Description of business and summary of significant accounting policies (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of related Party and Non-related Party Revenue |
A
breakdown of the total revenue between related party and non-related party revenue is as follows:
Schedule
of related Party and Non-related Party Revenue
| | |
2025 | | |
2024 | |
| Revenues | |
$ | 6,879,759 | | |
$ | 7,603,378 | |
| Revenues - related parties | |
| 636,928 | | |
| 566,291 | |
| Total Revenues | |
$ | 7,516,687 | | |
$ | 8,169,669 | |
|
| Schedule of Related Party and Non-related Party Cost of Revenue |
The
breakdown of cost of sales to include cost of sales for related party and non-related party as well as the related party and non-related
party royalty expense is as follows:
Schedule
of Related Party and Non-related Party Cost of Revenue
| | |
2025 | | |
2024 | |
| Cost of revenues | |
$ | 4,302,597 | | |
$ | 4,461,167 | |
| Cost of revenues - related parties | |
| 265,398 | | |
| 227,668 | |
| Cost of revenues | |
| 265,398 | | |
| 227,668 | |
| | |
| | | |
| | |
| Royalty expense - related parties | |
| 44,497 | | |
| 51,256 | |
| Royalty expense | |
| 92,847 | | |
| 125,159 | |
| Total cost of revenues | |
$ | 4,705,339 | | |
$ | 4,865,250 | |
|
| Schedule of Supplemental Balance Sheet Information |
Supplemental
balance sheet information related to leases was as follows:
Schedule
of Supplemental Balance Sheet Information
| Operating Leases | |
Classification | |
December 31, 2025 | | |
December 31, 2024 | |
| Right-of-use assets | |
Operating lease assets | |
$ | 1,200,507 | | |
$ | 1,629,192 | |
| | |
| |
| | | |
| | |
| Current lease liabilities | |
Current operating lease liabilities | |
$ | 484,078 | | |
$ | 394,672 | |
| Non-current lease liabilities | |
Long-term operating lease liabilities | |
| 794,857 | | |
| 1,279,444 | |
| Total lease liabilities | |
| |
$ | 1,278,935 | | |
$ | 1,674,116 | |
|
| Schedule of Operating Lease Liabilities |
Lease
term and discount rate were as follows:
Schedule
of Operating Lease Liabilities
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Weighted average remaining lease term (years) | |
| 2.39 | | |
| 3.43 | |
| Weighted average discount rate | |
| 7.75 | % | |
| 7.63 | % |
|
| Schedule of Lease Cost |
The
components of lease costs were as follows:
Schedule
of Lease Cost
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Operating lease cost | |
$ | 773,006 | | |
$ | 171,292 | |
| Variable lease cost | |
| | | |
| 2,125 | |
| Total lease costs | |
$ | 773,006 | | |
$ | 173,417 | |
|
| Schedule of Cash Flow Information Related to Leases |
Supplemental
disclosures of cash flow information related to leases were as follows:
Schedule
of Cash Flow Information Related to Leases
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Cash paid for operating lease liabilities | |
$ | 499,729 | | |
$ | 468,138 | |
| Operating right of use assets obtained in exchange for operating lease liabilities | |
$ | 1,200,507 | | |
$ | 844,883 | |
|
| Schedule of Maturities of Operating Lease Liabilities |
Maturities
of lease liabilities were as follows as of December 31, 2025:
Schedule
of Maturities of Operating Lease Liabilities
| |
|
Company
Office |
|
|
Submersible
Systems Lease |
|
|
Total
lease |
|
| 2026 |
|
|
335,610 |
|
|
|
222,886 |
|
|
|
558,496 |
|
| 2027 |
|
|
372,000 |
|
|
|
334,623 |
|
|
|
706,623 |
|
| 2028 |
|
|
217,000 |
|
|
|
19,177 |
|
|
|
236,177 |
|
| Thereafter |
|
|
- |
|
|
|
- |
|
|
|
0 |
|
| Total |
|
$ |
924,610 |
|
|
$ |
576,686 |
|
|
$ |
1,501,296 |
|
| Less:
Imputed interest |
|
|
(150,638 |
) |
|
|
(71,723 |
) |
|
|
(222,361 |
) |
| Present
value of lease liabilities |
|
$ |
773,972 |
|
|
$ |
504,963 |
|
|
$ |
1,278,935 |
|
|