v3.25.1
Accounts Receivable
3 Months Ended
Mar. 31, 2025
Accounts Receivable Net Current [Abstract]  
Accounts Receivable

NOTE 4 -ACCOUNTS RECEIVABLE

Accounts receivable, net consisted of the following for the periods indicated:

 

 

 

March 31,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Accounts receivable

 

$

7,381,000

 

 

$

8,310,178

 

Less: allowance for credit losses

 

 

(135,017

)

 

 

(132,807

)

 

 

$

7,245,983

 

 

$

8,177,371

 

 

Provision for bad debt expense related to accounts receivable was $100 and $0 for the three month periods ended March 31, 2025 and 2024, respectively.

 

The following tables represent the changes in the allowance for credit losses associated with our trade receivables for the three month periods ended March 31, 2025 and 2024.

 

 

 

For the Three Months Ended March 31,

 

Allowance for Credit Losses

 

2025

 

 

2024

 

Balance on January 1,

 

$

(132,807

)

 

$

(50,032

)

Provision charged to expense

 

 

-

 

 

 

-

 

Receivables written-off

 

 

100

 

 

 

-

 

Recoveries of receivables previously written-off

 

 

-

 

 

 

-

 

Effects of change in exchange rates

 

 

(2,310

)

 

 

228

 

 

 

$

(135,017

)

 

$

(49,804

)