Charge Enterprises (CRGEQ) 10-Q 14 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 02, 2023
Cover [Abstract]
Entity Registrant Name	CHARGE ENTERPRISES, INC.
Entity Central Index Key	0001277250
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		214,984,545
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-253073
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	90-0471969
Entity Address Address Line 1	125 Park Avenue
Entity Address Address Line 2	25th Floor
Entity Address City Or Town	New York
Entity Address State Or Province	NY
Entity Address Postal Zip Code	10017
City Area Code	212
Local Phone Number	921-2100
Security 12b Title	Common Stock, par value $.0001 per share
Trading Symbol	CRGE
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 50,142	$ 26,837
Restricted cash	886	886
Accounts receivable net of allowances of $184 in 2023 and $322 in 2022	74,036	72,405
Inventory	118	111
Deposits, prepaids and other current assets	2,298	3,187
Investments in marketable securities	11,597	6,757
Investments in non-marketable securities	236	236
Contract assets	7,290	6,090
Total current assets	146,603	116,509
Property, plant and equipment, net	553	732
Finance lease right-of-use asset	600	341
Operating lease right-of-use asset	3,323	4,028
Non-current assets	248	240
Goodwill	12,672	12,672
Intangible assets, net	31,865	33,932
Total Assets	195,864	168,454
Current liabilities
Accounts payable	87,946	61,644
Accrued liabilities	7,801	11,121
Contract liabilities	24,765	13,741
Derivative liability	59	6,521
Finance lease liability	163	112
Operating lease liability	1,336	1,579
Current portion of long-term debt	26,136	29,180
Total current liabilities	148,206	123,898
Non-current liabilities
Finance lease liability, non-current	374	146
Operating lease liability, non-current	1,809	2,199
Net deferred tax liability	1,170	1,410
Total Liabilities	151,559	127,653
Mezzanine Equity
Series C Preferred Stock (6,226,370 shares issued and outstanding at June 30, 2023, and December 31, 2022)	16,572	16,572
Total Mezzanine Equity	16,572	16,572
Preferred stock, $0.0001 par value, 20,000,000 shares authorized;
Common stock, $0.0001 par value; 750,000,000 shares authorized 212,899,281 and 206,844,580 issued and outstanding at June 30, 2023 and December 31, 2022, respectively	21	20
Additional paid in capital	201,989	179,723
Accumulated other comprehensive income (loss)	0	0
Accumulated deficit	(174,277)	(155,514)
Total Stockholders' Equity	27,733	24,229
Total Liabilities and Stockholders' Equity	195,864	168,454
Series D Preferred Stock [Member]
Preferred stock, $0.0001 par value, 20,000,000 shares authorized;
Series D: 1,177,023 shares issued and outstanding at June 30, 2023, and December 31, 2022	0	0
Series E Preferred Stock [Member]
Preferred stock, $0.0001 par value, 20,000,000 shares authorized;
Series D: 1,177,023 shares issued and outstanding at June 30, 2023, and December 31, 2022	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Allowance for Doubtful Accounts Receivable	$ 184	$ 322
Preferred stock, Par Value	$ 0.0001	$ 0.0001
Preferred stock, Authorized	20,000,000	20,000,000
Common stock, Par Value	$ 0.0001	$ 0.0001
Common stock, Authorized	750,000,000	750,000,000
Common stock, shares issued	212,899,281	206,844,580
Common stock, shares outstanding	212,899,281	206,844,580
Series D Preferred Stock [Member]
Preferred stock, shares issued	1,177,023	1,177,023
Preferred stock, shares outstanding	1,177,023	1,177,023
Series E Preferred Stock [Member]
Preferred stock, shares issued	3,200,000	0
Preferred stock, shares outstanding	3,200,000	0
Series C Preferred Stock [Member]
Preferred stock, shares issued	6,226,370	6,226,370
Preferred stock, shares outstanding	6,226,370	6,226,370

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Consolidated Statements of Operations (Unaudited)
Revenues	$ 147,586	$ 181,041	$ 341,135	$ 344,019
Cost of sales	139,838	174,767	327,098	332,383
Gross profit	7,748	6,274	14,037	11,636
Operating expenses
General and administrative	5,433	6,452	10,539	12,059
Salaries and related benefits	9,156	7,799	18,283	15,747
Professional fees	446	848	912	1,912
Depreciation and amortization expense	1,192	1,103	2,402	1,312
Total operating expenses	16,227	16,202	32,136	31,030
(Loss) from operations	(8,479)	(9,928)	(18,099)	(19,394)
Other income (expenses):
Income (loss) from investments, net	666	(973)	962	(1,143)
Change in fair value of derivative liabilities	280	0	1,656	0
Interest expense	(1,488)	(7,160)	(3,026)	(8,924)
Loss on impairment	(58)	0	(58)	0
Other income (expense), net	637	776	1,028	1,034
Foreign exchange adjustments	(162)	170	(169)	(87)
Total other income (expenses), net	(125)	(7,187)	393	(9,120)
(Loss) before income taxes	(8,604)	(17,115)	(17,706)	(28,514)
Income tax (expense) benefit	(242)	(45)	(352)	1,328
Net (loss)	(8,846)	(17,160)	(18,058)	(27,186)
Less: Deemed dividend	0	(32,841)	0	(36,697)
Less: Preferred dividends	(362)	(353)	(724)	(620)
Net (loss) available to common stockholders	$ (9,208)	$ (50,354)	$ (18,782)	$ (64,503)
Basic income (loss) per share available to common stockholders	$ (0.04)	$ (0.26)	$ (0.09)	$ (0.34)
Diluted income (loss) per share available to common stockholders	$ (0.04)	$ (0.26)	$ (0.09)	$ (0.34)
Weighted average number of shares outstanding, basic	212,858	193,508	209,974	190,966
Weighted average number of shares outstanding, diluted	212,858	193,508	209,974	190,966

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Net (loss)	$ (8,846)	$ (17,160)	$ (18,058)	$ (27,186)
Other comprehensive income (loss), net of tax
Components of comprehensive income (loss)	0	0	0	0
Other comprehensive income (loss), net of tax	0	0	0	0
Comprehensive (loss)	$ (8,846)	$ (17,160)	$ (18,058)	$ (27,186)

Statements Of Stockholders' Equ

Statements Of Stockholders' Equity (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Common Stock To Be Issued	Additional Paid-In Capital	Accumulated other comprehensive income	Retained Earnings (Accumulated Deficit)
Balance, shares at Dec. 31, 2021		2,370,370,000	184,266,934	6,587,897
Balance, amount at Dec. 31, 2021	$ 14,348,000	$ 0	$ 18,000	$ 1,000	$ 117,727,000	$ (32,000)	$ (103,366,000)
Modified retrospective application of stock-based compensation accounting	(205,000)				(3,320,000)		3,115,000
Share based compensation	10,744,000	0	0	0	10,744,000	0	0
Declaration of preferred dividends	267,000	$ 0	0	0	0	0	267,000
Series C Preferred Stock, shares		3,856,000
Series C Preferred Stock, amount	12,050,000	$ 0	0	0	12,050,000	0	0
Beneficial conversion feature arising from preferred stock	2,651,000	0	0	0	2,651,000	0	0
Deemed dividend in connection with Series C Preferred Stock	(3,856,000)	0	$ 0	0	0	0	(3,856,000)
Common stock issued for acquisition, shares			5,201,863
Common stock issued for acquisition, amount	17,531,000	0	$ 1,000	0	17,530,000	0	0
Conversion of debt into common stock, shares			319,950
Conversion of debt into common stock, amount	80,000	0	$ 0	0	80,000	0	0
Net loss	(13,141,000)	$ 0	$ 0	$ 0	0	0	(13,141,000)
Balance, shares at Mar. 31, 2022		6,226,370	189,788,747	6,587,897
Balance, amount at Mar. 31, 2022	39,935,000	$ 0	$ 19,000	$ 1,000	157,462,000	(32,000)	(117,515,000)
Modified retrospective application of stock-based compensation accounting	(56,000)				(2,538,000)		2,482,000
Share based compensation	9,343,000	0	0	0	9,343,000	0	0
Declaration of preferred dividends	353,000	0	0	0	0	0	353,000
Net loss	(19,642,000)	$ 0	0	0	0	0	(19,642,000)
Series D Preferred Stock, shares		1,177,023
Series D Preferred Stock, amount	12,499,000	$ 0	$ 0	0	12,499,000	0	0
Common stock issued for private placement, shares			1,428,575
Common stock issued for private placement, amount	4,696,000	0	$ 0	0	4,696,000	0	0
Issuance of warrants for private placement	5,304,000	0	$ 0	$ 0	5,304,000	0	0
Issuance of shares committed in prior period, shares			1,862,146	(1,862,146)
Issuance of shares committed in prior period, amount	0	$ 0	$ 0	$ 0	0	0	0
Settlement of holdback shares for acquisition, shares		0	4,725,748	(4,725,748)
Settlement of holdback shares for acquisition, amount	(1,000)	$ 0	$ 0	$ (1,000)	0	0	0
Exercise of warrants, shares		0	5,973,515	0
Exercise of warrants, amount	1,073,000	$ 0	$ 1,000	$ 0	1,072,000	0	0
Exercise of stock options, shares		0	10,000	0
Exercise of stock options, amount	20,000	$ 0	$ 0	$ 0	20,000	0	0
Vesting of restricted stock units, shares		0	138,327	0
Vesting of restricted stock units, amount	0	$ 0	$ 0	$ 0	0	0	0
Conversion of Series B Preferred into common stock, shares		0	2,155,594	0
Conversion of Series B Preferred into common stock, amount	6,165,000	$ 0	$ 0	$ 0	6,165,000	0	0
Classification of Preferred C to Mezzanine Equity, shares		(6,226,370)	0	0
Classification of Preferred C to Mezzanine Equity, amount	(12,684,000)	$ 0	$ 0	$ 0	(18,940,000)	0	6,256,000
Deemed dividend in connection with reclass of warrants to Derivative Liability	(40,442,000)	$ 0	$ 0	$ 0	(7,601,000)	0	(32,841,000)
Other, shares		0	0	(3)
Other, amount	0	$ 0	$ 0	$ 0	0	0	0
Balance, shares at Jun. 30, 2022		1,177,023	206,082,652	0
Balance, amount at Jun. 30, 2022	5,857,000	$ 0	$ 20,000	$ 0	167,482,000	(32,000)	(161,613,000)
Balance, shares at Dec. 31, 2022		1,177,023	206,844,580	0
Balance, amount at Dec. 31, 2022	24,229,000	$ 0	$ 20,000	$ 0	179,723,000	0	(155,514,000)
Share based compensation	5,902,000	0	0	0	5,902,000	0	0
Declaration of preferred dividends	362,000	$ 0	$ 0	$ 0	0	0	362,000
Common stock issued for acquisition, shares		0	1,530,145	0
Common stock issued for acquisition, amount	2,752,000	$ 0	$ 0	$ 0	2,752,000	0	0
Net loss	(9,212,000)	$ 0	$ 0	$ 0	0	0	(9,212,000)
Exercise of warrants, shares		3,200,000	4,400,000	0
Exercise of warrants, amount	3,800,000	$ 0	$ 1,000	$ 0	3,799,000	0	0
Exercise of stock options, shares		0	75,000	0
Exercise of stock options, amount	43,000	$ 0	$ 0	$ 0	43,000	0	0
Share based compensation, shares		0	(444)	0
Derivative liability impact to exercise of warrants	4,806,000	$ 0	$ 0	$ 0	4,806,000	0	0
Balance, shares at Mar. 31, 2023		4,377,023	212,849,281	0
Balance, amount at Mar. 31, 2023	31,958,000	$ 0	$ 21,000	$ 0	197,025,000	0	(165,088,000)
Balance, shares at Dec. 31, 2022		1,177,023	206,844,580	0
Balance, amount at Dec. 31, 2022	$ 24,229,000	$ 0	$ 20,000	$ 0	179,723,000	0	(155,514,000)
Exercise of stock options, shares	75,000
Balance, shares at Jun. 30, 2023		4,377,023	212,899,281	0
Balance, amount at Jun. 30, 2023	$ 27,733,000	$ 0	$ 21,000	$ 0	201,989,000	0	(174,277,000)
Balance, shares at Mar. 31, 2023		4,377,023	212,849,281	0
Balance, amount at Mar. 31, 2023	31,958,000	$ 0	$ 21,000	$ 0	197,025,000	0	(165,088,000)
Share based compensation	4,964,000	0	0	0	4,964,000	0	0
Declaration of preferred dividends	362,000	0	0	0	0	0	362,000
Net loss	(8,846,000)	0	0	0	0	0	(8,846,000)
Other, amount	19,000	$ 0	$ 0	$ 0	0	0	19,000
Share based compensation, shares		0	50,000	0
Balance, shares at Jun. 30, 2023		4,377,023	212,899,281	0
Balance, amount at Jun. 30, 2023	$ 27,733,000	$ 0	$ 21,000	$ 0	$ 201,989,000	$ 0	$ (174,277,000)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from Operating Activities:
Net loss	$ (18,058)	$ (27,186)
Adjustments to reconcile net loss to net cash provided by operating activities:
Amortization	2,067	861
Depreciation	335	451
Stock-based compensation	10,866	14,228
Change in fair value of derivative liabilities	(1,656)	0
Amortization of debt discount	1,980	7,444
Loss on foreign currency exchange	169	87
Loss on impairment	58	0
Net loss (gain) from investments	(962)	1,143
Other expense, net	(794)	(855)
Change in deferred income taxes	(219)	(1,328)
Changes in working capital requirements:
Accounts receivable	(1,776)	(1,856)
Inventory	(6)	(57)
Deposits, prepaids and other current assets	112	(304)
Other assets / liabilities	124	(30)
Contract assets	(1,200)	(3,445)
Accounts payable	26,477	27,162
Other current liabilities	186	1,062
Contract liabilities	11,024	(1,741)
Net cash provided by operating activities	28,727	15,636
Cash flows from Investing Activities:
Acquisition of property, plant and equipment	(102)	(70)
Sale of Intellectual Property	794	159
Purchase of marketable securities	(22,530)	(43,255)
Sale of marketable securities	18,612	34,901
Acquisition of EV Depot	1	(1,231)
Cash acquired in acquisitions	0	104
Net cash (used in) investing activities	(3,225)	(9,392)
Cash flows from Financing Activities:
Proceeds from sale of common stock	0	10,000
Proceeds from sale of Series C preferred stock	0	10,845
Proceeds from issuance of Series E preferred stock	1,600	0
Proceeds from exercise of warrants	2,200	1,072
Proceeds from exercise of stock options	41	20
Draws from revolving line of credit	4,717	10,409
Payments on revolving line of credit	(9,741)	(9,550)
Payment on financing lease	(141)	(102)
Payment of dividends on preferred stock	(724)	(498)
Net cash (used in) provided by financing activities	(2,048)	22,196
Effect of foreign exchange rate changes	(149)	(97)
Net Increase in Cash and Cash Equivalents	23,305	28,343
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	27,723	18,238
Cash, Cash Equivalents, and Restricted Cash, End of Period	51,028	46,581
Cash paid for interest expense	969	1,477
Cash paid for income taxes	718	0
Non-cash investing and financing activities:
Issuance of common stock for acquisition	$ 0	$ 17,530

Nature of operations

Nature of operations	6 Months Ended
	Jun. 30, 2023
Nature of operations
Nature Of Operations	Note 1. Nature of operations Charge Enterprises, Inc. (the “Company”), (formerly known as “Transworld Holdings, Inc.”, “GoIP Global, Inc.” and “E Education Network, Inc.”) was incorporated in Nevada in 2003. The Company was subsequently redomiciled in Delaware. The Company is an electrical, broadband and electric vehicle (“EV”) charging infrastructure company that provides clients with end-to-end project management services, from advising, designing, engineering, acquiring and installing equipment, to monitoring, servicing, and maintenance. The Company’s vision is to be a leader in enabling the next wave of transportation and connectivity. By building, designing, and operating seamless infrastructure for charging EVs and high-speed broadband, the Company aims to create a future where transportation is safe, reliable, clean, efficient, and connected. The Company has two operating segments which also represent the Company’s reportable segments: • Infrastructure, which has a primary focus on EV charging (“EVC”), broadband, including cell tower, small cell, and in-building applications, and electrical contracting services. • Telecommunications, which provides connection of voice calls, Short Message Services (“SMS”), and data to global carriers.

