">0.14</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230101__20230331_z5yUXNOQWg9b">0.70</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 5.4pt">Forfeited/canceled</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20230101__20230331_zuCtquxU5fXg"><span style="-sec-ix-hidden: xdx2ixbrl0665">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20230101__20230331_zbcN4Nu3cR1i"><span style="-sec-ix-hidden: xdx2ixbrl0666">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTermsOfForfeited_d0_c20230101__20230331_zsRXPtAZUkI9"><span style="-sec-ix-hidden: xdx2ixbrl0667">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt">Outstanding, March 31, 2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20230331_zgz2Ql78eJLg">25,433,863</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20230331_zcULqLXRPLs1">0.14</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20230331_zby3q6iBrMh6">0.50</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/>
CY2022Q4 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
400000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
23112575 shares
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
0.17
CY2022Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P0Y9M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
5262465 shares
CY2023Q1 IQST Increase In Number Of Warrants Weighted Average Exercise Price
IncreaseInNumberOfWarrantsWeightedAverageExercisePrice
0.14
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
2941177 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0.14
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P0Y8M12D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
25433863 shares
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
0.14
CY2023Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P0Y6M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0467 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0494 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0006 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0473 pure
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
1357787 usd
CY2023Q1 IQST Resolution Of Derivative Liabilities Value
ResolutionOfDerivativeLiabilitiesValue
240258 usd
CY2023Q1 us-gaap Debt Securities Held To Maturity Transfer Derivative Hedge Gain Loss
DebtSecuritiesHeldToMaturityTransferDerivativeHedgeGainLoss
196307 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
921222 usd
CY2023Q1 IQST Revaluation Of Derivative Liabilities
RevaluationOfDerivativeLiabilities
196307 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
196307 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
60000 shares
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
11230 usd
CY2023Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
400000 usd
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
164596688 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
161595511 shares
CY2023Q1 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
400893 usd
CY2022Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
326324 usd
CY2022Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
26613 usd
CY2022Q1 us-gaap Management Fee Expense
ManagementFeeExpense
144000 usd
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
11230 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
41139 usd
CY2023Q1 us-gaap Financial Guarantee Insurance Contracts Risk Management Activities Mitigating Claim Liabilities Accrued Liabilities
FinancialGuaranteeInsuranceContractsRiskManagementActivitiesMitigatingClaimLiabilitiesAccruedLiabilities
104628 usd
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
900 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
20150 usd
CY2023Q1 us-gaap Revenues
Revenues
24666529 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
23449793 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
1216736 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1534266 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-317530 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
158708 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-158822 usd
CY2022Q1 us-gaap Revenues
Revenues
19419311 usd
CY2022Q1 us-gaap Cost Of Revenue
CostOfRevenue
18935251 usd
CY2022Q1 us-gaap Gross Profit
GrossProfit
484060 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
989498 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-505438 usd
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-19293 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-524731 usd
CY2023Q1 us-gaap Assets Current
AssetsCurrent
6736967 usd
CY2023Q1 us-gaap Assets Noncurrent
AssetsNoncurrent
6149957 usd
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
6301031 usd
CY2023Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
256233 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
6436590 usd
CY2022Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
6112894 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
6451679 usd
CY2022Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
262388 usd

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