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

Revenue

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Revenue
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]    
Revenue

Note 10 – Revenue

 

The Company had net revenue for the three months ended March 31, 2022 and 2021 as follows:

 

    March 31,     March 31,  
    2022     2021  
             
Dashboards   $ 13,623     $ 14,076  
IT Managed Services     25,740       25,741  
Software and Interfaces     —       8,640  
Support and Maintenance     25,840       22,034  
vCIO Services     14,191       22,500  
Software Licenses Fees     15,497       25,127  
Other     1,002       99  
Total Net Revenue   $ 95,893     $ 118,217  

 

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.