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
	Jun. 30, 2023
Summary of significant accounting policies
Summary Of Significant Accounting Policies	Note 2. Summary of significant accounting policies Basis of Presentation The interim unaudited consolidated financial statements included herein have been prepared by the Company in accordance with: (i) generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information; and (ii) the instructions of the Securities and Exchange Commission (the “SEC”) for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, the consolidated financial statements reflect all adjustments considered necessary for a fair statement of the results of operations and financial position for the interim periods presented. All such adjustments are of a normal and recurring nature. The Company’s results shown on an interim basis are not necessarily indicative of results for a full year. This Form 10-Q should be read in conjunction with the current report on Form 8-K filed with the SEC on May 10, 2023 (the “May 10, 2023 Form 8-K”) and the consolidated financial statements and related notes included in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2022, and filed with the SEC on March 15, 2023, as part of the Company’s Annual Report on Form 10-K (the "2022 Annual Report"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. There have been no material changes from Note 2, Summary of significant accounting policies, as described in the notes to the Company’s consolidated financial statements contained in the May 10, 2023 Form 8-K and the 2022 Annual Report, other than as noted below. The Company is an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and the Company has and intends to continue to take advantage of certain exemptions from various reporting requirements. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements and related disclosures, presented in U.S. dollars, have been prepared in accordance with U.S. GAAP and pursuant to the rules and regulations of the SEC. The results and trends in these consolidated financial statements may not be representative for any future periods or the full year. Revenue Nature of Services Infrastructure The Company’s Infrastructure segment revenues are derived from: (i) broadband and wireless; (ii) electrical contracting services; (iii) electric vehicle charging infrastructure; and (iv) fleet services. Broadband and wireless, electrical contracting, and electric vehicle charging infrastructure primarily involve design, engineering and construction services. Types of services typically include providing: (i) end-to-end network design and implementation services for telecommunication and wireless carriers, cable companies and enterprise organizations; (ii) cell tower construction and modification services for national and regional wireless service providers, tower owners, and federal, state, and local government agencies; (iii) cellular distributed antenna systems (“DAS”) and bi-directional antenna (“BDA”) public safety systems from initial Radio Frequency (“RF”) site assessment, through design, engineering, implementation, and testing; (iv) DAS maintenance and monitoring service, including an in-house 24 hour network operations center, utilizing Software-as-a-Service cloud-based software and customized maintenance program; (v) scalable and energy-efficient mission critical power systems to meet the demand of data equipment deployment for mission critical data centers; (vi) electrical and telecommunications construction and facilities services to commercial, industrial, and institutional facilities; and (vii) end-to-end solutions for safe, reliable, flexible and scalable charging ecosystems. Projects can be performed under individual contracts or a statement of work under a master service agreement, which are generally multi-year agreements. The typical length of projects can vary and depends on size and complexity: broadband and wireless – two to three months; electrical contracting services – six months to three years; electric vehicle charging infrastructure – three to twelve months. The types of services for fleet services primarily involve leasing and maintenance of real property to commercial and fleet operator customers in return for payment. Lease agreements include fixed payments and vary in length from 12 months to 3 years. Telecommunications The Company’s Telecommunications segment revenues are derived from operating a global telecommunication network consisting of domestic switching and related peripheral equipment, carrier-grade routers, and switches for internet and circuit-based services. Types of services typically include providing: (i) routing of voice, data, and Short Message Services (“SMS”) to Carriers and Mobile Network Operators (“MNO”) globally; and (ii) customers with internet-protocol-based and time-division multiplexing (“TDM”) access for the transport of long-distance voice and data minutes. The Company’s Telecommunications segment operates an extensive network of direct routes and offers premium voice communication services for carrying a mix of business, residential and carrier long-distance traffic, data and transit traffic. Telecommunications has both a customer and vendor relationship with most parties. Telecommunications provides the customer routing services through the Telecommunications supplier routes on incoming calls and then Telecommunications purchases routing services from other vendor’s supplier routes in order to complete the call. Revenue Recognition Revenue is recognized when a customer obtains control of promised services. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those services. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised services in the contract; (ii) determination of whether the promised services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company’s primary revenue stream is from services. The Company recognizes as revenues the amount of the transaction price for the performance obligation when the performance obligation is satisfied or as it is satisfied. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer, in an amount that reflects the consideration it expects to be entitled to in exchange for those products or services. The Company evaluates when it is appropriate to recognize revenues based on the gross amount invoiced to the customer or the net amount retained by the Company if a third party is involved. A contract liability for deferred revenue is recorded when consideration is received or is unconditionally due from a customer prior to transferring control of goods or services to the customer under the terms of a contract. Deferred revenue balances typically result from advance payments received from customers for contracts or from billings in excess of revenue recognized on services arrangements. Contract assets represent when revenues are recognized in advance of invoice issuance. These assets are presented separately on the consolidated balance sheet and are converted to accounts receivable once the Company’s right to the consideration becomes unconditional, which varies by contract but is generally based on achieving certain acceptance milestones. The Company recognizes the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset would be one year or less. Infrastructure Broadband and wireless, electrical contracting services, and electric vehicle charging projects often require significant services to integrate complex activities and equipment into a single deliverable and are therefore generally accounted for as a single performance obligation, even when delivering multiple services that are capable of being distinct. Contract amendments and change orders, which are generally not distinct from the existing contract, are typically accounted for as a modification of the existing contract and performance obligation. The Company recognizes revenues from these services over time using an input method, based on assessment of performance completed to date. The Company uses the percentage of completion method when it measures its progress towards completion of the performance obligation based on the ratio of costs incurred to date to total estimated costs at completion under the contract. The Company believes that this approach faithfully depicts the Company’s performance toward complete satisfaction of the performance obligation as it accurately measures the transfer of control of the finished product to the customer. Due to the nature of the Company’s performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, the performance of subcontracts, and the availability and timing of funding from the customer, among other variables. As a significant change in one or more of these estimates could affect the profitability of contracts, the Company updates contract-related estimates regularly through a review process in which management evaluates the progress and execution of each performance obligation and the estimated cost at completion. As part of this process, management reviews information including, but not limited to, any outstanding key contract matter, progress towards completion and the related program schedule and the related changes in estimates of revenues and costs. The Company recognizes adjustments in estimated profit on contracts on a cumulative catch-up basis. Therefore, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, the Company recognizes a provision for the entire loss in the period it is identified. The nature of the Company’s contracts gives rise to several types of variable consideration, including claims and unpriced change orders. The Company includes variable consideration in the estimated transaction price when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The Company estimates the amount of variable consideration to be included in the transaction price, using the expected value or the most likely amount method, which is expected to better predict the amount. The Company’s estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on assessments of legal enforceability, performance, and all information that is reasonably available to the Company. Fleet services include a single deliverable of leased parking spaces. The Company recognizes revenues from these services evenly over the life of the contracts. Telecommunications The amount of consideration the Company receives and revenue it recognizes is fixed based upon contractually agreed upon rates. The Company recognizes revenue at a point in time when the voice, data and SMS are routed, and the performance obligation is satisfied. Revenue is earned based on the number of minutes during a call multiplied by the price per minute and is recorded upon completion of a call. Incomplete calls are not revenues earned by Telecommunications and may occur as a result of technical issues or because the customer’s credit limit was exceeded and thus the customer routing of traffic was prevented. Telecommunications evaluates gross versus net revenue recognition for each of its contractual arrangements by assessing indicators of control to determine whether Telecommunications acts as a principal (i.e., gross recognition) or an agent (i.e., net recognition). Telecommunications has determined that it acts as a principal for all of its performance obligations as Telecommunications may accept or reject calls, determines the routing decision and routing vendor and has the risk of financial loss on revenues from customers and amounts owed to the vendors. Net revenue represents gross revenue, net of allowance for doubtful accounts receivable, service credits and service adjustments. Cost of revenue includes network costs that consist of access, transport and termination costs. The majority of Telecommunications’ cost of revenue is variable, primarily based upon minutes of use, with transmission and termination costs being the most significant expense. Refer to Note 4, Revenue, for additional information on the Company’s revenue. Cost of Sales Cost of sales consists primarily of network telecommunication costs, contracted services, salaries and related employee benefits, including stock-based compensation, material and equipment costs, travel and other costs related to vehicles, training and lease expense. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments In October 2021, the FASB issued ASU No. 2021-08, Business Combinations - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity . Reclassification Certain amounts included in the prior year financial statements and disclosures have been reclassified to conform to the current year presentation. These reclassifications did not have a material impact on the Company’s previously reported financial statements. Change in Accounting Principle Effective January 1, 2023, the Company changed its accounting principle for recognizing stock-based compensation expense from the graded vesting attribution method, where an award is divided into vesting increments or tranches, to the straight-line attribution method of accounting. The Company believes the straight-line attribution method more accurately reflects how awards are earned over its employees’ service periods. Also, it is the predominant method used in its industry, and therefore it better aligns the Company’s recognition of stock-based compensation expense with its peers. The retrospective application of the change in accounting principle had an effect on the consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income (loss) and consolidated statements of stockholders’ equity. There was no net effect to the amounts reported for net cash provided by (used in) operating, investing or financing activities in the consolidated statements of cash flows for prior periods as a result of the change in accounting method. However, the net loss, change in deferred income taxes and stock-based compensation line items within net cash flows provided by operating activities each decreased as shown below to reflect the change in accounting method. The following tables present the comparative effect of the change in accounting principle and its effect on the Company’s previously reported financial statements. Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 (amounts, in thousands, except per share data) Stock-based compensation Prior to revision $ 5 $ 9,761 $ 5,547 $ 20,505 Revision 4,959 (2,538 ) 5,319 (5,858 ) As revised $ 4,964 $ 7,223 $ 10,866 $ 14,647 Loss from operations Prior to revision $ (3,520 ) $ (12,466 ) $ (12,780 ) $ (25,252 ) Revision (4,959 ) 2,538 (5,319 ) 5,858 As revised $ (8,479 ) $ (9,928 ) $ (18,099 ) $ (19,394 ) Income tax benefit (expense) Prior to revision $ (242 ) $ 11 $ (352 ) $ 1,589 Revision - (56 ) - (261 ) As revised $ (242 ) $ (45 ) $ (352 ) $ 1,328 Net income (loss) Prior to revision $ (3,887 ) $ (19,642 ) $ (12,739 ) $ (32,783 ) Revision (4,959 ) 2,482 (5,319 ) 5,597 As revised $ (8,846 ) $ (17,160 ) $ (18,058 ) $ (27,186 ) Basic income (loss) per share available to common stockholders Prior to revision $ (0.02 ) $ (0.27 ) $ (0.06 ) $ (0.37 ) Revision (0.02 ) 0.01 (0.03 ) 0.03 As revised $ (0.04 ) $ (0.26 ) $ (0.09 ) $ (0.34 ) Diluted income (loss) per share available to common stockholders Prior to revision $ (0.02 ) $ (0.27 ) $ (0.06 ) $ (0.37 ) Revision (0.02 ) 0.01 (0.03 ) 0.03 As revised $ (0.04 ) $ (0.26 ) $ (0.09 ) $ (0.34 ) The opening balances of accumulated deficit and additional paid in capital as of December 31, 2021, have been adjusted by $8.0 million and $9.1 million, respectively to reflect the cumulative effect of the change. As of June 30, December 31, 2023 2022 (amounts, in thousands) Net deferred tax (liability) asset Prior to revision $ (1,144 ) $ (1,389 ) Revision (26 ) (21 ) As revised $ (1,170 ) $ (1,410 ) Additional paid in capital Prior to revision $ 214,763 $ 197,816 Revision (12,774 ) (18,093 ) As revised $ 201,989 $ 179,723 Accumulated deficit Prior to revision $ (187,025 ) $ (173,586 ) Revision 12,748 18,072 As revised $ (174,277 ) $ (155,514 ) Total stockholders' equity Prior to revision $ 27,759 $ 24,250 Revision (26 ) (21 ) As revised $ 27,733 $ 24,229 Stock-based compensation correction of immaterial error In 2023, the Company identified a misstatement related to its presentation of stock-based compensation in its consolidated statements of operations. Although determined to be immaterial, the Company elected to correct the immaterial misstatement and reclassified its stock-based compensation expense to the same financial statement line item as cash compensation paid to the same employees and nonemployees. The reclassification reflects the change in accounting principle discussed above and had no incremental impact on the consolidated balance sheets, consolidated statements of comprehensive income (loss), consolidated statements of stockholders’ equity, or consolidated statement of cash flows. There was no net effect to the amounts reported for (loss) from operations as a result of this reclassification. However, cost of sales, gross profit, stock-based compensation, general and administrative, salaries and related benefits, and total operating expenses each were adjusted as shown below to reflect the reclassification. The following tables present the effect of the reclassification on the Company’s previously reported financial statements. Year Ended December 31, 2022 2021 2020 (amounts, in thousands) Cost of sales Prior to revision $ 669,620 $ 465,503 $ 83,554 Revision 2,503 1,771 - As revised $ 672,123 $ 467,274 $ 83,554 Gross Profit Prior to revision $ 28,213 $ 11,515 $ 1,172 Revision (2,503 ) (1,771 ) - As revised $ 25,710 $ 9,744 $ 1,172 Stock-based compensation Prior to revision $ 26,499 $ 21,801 $ 2,005 Revision (26,499 ) (21,801 ) (2,005 ) As revised $ - $ - $ - General and administrative Prior to revision $ 14,392 $ 7,995 $ 2,020 Revision 9,117 11,011 121 Other Reclassifications (677 ) - - As revised $ 22,832 $ 19,006 $ 2,141 Salaries and related benefits Prior to revision $ 16,677 $ 8,806 $ 687 Revision 14,879 9,019 1,884 Other Reclassifications 657 - - As revised $ 32,203 $ 17,825 $ 2,571 Total operating expenses Prior to revision $ 67,225 $ 40,977 $ 5,922 Revision (2,503 ) (1,771 ) - Other Reclassifications (20 ) - - As revised $ 64,702 $ 39,206 $ 5,922 Three Months Ended March 31, 2022 June 30, 2022 September 30, 2022 December 31, 2022 (amounts, in thousands) Cost of sales Prior to revision $ 156,812 $ 173,760 $ 178,951 $ 160,097 Revision 804 704 506 489 Other Reclassifications - 303 303 (606 ) As revised $ 157,616 $ 174,767 $ 179,760 $ 159,980 Gross Profit Prior to revision $ 6,166 $ 7,281 $ 6,906 $ 7,860 Revision (804 ) (704 ) (506 ) (489 ) Other Reclassifications - (303 ) (303 ) 606 As revised $ 5,362 $ 6,274 $ 6,097 $ 7,977 Stock-based compensation Prior to revision $ 7,424 $ 7,223 $ 5,867 $ 5,985 Revision (7,424 ) (7,223 ) (5,867 ) (5,985 ) As revised $ - $ - $ - $ - General and administrative Prior to revision $ 2,742 $ 3,908 $ 3,516 $ 4,266 Revision 2,865 2,704 1,775 1,773 Other Reclassifications - (160 ) (150 ) (367 ) As revised $ 5,607 $ 6,452 $ 5,141 $ 5,632 Salaries and related benefits Prior to revision $ 4,193 $ 4,127 $ 4,417 $ 3,930 Revision 3,755 3,815 3,586 3,723 Other Reclassifications - (143 ) (153 ) 953 As revised $ 7,948 $ 7,799 $ 7,850 $ 8,607 Total operating expenses Prior to revision $ 15,632 $ 16,906 $ 14,596 $ 20,091 Revision (804 ) (704 ) (506 ) (489 ) Other Reclassifications - (303 ) (303 ) 586 As revised $ 14,828 $ 16,202 $ 14,090 $ 19,582 Three Months Ended March 31, 2023 (amounts, in thousands) Cost of sales Prior to revision $ 186,828 Revision 432 As revised $ 187,260 Gross Profit Prior to revision $ 6,721 Revision (432 ) As revised $ 6,289 Stock-based compensation Prior to revision $ 5,902 Revision (5,902 ) As revised $ - General and administrative Prior to revision $ 3,345 Revision 1,760 As revised $ 5,105 Salaries and related benefits Prior to revision $ 5,418 Revision 3,710 As revised $ 9,128 Total operating expenses Prior to revision $ 16,341 Revision (432 ) As revised $ 15,909

