v3.26.1
CONCENTRATIONS, RISKS AND UNCERTAINTIES
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Risks and Uncertainties [Abstract]    
CONCENTRATIONS, RISKS AND UNCERTAINTIES

16. CONCENTRATIONS, RISKS AND UNCERTAINTIES

 

Credit risk

 

The Company’s primary bank deposits are located in the United States. Those deposits are provided protection under FDIC insurance up to maximum of $250,000. Any deposits in excess of the aforementioned maximum are at risk of loss if those banks become insolvent. The Company is subject to risk borne from credit extended to customers.

 

Interest risk

 

The Company is subject to interest rate risk when its loans become due and require refinancing or if the prime rate adjusts, as the Company’s loans are based on adjustable interest rates.

 

Inflation risk

 

Management monitors changes in prices levels. Historically, inflation has not materially impacted the Company’s financial statements; however, significant increases in the cost of labor that cannot be passed on to the Company’s customers could adversely impact the Company’s results of operations.

 

 

Concentration risks

 

Table 16.1: Revenue Concentration by Customer - Based on % of Revenue

 

   For the Three Months Ended March 31, 
   2026   2025 
Customer  Amount   %   Amount   % 
A  $1,105,481    33.8%  $1,112,572    28.7%
B  $724,822    22.2%  $563,621    14.6%
C  $315,240    9.6%  $487,173    12.6%
D  $229,893    7.0%  $389,280    10.1%

 

Table 16.2: Accounts Receivable Concentration by Customer - Based on % of Accounts Receivable, Net

 

   March 31, 2026   December 31, 2025 
Customer  Amount   %   Amount   % 
1  $1,060,754    31.8%  $768,954    29%
2  $724,821    21.7%  $479,151    18%
3  $275,057    8.2%  $373,236    14%

 

Prior to the Management Services Agreement and a Release agreement with Ed Burns of SLG on March 31, 2025, the Company had combined all SLG customers as one customer for purposes of customer concentration disclosures due to the nature of the relationship. Once the acquisition was complete, the Company has re-evaluated this disclosure to break out all SLG customers individually, therefore the amounts reported above are not comparable to the first quarter of 2025 amounts previously reported.

 

 

18.CONCENTRATIONS, RISKS AND UNCERTAINTIES

 

Credit risk

 

The Company’s primary bank deposits are located in the United States. Those deposits are provided protection under FDIC insurance up to maximum of $250,000. Any deposits in excess of the aforementioned maximum are at risk of loss if those banks become insolvent. The Company is subject to risk borne from credit extended to customers.

 

Interest risk

 

The Company is subject to interest rate risk when its loans become due and require refinancing or if the prime rate adjusts, as the Company’s loans are based on adjustable interest rates.

 

Inflation risk

 

Management monitors changes in prices levels. Historically, inflation has not materially impacted the Company’s financial statements; however, significant increases in the cost of labor that cannot be passed on to the Company’s customers could adversely impact the Company’s results of operations.

 

Concentration risks

 

Table 18.1: Revenue Concentration by Customer - Based on % of Revenue
   For the Year Ended December 31, 
   2025   2024 
Customer  Amount   %   Amount   % 
A  $4,576,315    30.2%  $3,584,564    20.2%
B  $2,504,836    16.6%  $2,167,024    12.2%
C  $1,300,680    8.6%  $2,652,925    14.9%
D  $1,378,738    9.1%  $2,934,031    16.5%

 

Table 18.2: Accounts Receivable Concentration by Customer - Based on % of Accounts Receivable, Net
   December 31, 2025 
Customer  Amount   % 
1  $768,954    29%
2  $479,151    18%
3  $373,236    14%

 

Prior to the Management Services Agreement and a Release agreement with Ed Burns of SLG on March 31, 2025, the Company had combined all SLG customers as one customer for purposes of customer concentration disclosures due to the nature of the relationship. Once the acquisition was complete, the Company has re-evaluated this disclosure to break out all SLG customers individually, therefore the amounts reported above are not comparable to the first quarter of 2025 amounts previously reported. As of December 31, 2024, no individual customer accounts receivable balances were 10% or greater than the total accounts receivable balance.