ACCOUNTS AND NOTES RECEIVABLE |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCOUNTS AND NOTES RECEIVABLE | NOTE 3 – ACCOUNTS AND NOTES RECEIVABLE
Our Accounts Receivable is pledged to Nations Interbanc, our line of credit.
Management considered the requirements of ASC 326 and evaluated the collectability of the related-party receivable as of December 31, 2025. While a significant portion of the receivable balance relates to VRG and other related-party amounts, management concluded that an allowance was not required based on the specific facts and circumstances existing at year-end.
The receivable primarily relates to project development activities associated with the VRG project. Management’s assessment considered the underlying economics of the project, contractual rights, expected sources of capital, project-level financing alternatives, potential strategic investors, anticipated future funding arrangements, and the overall recoverability of the amounts advanced. Based on these factors, management believes the receivable is recoverable and that an allowance for expected credit losses was not warranted as of December 31, 2025.
The Company is currently modifying the assets subject to lease to meet the provisions of the agreement, and as of December 31, 2025 any collection on the lease payments was not yet considered probable, resulting in no derecognition of the underlying asset and no net lease investments recognized on the sales-type lease pursuant to ASC 842-30-25-3.
On a contract-by-contract basis or in response to certain situations or installation difficulties, the Company may elect to allow non-interest bearing repayments in excess of 1 year.
Our long - term financing Receivable are pledged to Nations Interbanc, our line of credit.
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