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2023
Fair value measurements
Fair value measurements	Note 3. Fair value measurements Recurring Fair Value Measurements The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis: June 30, 2023 (in thousands) Level 1 Level 2 Level 3 Measured at Net Asset Value as a Practical Expedient Total Assets: Marketable securities (Note 5) $ 9,919 $ - $ - $ 1,678 $ 11,597 Liabilities: Derivative liabilities (Note 9) $ - $ 59 $ - $ - $ 59 The market value of the equity securities is determined using quoted prices in active markets. The market value of underlying investments in funds is determined using the net asset value (“NAV”) provided by the administrator of the fund as a practical expedient. The NAV is determined by the fund’s trustee based upon the fair value of the underlying assets owned by the fund, less liabilities, divided by outstanding units. In accordance with appropriate accounting guidance, these investments have not been classified in the fair value hierarchy. This class includes investments in a closed end interval fund that invests in publicly traded equity securities of U.S. and foreign companies. There are no unfunded commitments related to this investment. Investment redemptions are limited to 25% of the fund’s outstanding shares but may be redeemed on a quarterly basis with 15 days’ notice. The Company had a contingent consideration liability of $3.5 million as of December 31, 2022, related to the Company’s acquisition of EV Group Holdings LLC, and its settlement occurred in the first quarter of 2023. The contingency was based on the Company's average share price for the month ending December 31, 2022. As a result of the settlement of this contingent consideration liability, the Company issued 1,530,145 additional shares of common stock to the sellers. The contingent consideration liability was reflected in accrued liabilities on the consolidated balance sheet, and the remeasurement was reflected in other income (expense), net on the consolidated statement of operations as of and for the period ended December 31, 2022. Nonrecurring Fair Value Measurements The Company also has investments in non-marketable securities, which are primarily equity securities in a non-public company that do not have readily determinable fair values. Such investments are initially recorded at cost and adjusted to fair value on a nonrecurring basis through earnings for observable price changes in orderly transactions for identical or similar transactions of the same company (Level 2 of U.S. GAAP fair value hierarchy). Historical adjustments have not been material. The carrying amount of these equity securities is $0.2 million as of June 30, 2023, and December 31, 2022, and is included in non-marketable securities on the consolidated balance sheet. There were no increases or decreases in the fair value of the non-marketable securities for the six months ended June 30, 2023, and 2022.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue
Revenue	Note 4. Revenue Contract Balances The following table provides information about receivables, contract assets and contract liabilities from contracts with customers. Accounts receivable in the table below exclude other receivables that are not generated from contracts with customers. These amounts are $0.1 million and $0.0 million as of June 30, 2023, and December 31, 2022, respectively. (in thousands) June 30, 2023 December 31, 2022 Receivables included in "Accounts receivable net of allowances" $ 73,998 $ 72,405 Contract assets 7,290 6,090 Contract liabilities - current 24,765 13,741 The Company has remaining performance obligations of $138.2 million at June 30, 2023. This figure is inclusive of the Company’s deferred revenue and its backlog. The Company only includes projects within its backlog reporting if there is a signed contract, purchase order or other legally binding agreement. There can be no assurance that the Company’s backlog will be earned as revenue in any particular period, if at all. Included within this figure is $24.8 million of deferred revenue that is classified within current liabilities on the consolidated balance sheets. The Company expects to earn the full amount of its deferred revenue within the next twelve months. The Company anticipates it will recognize approximately 46% of its remaining performance obligations within backlog as revenue in 2023, approximately 53% in 2024, and the remainder in 2025. Changes in Contract Balances The timing of revenue recognition, billings and cash collections results in accounts receivable, and customer advances and unearned revenue on the Company’s consolidated balance sheets. At times, the Company receives advance payments or deposits from its customers before revenue is recognized, resulting in contract liabilities. The contract liabilities primarily relate to the advance consideration received from customers on certain contracts. For these contracts, revenue is recognized in a manner that is consistent with the satisfaction of the underlying performance obligations. The contract liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each respective reporting period within the contract liabilities line item. Significant changes in the balance of contract liabilities during the period are as follows: (in thousands) Balance at December 31, 2022 $ 13,741 Revenue recognized during the period that was included in the beginning balance (12,084 ) Additions, net of revenue recognized during the period 23,108 Balance at June 30, 2023 $ 24,765 Disaggregation of Revenue The following table presents the Company’s revenues disaggregated by segment: Three Months Ended June 30, (in thousands) 2023 2022 Revenue: Infrastructure $ 29,954 $ 25,433 Telecommunications 117,632 155,608 Total $ 147,586 $ 181,041 Six Months Ended June 30, (in thousands) 2023 2022 Revenue: Infrastructure $ 57,451 $ 45,051 Telecommunications 283,684 298,968 Total $ 341,135 $ 344,019

Marketable securities and other

Marketable securities and other investments	6 Months Ended
	Jun. 30, 2023
Marketable securities and other investments
Marketable Securities And Other Investments	Note 5. Marketable securities and other investments The Company’s marketable securities are stated at fair value. Any changes in the fair value of the Company’s marketable securities are included within income (loss) from investments, net on the consolidated statement of operations. Realized and unrealized gains and losses are determined on an average cost basis. The marketable securities are investments predominantly in shares of large publicly traded companies which are being invested until such time as the funds are needed for operations. The fair value of these marketable securities is as follows: (in thousands) June 30, 2023 December 31, 2022 Brokerage Account $ 11,597 $ 6,757 During the three months ended June 30, 2023, the Company recognized net gains of $0.7 million on marketable securities and other investments, which included $0.1 million of realized losses and $0.8 million of unrealized gains on marketable securities. During the six months ended June 30, 2023, the Company recognized net gains of $1.0 million on marketable securities and other investments, which included $0.1 million of realized losses and $1.1 million of unrealized gains on marketable securities. During the three months ended June 30, 2022, the Company recognized net losses of $1.0 million on marketable securities and other investments, which included $0.6 million of realized losses and $0.4 million of unrealized losses on marketable securities. During the six months ended June 30, 2022, the Company recognized net losses of $1.1 million on marketable securities and other investments, which included $1.0 million of realized losses and $0.1 million of unrealized losses on marketable securities.

Goodwill and intangible assets

Goodwill and intangible assets	6 Months Ended
	Jun. 30, 2023
Goodwill and intangible assets
Goodwill and intangible assets	Note 6. Goodwill and intangible assets Goodwill and certain intangible assets are not amortized for book purposes. They may, however, be amortized for tax purposes. The Company accounts for its acquired customer relationships, backlogs, non-compete agreements, favorable leases and brand assets as indefinite-lived intangible assets and, similar to goodwill, these assets are reviewed at least annually for impairment. At the time of each review, if the fair value of a reporting unit or an asset is less than its respective carrying value, then a charge is recorded to the results of operations. The following table presents goodwill by reportable segment: (in thousands) Infrastructure Telecommunications Consolidated Total Goodwill, net, as of December 31, 2022 $ 11,900 $ 772 $ 12,672 Goodwill, net, as of June 30, 2023 $ 11,900 $ 772 $ 12,672 The Company’s goodwill is tested for impairment on an annual basis and more often if indications of impairment exist. The Company conducts its annual impairment analyses as of October 1 each year. There were no indicators of impairment during the three-month and six-month period ended June 30, 2023. The Company performs a review of its intangible assets for impairment when evidence exists that the carrying value of an asset may not be recoverable. There were no events or changes in circumstances which indicated the Company’s intangible assets may not be recoverable. Accordingly, no impairment assessments were conducted on its intangible assets during the three-month and six-month period ended June 30, 2023. The following table presents intangible assets: June 30, 2023 December 31, 2022 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 30,849 $ (3,517 ) $ 27,332 $ 30,849 $ (2,489 ) $ 28,360 Backlog 3,322 (1,661 ) 1,661 3,322 (1,107 ) 2,215 Non-compete agreements 3,729 (1,361 ) 2,368 3,729 (895 ) 2,834 Off-market favorable leases 955 (955 ) - 955 (955 ) - Brand 560 (56 ) 504 560 (37 ) 523 Total $ 39,415 $ (7,550 ) $ 31,865 $ 39,415 $ (5,483 ) $ 33,932

Related party transactions

Related party transactions	6 Months Ended
	Jun. 30, 2023
Related party transactions
Related party transactions	Note 7. Related party transactions In 2022, the Company entered into a special advisor agreement with KORR Acquisitions Group, Inc., a stockholder of the Company. The agreement included an upfront payment of $0.5 million and currently includes a monthly advisory fee of $25,000. Mr. Orr, the former Chairman of the Company, has sole voting and dispositive power over the shares held by KORR Acquisitions Group, Inc. and its affiliates.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Related party transactions
Debt	Note 8. Debt Debt was comprised of the following as of the periods indicated: (in thousands) June 30, 2023 December 31, 2022 Line of Credit ANS Line of Credit $ - $ 5,024 Total Line of Credit - 5,024 Notes Payable Issued on May 19, 2021 11,860 11,860 Issued on December 17, 2021 15,926 15,926 Total Face Value of Notes Payable 27,786 27,786 Less: Unamortized Discount (1,650 ) (3,630 ) Net Carrying Value of Notes Payable 26,136 24,156 Total debt before deferred financing costs 26,136 29,180 Current amount of Notes Payable 26,136 24,156 Current amount of Line of Credit - 5,024 Total current portion of long-term debt 26,136 29,180 Total long-term debt, net of current portion $ - $ - Convertible notes payable May 2020 Financing On May 8, 2020, the Company entered into a securities purchase agreement with certain institutional investors (collectively, the “May 2020 Investors”) pursuant to which the Company issued convertible notes in an aggregate principal amount of $3.0 million for an aggregate purchase price of $2.7 million (the “May 2020 Convertible Notes”). In connection with the issuance of the May 2020 Convertible Notes, the Company issued to the May 2020 Investors warrants to purchase an aggregate of 7,600,000 shares of common stock (collectively, the “Warrants”) and 7.5 shares of series G convertible preferred stock (the “Series G Preferred Stock”). The May 2020 Convertible Notes’ maturity date of May 8, 2021, was subsequently extended to May 8, 2023. The May 2020 Convertible Notes accrued interest at a rate of 8% per annum, subject to increase to 20% per annum upon and during the occurrence of an event of default. Interest was payable in cash on a quarterly basis beginning on December 31, 2020. November 2020 Financing On November 3, 2020, the Company entered into a securities purchase agreement with funds affiliated with Arena Investors LP (the “November 2020 Investors”) pursuant to which it issued convertible notes in an aggregate principal amount of $3.9 million for an aggregate purchase price of $3.5 million (the “November 2020 Convertible Notes”). In connection with the issuance of the November 2020 Convertible Notes, the Company issued to the November 2020 Investors 903,226 shares of common stock. The November 2020 Convertible Notes were convertible at any time, at the holder’s option, into shares of the Company’s common stock at a conversion price of $0.25 per share. The November 2020 Convertible Notes’ maturity was extended from November 3, 2023, to November 3, 2024. The November 2020 Convertible Notes accrued interest at a rate of 8% per annum. May 2021 Financing On May 19, 2021, the Company entered into a securities purchase agreement with funds affiliated with Arena Investors LP (the “May 2021 Investors”) pursuant to which it issued convertible notes in an aggregate principal amount of $5.6 million for an aggregate purchase price of $5.0 million (collectively, the “May 2021 Convertible Notes” and together with the May 2020 Convertible Notes and the November 2020 Convertible Notes, the “Convertible Notes”). In connection with the issuance of the May 2021 Convertible Notes, the Company issued to the May 2021 Investors warrants to acquire 1,870,000 shares of common stock. The May 2021 Convertible Notes were convertible at any time, at the holder’s option, into shares of the Company’s common stock at a conversion price of $3.00 per share. The May 2021 Convertible Notes were due to mature on May 19, 2024. The May 2021 Convertible Notes accrued interest at a rate of 8% per annum. Conversion of Convertible Notes to Preferred Stock In the second quarter of 2022, the Convertible Notes were exchanged for 1,177,023 shares of Series D preferred stock (“Series D Preferred Stock”). As a result of this exchange, the Company has no Convertible Notes Payable outstanding at June 30, 2023, and December 31, 2022. Refer to Note 12, Stockholders’ equity, for additional information. April 30, 2020, Sutton Global Note On April 30, 2020, a former CEO converted his payable into a convertible note with a face value of $0.3 million (the “April 2020 Convertible Note”). The April 2020 Convertible Note had a coupon rate of 6% and a maturity date of December 31, 2021. The April 2020 Convertible note was convertible at a rate of $.0005 per share. Since the April 2020 Convertible Note added a conversion option, it resulted in a debt modification requiring the Company to record a loss on modification of debt in the amount of $0.1 million. On March 25, 2021, Sutton Global Associates converted $0.2 million in principal plus accrued interest into 644,499 shares of the Company common stock. The remaining balance of the April 2020 Convertible note was subsequently sold to an unrelated party and converted into 319,950 shares of the Company common stock. The Company has accounted for all Convertible Notes payable as a financing transaction, wherein the net proceeds that were received were allocated to the financial instrument issued. Prior to making the accounting allocation, the Company evaluated the Convertible Notes under ASC 815, which generally requires the analysis of embedded terms and features that have characteristics of derivatives to be evaluated for bifurcation and separate accounting in instances where their economic risks and characteristics are not clearly and closely related to the risks of the host contract. None of the terms and features embedded in the notes required bifurcation and liability classification. The Company analyzed the detachable warrants under ASC 480 and ASC 815. The warrants did not fall under the guidance of ASC 480. After analyzing the warrants under ASC 815, it was determined that the warrants met all of the requirements for equity classification under guidance of ASC 815-40-25-1 through 6. Line of credit Nextridge Inc. (“Nextridge”) and its operating subsidiary Advance Network Services, LLC. (“ANS”) have a revolving $8.0 million line of credit (the “ANS Line of Credit”) available with a bank, collateralized by all the assets of Nextridge and ANS. Interest is payable monthly at the Wall Street Journal prime rate (8.25% and 7.50% at June 30, 2023, and December 31, 2022, respectively). As of June 30, 2023, and December 31, 2022, the Company had outstanding balances of $0 and $5.0 million, respectively, on this ANS Line of Credit. On October 25, 2022, Nextridge and ANS renewed the line of credit increasing the availability from $4.0 million to $8.0 million. Borrowings under the line of credit will bear interest at a floating rate at the Wall Street Journal prime rate with a floor of 5%. Advances under the line of credit are limited to 70% and 50% of Nextridge and ANS’ eligible accounts receivable and work in progress, respectively. At each fiscal year end, Nextridge and ANS must maintain a minimum debt service coverage ratio of 1.2:1 and maximum debt/tangible net worth ratio of 3:1. The outstanding balance on the line of credit is payable upon demand by the bank. In addition to the security interest in the assets of Nextridge and ANS, the line of credit is guaranteed by the Company and Charge Infrastructure Holdings, Inc., the parent of Nextridge and ANS and a subsidiary of the Company. At December 31, 2022, the Company was in compliance with the aforementioned covenants. On November 18, 2022, Nextridge and ANS renewed a $750,000 equipment and vehicle line of credit available with a bank. Interest is payable monthly at the Wall Street Journal prime rate. On December 1, 2023, the line will convert to a term loan with the then five-year Federal Home Loan Bank rate + 2.5% and have a five-year term with a five-year amortization. There are no financial commitments or covenants on the line of credit. As of June 30, 2023, and December 31, 2022, the Company had an outstanding balance of $0 on this line of credit. B W Electrical Services, LLC. (“BW”) had a revolving $3.0 million line of credit (the “BW Line of Credit”) available with a bank, collateralized by all the assets of BW. Interest was payable monthly at the Wall Street Journal prime rate (8.25% and 7.50% at June 30, 2023, and December 31, 2022, respectively) The BW Line of Credit expired August 1, 2023 and management is evaluating possible renewal. Advances under the line of credit were limited to 75% of BW’s eligible accounts receivable. At all times during the loan term BW was required to maintain a minimum increase in the net retained earnings of $0.2 million tested annually and maintain a maximum seller funded debt to EBIDA of 2.0x tested semi-annually on a trailing twelve-month basis beginning with the period ended June 30, 2022. In addition to the security interest in the assets of BW, the line of credit was guaranteed by the Company and Charge Infrastructure Holdings, Inc., the parent of BW and a subsidiary of the Company. As of June 30, 2023, and December 31, 2022, the Company had no outstanding balance on the BW Line of Credit. At June 30, 2023, and December 31, 2022, the Company was in compliance with the aforementioned covenants. Notes payable On May 19, 2021, the Company entered into a securities purchase agreement with funds affiliated with Arena Investors LP (the “May 2021 Investors”) pursuant to which it issued notes payable in an aggregate face value (includes 7.5% premium and 10% original issue discount) of $11.8 million for an aggregate purchase price of $10.0 million (the “May 2021 Notes”). The May 2021 Notes have a coupon of 8% and an 18-month term. The May 2021 Notes’ original maturity date of November 19, 2022, was extended to November 19, 2023. On December 17, 2021, the Company entered into a securities purchase agreement with funds affiliated with Arena Investors LP (the “December 2021 Investors”) pursuant to which it issued a note payable in an aggregated face value of $15.9 million for an aggregate purchase price of $13.3 million (collectively, the “December 2021 Notes” and together with the May 2021 Notes, the “Notes”). The December 2021 Notes have a coupon of 7.5% and a 23-month term. The December 2021 Notes mature on November 19, 2023. The securities purchase agreements entered into in May 2021 and December 2021 include certain negative covenants, including restrictions on future variable rate transactions and limitations on the Company’s ability to incur indebtedness other than Permitted Indebtedness (as defined in the respective agreements) while liabilities to the investors remain outstanding. The securities purchase agreement entered into in December 2021 Notes also contain a most-favored nations provision, such that, if the Company subsequently issues securities having more favorable terms (“Other Securities”), the purchasers may exchange their securities for Other Securities. Interest Expense The components of interest expense are as follows: Three Months Ended June 30, (in thousands) 2023 2022 Interest expense $ (498 ) $ (746 ) Amortization of debt discount (990 ) (6,414 ) Total net interest expense $ (1,488 ) $ (7,160 ) Six Months Ended June 30, (in thousands) 2023 2022 Interest expense $ (1,046 ) $ (1,480 ) Amortization of debt discount (1,980 ) (7,444 ) Total net interest expense $ (3,026 ) $ (8,924 )

