v3.26.1
REVENUES IN EXCESS OF BILLINGS – LONG TERM
 9 Months Ended
Mar. 31, 2026
Contractors [Abstract]  
REVENUES IN EXCESS OF BILLINGS – LONG TERM

NOTE 8 – REVENUES IN EXCESS OF BILLINGS – LONG TERM

 

Revenues in excess of billings, net consisted of the following:

 

   As of   As of 
   March 31, 2026   June 30, 2025 
         
Revenues in excess of billings - long term  $3,244,727   $1,111,803 
Present value discount   (420,429)   (208,037)
Net Balance  $2,824,298   $903,766 

 

Pursuant to revenue recognition for contract accounting, the Company has recorded revenues in excess of billings long-term for amounts billable after one year. During the three and nine months ended March 31, 2026, the Company accreted $12,504 and $49,822, respectively, which were recorded in interest income for that period. During the three and nine months ended March 31, 2025, the Company accreted $18,099 and $54,833, respectively, which were recorded in interest income for that period. The Company used the discounted cash flow method with interest rates ranging from 4.5% to 6.6%, for the period ended March 31, 2026. The Company used the discounted cash flow method with interest rates ranging from 4.2% to 17.5%, for the period ended June 30, 2025.