As
of June 30, 2026 and December 31, 2025, contract assets and contract liabilities consisted of the following:
Schedule of Contract Assets and Liabilities
| | |
June 30, | | |
December 31, | |
| Contract assets | |
2026 | | |
2025 | |
| | |
| | |
| |
| Revenue recognized in excess of amounts paid or payable (contracts receivable) to the company on uncompleted contracts (contract asset) that are subject to restrictions on invoicing, excluding retainage | |
$ | 55,606 | | |
$ | 322,773 | |
| Revenue recognized in excess of amounts paid or payable (contracts receivable) to the company on uncompleted contracts (contract asset) that are subject to restrictions on invoicing, excluding retainage – related party | |
| 194,108 | | |
| 209,673 | |
| Retainage included in contract assets due to being conditional on something other than solely passage of time – related party | |
| 247,114 | | |
| - | |
| Total contract assets | |
$ | 496,828 | | |
$ | 532,446 | |
| | |
June 30, | | |
December 31, | |
| Contract liabilities | |
2026 | | |
2025 | |
| | |
| | |
| |
| Payments received or receivable (contracts receivable) in excess of revenue recognized on uncompleted contracts (contract liability), excluding retainage | |
$ | 181,299 | | |
$ | 186,537 | |
| Payments received or receivable (contracts receivable) in excess of revenue recognized on uncompleted contracts (contract liability), excluding retainage – related party | |
$ | 28,292 | | |
$ | - | |
| Retainage included in contract liabilities due to being conditional on something other than solely passage of time – related party | |
| 218,822 | | |
| - | |
| Total contract liabilities | |
$ | 428,413 | | |
$ | 186,537 | |
|