Derivative liabilities

Derivative liabilities	6 Months Ended
	Jun. 30, 2023
Derivative liabilities
Derivative Liabilities	Note 9. Derivative liabilities The Company does not use financial derivative instruments to manage risk. In June 2022, the Company exchanged the outstanding convertible debt for Series D preferred stock (“Series D Preferred Stock”). Concurrently, the warrants that were granted along with the original convertible debt were amended to provide, at the holders’ choice, the option to exercise for a to-be-issued class of preferred stock, which are convertible into the same number of shares of common stock as would have been issued upon exercise of such warrants under the original terms. This amendment caused the instruments to be treated as a derivative liability beginning on June 30, 2022. The warrants were reclassified from equity to a derivative liability and measured at fair value using a Black Scholes model (Level 2 of U.S. GAAP fair value hierarchy), which included inputs for exercise price, stock price, term to expiration, volatility, and interest rate. The impact was a derivative liability of approximately $40.4 million and a deemed dividend of approximately $32.8 million. This derivative liability is revalued on a recurring basis with changes in the fair value of the derivative recorded through the consolidated statement of operations. In the first quarter of 2023, the Arena Investors (defined below) exercised 7.6 million warrants issued in May 2020 (the “May 2020 Warrants”) into: (i) 4,400,000 shares of common stock; and (ii) 3,200,000 shares of Series E preferred stock (“Series E preferred stock”) . The following tables summarize the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing reflected on the change in fair value of derivative liabilities line on the consolidated statement of operations: Three Months Ended June 30, (in thousands) 2023 2022 Derivative liability beginning balance $ 339 $ - Change in fair value of derivative liabilities (280 ) - Warrant exercise - - Derivative liability ending balance $ 59 $ - Six Months Ended June 30, (in thousands) 2023 2022 Derivative liability beginning balance $ 6,521 $ - Change in fair value of derivative liabilities (1,656 ) - Warrant exercise (4,806 ) - Derivative liability ending balance $ 59 $ -

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases
Leases	Note 10. Leases Lease Revenue The Company leases commercial properties under agreements that are classified as operating leases. The Company’s commercial property leases generally include minimum rents and do not include recoveries for property taxes and common area maintenance. The Company’s rental revenues are earned from its operating subsidiary EVDepot, LLC (“EV Depot”) operations and are a component of Infrastructure revenues disclosed in Note 4, Revenue. The following table summarizes the fixed components of rental revenue for the six and three months ended June 30, 2023, and 2022: Three Months Ended June 30, (in thousands) 2023 2022 Revenue: Fixed component $ 843 $ 1,264 Variable component - - Total $ 843 $ 1,264 Six Months Ended June 30, (in thousands) 2023 2022 Revenue: Fixed component $ 1,733 $ 2,411 Variable component - - Total $ 1,733 $ 2,411

Reportable segments

Reportable segments	6 Months Ended
	Jun. 30, 2023
Reportable segments
Reportable Segments	Note 11. Reportable segments The Company has two reportable operating segments - Infrastructure, and Telecommunications. The Company also has a Non-operating Corporate segment. All inter-segment revenues are eliminated. Refer to Note 4, Revenue, for additional information on the Company’s revenue by segment. Summary information with respect to the Company’s income (loss) from operations is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 (As Adjusted) 2023 2022 (As Adjusted) Income (loss) from operations: Infrastructure $ (678 ) $ (1,635 ) $ (2,865 ) $ (3,142 ) Telecommunications 3 241 (137 ) 625 Non-operating corporate (7,804 ) (8,534 ) (15,097 ) (16,877 ) Total $ (8,479 ) $ (9,928 ) $ (18,099 ) $ (19,394 ) A reconciliation of the Company’s consolidated segment loss from operations to consolidated loss from operations before income taxes and net loss is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 (As Adjusted) 2023 2022 (As Adjusted) Loss from operations $ (8,479 ) $ (9,928 ) $ (18,099 ) $ (19,394 ) Income (loss) from investments, net 666 (973 ) 962 (1,143 ) Change in fair value of derivative liabilities 280 - 1,656 - Interest expense (1,488 ) (7,160 ) (3,026 ) (8,924 ) Loss on impairment (58 ) - (58 ) - Other income (expense), net 637 776 1,028 1,034 Foreign exchange adjustments (162 ) 170 (169 ) (87 ) Total other expenses (125 ) (7,187 ) 393 (9,120 ) Loss from operations before income taxes (8,604 ) (17,115 ) (17,706 ) (28,514 ) Income tax (expense) benefit (242 ) (45 ) (352 ) 1,328 Net loss $ (8,846 ) $ (17,160 ) $ (18,058 ) $ (27,186 ) Summary information with respect to the Company’s operating segments is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Depreciation and amortization: Infrastructure $ 1,183 $ 1,062 $ 2,373 $ 1,227 Telecommunications 9 41 29 85 Total $ 1,192 $ 1,103 $ 2,402 $ 1,312 Six Months Ended June 30, (in thousands) 2023 2022 Capital expenditures: Infrastructure $ 102 $ 70 Telecommunications - - Total $ 102 $ 70 (in thousands) June 30, 2023 December 31, 2022 Investments: Infrastructure $ 1,685 $ 1,389 Telecommunications - - Non-operating corporate 10,148 5,604 Total $ 11,833 $ 6,993 (in thousands) June 30, 2023 December 31, 2022 (As Adjusted) Assets: Infrastructure $ 104,480 $ 102,248 Telecommunications 67,105 42,046 Non-operating corporate 24,279 24,160 Total $ 195,864 $ 168,454

Stockholders equity

Stockholders equity	6 Months Ended
	Jun. 30, 2023
Stockholders equity
Stockholders equity	Note 12. Stockholders’ equity The Company has evaluated each series of preferred stock for proper classification under ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging The Company has 20,000,000 shares of preferred stock authorized with a par value of $0.0001. Permanent Equity Preferred Stock Series D: The Series D preferred stock has the following designations: · Convertible at the option of the holder into common stock at $0.4248 per share · The Series D liquidation preference is equal to $10.6191 per share · The holders are entitled to receive cumulative quarterly dividends at a fixed annual rate of 2.25% of the liquidation preference, or $0.23893 per share · No voting rights In addition to the exchange of the Convertible Notes, the related 11.8 million outstanding warrants to purchase common stock were amended to allow the holder to exercise for a to-be-issued class of the Company’s preferred stock, convertible into the same number of shares of common stock as would have been issued upon exercise of such warrants under the original terms. This amendment caused the instruments to be treated as a derivative liability beginning on June 30, 2022. The transition to derivative accounting created a derivative liability of $40.4 million and a related deemed dividend of $32.8 million. Changes in the fair value of the derivative liability are marked to market through the consolidated statement of operations in the respective period. Series E The Series E preferred stock has the following designations: · Convertible at the option of the holder at $0.50 per share of common stock · The liquidation preference is senior in liquidation rights to holders of common stock. · No dividends · No voting rights Common Stock On April 20, 2022, the Company entered into a securities purchase agreement with an affiliate of Island Capital Group, LLC pursuant to which the Company issued 1,428,575 shares of Charge’s common stock and three-year warrants to purchase up to 2,000,000 shares of Charge’s common stock at $8.50 per share for an aggregate purchase price of $10.0 million. The purchase price was allocated between common stock and warrants and is reported within common stock and additional paid-in capital on the consolidated balance sheet. Pursuant to the purchase agreement, until February 2025, the purchaser has the right to participate, up to 25% in any issuance by the Company of indebtedness, common stock or common stock equivalents for cash other than exempt issuances, as defined in the agreement. On December 8, 2020, the Company entered into a Private Placement Agreement for the purchase of up to an aggregate $2.5 million of Charge’s common stock at $0.25 per share. In connection with this agreement, the Company issued 8,700,000 shares for an aggregate purchase price of $2.2 million. The shares were issued on January 15, 2021. Mezzanine Equity Preferred Stock Series C: On February 25, 2022, the Company entered into a securities purchase agreement with an affiliate of Island Capital Group LLC pursuant to which it issued 3,856,000 Series C preferred stock at an aggregate face value of $12.1 million for an aggregate purchase price of $10.8 million. The Company has valued and recorded the beneficial conversion feature of the Series C preferred stock resulting in a deemed dividend at the time of issuance. As of June 30, 2023, and December 31, 2022, there were 6,226,370 shares of Series C preferred stock issued and outstanding. The Series C preferred stock has the following designations: · Convertible at the option of the holder at a conversion price of $3.125 per share · The holders are entitled to receive cumulative dividends at 6% per annum, payable monthly · In the event of reorganization, this class of preferred will not be affected by any such capital reorganization · The Series C liquidation preference is equal to the stated value, plus any accrued and unpaid dividends · Change of control provision whereby the Series C preferred shareholders would receive their stated value before all other shareholders · No voting rights · Redemption features: o If the closing price exceeds 200% of the effective conversion price, the Company may force the conversion of preferred stock with 10 days written notice; o At any time after the original issue date, the Company has the option to redeem some or all the outstanding preferred stock for cash within 10 days written notice; and o On the third anniversary of the issue date, the holder may request redemption, at the Company’s option of cash or common stock, at the conversion price equal to the four-year redemption amount (a) 100% of the aggregate stated value then outstanding, (b) accrued but unpaid dividend, (c) additional cash consideration in order for the Purchasers to achieve a 20% internal rate of return, and (d) all liquidated damages and other amounts due in respect of the preferred stock. The Series C preferred stock provides that the Company shall redeem the preferred stock for cash or common stock at the Company’s option and, therefore, is not considered mandatorily redeemable. However, due to the change in control provision, the Series C preferred stock has liquidation preference and is deemed a liability and presented within mezzanine equity on the consolidated balance sheet as of June 30, 2023, and December 31, 2022. Warrants Warrant activity is summarized as follows: (in thousands except exercise price and contractual life) Number of Weighted Average Weighted Average Remaining Warrants Exercise Price Contractual Life Warrants outstanding at January 1, 2022 24,085 $ 1.74 3.0 years Issued 2,000 8.50 2.8 years Exercised (8,183 ) (1.59 ) N/A Expired - - N/A Warrants outstanding at December 31, 2022 17,902 $ 2.56 1.8 years Warrants exercisable at December 31, 2022 17,902 $ 2.56 1.8 years Issued - - Exercised (7,600 ) 0.50 N/A Expired - - N/A Warrants outstanding at June 30, 2023 10,302 $ 4.08 Warrants exercisable at June 30, 2023 10,302 $ 4.08 2.4 years

Stock-based compensation

Stock-based compensation	6 Months Ended
	Jun. 30, 2023
Stock-based compensation
Stock-based compensation	Note 13. Stock-based compensation 2020 Omnibus Equity Incentive Plan On January 11, 2021, the Company’s Board of Directors and a majority of its stockholders adopted the 2020 Omnibus Equity Incentive Plan (the “2020 Plan”), as amended and restated as of May 7, 2021, and on December 23, 2021, with 75.0 million shares available for issuance. Under the 2020 Plan, the Company may grant stock options, restricted stock, dividend equivalents, restricted stock units, stock appreciation rights, and other stock or cash-based awards to individuals who are employees, officers, non-employee directors or consultants of the Company. The vesting periods range from one to four years. As of June 30, 2023, approximately 32.7 million shares remain available for issuance under the 2020 Plan. Non-Qualified Stock Option Agreement On November 1, 2020, Transworld Holdings, Inc. granted 10.5 million in non-qualified stock options to the spouse of a key executive and current member of the Company’s Board of Directors for service in facilitating and completing the acquisition of PTGi International Carrier Services, Inc. (“PTGi”). The stock options have an exercise price of $0.55, vest over a period of three years from the grant date and have a contractual term of 10 years. The grant date fair value of these stock options using the Black Scholes Model ("BSM") valuation was $0.51 per share. These non-qualified stock options are separate from the 2020 Plan. Stock options Stock option activity is summarized as follows: Weighted Average Weighted Average Remaining (in thousands except exercise price and contractual term) Shares Exercise Price Intrinsic Value Contractual Term Options outstanding at December 31, 2022 49,576 $ 2.07 - - Options granted 5,430 1.09 - - Options exercised (75 ) 0.55 - - Options cancelled (3,449 ) 2.70 - - Options outstanding at June 30, 2023 51,482 $ 1.93 $ 9,223 4.36 years Options exercisable at June 30, 2023 30,402 $ 1.74 $ 6,834 3.48 years Vested and expected to vest at June 30, 2023 51,482 $ 1.93 $ 9,223 4.36 years The weighted-average grant date fair value of all options granted during the three and six months ended June 30, 2023, was $0.59 and $0.66, respectively. The total intrinsic value of stock options exercised during the three and six months ended June 30, 2023, was $0.0 million and $0.1 million, respectively. The total intrinsic value of stock options exercised during the three and six months ended June 30, 2022, was $0.1 million. At June 30, 2023, there was $27.7 million of unrecognized stock-based compensation cost related to unvested stock options that is expected to be recognized over a weighted-average period of 1.7 years. The Company uses the following assumptions in its BSM valuation for stock options granted: Three Months Ended June 30, 2023 Weighted risk-free interest rate 1 3.2 % Weighted-average volatility 2 58 % Weighted expected dividend yield 3 - % Weighted expected term (in years) 4 5.5 1. Risk-free interest rate - Determined based on the U.S. Treasury yield in effect at the time of the grant for zero-coupon U.S. Treasury notes with remaining terms similar to the expected term of the options. 2. Expected volatility - Determined based on a blend of the Company’s historic stock price volatility and the historic volatility of a peer group of publicly traded companies. 3. Expected dividend yield - Determined to be zero as the Company has not and does not currently plan to issue dividends. 4. Expected term - Determined using the “simplified method” for estimating the expected option life, which is the midpoint of the weighted-average vesting period and contractual term of the option. Restricted stock units Restricted stock unit (“RSU”) activity is summarized as follows: Weighted Average (in thousands except exercise price and contractual term) Shares Grant Date Fair Value RSUs outstanding at December 31, 2022 405 $ 2.26 RSUs granted 40 0.92 RSUs released - - RSUs forfeited (100 ) 2.22 RSUs outstanding at June 30, 2023 345 $ 2.11 Weighted average remaining recognition period in years 3.2 Unamortized stock-based compensation expense $ 587 Recognized Non-Cash Stock-Based Compensation Expense The following tables present the Company’s total non-cash stock-based compensation expense, which is related primarily to options, in the consolidated statements of operations for the three and six months ended June 30, 2023: Three Months Ended June 30, (in thousands) 2023 2022 (As Adjusted) Cost of sales $ 301 $ 704 General and administrative 1,350 2,704 Salaries and related benefits 3,313 3,815 Total stock-based compensation 4,964 7,223 Income tax benefit (1) 96 19 After-tax stock-based compensation expense $ 4,868 $ 7,204 Six Months Ended June 30, (in thousands) 2023 2022 (As Adjusted) Cost of sales $ 733 $ 1,508 General and administrative 3,110 5,569 Salaries and related benefits 7,023 7,570 Total stock-based compensation 10,866 14,647 Income tax benefit (1) 157 683 After-tax stock-based compensation expense $ 10,709 $ 13,964 (1) Amounts exclude impact from any stock-based compensation expense subject to Section 162(m) of the Internal Revenue Code, which is nondeductible for income tax purposes.

