v3.25.2
CONTRACT ASSETS INCLUDING RETAINAGE, NET
6 Months Ended
Jun. 30, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
CONTRACT ASSETS INCLUDING RETAINAGE, NET

 

NOTE 5 CONTRACT ASSETS INCLUDING RETAINAGE, NET

 

Contract assets including retainage, net consisted of the following as of June 30, 2025 and December 31, 2024: 

          
   June 30, 2025   December 31, 2024 
Contract assets (Note 6)  $193,404   $193,404 
Retainage   108,098    108,098 
Less: provision for credit losses        
Contract assets including retainage, net  $301,502   $301,502 

 

Retainage receivables have been billed and the Company has an unconditional right to receive payment, but are not due until satisfactory contract completion and acceptance by the customer.