Construction Backlog

3 Months Ended

Mar. 31, 2026

7. CONSTRUCTION BACKLOG

The following represents the backlog of signed construction and engineering contracts in existence at March 31, 2026 and December 31, 2025, which represents the amount of revenue the Company expects to realize from work to be performed on uncompleted contracts in progress and from contractual agreements in effect at such dates on which work has not yet begun:

	Three Months Ended March 31, 2026			Year Ended December 31, 2025
Balance - beginning of period	$	271,128		$	1,182,955
New contracts and change orders during the period		1,109,456			1,199,839
Subtotal		1,380,584			2,382,794
Less: contract revenue earned during the period		(100,740	)		(2,111,666	)
Balance - end of period	$	1,279,844		$	271,128

The Company’s remaining backlog as of March 31, 2026 represents the remaining transaction price of firm contracts for which work has not been performed and excludes unexercised contract options.

The Company expects to satisfy its backlog, which represents the remaining unsatisfied performance obligation on contracts as of March 31, 2026, within one year. The Company has elected the practical expedient that allows it to omit disclosure of remaining performance obligations for contracts with an original expected duration of one year or less.

Although backlog reflects business that is considered to be firm, cancellations, deferrals or scope adjustments may occur. Backlog is adjusted to reflect any known project cancellations, revisions to project scope and cost and project deferrals, as appropriate.