Commitments contingencies and c

Commitments contingencies and concentration risk	6 Months Ended
	Jun. 30, 2023
Commitments, contingencies and concentration risk
Commitments, Contingencies And Concentration Risk	Note 14. Commitments, contingencies and concentration risk Contingencies During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with ASC 450, Contingencies Other Commitments Indemnities The Company generally indemnifies its customers for the services it provides under its contracts, as well as other specified liabilities, which may subject the Company to indemnity claims, liabilities and related litigation. As of June 30, 2023, and December 31, 2022, the Company was not aware of any material asserted or unasserted claims in connection with these indemnity obligations. Performance and Payment Bonds Many customers, particularly in connection with new construction within Infrastructure, require the Company to post performance and payment bonds issued by a financial institution known as a surety. If the Company fails to perform under the terms of a contract or to pay subcontractors and vendors who provided goods or services under a contract, the customer may demand that the surety make payments or provide services under the bond. The Company must reimburse the surety for any expenses or outlays it incurs. To date, the Company is not aware of any losses to their sureties in connection with bonds the sureties have posted on their behalf, and do not expect such losses to be incurred in the foreseeable future. Generally, 10% of bonding needs are held in cash on the balance sheet. Concentration of Credit Risk The Company maintains accounts with financial institutions. All cash in checking accounts is fully insured by the FDIC up to a $250,000 limit. At times, cash balances may exceed the maximum coverage provided by the FDIC on insured depositor accounts. The Company believes it mitigates its risk by depositing its cash and cash equivalents with major financial institutions. Major Customer Concentration There was one customer whose individual accounts receivable represented 10% or more of the Company’s total balance as of June 30, 2023. The Company had three customers whose accounts receivable individually represented 10% or more of the Company’s total balance as of December 31, 2022. In aggregate these customers accounted for approximately 46% of the Company’s total accounts receivable as of December 31, 2022. The Company has two customers whose revenue individually represented 10% or more of the Company’s total revenue and whose revenue accounted for approximately 24% of the Company’s total revenue for the three months ended June 30, 2023. The Company has one customer whose revenue represented 10% or more of the Company’s total revenue, which accounted for 15% of the Company’s total revenue for the six months ended June 30, 2023. The Company had two customers whose revenue individually represented 10% or more of the Company’s total revenue and in aggregate accounted for approximately 32% and 27% of the Company’s total revenue for the three and six months ended June 30, 2022, respectively. Labor Concentration One of our operating subsidiaries within Infrastructure sources direct labor from local unions, which have collective bargaining agreements expiring at various times over the next four years. Although the Company’s past experience has been favorable with respect to resolving conflicting demands with these unions, it is possible that contract negotiations are unsuccessful which could impact the renewal of the collective bargaining agreements and availability of personnel.

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2023
Income taxes
Income Taxes	Note 15. Income taxes The following table includes the Company’s income (loss) before income tax provision benefit (expense), income tax provision (benefit) and effective benefit tax rate for the periods indicated: Three Months Ended June 30, 2023 2022 (As Adjusted) Income (loss) before income taxes $ (8,604 ) $ (17,115 ) Income tax benefit (expense) (242 ) (45 ) Effective tax rate (2.8%) (0.3%) Six Months Ended June 30, 2023 2022 (As Adjusted) Income (loss) before income taxes $ (17,706 ) $ (28,514 ) Income tax benefit (expense) (352 ) 1,328 Effective tax rate (2.0%) 4.7 % For the three and six months ended June 30, 2023, and 2022, the Company utilized the discrete effective tax rate method. This discrete method treats the year-to-date period as if it was the annual period and calculates the income tax expense or benefit on a discrete basis. Currently, the Company believes the use of the discrete method represents the best estimate of its annual effective tax rate. The Company’s effective tax rate differed from the statutory rate primarily due to the valuation allowance on deferred tax assets, as well as the Company’s permanent book-tax differences from stock-based compensation.

Net income (loss) per share

Net income (loss) per share	6 Months Ended
	Jun. 30, 2023
Net income (loss) per share
Net income (loss) per share	Note 16. Net income (loss) per share Basic income (loss) per share available to common stockholders is calculated using the weighted average number of common shares outstanding during the applicable period. Diluted net income (loss) per share available to common stockholders is calculated using the weighted average number of common shares outstanding plus the number of dilutive potential common shares outstanding during the applicable period. Dilutive potential common shares consist of the incremental common shares (i) issuable upon the vesting of outstanding restricted stock units and the exercise of outstanding stock options using the treasury stock method, (ii) contingently issuable assuming that the end of the reporting period is the end of the contingency period, and (iii) issuable for non-participating preferred stock using the if-converted method. Our warrants and some of our preferred stock are considered participating securities pursuant to the two-class method. Dilutive potential common shares are excluded from the calculation of diluted net income (loss) per share available to common stockholders if their effect is antidilutive. The following potential common shares were excluded from the calculation of diluted net income (loss) per share available to common stockholders because their effect would have been antidilutive: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Restricted stock units 375 127 390 184 Contingently issuable shares - - 744 - Warrants 10,303 24,231 13,956 24,108 Stock options 52,212 49,868 51,336 48,221 Preferred stock 23,157 21,613 21,655 18,051 Convertible notes payable - 49,996 - 50,245 Total 86,047 145,835 88,081 140,809

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events
Subsequent Events	Note 17. Subsequent Events Events occurring after June 30, 2023, and through the date that these consolidated financial statements were issued, were evaluated to ensure that any subsequent events that met the criteria for recognition have been included and are as follows: On August 1, 2023 , . . On August 11, 2023, the Company entered into a Securities Purchase Agreement with KORR Value, L.P. (the “August 2023 SPA”), pursuant to which, beginning on October 15, 2023 and through March 31, 2024, the Company has the right, but not the obligation, to sell, and to require the purchaser to purchase, up to $5.0 million of Common Stock, at a purchase price of $1.00 per share. The Company will be obligated to issue warrants to purchase 1,000,000 shares of Common Stock on the date we first elect to require the purchaser to purchase shares pursuant to the August 2023 SPA. Such warrants have a two-year term and an exercise price of $1.50 per share. Kenneth Orr, a beneficial owner of more than 5% of the Company’s Common Stock and the former Chairman of the Company, has sole voting and dispositive power over the shares held by KORR Value, L.P.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2023
Summary of significant accounting policies
Basis Of Presentation	The interim unaudited consolidated financial statements included herein have been prepared by the Company in accordance with: (i) generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information; and (ii) the instructions of the Securities and Exchange Commission (the “SEC”) for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, the consolidated financial statements reflect all adjustments considered necessary for a fair statement of the results of operations and financial position for the interim periods presented. All such adjustments are of a normal and recurring nature. The Company’s results shown on an interim basis are not necessarily indicative of results for a full year. This Form 10-Q should be read in conjunction with the current report on Form 8-K filed with the SEC on May 10, 2023 (the “May 10, 2023 Form 8-K”) and the consolidated financial statements and related notes included in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2022, and filed with the SEC on March 15, 2023, as part of the Company’s Annual Report on Form 10-K (the "2022 Annual Report"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. There have been no material changes from Note 2, Summary of significant accounting policies, as described in the notes to the Company’s consolidated financial statements contained in the May 10, 2023 Form 8-K and the 2022 Annual Report, other than as noted below. The Company is an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and the Company has and intends to continue to take advantage of certain exemptions from various reporting requirements.
Principles Of Consolidation	The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements and related disclosures, presented in U.S. dollars, have been prepared in accordance with U.S. GAAP and pursuant to the rules and regulations of the SEC. The results and trends in these consolidated financial statements may not be representative for any future periods or the full year.
Revenue	Nature of Services Infrastructure The Company’s Infrastructure segment revenues are derived from: (i) broadband and wireless; (ii) electrical contracting services; (iii) electric vehicle charging infrastructure; and (iv) fleet services. Broadband and wireless, electrical contracting, and electric vehicle charging infrastructure primarily involve design, engineering and construction services. Types of services typically include providing: (i) end-to-end network design and implementation services for telecommunication and wireless carriers, cable companies and enterprise organizations; (ii) cell tower construction and modification services for national and regional wireless service providers, tower owners, and federal, state, and local government agencies; (iii) cellular distributed antenna systems (“DAS”) and bi-directional antenna (“BDA”) public safety systems from initial Radio Frequency (“RF”) site assessment, through design, engineering, implementation, and testing; (iv) DAS maintenance and monitoring service, including an in-house 24 hour network operations center, utilizing Software-as-a-Service cloud-based software and customized maintenance program; (v) scalable and energy-efficient mission critical power systems to meet the demand of data equipment deployment for mission critical data centers; (vi) electrical and telecommunications construction and facilities services to commercial, industrial, and institutional facilities; and (vii) end-to-end solutions for safe, reliable, flexible and scalable charging ecosystems. Projects can be performed under individual contracts or a statement of work under a master service agreement, which are generally multi-year agreements. The typical length of projects can vary and depends on size and complexity: broadband and wireless – two to three months; electrical contracting services – six months to three years; electric vehicle charging infrastructure – three to twelve months. The types of services for fleet services primarily involve leasing and maintenance of real property to commercial and fleet operator customers in return for payment. Lease agreements include fixed payments and vary in length from 12 months to 3 years. Telecommunications The Company’s Telecommunications segment revenues are derived from operating a global telecommunication network consisting of domestic switching and related peripheral equipment, carrier-grade routers, and switches for internet and circuit-based services. Types of services typically include providing: (i) routing of voice, data, and Short Message Services (“SMS”) to Carriers and Mobile Network Operators (“MNO”) globally; and (ii) customers with internet-protocol-based and time-division multiplexing (“TDM”) access for the transport of long-distance voice and data minutes. The Company’s Telecommunications segment operates an extensive network of direct routes and offers premium voice communication services for carrying a mix of business, residential and carrier long-distance traffic, data and transit traffic. Telecommunications has both a customer and vendor relationship with most parties. Telecommunications provides the customer routing services through the Telecommunications supplier routes on incoming calls and then Telecommunications purchases routing services from other vendor’s supplier routes in order to complete the call. Revenue Recognition Revenue is recognized when a customer obtains control of promised services. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those services. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised services in the contract; (ii) determination of whether the promised services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company’s primary revenue stream is from services. The Company recognizes as revenues the amount of the transaction price for the performance obligation when the performance obligation is satisfied or as it is satisfied. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer, in an amount that reflects the consideration it expects to be entitled to in exchange for those products or services. The Company evaluates when it is appropriate to recognize revenues based on the gross amount invoiced to the customer or the net amount retained by the Company if a third party is involved. A contract liability for deferred revenue is recorded when consideration is received or is unconditionally due from a customer prior to transferring control of goods or services to the customer under the terms of a contract. Deferred revenue balances typically result from advance payments received from customers for contracts or from billings in excess of revenue recognized on services arrangements. Contract assets represent when revenues are recognized in advance of invoice issuance. These assets are presented separately on the consolidated balance sheet and are converted to accounts receivable once the Company’s right to the consideration becomes unconditional, which varies by contract but is generally based on achieving certain acceptance milestones. The Company recognizes the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset would be one year or less. Infrastructure Broadband and wireless, electrical contracting services, and electric vehicle charging projects often require significant services to integrate complex activities and equipment into a single deliverable and are therefore generally accounted for as a single performance obligation, even when delivering multiple services that are capable of being distinct. Contract amendments and change orders, which are generally not distinct from the existing contract, are typically accounted for as a modification of the existing contract and performance obligation. The Company recognizes revenues from these services over time using an input method, based on assessment of performance completed to date. The Company uses the percentage of completion method when it measures its progress towards completion of the performance obligation based on the ratio of costs incurred to date to total estimated costs at completion under the contract. The Company believes that this approach faithfully depicts the Company’s performance toward complete satisfaction of the performance obligation as it accurately measures the transfer of control of the finished product to the customer. Due to the nature of the Company’s performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials, the performance of subcontracts, and the availability and timing of funding from the customer, among other variables. As a significant change in one or more of these estimates could affect the profitability of contracts, the Company updates contract-related estimates regularly through a review process in which management evaluates the progress and execution of each performance obligation and the estimated cost at completion. As part of this process, management reviews information including, but not limited to, any outstanding key contract matter, progress towards completion and the related program schedule and the related changes in estimates of revenues and costs. The Company recognizes adjustments in estimated profit on contracts on a cumulative catch-up basis. Therefore, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, the Company recognizes a provision for the entire loss in the period it is identified. The nature of the Company’s contracts gives rise to several types of variable consideration, including claims and unpriced change orders. The Company includes variable consideration in the estimated transaction price when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The Company estimates the amount of variable consideration to be included in the transaction price, using the expected value or the most likely amount method, which is expected to better predict the amount. The Company’s estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on assessments of legal enforceability, performance, and all information that is reasonably available to the Company. Fleet services include a single deliverable of leased parking spaces. The Company recognizes revenues from these services evenly over the life of the contracts. Telecommunications The amount of consideration the Company receives and revenue it recognizes is fixed based upon contractually agreed upon rates. The Company recognizes revenue at a point in time when the voice, data and SMS are routed, and the performance obligation is satisfied. Revenue is earned based on the number of minutes during a call multiplied by the price per minute and is recorded upon completion of a call. Incomplete calls are not revenues earned by Telecommunications and may occur as a result of technical issues or because the customer’s credit limit was exceeded and thus the customer routing of traffic was prevented. Telecommunications evaluates gross versus net revenue recognition for each of its contractual arrangements by assessing indicators of control to determine whether Telecommunications acts as a principal (i.e., gross recognition) or an agent (i.e., net recognition). Telecommunications has determined that it acts as a principal for all of its performance obligations as Telecommunications may accept or reject calls, determines the routing decision and routing vendor and has the risk of financial loss on revenues from customers and amounts owed to the vendors. Net revenue represents gross revenue, net of allowance for doubtful accounts receivable, service credits and service adjustments. Cost of revenue includes network costs that consist of access, transport and termination costs. The majority of Telecommunications’ cost of revenue is variable, primarily based upon minutes of use, with transmission and termination costs being the most significant expense. Refer to Note 4, Revenue, for additional information on the Company’s revenue.
Cost of Sales	Cost of sales consists primarily of network telecommunication costs, contracted services, salaries and related employee benefits, including stock-based compensation, material and equipment costs, travel and other costs related to vehicles, training and lease expense.
Recent Accounting Pronouncements	In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments In October 2021, the FASB issued ASU No. 2021-08, Business Combinations - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity .
Reclassification	Certain amounts included in the prior year financial statements and disclosures have been reclassified to conform to the current year presentation. These reclassifications did not have a material impact on the Company’s previously reported financial statements. Change in Accounting Principle Effective January 1, 2023, the Company changed its accounting principle for recognizing stock-based compensation expense from the graded vesting attribution method, where an award is divided into vesting increments or tranches, to the straight-line attribution method of accounting. The Company believes the straight-line attribution method more accurately reflects how awards are earned over its employees’ service periods. Also, it is the predominant method used in its industry, and therefore it better aligns the Company’s recognition of stock-based compensation expense with its peers. The retrospective application of the change in accounting principle had an effect on the consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income (loss) and consolidated statements of stockholders’ equity. There was no net effect to the amounts reported for net cash provided by (used in) operating, investing or financing activities in the consolidated statements of cash flows for prior periods as a result of the change in accounting method. However, the net loss, change in deferred income taxes and stock-based compensation line items within net cash flows provided by operating activities each decreased as shown below to reflect the change in accounting method. The following tables present the comparative effect of the change in accounting principle and its effect on the Company’s previously reported financial statements. Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 (amounts, in thousands, except per share data) Stock-based compensation Prior to revision $ 5 $ 9,761 $ 5,547 $ 20,505 Revision 4,959 (2,538 ) 5,319 (5,858 ) As revised $ 4,964 $ 7,223 $ 10,866 $ 14,647 Loss from operations Prior to revision $ (3,520 ) $ (12,466 ) $ (12,780 ) $ (25,252 ) Revision (4,959 ) 2,538 (5,319 ) 5,858 As revised $ (8,479 ) $ (9,928 ) $ (18,099 ) $ (19,394 ) Income tax benefit (expense) Prior to revision $ (242 ) $ 11 $ (352 ) $ 1,589 Revision - (56 ) - (261 ) As revised $ (242 ) $ (45 ) $ (352 ) $ 1,328 Net income (loss) Prior to revision $ (3,887 ) $ (19,642 ) $ (12,739 ) $ (32,783 ) Revision (4,959 ) 2,482 (5,319 ) 5,597 As revised $ (8,846 ) $ (17,160 ) $ (18,058 ) $ (27,186 ) Basic income (loss) per share available to common stockholders Prior to revision $ (0.02 ) $ (0.27 ) $ (0.06 ) $ (0.37 ) Revision (0.02 ) 0.01 (0.03 ) 0.03 As revised $ (0.04 ) $ (0.26 ) $ (0.09 ) $ (0.34 ) Diluted income (loss) per share available to common stockholders Prior to revision $ (0.02 ) $ (0.27 ) $ (0.06 ) $ (0.37 ) Revision (0.02 ) 0.01 (0.03 ) 0.03 As revised $ (0.04 ) $ (0.26 ) $ (0.09 ) $ (0.34 ) The opening balances of accumulated deficit and additional paid in capital as of December 31, 2021, have been adjusted by $8.0 million and $9.1 million, respectively to reflect the cumulative effect of the change. As of June 30, December 31, 2023 2022 (amounts, in thousands) Net deferred tax (liability) asset Prior to revision $ (1,144 ) $ (1,389 ) Revision (26 ) (21 ) As revised $ (1,170 ) $ (1,410 ) Additional paid in capital Prior to revision $ 214,763 $ 197,816 Revision (12,774 ) (18,093 ) As revised $ 201,989 $ 179,723 Accumulated deficit Prior to revision $ (187,025 ) $ (173,586 ) Revision 12,748 18,072 As revised $ (174,277 ) $ (155,514 ) Total stockholders' equity Prior to revision $ 27,759 $ 24,250 Revision (26 ) (21 ) As revised $ 27,733 $ 24,229 Stock-based compensation correction of immaterial error In 2023, the Company identified a misstatement related to its presentation of stock-based compensation in its consolidated statements of operations. Although determined to be immaterial, the Company elected to correct the immaterial misstatement and reclassified its stock-based compensation expense to the same financial statement line item as cash compensation paid to the same employees and nonemployees. The reclassification reflects the change in accounting principle discussed above and had no incremental impact on the consolidated balance sheets, consolidated statements of comprehensive income (loss), consolidated statements of stockholders’ equity, or consolidated statement of cash flows. There was no net effect to the amounts reported for (loss) from operations as a result of this reclassification. However, cost of sales, gross profit, stock-based compensation, general and administrative, salaries and related benefits, and total operating expenses each were adjusted as shown below to reflect the reclassification. The following tables present the effect of the reclassification on the Company’s previously reported financial statements. Year Ended December 31, 2022 2021 2020 (amounts, in thousands) Cost of sales Prior to revision $ 669,620 $ 465,503 $ 83,554 Revision 2,503 1,771 - As revised $ 672,123 $ 467,274 $ 83,554 Gross Profit Prior to revision $ 28,213 $ 11,515 $ 1,172 Revision (2,503 ) (1,771 ) - As revised $ 25,710 $ 9,744 $ 1,172 Stock-based compensation Prior to revision $ 26,499 $ 21,801 $ 2,005 Revision (26,499 ) (21,801 ) (2,005 ) As revised $ - $ - $ - General and administrative Prior to revision $ 14,392 $ 7,995 $ 2,020 Revision 9,117 11,011 121 Other Reclassifications (677 ) - - As revised $ 22,832 $ 19,006 $ 2,141 Salaries and related benefits Prior to revision $ 16,677 $ 8,806 $ 687 Revision 14,879 9,019 1,884 Other Reclassifications 657 - - As revised $ 32,203 $ 17,825 $ 2,571 Total operating expenses Prior to revision $ 67,225 $ 40,977 $ 5,922 Revision (2,503 ) (1,771 ) - Other Reclassifications (20 ) - - As revised $ 64,702 $ 39,206 $ 5,922 Three Months Ended March 31, 2022 June 30, 2022 September 30, 2022 December 31, 2022 (amounts, in thousands) Cost of sales Prior to revision $ 156,812 $ 173,760 $ 178,951 $ 160,097 Revision 804 704 506 489 Other Reclassifications - 303 303 (606 ) As revised $ 157,616 $ 174,767 $ 179,760 $ 159,980 Gross Profit Prior to revision $ 6,166 $ 7,281 $ 6,906 $ 7,860 Revision (804 ) (704 ) (506 ) (489 ) Other Reclassifications - (303 ) (303 ) 606 As revised $ 5,362 $ 6,274 $ 6,097 $ 7,977 Stock-based compensation Prior to revision $ 7,424 $ 7,223 $ 5,867 $ 5,985 Revision (7,424 ) (7,223 ) (5,867 ) (5,985 ) As revised $ - $ - $ - $ - General and administrative Prior to revision $ 2,742 $ 3,908 $ 3,516 $ 4,266 Revision 2,865 2,704 1,775 1,773 Other Reclassifications - (160 ) (150 ) (367 ) As revised $ 5,607 $ 6,452 $ 5,141 $ 5,632 Salaries and related benefits Prior to revision $ 4,193 $ 4,127 $ 4,417 $ 3,930 Revision 3,755 3,815 3,586 3,723 Other Reclassifications - (143 ) (153 ) 953 As revised $ 7,948 $ 7,799 $ 7,850 $ 8,607 Total operating expenses Prior to revision $ 15,632 $ 16,906 $ 14,596 $ 20,091 Revision (804 ) (704 ) (506 ) (489 ) Other Reclassifications - (303 ) (303 ) 586 As revised $ 14,828 $ 16,202 $ 14,090 $ 19,582 Three Months Ended March 31, 2023 (amounts, in thousands) Cost of sales Prior to revision $ 186,828 Revision 432 As revised $ 187,260 Gross Profit Prior to revision $ 6,721 Revision (432 ) As revised $ 6,289 Stock-based compensation Prior to revision $ 5,902 Revision (5,902 ) As revised $ - General and administrative Prior to revision $ 3,345 Revision 1,760 As revised $ 5,105 Salaries and related benefits Prior to revision $ 5,418 Revision 3,710 As revised $ 9,128 Total operating expenses Prior to revision $ 16,341 Revision (432 ) As revised $ 15,909

