v3.25.2
REVENUE
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE

NOTE 7. REVENUE

The Company’s primary revenue-generating activity involves sales of high-powered lasers and related installation services. The Company has sales to customers throughout the U.S., Europe, and Asia. All sales are settled in U.S. dollars.

The following table presents revenue from contracts with customers disaggregated by geography:

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

United States

 

$

—

 

 

$

15,000

 

Asia

 

 

—

 

 

 

1,546

 

Europe

 

 

—

 

 

 

77,003

 

Total

 

$

—

 

 

$

93,549

 

The following table presents revenue from contracts with customers disaggregated by the timing of revenue recognition:

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Revenue recognized at a point in time

 

$

—

 

 

$

78,549

 

Revenue recognized over time

 

 

—

 

 

 

15,000

 

Total

 

$

—

 

 

$

93,549

 

 

Contract liabilities consist of customer deposits that are applied to invoices as the performance obligation is performed. Accounts receivable and contract liabilities were as follows on the dates presented:

 

 

Accounts Receivable

 

 

Contract Liabilities

 

January 1, 2024

 

$

482,279

 

 

$

30,400

 

December 31, 2024

 

 

—

 

 

 

24,000

 

March 31, 2025

 

 

—

 

 

 

24,000

 

During the three months ended March 31, 2025 and 2024, the Company recognized nil and $23,400 of revenue that was included in the contract liabilities balance at the beginning of the reporting period, respectively.