v3.26.1
Contract Billing Status
 6 Months Ended
Jun. 30, 2026
Contract Billing Status [Abstract]  
CONTRACT BILLING STATUS

NOTE 6: CONTRACT BILLING STATUS

 

The status of contract billings on uncompleted contracts was as follows at June 30, 2026. These amounts are cumulative from contract inception on contracts in process at the balance sheet date, including periods prior to our April 1, 2026 acquisition of TRINITY. The Company applies ASU 2021-08 in accounting for these contracts.

 

    Costs incurred     Gross profit     Earned revenue     Margin  
Through March 31, 2026 (pre-acquisition)   $ 664,206,623     $ 27,859,742     $ 692,084,667       4.03 %
Three months ended June 30, 2026     347,054,830       22,115,418       369,170,248       5.99 %
Inception to date   $ 1,011,261,453     $ 49,975,160     $ 1,061,254,915       4.71 %

 

The net amounts are included in the accompanying balance sheets under the following captions:

 

    Contract
assets		     Contract
liabilities		     Net  
Recognized at acquisition, April 1, 2026   $ 3,528,138     $ (17,203,905 )   $ (13,675,767 )
Change, April 1 – June 30, 2026     3,033,223       4,353,864       7,387,087  
Balance, June 30, 2026   $ 6,561,361     $ (12,850,041 )   $ (6,288,680 )

 

We estimate that our RUPO will be satisfied over the following periods:

 

    June 30,
2026		  
Within 1 year   $ 732,761,025  
1 to 2 years     50,000,000  
Thereafter     -  
Total RUPO   $ 782,761,025