The Group derives revenue from the transfer of goods and services over time and at a point in time in the following major products lines and all revenue took place mainly in Asia and MENA regions:

The Group has recognized the following revenue-related contract assets and liabilities:

As of January 1, 2023, the balance of contract assets and liabilities relating to service contract was $725,441 and $58,475, respectively.

Revenue recognized that was included in the contract liability balance at the beginning of the year:

Unbilled receivables increased during the years ended December 31, 2024 and 2023, primarily due to the progress of projects towards completion of contract activities. For the year ended December 31, 2024, contract assets decreased primarily due to exchange losses resulting from the one-off sharp depreciation of the Egyptian pound against the U.S. dollar, as well as billings made upon the achievement of billing milestones, at which point the related amounts were reclassified to trade receivables.

Aggregate amount of the transaction price allocated to long-term service contracts that are partially or fully unsatisfied as of December 31, 2024 and 2023, amounting to $170,913,623 and $241,795,928, respectively based on the currency conversion rate as of December 31, 2024 and 2023, respectively. During the year ended December 31, 2023, the Company entered into a significant firm-fixed price contract for building a secure governmental air-gapped network for the Government of Egypt (“GoE”) (“Egypt Contract”), denominated in EGP, includes revenues of approximately EGP 8.4 billion.

Management expects that the transaction price allocated to the unsatisfied contracts as of December 31, 2024 and 2023, will be recognized as revenue from 2025 to 2027 and from year 2024 to 2027, respectively. Except for the above mentioned contracts, all other service contracts are for periods of one year or less or are billed based on the amount of time incurred.