| Schedule of Contract Assets on Uncompleted Contracts |
At September 30, 2019 and December 31, 2018, contract assets on uncompleted contracts consisted of the following:
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September 30,
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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15,063,602
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$
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4,273,057
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Less: Billings or cash received
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(13,477,464
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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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1,586,138
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$
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1,208,604
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| Schedule of Contract Liabilities on Uncompleted Contracts |
At September 30, 2019 and December 31, 2018, contract liabilities on uncompleted contracts consisted of the following:
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September 30,
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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2,665,570
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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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(1,557,828
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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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1,107,742
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$
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2,248,829
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| Schedule of Disaggregation of Revenue Quantitative |
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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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6,039,521
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$
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317,222
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$
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76,586
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$
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147,011
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$
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1,075,274
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$
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240,673
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$
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7,896,287
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Major Goods and Service Lines
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Turnkey Projects
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$
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5,433,356
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$
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315,025
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$
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53,169
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$
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86,348
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$
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1,066,164
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$
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$
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6,954,062
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Maintenance & Support
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606,165
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2,197
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23,417
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60,663
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9,110
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701,552
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Data Center Auditing Services
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198,838
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198,838
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Software License
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41,835
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41,835
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$
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6,039,521
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$
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317,222
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$
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76,586
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$
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147,011
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$
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1,075,274
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$
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240,673
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$
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7,896,287
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Timing of Revenue Recognition
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Goods transferred over time
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$
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5,433,356
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$
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315,025
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$
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53,169
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$
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86,348
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$
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1,066,164
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$
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240,673
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$
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7,194,735
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Services transferred over time
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606,165
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2,197
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23,417
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60,663
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9,110
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701,552
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$
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6,039,521
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$
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317,222
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$
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76,586
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$
|
147,011
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$
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1,075,274
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$
|
240,673
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$
|
7,896,287 |
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