Initial general form for registration of a class of securities pursuant to Section 12(g)

Revenue

v3.22.2.2
Revenue
 6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]    
Revenue

Note 10 – Revenue

 

The Company had net revenue for the three and six months ended June 30, 2022 and 2021 as follows:

 

    Three Months     Three Months  
    Ended June 30,     Ended June 30,  
    2022     2021  
             
Dashboards   $ 10,478     $ 14,076  
IT Managed Services     22,620       25,740  
Software and Interfaces     5,580       -  
Support and Maintenance     26,895       24,363  
vCIO Services     13,240       22,500  
Software Licenses Fees     15,247       17,997  
Other     451       -  
                 
Total Net Revenue   $ 94,511     $ 104,676  

 

    Six Months     Six Months  
    Ended June 30,     Ended June 30,  
    2022     2021  
             
Dashboards   $ 24,102     $ -   
IT Managed Services     48,360       46,397  
Software and Interfaces     5,580       8,840  
Support and Maintenance     52,736       118,580  
vCIO Services     27,431       -  
Software Licenses Fees     30,744       43,124  
Other     2,374       -  
                 
Total Net Revenue   $ 191,327     $ 216,941  

 

Generally, work is billed monthly by the hour at agreed upon hourly rates for all of the above revenue streams.

 

For all of the Company’s services, the Company typically has one performance obligation; however, it also provides the customer with an option to acquire additional services. The Company typically provides a menu of offerings from which the customer may choose to purchase. The price of each service is separate and distinct and provides a separate and distinct value to the customer. Pricing is generally consistent for each service irrespective of the other services or quantities requested by the customer.

 

When the Company receives consideration from a customer prior to transferring services to the customer under the terms of the contract, it records deferred revenues on the Company’s consolidated balance sheet, which represents a contract liability.

 

The Company has an internal sales force compensation program where remuneration is based solely on the revenues recognized in the period and does not represent an incremental cost to the Company which provides a future benefit expected to be longer than one year and would meet the criteria to be capitalized and presented as a contract asset on the Company’s consolidated balance sheet.

 

 

Note 10 – Revenue

 

The Company had net revenue for the years ended December 31, 2021 and 2020 as follows:

 

    December 31,     December 31,  
    2021     2020  
             
Dashboards   $ 69,258     $ —  
IT Managed Services     102,960       —  
Software and Interfaces     58,599       15,015  
Support and Maintenance     95,355       299,082  
vCIO Services     65,313       —  
Software Licenses Fees     74,618       204,124  
Other     2,780       10,403  
Total Net Revenue   $ 468,883     $ 528,624  

 

Generally, work is billed monthly by the hour at agreed upon hourly rates for all of the above revenue streams.

 

For all of the Company’s services, the Company typically has one performance obligation; however, it also provides the customer with an option to acquire additional services. The Company typically provides a menu of offerings from which the customer may choose to purchase. The price of each service is separate and distinct and provides a separate and distinct value to the customer. Pricing is generally consistent for each service irrespective of the other services or quantities requested by the customer.

 

When the Company receives consideration from a customer prior to transferring services to the customer under the terms of the contract, it records deferred revenues on the Company’s consolidated balance sheet, which represents a contract liability.

 

The Company has an internal sales force compensation program where remuneration is based solely on the revenues recognized in the period and does not represent an incremental cost to the Company which provides a future benefit expected to be longer than one year and would meet the criteria to be capitalized and presented as a contract asset on the Company’s consolidated balance sheet.