v3.25.1
Revenue (Tables)
12 Months Ended
Dec. 31, 2024
Receivables from contracts with customers [abstract]  
Schedule of Revenue from Contracts with Customers
   Year ended   Year ended   Year ended 
   December 31,
2024
   December 31,
2023
   December 31,
2022
 
Revenue from contracts with customers            
Hardware sales            
-Video IoT  $
-
   $
-
   $1,064,037 
-Security Convergence   
-
    62,363    4,472,125 
Software sales               
-Video IoT   15,361    87,306    1,824,854 
-Security Convergence   
-
    
-
    2,761,988 
Service revenue               
-Video IoT   2,763,050    2,818,014    6,809,496 
-Security Convergence   71,895,619    61,727,308    5,476,308 
   $74,674,030   $64,694,991   $22,408,808 
Schedule of Revenue from the Transfer of Goods and Services

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:

 

Year ended December 31, 2024  Hardware   Software   Service   Total 
Total revenue streams  $1,926   $15,361   $104,465,754   $104,483,041 
Inter-revenue streams   (1,926)   
-
    (29,807,085)   (29,809,011)
Revenue from external                    
customer contracts  $
-
   $15,361   $74,658,669   $74,674,030 
Timing of revenue recognition                    
At a point in time  $
-
   $15,361   $
-
   $15,361 
Over time   
-
    
-
    74,658,669    74,658,669 
   $
-
   $15,361   $74,658,669   $74,674,030 

 

Year ended December 31, 2023  Hardware   Software   Service   Total 
Total revenue streams  $101,702   $173,123   $76,157,234   $76,432,059 
Inter-revenue streams   (39,339)   (85,817)   (11,611,912)   (11,737,068)
Revenue from external                    
customer contracts  $62,363   $87,306   $64,545,322   $64,694,991 
Timing of revenue recognition                    
At a point in time  $62,363   $87,306   $
-
   $149,669 
Over time   
-
    
-
    64,545,322    64,545,322 
   $62,363   $87,306   $64,545,322   $64,694,991 

 

Year ended December 31, 2022  Hardware   Software   Service   Total 
Total revenue streams  $5,690,577   $4,586,842   $13,107,708   $23,385,127 
Inter-revenue streams   (154,415)   
-
    (821,904)   (976,319)
Revenue from external                    
customer contracts  $5,536,162   $4,586,842   $12,285,804   $22,408,808 
Timing of revenue recognition                    
At a point in time  $5,536,162   $4,586,842   $
-
   $10,123,004 
Over time   
-
    
-
    12,285,804    12,285,804 
   $5,536,162   $4,586,842   $12,285,804   $22,408,808 
Schedule of Revenue-Related Contract Assets and Liabilities

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

 

   December 31,
2024
   December 31,
2023
 
Contract assets:        
Unbilled receivables relating to service contracts  $34,306,195   $34,213,379 
Contract liabilities:          
Contract liabilities relating to service contracts  $273,227   $107,603 
Schedule of Revenue Recognized that was Included in the Contract Liabilities Balance

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

 

   Year ended
December 31,
2024
   Year ended
December 31,
2023
 
           
Service revenue  $53,769   $58,475