Annual report pursuant to Section 13 and 15(d)

REVENUES AND CONTRACT ACCOUNTING (Tables)

v3.24.1
REVENUES AND CONTRACT ACCOUNTING (Tables)
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of contract assets on uncompleted contracts
           
    2023     2022  
Cumulative revenues recognized   $ 8,820,256     $ 5,934,205  
Less: Billings or cash received     (8,178,309 )     (5,508,483 )
Contract Assets   $ 641,947     $ 425,722  
Schedule of contract liabilities on uncompleted contracts
           
    2023     2022  
Billings and/or cash receipts on uncompleted contracts   $ 1,264,658     $ 4,355,470  
Less: Cumulative revenues     (199,976 )     (4,144,018 )
Contract liabilities, technology systems   $ 1,064,682     $ 211,452  
Contract Liabilities, services and consulting     601,561       746,545  
Total Contract Liabilities   $ 1,666,243     $ 957,997  
Schedule of disaggregation of revenue
                       
Segments   Rail     Commercial     Government   Artificial
Intelligence		   Total
Primary Geographical Markets                                  
North America   $ 6,261,748     $ 78,575     $ 11,353   $ 1,119,522     $7,471,198
                                   
Major Goods and Service Lines                                  
Turnkey Projects   $ 3,616,334     $ 1,694     $ —   $ —     $3,618,028
Maintenance & Support     2,645,414       76,881       11,353     —     2,733,648
Data Center Auditing Services     —       —       —     —     —
Software License     —       —       —     —     —
Algorithms     —       —       —     1,119,522     1,119,522
    $ 6,261,748     $ 78,575     $ 11,353   $ 1,119,522     $7,471,198
                                   
Timing of Revenue Recognition                                  
Goods transferred over time   $ 3,616,334     $ 1,694     $ —   $ —     $3,218,028
Services transferred over time     2,645,414       76,881       11,353     1,119,522     3,853,170
    $ 6,261,748     $ 78,575     $ 11,353   $ 1,119,522     $7,471,198

 

Quantitative:

 

For the Year Ended December 31, 2022

 

Segments   Rail     Commercial     Government     Artificial
Intelligence		     Total  
Primary Geographical Markets                              
North America   $ 13,710,777     $ 115,443     $ 237,414     $ 948,732     $ 15,012,366  
                                         
Major Goods and Service Lines                                        
Turnkey Projects   $ 10,789,693     $ 9,297     $ 156,530     $ 234,772     $ 11,190,292  
Maintenance & Support     2,921,084       106,146       80,884       —       3,108,114  
Data Center Auditing Services     —       —       —       —       —  
Software License     —       —       —       —       —  
Algorithms     —       —       —       713,960       713,960  
    $ 13,710,777     $ 115,443     $ 237,414     $ 948,732     $ 15,012,366  
                                         
Timing of Revenue Recognition                                        
Goods transferred over time   $ 10,789,693     $ 9,297     $ 156,530     $ 234,772     $ 11,190,292  
Services transferred over time     2,921,084       106,146       80,884       713,960       3,822,074  
    $ 13,710,777     $ 115,443     $ 237,414     $ 948,732     $ 15,012,366