| Schedule of Contract Assets on Uncompleted Contracts |
At March 31, 2019 and December 31, 2018, contract assets on uncompleted contracts consisted of the following:
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March 31,
2019
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December 31. 2018
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Costs and estimated earnings recognized
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$
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3,176,717
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$
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4,273,057
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Less: Billings or cash received
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(2,889,721
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)
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(3,064,453
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)
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Contract assets
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$
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286,996
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$
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1,208,604
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| Schedule of Contract Liabilities on Uncompleted Contracts |
At March 31, 2019 and December 31, 2018, contract liabilities on uncompleted contracts consisted of the following:
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March 31,
2019
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December 31. 2018
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Billings and/or cash receipts on uncompleted contracts
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$
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12,039,832
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$
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8,563,241
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Less: Costs and estimated earnings recognized
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(10,790,051
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)
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(6,314,412
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)
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Contract liabilities
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$
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1,249,781
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$
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2,248,829
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| Schedule of Disaggregation of Revenue Quantitative |
Quantitative:
For the Three Months Ended March 31, 2019
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Segments
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Rail
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Commercial
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Petrochemical
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Government
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Banking
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IT Suppliers
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Total
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Primary Geographical Markets
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North America
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$
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3,671,797
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$
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19,922
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$
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34,353
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$
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43,493
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$
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470,347
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$
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112,169
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$
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4,352,081
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Major Goods and Service Lines
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Turnkey Projects
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$
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3,389,656
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$
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(29,884)
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$
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26,547
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$
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23,272
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$
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461,237
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$
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$
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3,870,828
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Maintenance & Support
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282,141
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49,806
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7,806
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20,221
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9,110
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369,084
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Data Center Auditing Services
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64,769
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64,769
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Software License
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47,400
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47,400
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$
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3,671,797
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$
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19,922
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$
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34,353
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$
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43,493
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$
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470,347
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$
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112,169
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$
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4,352,081
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Timing of Revenue Recognition
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Goods transferred over time
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$
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3,389,656
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$
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(29,884)
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$
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26,547
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$
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23,272
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$
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461,237
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$
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112,169
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$
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3,982,997
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Services transferred over time
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282,141
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49,806
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7,806
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20,221
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9,110
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369,084
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$
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3,671,797
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$
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19,922
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$
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34,353
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$
|
43,493
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$
|
470,347
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$
|
112,169
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$
|
4,352,081
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