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Contract Assets and Contract Liabilities
 12 Months Ended
Dec. 31, 2025
Contract Assets and Contract Liabilities [Abstract]  
CONTRACT ASSETS AND CONTRACT LIABILITIES
6. CONTRACT ASSETS AND CONTRACT LIABILITIES 

 

Costs and estimated earnings on uncompleted contracts, which represent contract assets and contract liabilities, consisted of the following:

 

    2025     2024  
Costs incurred on uncompleted contracts   $ 321,479     $ 3,161,295  
Estimated earnings (losses) to date on uncompleted contracts     243,977       (687,903 )
Gross contract assets     565,456       2,473,392  
Less: billings to date     (937,032 )     (3,066,938 )
Net contract liabilities on uncompleted contracts   $ (371,576 )   $ (593,546 )

  

Although management believes it has established adequate procedures for estimating costs to complete on open contracts, it is at least reasonably possible that additional significant costs could occur on contracts prior to completion. The Company periodically evaluates and revises its estimates and makes adjustments when they are considered necessary. During the year ended December 31, 2025, the Company recognized $593,546 of revenue related to it contract liabilities as of December 31, 2024. The above balances are included within ‘contract liabilities and deferred revenue’ on the consolidated balance sheets.