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	6 Months Ended
	Jun. 30, 2023
Summary of significant accounting policies
Schedule of effect on the Company's previously reported financial statements	Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 (amounts, in thousands, except per share data) Stock-based compensation Prior to revision $ 5 $ 9,761 $ 5,547 $ 20,505 Revision 4,959 (2,538 ) 5,319 (5,858 ) As revised $ 4,964 $ 7,223 $ 10,866 $ 14,647 Loss from operations Prior to revision $ (3,520 ) $ (12,466 ) $ (12,780 ) $ (25,252 ) Revision (4,959 ) 2,538 (5,319 ) 5,858 As revised $ (8,479 ) $ (9,928 ) $ (18,099 ) $ (19,394 ) Income tax benefit (expense) Prior to revision $ (242 ) $ 11 $ (352 ) $ 1,589 Revision - (56 ) - (261 ) As revised $ (242 ) $ (45 ) $ (352 ) $ 1,328 Net income (loss) Prior to revision $ (3,887 ) $ (19,642 ) $ (12,739 ) $ (32,783 ) Revision (4,959 ) 2,482 (5,319 ) 5,597 As revised $ (8,846 ) $ (17,160 ) $ (18,058 ) $ (27,186 ) Basic income (loss) per share available to common stockholders Prior to revision $ (0.02 ) $ (0.27 ) $ (0.06 ) $ (0.37 ) Revision (0.02 ) 0.01 (0.03 ) 0.03 As revised $ (0.04 ) $ (0.26 ) $ (0.09 ) $ (0.34 ) Diluted income (loss) per share available to common stockholders Prior to revision $ (0.02 ) $ (0.27 ) $ (0.06 ) $ (0.37 ) Revision (0.02 ) 0.01 (0.03 ) 0.03 As revised $ (0.04 ) $ (0.26 ) $ (0.09 ) $ (0.34 ) Year Ended December 31, 2022 2021 2020 (amounts, in thousands) Cost of sales Prior to revision $ 669,620 $ 465,503 $ 83,554 Revision 2,503 1,771 - As revised $ 672,123 $ 467,274 $ 83,554 Gross Profit Prior to revision $ 28,213 $ 11,515 $ 1,172 Revision (2,503 ) (1,771 ) - As revised $ 25,710 $ 9,744 $ 1,172 Stock-based compensation Prior to revision $ 26,499 $ 21,801 $ 2,005 Revision (26,499 ) (21,801 ) (2,005 ) As revised $ - $ - $ - General and administrative Prior to revision $ 14,392 $ 7,995 $ 2,020 Revision 9,117 11,011 121 Other Reclassifications (677 ) - - As revised $ 22,832 $ 19,006 $ 2,141 Salaries and related benefits Prior to revision $ 16,677 $ 8,806 $ 687 Revision 14,879 9,019 1,884 Other Reclassifications 657 - - As revised $ 32,203 $ 17,825 $ 2,571 Total operating expenses Prior to revision $ 67,225 $ 40,977 $ 5,922 Revision (2,503 ) (1,771 ) - Other Reclassifications (20 ) - - As revised $ 64,702 $ 39,206 $ 5,922 Three Months Ended March 31, 2022 June 30, 2022 September 30, 2022 December 31, 2022 (amounts, in thousands) Cost of sales Prior to revision $ 156,812 $ 173,760 $ 178,951 $ 160,097 Revision 804 704 506 489 Other Reclassifications - 303 303 (606 ) As revised $ 157,616 $ 174,767 $ 179,760 $ 159,980 Gross Profit Prior to revision $ 6,166 $ 7,281 $ 6,906 $ 7,860 Revision (804 ) (704 ) (506 ) (489 ) Other Reclassifications - (303 ) (303 ) 606 As revised $ 5,362 $ 6,274 $ 6,097 $ 7,977 Stock-based compensation Prior to revision $ 7,424 $ 7,223 $ 5,867 $ 5,985 Revision (7,424 ) (7,223 ) (5,867 ) (5,985 ) As revised $ - $ - $ - $ - General and administrative Prior to revision $ 2,742 $ 3,908 $ 3,516 $ 4,266 Revision 2,865 2,704 1,775 1,773 Other Reclassifications - (160 ) (150 ) (367 ) As revised $ 5,607 $ 6,452 $ 5,141 $ 5,632 Salaries and related benefits Prior to revision $ 4,193 $ 4,127 $ 4,417 $ 3,930 Revision 3,755 3,815 3,586 3,723 Other Reclassifications - (143 ) (153 ) 953 As revised $ 7,948 $ 7,799 $ 7,850 $ 8,607 Total operating expenses Prior to revision $ 15,632 $ 16,906 $ 14,596 $ 20,091 Revision (804 ) (704 ) (506 ) (489 ) Other Reclassifications - (303 ) (303 ) 586 As revised $ 14,828 $ 16,202 $ 14,090 $ 19,582 Three Months Ended March 31, 2023 (amounts, in thousands) Cost of sales Prior to revision $ 186,828 Revision 432 As revised $ 187,260 Gross Profit Prior to revision $ 6,721 Revision (432 ) As revised $ 6,289 Stock-based compensation Prior to revision $ 5,902 Revision (5,902 ) As revised $ - General and administrative Prior to revision $ 3,345 Revision 1,760 As revised $ 5,105 Salaries and related benefits Prior to revision $ 5,418 Revision 3,710 As revised $ 9,128 Total operating expenses Prior to revision $ 16,341 Revision (432 ) As revised $ 15,909
Schedule of cumulative effect of the change	As of June 30, December 31, 2023 2022 (amounts, in thousands) Net deferred tax (liability) asset Prior to revision $ (1,144 ) $ (1,389 ) Revision (26 ) (21 ) As revised $ (1,170 ) $ (1,410 ) Additional paid in capital Prior to revision $ 214,763 $ 197,816 Revision (12,774 ) (18,093 ) As revised $ 201,989 $ 179,723 Accumulated deficit Prior to revision $ (187,025 ) $ (173,586 ) Revision 12,748 18,072 As revised $ (174,277 ) $ (155,514 ) Total stockholders' equity Prior to revision $ 27,759 $ 24,250 Revision (26 ) (21 ) As revised $ 27,733 $ 24,229

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair value measurements
Assets and liabilities measured at fair value	June 30, 2023 (in thousands) Level 1 Level 2 Level 3 Measured at Net Asset Value as a Practical Expedient Total Assets: Marketable securities (Note 5) $ 9,919 $ - $ - $ 1,678 $ 11,597 Liabilities: Derivative liabilities (Note 9) $ - $ 59 $ - $ - $ 59

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue
Summary of contract balances	(in thousands) June 30, 2023 December 31, 2022 Receivables included in "Accounts receivable net of allowances" $ 73,998 $ 72,405 Contract assets 7,290 6,090 Contract liabilities - current 24,765 13,741
Summary of changes in the balance of contract liabilities	(in thousands) Balance at December 31, 2022 $ 13,741 Revenue recognized during the period that was included in the beginning balance (12,084 ) Additions, net of revenue recognized during the period 23,108 Balance at June 30, 2023 $ 24,765
Disaggregation of revenue	Three Months Ended June 30, (in thousands) 2023 2022 Revenue: Infrastructure $ 29,954 $ 25,433 Telecommunications 117,632 155,608 Total $ 147,586 $ 181,041 Six Months Ended June 30, (in thousands) 2023 2022 Revenue: Infrastructure $ 57,451 $ 45,051 Telecommunications 283,684 298,968 Total $ 341,135 $ 344,019

Marketable securities and oth_2

Marketable securities and other investments (Tables)	6 Months Ended
	Jun. 30, 2023
Marketable securities and other investments
Marketable Securities	(in thousands) June 30, 2023 December 31, 2022 Brokerage Account $ 11,597 $ 6,757

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and intangible assets
Schedule of goodwill by reportable segment	(in thousands) Infrastructure Telecommunications Consolidated Total Goodwill, net, as of December 31, 2022 $ 11,900 $ 772 $ 12,672 Goodwill, net, as of June 30, 2023 $ 11,900 $ 772 $ 12,672
Intangible assets	June 30, 2023 December 31, 2022 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 30,849 $ (3,517 ) $ 27,332 $ 30,849 $ (2,489 ) $ 28,360 Backlog 3,322 (1,661 ) 1,661 3,322 (1,107 ) 2,215 Non-compete agreements 3,729 (1,361 ) 2,368 3,729 (895 ) 2,834 Off-market favorable leases 955 (955 ) - 955 (955 ) - Brand 560 (56 ) 504 560 (37 ) 523 Total $ 39,415 $ (7,550 ) $ 31,865 $ 39,415 $ (5,483 ) $ 33,932

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Related party transactions
Schedule of debt	(in thousands) June 30, 2023 December 31, 2022 Line of Credit ANS Line of Credit $ - $ 5,024 Total Line of Credit - 5,024 Notes Payable Issued on May 19, 2021 11,860 11,860 Issued on December 17, 2021 15,926 15,926 Total Face Value of Notes Payable 27,786 27,786 Less: Unamortized Discount (1,650 ) (3,630 ) Net Carrying Value of Notes Payable 26,136 24,156 Total debt before deferred financing costs 26,136 29,180 Current amount of Notes Payable 26,136 24,156 Current amount of Line of Credit - 5,024 Total current portion of long-term debt 26,136 29,180 Total long-term debt, net of current portion $ - $ -
Schedule of interest expense	Three Months Ended June 30, (in thousands) 2023 2022 Interest expense $ (498 ) $ (746 ) Amortization of debt discount (990 ) (6,414 ) Total net interest expense $ (1,488 ) $ (7,160 ) Six Months Ended June 30, (in thousands) 2023 2022 Interest expense $ (1,046 ) $ (1,480 ) Amortization of debt discount (1,980 ) (7,444 ) Total net interest expense $ (3,026 ) $ (8,924 )

Derivative liabilities (Tables)

Derivative liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative liabilities
Schedule of change in fair value of derivative liabilities	Three Months Ended June 30, (in thousands) 2023 2022 Derivative liability beginning balance $ 339 $ - Change in fair value of derivative liabilities (280 ) - Warrant exercise - - Derivative liability ending balance $ 59 $ - Six Months Ended June 30, (in thousands) 2023 2022 Derivative liability beginning balance $ 6,521 $ - Change in fair value of derivative liabilities (1,656 ) - Warrant exercise (4,806 ) - Derivative liability ending balance $ 59 $ -

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases
Summary of components of rental revenue	Three Months Ended June 30, (in thousands) 2023 2022 Revenue: Fixed component $ 843 $ 1,264 Variable component - - Total $ 843 $ 1,264 Six Months Ended June 30, (in thousands) 2023 2022 Revenue: Fixed component $ 1,733 $ 2,411 Variable component - - Total $ 1,733 $ 2,411

Reportable segments (Tables)

Reportable segments (Tables)	6 Months Ended
	Jun. 30, 2023
Reportable segments
Summary of reportable operating segments	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 (As Adjusted) 2023 2022 (As Adjusted) Income (loss) from operations: Infrastructure $ (678 ) $ (1,635 ) $ (2,865 ) $ (3,142 ) Telecommunications 3 241 (137 ) 625 Non-operating corporate (7,804 ) (8,534 ) (15,097 ) (16,877 ) Total $ (8,479 ) $ (9,928 ) $ (18,099 ) $ (19,394 )
Reconciliation of operating income loss segment	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 (As Adjusted) 2023 2022 (As Adjusted) Loss from operations $ (8,479 ) $ (9,928 ) $ (18,099 ) $ (19,394 ) Income (loss) from investments, net 666 (973 ) 962 (1,143 ) Change in fair value of derivative liabilities 280 - 1,656 - Interest expense (1,488 ) (7,160 ) (3,026 ) (8,924 ) Loss on impairment (58 ) - (58 ) - Other income (expense), net 637 776 1,028 1,034 Foreign exchange adjustments (162 ) 170 (169 ) (87 ) Total other expenses (125 ) (7,187 ) 393 (9,120 ) Loss from operations before income taxes (8,604 ) (17,115 ) (17,706 ) (28,514 ) Income tax (expense) benefit (242 ) (45 ) (352 ) 1,328 Net loss $ (8,846 ) $ (17,160 ) $ (18,058 ) $ (27,186 )
Schedule of Summary information with respect to the Company's operating segments	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Depreciation and amortization: Infrastructure $ 1,183 $ 1,062 $ 2,373 $ 1,227 Telecommunications 9 41 29 85 Total $ 1,192 $ 1,103 $ 2,402 $ 1,312 Six Months Ended June 30, (in thousands) 2023 2022 Capital expenditures: Infrastructure $ 102 $ 70 Telecommunications - - Total $ 102 $ 70 (in thousands) June 30, 2023 December 31, 2022 Investments: Infrastructure $ 1,685 $ 1,389 Telecommunications - - Non-operating corporate 10,148 5,604 Total $ 11,833 $ 6,993 (in thousands) June 30, 2023 December 31, 2022 (As Adjusted) Assets: Infrastructure $ 104,480 $ 102,248 Telecommunications 67,105 42,046 Non-operating corporate 24,279 24,160 Total $ 195,864 $ 168,454

