Annual report pursuant to Section 13 and 15(d)

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.1
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of Reclassifications
                   
      Before Reclassification           After Reclassification  
      For the Year Ended           For the Year Ended  
      December 31,           December 31,  
      2020           2020  
REVENUES:           REVENUES:        
Technology systems   $ 4,956,130     Technology systems   $ 5,964,801  
Technical support     1,801,043     Services and consulting     2,074,647  
Consulting services     273,604          
AI technologies     1,008,671          
                     
Total Revenue     8,039,448     Total Revenue     8,039,448  
                     
COST OF REVENUES:           COST OF REVENUES:        
Technology systems     3,665,493     Technology systems     5,642,880  
Technical support     1,109,741     Services and consulting     1,139,357  
Consulting services     117,004     Overhead     1,021,375  
AI technologies     360,817          
                     
Total Cost of Revenues     5,253,055     Total Cost of Revenues     7,803,612  
                     
GROSS MARGIN     2,786,393     GROSS MARGIN     235,836  
                     
OPERATING EXPENSES:           OPERATING EXPENSES:        
Sales and marketing     717,809     Sales and marketing     717,809  
Engineering     1,358,925     Research and development     102,219  
Research and development     1,022,188     Administration     6,050,236  
Administration     5,011,913          
AI technologies     1,309,986          
                     
Total Operating Expenses     9,420,821      Total Operating Expenses     6,870,264  
                     
LOSS FROM OPERATIONS   $ (6,634,428 )   LOSS FROM OPERATIONS   $ (6,634,428 )
Schedule of Disaggregation of Revenue Quantitative
                                               
Segments   Rail     Commercial     Petrochemical     Government     Banking/Other     IT
Suppliers
    Artificial
Intelligence
    Total  
Primary Geographical Markets                                                                
North America   $ 6,883,670     $ 213,517     $ (867 )   $ 314,030     $ 23,340     $  134,717     $ 691,510     $ 8,259,917  
                                                                 
Major Goods and Service Lines                                                                
Turnkey Projects   $ 5,255,491     $ 27,831     $     $ 233,145     $ 1,537     $     $     $ 5,518,004  

Maintenance & Support

    1,628,179       185,686       (867 )     80,885       21,803             341,915       2,257,601  
Data Center Auditing Services                                   131,537             131,537  
Software License                                   3,180             3,180  
Algorithms                                         349,595       349,595  
    $ 6,883,670     $ 213,517     $ (867 )   $ 314,030     $ 23,340     $ 134,717     $ 691,510     $ 8,259,917  
                                                                 
Timing of Revenue Recognition                                                                
Goods transferred over time   $ 5,255,491     $ 27,831     $     $ 233,145     $ 1,537     $ 131,537     $ 349,595     $ 5,999,136  
Services transferred over time     1,628,179       185,686       (867 )     80,885       21,803       3,180       341,915       2,260,781  
    $ 6,883,670     $ 213,517     $ (867 )   $ 314,030     $ 23,340     $ 134,717     $ 691,510     $ 8,259,917  

 

Quantitative:

 

For the Year Ended December 31, 2020

 

Segments   Rail     Commercial     Petrochemical     Government     Banking     IT
Suppliers
    Artificial
Intelligence
    Total  
Primary Geographical Markets                                                                
North America   $ 5,558,405     $ 298,705     $ 23,951     $ 687,293     $ 188,819     $ 273,604     $ 1,008,671     $ 8,039,448  
                                                                 
Major Goods and Service Lines                                                                
Turnkey Projects   $ 4,131,155     $ 59,616     $ 33,363     $ 599,481     $ 132,515     $     $     $ 4,956,130  

Maintenance & Support

    1,427,250       239,089       (9,412 )     87,812       56,304                   1,801,043  
Data Center Auditing Services                                   266,449             266,449  
Software License                                   7,155             7,155  
Algorithms                                         1,008,671       1,008,671  
    $ 5,558,405     $ 298,705     $ 23,951     $ 687,293     $ 188,819     $ 273,604     $ 1,008,671     $ 8,039,448  
                                                                 
Timing of Revenue Recognition                                                                
Goods transferred over time   $ 4,131,155     $ 59,616     $ 33,363     $ 599,481     $ 132,515     $ 273,604     $ 1,008,671     $ 6,238,405  
Services transferred over time     1,427,250       239,089       (9,412 )     87,812       56,304                   1,801,043  
    $ 5,558,405     $ 298,705     $ 23,951     $ 687,293     $ 188,819     $ 273,604     $ 1,008,671     $ 8,039,448