Note 7 - Contract Assets and Contract Liabilities

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Contract with Customer, Contract Asset, Contract Liability [Text Block]

NOTE 7– CONTRACT ASSETS AND CONTRACT LIABILITIES

The roll-forward of Contract assets and Contract liabilities for the periods ended March 31, 2026 and December 31, 2025 is as follows:

		*March 31,*				*December 31,*
		*2026*				*2025*
Cost incurred		$	1,641,546			$	1,750,757
VAT			150,717				234,984
Other receivables			76,106				10,826
Prepayments			(1,415,768	)			(1,403,702	)
		$	452,601			$	592,865

Distributed as follows:
Contract assets		$	634,154			$	733,851
Contract liabilities			(181,553	)			(140,986	)
		$	452,601			$	592,865