Stockholders equity (Tables)

Stockholders equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders equity
Warrant activity	(in thousands except exercise price and contractual life) Number of Weighted Average Weighted Average Remaining Warrants Exercise Price Contractual Life Warrants outstanding at January 1, 2022 24,085 $ 1.74 3.0 years Issued 2,000 8.50 2.8 years Exercised (8,183 ) (1.59 ) N/A Expired - - N/A Warrants outstanding at December 31, 2022 17,902 $ 2.56 1.8 years Warrants exercisable at December 31, 2022 17,902 $ 2.56 1.8 years Issued - - Exercised (7,600 ) 0.50 N/A Expired - - N/A Warrants outstanding at June 30, 2023 10,302 $ 4.08 Warrants exercisable at June 30, 2023 10,302 $ 4.08 2.4 years

Stock-based compensation (Table

Stock-based compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Stock-based compensation
Schedule of Stock option activity	Weighted Average Weighted Average Remaining (in thousands except exercise price and contractual term) Shares Exercise Price Intrinsic Value Contractual Term Options outstanding at December 31, 2022 49,576 $ 2.07 - - Options granted 5,430 1.09 - - Options exercised (75 ) 0.55 - - Options cancelled (3,449 ) 2.70 - - Options outstanding at June 30, 2023 51,482 $ 1.93 $ 9,223 4.36 years Options exercisable at June 30, 2023 30,402 $ 1.74 $ 6,834 3.48 years Vested and expected to vest at June 30, 2023 51,482 $ 1.93 $ 9,223 4.36 years
Schedule of BSM valuation for stock options granted	Three Months Ended June 30, 2023 Weighted risk-free interest rate 1 3.2 % Weighted-average volatility 2 58 % Weighted expected dividend yield 3 - % Weighted expected term (in years) 4 5.5
Schedule of Restricted stock unit	Weighted Average (in thousands except exercise price and contractual term) Shares Grant Date Fair Value RSUs outstanding at December 31, 2022 405 $ 2.26 RSUs granted 40 0.92 RSUs released - - RSUs forfeited (100 ) 2.22 RSUs outstanding at June 30, 2023 345 $ 2.11 Weighted average remaining recognition period in years 3.2 Unamortized stock-based compensation expense $ 587
Schedule of Recognized Non-Cash Stock-Based Compensation Expense	Three Months Ended June 30, (in thousands) 2023 2022 (As Adjusted) Cost of sales $ 301 $ 704 General and administrative 1,350 2,704 Salaries and related benefits 3,313 3,815 Total stock-based compensation 4,964 7,223 Income tax benefit (1) 96 19 After-tax stock-based compensation expense $ 4,868 $ 7,204 Six Months Ended June 30, (in thousands) 2023 2022 (As Adjusted) Cost of sales $ 733 $ 1,508 General and administrative 3,110 5,569 Salaries and related benefits 7,023 7,570 Total stock-based compensation 10,866 14,647 Income tax benefit (1) 157 683 After-tax stock-based compensation expense $ 10,709 $ 13,964

Income taxes (Tables)

Income taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income taxes
Schedule of income tax provision	Three Months Ended June 30, 2023 2022 (As Adjusted) Income (loss) before income taxes $ (8,604 ) $ (17,115 ) Income tax benefit (expense) (242 ) (45 ) Effective tax rate (2.8%) (0.3%) Six Months Ended June 30, 2023 2022 (As Adjusted) Income (loss) before income taxes $ (17,706 ) $ (28,514 ) Income tax benefit (expense) (352 ) 1,328 Effective tax rate (2.0%) 4.7 %

Net income (loss) per share (Ta

Net income (loss) per share (Tables)	6 Months Ended
	Jun. 30, 2023
Net income (loss) per share
Schedule of calculation of diluted net income (loss) per share	Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Restricted stock units 375 127 390 184 Contingently issuable shares - - 744 - Warrants 10,303 24,231 13,956 24,108 Stock options 52,212 49,868 51,336 48,221 Preferred stock 23,157 21,613 21,655 18,051 Convertible notes payable - 49,996 - 50,245 Total 86,047 145,835 88,081 140,809

Summary of significant accoun_4

Summary of significant accounting policies (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Loss from operations	$ (8,479)	$ (9,928)	$ (18,099)	$ (19,394)
Income tax (expense) benefit	(242)	(45)	(352)	1,328
Net income (loss)	$ (8,846)	$ (17,160)	$ (18,058)	$ (27,186)
Basic income (loss) per share available to common stockholders	$ (0.04)	$ (0.26)	$ (0.09)	$ (0.34)
Diluted income (loss) per share available to common stockholders	$ (0.04)	$ (0.26)	$ (0.09)	$ (0.34)
As revised
Stock-based compensation	$ 4,964	$ 7,223	$ 10,866	$ 14,647
Loss from operations	(8,479)	(9,928)	(18,099)	(19,394)
Income tax (expense) benefit	242	(45)	352	(1,328)
Net income (loss)	$ (8,846)	$ (17,160)	$ (18,058)	$ (27,186)
Basic income (loss) per share available to common stockholders	$ (0.04)	$ (0.26)	$ (0.09)	$ (0.34)
Diluted income (loss) per share available to common stockholders	$ (0.04)	$ (0.26)	$ (0.09)	$ (0.34)
Prior to revision
Stock-based compensation	$ 5	$ 9,761	$ 5,547	$ 20,505
Loss from operations	(3,520)	(12,466)	(12,780)	(25,252)
Income tax (expense) benefit	242	11	352	1,589
Net income (loss)	$ (3,887)	$ (19,642)	$ (12,739)	$ (32,783)
Basic income (loss) per share available to common stockholders	$ (0.02)	$ (0.27)	$ (0.06)	$ (0.37)
Diluted income (loss) per share available to common stockholders	$ (0.02)	$ (0.27)	$ (0.06)	$ (0.37)
Revision
Stock-based compensation	$ 4,959	$ 5,319	$ (2,538)	$ (5,858)
Loss from operations	(4,959)	2,538	(5,319)	5,858
Income tax (expense) benefit	0	(56)	0	(261)
Net income (loss)	$ (4,959)	$ 2,482	$ (5,319)	$ 5,597
Basic income (loss) per share available to common stockholders	$ (0.02)	$ 0.01	$ (0.03)	$ 0.03
Diluted income (loss) per share available to common stockholders	$ (0.02)	$ 0.01	$ (0.03)	$ 0.03

Summary of significant accoun_5

Summary of significant accounting policies (Details 1) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Additional paid in capital	$ 201,989		$ 179,723
Accumulated deficit	(174,277)		(155,514)
Total stockholders' equity	27,733	$ 31,958	24,229	$ 5,857	$ 39,935	$ 14,348
As revised
Net deferred tax (liability) asset	(1,170)		(1,410)
Additional paid in capital	201,989		179,723
Accumulated deficit	(174,277)		(155,514)
Total stockholders' equity	27,733		24,229
Prior to revision
Net deferred tax (liability) asset	(1,144)		(1,389)
Additional paid in capital	214,763		197,816
Accumulated deficit	(187,025)		(173,586)
Total stockholders' equity	27,759		24,250
Revision
Net deferred tax (liability) asset	(26)		(21)
Additional paid in capital	(12,774)		(18,093)
Accumulated deficit	12,748		18,072
Total stockholders' equity	$ (26)		$ (21)

Summary of significant accoun_6

Summary of significant accounting policies (Details 2) - USD ($) $ in Thousands	3 Months Ended						6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cost of sales	$ 139,838				$ 174,767		$ 327,098	$ 332,383
Gross Profit	7,748				6,274		14,037	11,636
General and administrative	5,433				6,452		10,539	12,059
Total operating expenses	$ 16,227				16,202		$ 32,136	$ 31,030
As revised
Cost of sales		$ 187,260	$ 159,980	$ 179,760	174,767	$ 157,616			$ 672,123	$ 467,274	$ 83,554
Gross Profit		6,289	7,977	6,097	6,274	5,362			25,710	9,744	1,172
Stock-based compensation				0	0	0
General and administrative		5,105	5,632	5,141	6,452	5,607			22,832	19,006	2,141
Salaries and related benefits		9,128	8,607	7,850	7,799	7,948			32,203	17,825	2,571
Total operating expenses		15,909	19,582	14,090	16,202	14,828			64,702	39,206	5,922
Prior to revision
Cost of sales		186,828	160,097	178,951	173,760	156,812			669,620	465,503	83,554
Gross Profit		6,721	7,860	6,906	7,281	6,166			28,213	11,515	1,172
Stock-based compensation		5,902	5,985	5,867	7,223	7,424			26,499	21,801	2,005
General and administrative		3,345	4,266	3,516	3,908	2,742			14,392	7,995	2,020
Salaries and related benefits		5,418	3,930	4,417	4,127	4,193			16,677	8,806	687
Total operating expenses		16,341	20,091	14,596	16,906	15,632			67,225	40,977	5,922
Revision
Cost of sales		432	489	506	704	804			2,503	1,771	0
Gross Profit		(432)	(489)	(506)	(704)	(804)			(2,503)	(1,771)	0
Stock-based compensation		(5,902)	(5,985)	(5,867)	(7,223)	(7,424)			(26,499)	(21,801)	(2,005)
General and administrative		1,760	1,773	1,775	2,704	2,865			9,117	11,011	121
Salaries and related benefits		3,710	3,723	3,586	3,815	3,755			14,879	9,019	1,884
Total operating expenses		$ (432)	(489)	(506)	(704)	(804)			(2,503)	(1,771)
Other Reclassifications
Cost of sales			606	303	303
Gross Profit			606	(303)	(303)
Salaries and related benefits			953	153	143	0			657
Total operating expenses			586	(303)	(303)	0			(20)	$ 0	$ 0
General and administrative			$ (367)	$ (150)	$ (160)	$ 0			$ (677)

Summary of significant accoun_7

Summary of significant accounting policies (Details Narrative) - USD ($)	1 Months Ended		6 Months Ended
	Dec. 17, 2021	May 19, 2021	Jun. 30, 2023	Dec. 31, 2021
Summary of significant accounting policies
Management principal amount	$ 15,900,000	$ 11,800,000
Note payable aggregated amount			$ 27,800,000
Note payable due date			Nov. 19, 2023
Accumulated deficit				$ 8,000,000
Additional paid in capital				$ 9,100,000

Fair value measurements (Detail

Fair value measurements (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022
Marketable securities	$ 11,597,000		$ 6,757,000
Derivative liabilities	59	$ 339,000	$ 6,521,000	$ 0	$ 0
Measured at Net Asset Value as a Practical Expedient
Marketable securities	1,678,000
Derivative liabilities	0
Level 1 [Member]
Marketable securities	9,919,000
Derivative liabilities	0
Level 2 [Member]
Marketable securities	0
Derivative liabilities	59,000
Level 3 [Member]
Marketable securities	0
Derivative liabilities	$ 0

Fair value measurements (Deta_2

Fair value measurements (Details Narrative) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Common Stock issued	212,899,281	206,844,580
Contingent liability		$ 3.5
Nonrecurring Fair Value Measurements [Member]
Common Stock issued		1,530,145
Non-marketable securities	$ 0.2

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenue
Receivables included in "Accounts receivable net of allowances"	$ 73,998	$ 72,405
Contract assets	7,290	6,090
Contract liabilities - current	$ 24,765	$ 13,741

Revenue (Details 1)

Revenue (Details 1) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Revenue
Balance at December 31, 2022	$ 13,741
Revenue recognized during the period that was included in the beginning balance	(12,084)
Additions, net of revenue recognized during the period	23,108
Balance at June 30, 2023	$ 24,765

Revenue (Details 2)

Revenue (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue	$ 147,586	$ 181,041	$ 341,135	$ 344,019
Infrastructures
Revenue	29,954	25,433	57,451	45,051
Telecommunication
Revenue	$ 117,632	$ 155,608	$ 283,684	$ 298,968

Revenue (Details Narrative)

Revenue (Details Narrative) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Revenue
Deferred Revenue	$ 24.8
Performance Obligations	$ 138.2
Description of revenue backlog	The Company anticipates it will recognize approximately 46% of its remaining performance obligations within backlog as revenue in 2023, approximately 53% in 2024, and the remainder in 2025
Other receivables	$ 0.1	$ 0

Marketable securities and oth_3

Marketable securities and other investments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Brokerage Account
Marketable Securities Fair Value	$ 11,597	$ 6,757

Marketable securities and oth_4

Marketable securities and other investments (Details Narrative) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Marketable securities and other investments
Recognized net losses or gain	$ 0.7	$ 1	$ 1	$ 1.1
Realized losses	0.1	0.6	0.1	1
Unrealized losses	$ 0.8	$ 0.4	$ 1.1	$ 0.1

Goodwill and intangible asset_2

Goodwill and intangible assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Total [Member]
Goodwill, net, Beginning Balance		$ 12,672
Goodwill, net, Ending Balance	$ 12,672
Infrastructure [Member]
Goodwill, net, Beginning Balance		11,900
Goodwill, net, Ending Balance	11,900
Telecommunications [Member]
Goodwill, net, Beginning Balance		$ 772
Goodwill, net, Ending Balance	$ 772

Goodwill and intangible asset_3

Goodwill and intangible assets (Details 1) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Gross Carrying Amount	$ 39,415,000	$ 39,415,000
Accumulated Amortization	7,550,000	5,483,000
Net Carrying Amount	31,865,000	33,932,000
Customer Relationships
Gross Carrying Amount	30,849,000	30,849,000
Accumulated Amortization	3,517,000	2,489,000
Net Carrying Amount	27,332,000	28,360,000
Backlog [Member]
Gross Carrying Amount	3,322,000	3,322,000
Accumulated Amortization	1,661,000	1,107,000
Net Carrying Amount	1,661,000	2,215,000
Non-compete agreements [Member]
Gross Carrying Amount	3,729,000	3,729,000
Accumulated Amortization	1,361,000	895,000
Net Carrying Amount	2,368,000	2,834,000
Off-market favorable leases [Member]
Gross Carrying Amount	955,000	955,000
Accumulated Amortization	955,000	955,000
Net Carrying Amount	0	0
Brand [Member]
Gross Carrying Amount	560,000	560,000
Accumulated Amortization	56,000	37,000
Net Carrying Amount	$ 504,000	$ 523,000

Related Party (Details Narrativ

Related Party (Details Narrative) - Korr Acquisition Group Inc. [Member]	6 Months Ended
	Jun. 30, 2023 USD ($)
Advisory fee	$ 25,000
Upfront payement	$ 500,000

Debt (Details)

Debt (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Total current portion of long-term debt	$ 26,136,000	$ 29,180,000
Long-Term Debt [Member]
ANS Line of Credit	0	5,024,000
Total Line of Credit	0	5,024,000
Notes Payable Issued on May 19, 2021	11,860,000	11,860,000
Notes Payable Issued on December 17, 2021	15,926,000	15,926,000
Total Face Value of Notes Payable	27,786,000	27,786,000
Less: Unamortized Discount	(1,650,000)	(3,630,000)
Notes Payable Net Carrying Value	26,136,000	24,156,000
Before deferred financing costs	26,136,000	29,180,000
Current amount of Notes Payable	26,136,000	24,156,000
Current amount of Line of Credit	0	5,024,000
Total current portion of long-term debt	26,136,000	29,180,000
Total long-term debt, net of current portion	$ 0	$ 0

Debt (Details 1)

Debt (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest expense	$ (1,488)	$ (7,160)	$ (3,026)	$ (8,924)
Amortization of debt discount			1,980	7,444
Notes Payable [Member]
Interest expense	(498)	(746)	(1,046)	(1,480)
Amortization of debt discount	(990)	(6,414)	(1,980)	(7,444)
Total interest expense	$ (1,488)	$ (7,160)	$ (3,026)	$ (8,924)

