Quarterly report [Sections 13 or 15(d)]

UNCOMPLETED CONTRACTS

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UNCOMPLETED CONTRACTS
 6 Months Ended
Jun. 30, 2025
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 – UNCOMPLETED CONTRACTS

 

Costs, estimated earnings and billings on uncompleted contracts are as follows:

 

    June 30,     December 31,  
    2025     2024  
    (unaudited)     *  
Revenue recognized   $ 526,200     $ -  
Less: billings to date     (495,300 )     -  
                 
Contract assets     30,900       -  
                 
Billings to date     4,095,300       3,481,700  
Revenue recognized     (3,144,600 )     (2,352,100 )
                 
Contract liabilities   $ 950,700     $ 1,129,600  

 

* These numbers are derived from the audited financial statements for the year ended December 31, 2024.