Related Party Transactions |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions | Note 10. Related Party Transactions
Revenue and Accounts Receivable
The Company recognized revenue of $51,911 and $569,953 for the three months ended June 30, 2026 and 2025, $161,128 and $647,743 for the six months ended June 30, 2026 and 2025 and accounts receivable of $1,202,495 and $1,727,939, contract asset of $441,222 and $209,673 and contract liability of $247,114 and $0 as of June 30, 2026 and December 31, 2025, respectively, from contracts entered into by CTC, a principal stockholder, and subcontracted to the Company for four customers. Accounts receivable of $1,202,495 is scheduled to be paid off by December 31, 2026.
Accounts Payable
As of June 30, 2026 and December 31, 2025, the Company owed $123,598 and $876,007, respectively, to related parties, of which $0 and $527,476, respectively, relates to advances from CTC, which are unsecured, due on demand, and non-interest-bearing, and of which $0 and $75,006, respectively, relates to Q2 2026 and Q4 2025 Board of Director compensation payments.
Cost of Revenue and professional service agreement
A Professional Services Agreement, effective November 15, 2021, was made, between the Company and CTC. The period of performance for this Agreement was December 1, 2021, through November 30, 2022. The agreement was amended and the term of agreement was extended to June 30, 2028.
During the three and six months ended June 30, 2026 and 2025, the Company recorded cost of revenue and professional services to CTC as follows;
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