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Reportable segments (Tables)
9 Months Ended
Sep. 30, 2022
Reportable segments  
Summary Of Operating Segment

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Telecommunications

 

$159,104,070

 

 

$107,108,649

 

 

$458,071,311

 

 

$344,194,552

 

Infrastructure

 

 

26,753,059

 

 

 

9,889,437

 

 

 

71,804,320

 

 

 

13,514,232

 

Total

 

$185,857,129

 

 

$116,998,086

 

 

$529,875,631

 

 

$357,708,784

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Loss from operations:

 

 

 

 

 

 

 

 

 

 

 

 

Telecommunications

 

$281,765

 

 

$40,856

 

 

$1,169,017

 

 

$1,317,421

 

Infrastructure

 

 

1,363,736

 

 

 

840,622

 

 

 

4,656,895

 

 

 

100,656

 

Non-operating corporate

 

 

(11,619,477)

 

 

(9,648,538)

 

 

(41,052,238)

 

 

(27,253,232)

Total

 

$(9,973,976)

 

$(8,767,060)

 

$(35,226,326)

 

$(25,835,155)
Reconciliation Of Operating Segment

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Loss from operations

 

$(9,973,976)

 

$(8,767,060)

 

$(35,226,326)

 

$(25,835,155)

Loss of impairment

 

 

-

 

 

 

(18,119,592)

 

 

-

 

 

 

(18,119,592)

Income (loss) from investments, net

 

 

(117,715)

 

 

(840,911)

 

 

(1,140,090)

 

 

3,420,417

 

Amortization of debt discount

 

 

(494,561)

 

 

(1,164,806)

 

 

(7,938,229)

 

 

(2,147,594)

Amortization of debt discount, related party

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(95,127)

Change in fair value of derivative liabilities

 

 

28,669,066

 

 

 

-

 

 

 

28,669,066

 

 

 

(400)

Interest expense

 

 

(520,834)

 

 

(485,542)

 

 

(2,001,615)

 

 

(934,225)

Other income (expense), net

 

 

(3,346,462)

 

 

1,181,781

 

 

 

(2,432,871)

 

 

1,171,343

 

Foreign exchange adjustments

 

 

(24,347)

 

 

251,280

 

 

 

(110,538)

 

 

(261,432)

Total other expenses

 

 

24,165,147

 

 

 

(19,177,790)

 

 

15,045,723

 

 

 

(16,966,610)

Income (loss) from operations before income taxes

 

 

14,191,171

 

 

 

(27,944,850)

 

 

(20,180,603)

 

 

(42,801,765)

Income tax benefit (expense)

 

 

183,184

 

 

 

2,715,260

 

 

 

1,772,804

 

 

 

5,908,091

 

Net income (loss)

 

$14,374,355

 

 

$(25,229,590)

 

$(18,407,799)

 

$(36,893,674)

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Telecommunications

 

$42,253

 

 

$49,048

 

 

$128,175

 

 

$148,643

 

Infrastructure

 

 

390,668

 

 

 

117,383

 

 

 

1,616,865

 

 

 

165,691

 

Total

 

$432,921

 

 

$166,431

 

 

$1,745,040

 

 

$314,334

 

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

Capital expenditures:

 

 

 

 

 

 

Telecommunications

 

$-

 

 

$-

 

Infrastructure

 

 

204,893

 

 

 

1,274,687

 

Total

 

$204,893

 

 

$1,274,687

 

 

 

September 30, 2022

 

 

December 31, 2021

 

Investments:

 

 

 

 

 

 

Telecommunications

 

$-

 

 

$-

 

Infrastructure

 

 

1,399,550

 

 

 

2,279,978

 

Non-operating corporate

 

 

5,180,434

 

 

 

7,438,765

 

Total

 

$6,579,984

 

 

$9,718,743

 

 

 

September 30, 2022

 

 

December 31, 2021

 

Assets:

 

 

 

 

 

 

Telecommunications

 

$79,713,973

 

 

$73,658,598

 

Infrastructure

 

 

84,660,457

 

 

 

56,700,602

 

Non-operating corporate

 

 

106,790,722

 

 

 

79,579,215

 

Eliminations

 

 

(83,620,694)

 

 

(66,328,903)

Total

 

$187,544,458

 

 

$143,609,512