| SCHEDULE OF CONTRACT ASSETS AND LIABILITIES |
The
following is a summary of the Company’s uncompleted contracts:
SCHEDULE OF CONTRACT ASSETS AND LIABILITIES
| | |
June
30, 2026 | | |
September
30, 2025 | |
| Costs incurred on uncompleted contracts | |
$ | 24,096,533 | | |
$ | 10,344,923 | |
| Estimated gross profit | |
| 8,086,942 | | |
| 4,025,531 | |
| | |
| 32,183,475 | | |
| 14,370,454 | |
| Applicable billings to
date | |
| (33,044,776 | ) | |
| (15,045,345 | ) |
| Net
billings in excess of costs | |
$ | (861,301 | ) | |
$ | (674,891 | ) |
|
| SUMMARY OF CONTRACT ASSETS AND CONTACT LIABILITIES |
SUMMARY OF CONTRACT ASSETS AND CONTACT LIABILITIES
| | |
June
30, 2026 | | |
June
30, 2025 | | |
June
30, 2026 | | |
June
30, 2025 | |
| | |
For
the three months ended | | |
For
the nine months ended | |
| | |
June
30, 2026 | | |
June
30, 2025 | | |
June
30, 2026 | | |
June
30, 2025 | |
| Costs
and Estimated Earnings in Excess of Billings on Uncompleted Contracts | |
| | | |
| | | |
| | | |
| | |
| Contract asset,
beginning balance | |
$ | 2,208,539 | | |
$ | 1,156,620 | | |
$ | 980,164 | | |
$ | 985,207 | |
| Changes in revenue billed,
contract price or cost estimates | |
| (549,382 | ) | |
| (558,469 | ) | |
| 17,138 | | |
| (387,056 | ) |
| Contract
assets acquired in acquisition | |
| - | | |
| - | | |
| 661,855 | | |
| - | |
| Contract
asset, net, ending balance | |
$ | 1,659,157 | | |
$ | 598,151 | | |
$ | 1,659,157 | | |
$ | 598,151 | |
| Billings
in Excess of Costs and Estimated Earnings on Uncompleted Contracts | |
| | | |
| | | |
| | | |
| | |
| Contract liability, beginning
balance | |
| (2,500,328 | ) | |
$ | (1,924,425 | ) | |
| (1,655,055 | ) | |
$ | (1,254,204 | ) |
| Changes in revenue billed,
contract price or cost estimates | |
| (20,130 | ) | |
| (785,165 | ) | |
| (180,922 | ) | |
| (1,455,386 | ) |
| Contract
liabilities acquired in acquisition | |
| - | | |
| - | | |
| (684,481 | ) | |
| - | |
| Contract
liability, ending balance | |
$ | (2,520,458 | ) | |
$ | (2,709,590 | ) | |
$ | (2,520,458 | ) | |
$ | (2,709,590 | ) |
| Net
Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts | |
| | | |
| | | |
| | | |
| | |
| Net billings in excess
of costs, beginning balance | |
$ | (291,789 | ) | |
$ | (767,805 | ) | |
$ | (674,891 | ) | |
$ | (268,997 | ) |
| Changes in revenue billed,
contract price or cost estimates | |
| (569,512 | ) | |
| (1,343,634 | ) | |
| (163,784 | ) | |
| (1,842,442 | ) |
| Net
billings in excess of costs acquired in acquisition | |
| - | | |
| - | | |
| (22,626 | ) | |
| - | |
| Net
(earnings in excess of billings)/costs in excess of billings, ending balance | |
$ | (861,301 | ) | |
$ | (2,111,439 | ) | |
$ | (861,301 | ) | |
$ | (2,111,439 | ) |
|