| CONTRACT REVENUES AND CONTRACT COSTS |
NOTE 15 – CONTRACT REVENUES AND CONTRACT
COSTS
The Company’s main business operations
are: (i) low voltage (220v/phase 1 or 380v/phase 3) electrical systems; (ii) mechanical ventilation and air-conditioning systems (“MVAC”);
(iii) out-fitting; (iv) others: water supply and sewage disposal systems installation; and fire safety systems.
SCHEDULE OF CONTRACT REVENUES AND CONTRACT COSTS
| Total contract revenues as of | |
2024 | | |
2023 | | |
2022 | |
| | |
For the years ended December 31, | |
| Total contract revenues | |
2024 | | |
2023 | | |
2022 | |
| Low voltage electrical system | |
$ | 2,459,282 | | |
$ | 3,832,334 | | |
$ | 1,028,162 | |
| MVAC systems | |
| 14,192 | | |
| 328,373 | | |
| 502,556 | |
| Out-fitting | |
| 1,120,029 | | |
| 2,594,828 | | |
| 1,998,726 | |
| Others | |
| 358,146 | | |
| 70,344 | | |
| 640,487 | |
| Total Contract Revenues | |
$ | 3,951,649 | | |
$ | 6,825,879 | | |
$ | 4,169,931 | |
| Total contract costs as of | |
2024 | | |
2023 | | |
2022 | |
| | |
For the years ended December 31, | |
| Total contract costs | |
2024 | | |
2023 | | |
2022 | |
| Low voltage electrical system | |
$ | 2,951,728 | | |
$ | 3,309,315 | | |
$ | 898,100 | |
| MVAC systems | |
| 9,717 | | |
| 240,158 | | |
| 462,400 | |
| Out-fitting | |
| 531,069 | | |
| 794,573 | | |
| 1,562,551 | |
| Others | |
| 46,964 | | |
| 41,233 | | |
| 461,176 | |
| Total Contract Costs | |
$ | 3,539,478 | | |
$ | 4,385,279 | | |
$ | 3,384,227 | |
|