Contract Liability |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Contract Liability [Abstract] | |
| Contract Liability | NOTE 17 - Contract Liability
On March 9, 2015, the Company entered into a 10-year purchase agreement with Klingon Aerospace, Inc. (“Klingon”), which was formerly named as Luxe Electronic Co., Ltd. In accordance with the terms of this agreement, Klingon agreed to purchase from the Company an initial order of onboard equipment comprising an onboard system for a purchase price of $909,000, with payments to be made in accordance with a specific milestones schedule. As of December 31, 2025 and 2024, the Company received $762,000 from Klingon in milestone payments towards the equipment purchase price. As of December 31, 2025, the project remains ongoing, and since the related performance obligations have not yet been fully satisfied, the balance continues to be classified as a contract liability until Klingon’s acceptance. The contract liability represents an advance payment of $762,000 received from Klingon Aerospace under an agreement entered into in 2015. The Company has delivered and installed the ground equipment at the customer’s site; the corresponding satellite was successfully launched on April 29, 2026; the Company is awaiting final customer acceptance upon successful activation of the satellite signal and completion of customary contractual acceptance procedures. As of December 31, 2025, final customer acceptance had yet to be completed; accordingly, the Company had not satisfied all the terms under the contract to meet its performance obligation to recognize revenue. Management is not aware of any disputes, expects the customer acceptance process to be completed within one operating period; therefore, the advance payment continues to be accounted for as an outstanding contract liability. |