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)			1 Months Ended				6 Months Ended
	Nov. 03, 2020	May 08, 2020	Nov. 18, 2022	Dec. 17, 2021	May 19, 2021	Apr. 30, 2020	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Oct. 25, 2022	Mar. 25, 2021
Description of line of credit								Advances under the line of credit were limited to 75% of BW’s eligible accounts receivable. At all times during the loan term BW was required to maintain a minimum increase in the net retained earnings of $0.2 million tested annually
Common Stock, Issued							212,899,281		206,844,580
Series D Preferred Stock [Member]
Preferred Stock, Issued							1,177,023		1,177,023
May 2021 Financing | Series D Preferred Stock [Member]
Preferred Stock, Issued								1,177,023
Line Of Credit [Member]
Line Of Credit Available With A Bank							$ 8,000,000
Lenders Index Rate							8.25%		7.50%
Percentage of advances against the line of credit									50%	70%
Outstanding balance of line of credit							$ 0		$ 5,000,000
Line Of Credit available with the bank									$ 8,000,000	$ 4,000,000
Line Of Credit [Member] | BW [Member]
Line Of Credit Available With A Bank							$ 3,000,000
Lenders Index Rate							8.25%		7.50%
Line Of Credit [Member] | ANS [Member]
Line Of Credit Available With A Bank			$ 750,000
Collateral			There are no financial commitments or covenants on the line of credit. As of June 30, 2023
Outstanding balance of line of credit							$ 0		$ 0
May 19'2021 [Member] | Notes Payable [Member]
Warrants to acquire Common Stock					$ 1,870,000
Convertible notes, aggregate principal amount					560,000
Aggregate Purchase Price					$ 5,000,000
Debt interest rate during period					8%
Maturity Date					May 19, 2024
Original issue discount rate					10%
Notes payable, aggregate face value					$ 11,800,000
Notes payable, aggregate purchase price					$ 10,000,000
Note coupon premium percentage					7.50%
Term of note coupon							18-month term
Note coupon percentage rate					8%
Conversion price					$ 3
May 2020 Financing
Convertible notes, aggregate principal amount		$ 3,000,000
Warrants to purchase common stock		7,600,000
Debt interest rate during period		8%
Maturity Date		May 08, 2023
Initial conversion price Series G Perferred shares		$ 7.5
Purchase price of convertible notes payable		$ 270,000
December 17, 2021 [Member] | Notes Payable [Member]
Aggregate Purchase Price				$ 13,300,000
Term of coupon							23-month term
Aggregated face value				$ 15,900,000
Note Coupon				7.50%
November 2020 Financing
Debt interest rate during period	8%
Maturity Date	Nov. 03, 2024
Initial conversion price	$ 0.25
Aggregate purchase price	$ 350,000
Convertible notes, principal amount	$ 390,000
Common Stock, Issued	903,226
Sutton Global
Initial conversion price						$ 0.0005
Convertible note face value						$ 30,000
Coupon rate						6%
loss on modification of debt						$ 10,000
Conversion of the convertible note payable											$ 20,000
Conversion in common stock						319,950
Conversion date						Dec. 31, 2021
Conversion of convertible Common Stock, shares											644,499

Derivative liabilities (Details

Derivative liabilities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative liabilities
Derivative liability beginning balance	$ 339,000	$ 0	$ 6,521,000
Changes in fair value of derivative liabilities	(280,000)		(1,656,000)
Warrant exercise	0	0	(4,806,000)	$ 0
Derivative liability ending balance	$ 59	$ 0	$ 59	$ 0

Derivative liabilities (Detai_2

Derivative liabilities (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022
Derivative liability	$ 59		$ 6,521	$ 4,040
Derivative deemed dividend				$ 3,280
Common Stock, Issued	212,899,281		206,844,580
Gain of derivative liabilities	$ 30	$ 50
Arena Investors
Preferred shares issued		3,200,000
Warrants exercised		760,000
Common Stock, Issued		4,400,000,000
Gain of derivative liabilities		$ 90

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue	$ 147,586	$ 181,041	$ 341,135	$ 344,019
Fixed component
Revenue	843	1,264	1,733	2,411
Variable component
Revenue	0	0	0	0
Total Revenue
Revenue	$ 843	$ 1,264	$ 1,733	$ 2,411

Reportable segments (Details)

Reportable segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income (loss) from operations	$ (8,479)	$ (9,928)	$ (18,099)	$ (19,394)
Infrastructure [Member]
Income (loss) from operations	(678)	(1,635)	(2,865)	(3,142)
Telecommunications [Member]
Income (loss) from operations	3	241	(137)	625
Non-operating Corporate [Member]
Income (loss) from operations	$ (7,804)	$ (8,534)	$ (15,097)	$ (16,877)

Reportable segments (Details 1)

Reportable segments (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income (loss) from operations	$ (8,479)	$ (9,928)	$ (18,099)	$ (19,394)
Other Income (expense), Net	637	776	1,028	1,034
Net income (loss)	(8,846)	(17,160)	(18,058)	(27,186)
Operating Segment [Member]
Income (loss) from operations	(8,479)	(9,928)	(18,099)	(19,394)
Income (loss) from investments, net	666	(973)	962	(1,143)
Change in fair value of derivative liabilities	280	0	1,656	0
Interest Expense	1,488	7,160	3,026	8,924
Loss on impairment	(58)	0	(58)	0
Other Income (expense), Net	637	776	1,028	1,034
Foreign Exchange Adjustments	(162)	170	(169)	(87)
Total Other Expenses	(125)	(7,187)	(393)	(9,120)
Loss from operations before income taxes	(8,604)	(17,115)	(17,706)	(28,514)
Income tax (expense) benefit	(242)	(45)	(352)	1,328
Net income (loss)	$ (8,846)	$ (17,160)	$ (18,058)	$ (27,186)

Reportable segments (Details 2)

Reportable segments (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Depreciation And Amortization	$ 1,192	$ 1,103	$ 2,402	$ 1,312
Depreciation And Amortization	1,192	1,103	2,402	1,312
Infrastructure [Member]
Depreciation And Amortization	1,183	1,062	2,373	1,227
Telecommunications [Member]
Depreciation And Amortization	$ 9	$ 41	$ 29	$ 85

Reportable segments (Details 3)

Reportable segments (Details 3) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Total Capital Expenditures	$ 102,000	$ 70,000,000
Infrastructure [Member]
Total Capital Expenditures	102,000	70,000
Telecommunications [Member]
Total Capital Expenditures	$ 0	$ 0

Reportable segments (Details 4)

Reportable segments (Details 4) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Total Investments	$ 11,833,000	$ 6,993,000
Infrastructure [Member]
Total Investments	1,685,000	1,389,000
Telecommunications [Member]
Total Investments	0	0
Non-operating Corporate [Member]
Total Investments	$ 10,148,000	$ 5,604,000

Reportable segments (Details 5)

Reportable segments (Details 5) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Total Assets	$ 195,864	$ 168,454
Infrastructure [Member]
Total Assets	104,480	102,248
Telecommunications [Member]
Total Assets	67,105	42,046
Non-operating Corporate [Member]
Total Assets	$ 24,279	$ 24,160

Stockholders equity (Details)

Stockholders equity (Details) - Warrants - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 30, 2022
Warrants and Rights Outstanding, Beginning Balance	$ 17,902	$ 24,085
Issued		2,000,000
Exercised	7,600,000	8,183,000
Expired	0	0
Warrants and Rights Outstanding, Ending Balance	$ 10,302	$ 17,902
Warrant exercisable,Ending Balance	10,302,000	17,902,000
Weighted Average Exercise Price, Beginning Balance	$ 2.56	$ 1.74
Weighted Average Exercise Price, Issued	0	8.50
Weighted Average Exercise Price, Exercised	0.50	(1.59)
Weighted Average Exercise Price, Expired	0	0
Weighted Average Exercise Price, Ending balance	4.08	2.56
Weighted Average Exercise Price, Exercisable	$ 4.08	$ 2.56
Weighted Average Remaining Contractual Life, Beginning Balance	1 year 9 months 18 days	3 years
Weighted Average Remaining Contractual Life, Ending Balace		1 year 9 months 18 days
Weighted Average Remaining Contractual Life, Issued		2 years 9 months 18 days
Weighted Average Remaining Contractual Life, Exercisable	2 years 4 months 24 days	2 years 4 months 24 days

Stockholders equity (Details Na

Stockholders equity (Details Narrative) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	6 Months Ended
	Feb. 25, 2022	Dec. 17, 2021	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Apr. 20, 2022	Dec. 08, 2020
Preferred Stock, Shares Authorized			20,000,000		20,000,000
Common Stock, Issued			212,899,281		206,844,580
Preferred Stock, Par Value			$ 0.0001		$ 0.0001
Outstanding warrants to purchase Common Stock			11,800,000
Derivative liability			$ 40.4
Deemed dividend amount			$ 32.8
Private Placement [Member]
Stock price per share							$ 0.25
Private Placement Agreement for the purchase of aggregate price							$ 2.5
Common Stock, Issued							8,700,000
Aggregate purchase price							$ 2.2
Series D Preferred Stock [Member]
Preferred shares issued			1,177,023		1,177,023
Conversion Price Per Shares			$ 0.4248
Preferred stock outstanding			1,177,023		1,177,023
Preferred Stock, Conversion Basis			The Series D liquidation preference is equal to $10.6191 per share
Dividend fixed annual rate			2.25%
Liquidation Preference share			$ 0.23893
Series C preferred stock
Preferred shares issued			6,226,370		6,226,370
Preferred stock outstanding			6,226,370		6,226,370
Series C preferred stock | Island Capital Group LLC
Preferred shares issued			6,226,370		6,226,370
Issuance shares of common stock	3,856,000
Preferred stock outstanding			6,226,370		6,226,370
Aggregate face value preferred stock	$ 12.1
Aggregate purchase price	$ 10.8
Series E Preferred Stock [Member]
Common Stock, Issued			4,400,000
Outstanding warrants to purchase Common Stock			11,800,000
Preferred shares issued			3,200,000
Conversion Price Per Shares			$ 0.50
Series D Convertible Preferred Stock | Arena Investors LP [Member]
Preferred shares issued			1,177,023		1,177,023
Convertible Notes Principal				$ 12.5
Unamortized discount				$ 4.3
Preferred Stock Series C [Member]
Preferred shares issued			6,226,370		6,226,370
Conversion Price Per Shares			$ 3.125
Preferred stock outstanding			6,226,370		6,226,370
Cumulative dividends, per annum			6%
Preferred Stock Series C [Member] | Arena Investors LP [Member]
Issuance shares of common stock		2,370,370
Issued of warrants		2,370,370
Aggregate face value preferred stock		$ 7.4
Aggregate purchase price		$ 6.7
Common Stocks [Member]
Common Stock, Issued						1,428,575
Number of shares of common stock						2,000,000
Common Stock, Per share						$ 8.50
Aggregate Purchase price of Common share						$ 10

Stockbased compensation (Detail

Stockbased compensation (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Shares
RSUs outstanding, Beginning balance | shares	49,576
Options Granted | shares	5,430
Options Exercised | shares	(75)
RSUs Cancelled | shares	(3,449)
RSUs outstanding, Ending balance | shares	51,482
Options Exercisable | shares	30,402
Vested And Expected Vest, Shares | shares	51,482
Weighted Average Exercise Price
Weighted average grant date fair value, Ending balance | $ / shares	$ 1.93
Weighted average grant date fair value, Beginning balance | $ / shares	2.07
Options Granted | $ / shares	1.09
Options Exercised | $ / shares	(0.55)
Options Cancelled | $ / shares	(2.70)
Options Exercisable | $ / shares	1.74
Vested And Expected Vest, Weighted Average Exercise Price | $ / shares	$ 1.93
Intrinsic Value
Intrinsic Value, Options outstanding, Ending balance | $	$ 9,223
Intrinsic Value, Options Exercisable, Ending balance | $	6,834
Vested And Expected Vest, Intrinsic Value | $	$ 9,223
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term, Options outstanding	4 years 4 months 9 days
Weighted Average Remaining Contractual Term, Options exercisable	3 years 5 months 23 days
Weighted Average Remaining Contractual Term, Vested And Expected To Vest	4 years 4 months 9 days

Stockbased compensation (Deta_2

Stockbased compensation (Details 1)	3 Months Ended
	Jun. 30, 2023
Stock-based compensation
Weighted risk-free interest rate	3.20%
Weighted-average volatility	58%
Weighted expected dividend yield	0%
Weighted expected term (in years)	5 years 6 months

Stockbased compensation (Deta_3

Stockbased compensation (Details 2) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Weighted average grant date fair value, Ending balance	$ 1.93
Weighted average grant date fair value, Beginning balance	2.07
Weighted average grant date fair value, RSUs granted	1.09
Weighted average grant date fair value, RSUs forfeited	$ 2.70
Restricted stock units [Member]
RSUs outstanding, Beginning balance | shares	405,000
RSUs outstanding, Ending balance | shares	345,000
RSUs granted | shares	40,000
RSUs released | shares	0
RSUs forfeited | shares	(100,000)
Weighted average remaining recognition period in years	3 years 2 months 12 days
Unamortized stock-based compensation expense | $	$ 587
Weighted average grant date fair value, Ending balance	$ 2.11
Weighted average grant date fair value, Beginning balance	2.26
Weighted average grant date fair value, RSUs granted	0.92
Weighted average grant date fair value, RSUs released	0
Weighted average grant date fair value, RSUs forfeited	$ 2.22

Stockbased compensation (Deta_4

Stockbased compensation (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock-based compensation
Cost of sales	$ 301	$ 704	$ 733	$ 1,508
General and administrative	1,350	2,704	3,110	5,569
Salaries and related benefits	3,313	3,815	7,023	7,570
Stock-based compensation	4,964	7,223	10,866	14,647
Income tax benefit (1)	96	19	157	683
After-tax stock-based compensation expense	$ 4,868	$ 7,204	$ 10,709	$ 13,964

Stockbased compensation (Deta_5

Stockbased compensation (Details Narrative) - USD ($) $ / shares in Units, shares in Thousands		3 Months Ended		6 Months Ended
	Nov. 01, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Non-qualified stock options, granted				5,430
Non-qualified stock options [Member]
Non-qualified stock options, granted	10,500
Exercise price	$ 0.55
Vest period	3 years
Non-qualified stock options, contractual term	10 years
Stock options, valuation	$ 0.51
Stock Options [Member]
Weighted-average grant date fair value of all options granted		$ 59		$ 66
Intrinsic Value		0	$ 100,000	100,000	$ 100,000
Unrecognized stock-based compensation cost		$ 27,700,000		$ 27,700,000
Weighted-average period				1 year 8 months 12 days
2020 Omnibus Equity Incentive Plan [Member]
Remaining shares available for issuance		32,700		32,700
Shares available for issuance				75,000

Commitments contingencies and_2

Commitments contingencies and concentration risk (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Federal Deposit Insurance Corporation		$ 250,000
One Customer [Member] | Account Receivable [Member]
Concentration Of Credit Risk		10%
One Customer [Member] | Revenues [Member]
Concentration Of Credit Risk		10%
Aggregate Accounted Credit Risk Percentage		24%
Three Customer [Member] | Revenue [Member]
Concentration Of Credit Risk	10%
Concentration Risk %	32%		27%
Three Customer [Member] | Account Receivable [Member]
Concentration Of Credit Risk				10%
Aggregate Accounted Credit Risk Percentage				46%

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income taxes
Income (loss) Before Income Tax Benefit	$ (8,604)	$ (17,115)	$ (17,706)	$ (28,514)
Income tax (expense) benefit	$ (242)	$ (45)	$ (352)	$ 1,328
Effective Tax Rate	2.80%	0.30%	2%	4.70%

Net income (loss) per share (De

Net income (loss) per share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive securities were excluded from the calculation	86,047,000	145,835,000	88,081,000	140,809,000
Preferred Stock [Member]
Antidilutive securities were excluded from the calculation	23,157,000	21,613,000	21,655,000	18,051,000
Equity Option [Member]
Antidilutive securities were excluded from the calculation	52,212,000	49,868,000	51,336,000	48,221,000
Convertible Notes Payable [Member]
Antidilutive securities were excluded from the calculation	0	49,996	0	50,245
Warrants
Antidilutive securities were excluded from the calculation	10,303,000	24,231,000	13,956,000	24,108,000
Restricted stock units [Member]
Antidilutive securities were excluded from the calculation	375,000	127	390	184
Contingently issuable shares [Member]
Antidilutive securities were excluded from the calculation	0	0	744	0

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] $ / shares in Units, $ in Millions	Aug. 11, 2023 USD ($) $ / shares shares
Greenspeed Entergy Solutions, LLC
Cash paid for Aquisition of company	$ 6
Acquisition of company	15
Equity consideration of Acquisition	$ 2
Description of Acquisition	performance-based earn out over the next two years of up to $7.0 million
KORR Value, L.P
Purchase of common stock	$ 5
Common stock purchase price | $ / shares	$ 1
Purchase of warrant | shares	1,000,000
Warrant exercise price | $ / shares	$ 1.50