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Accounts Receivable and Significant Concentrations (Tables)
6 Months Ended
Jun. 30, 2020
Schedule of accounts receivable
    JUNE 30,     DECEMBER 31,  
    2020     2019  
    (Unaudited)  
Government (1)   $ 20,319,761     $ 12,604,582  
Commercial (2)     1,889,445       2,102,581  
Gross accounts receivable     22,209,206       14,707,163  
Less: allowances for doubtful                
accounts (3)     116,898       126,235  
                 
Accounts receivable, net   $ 22,092,308     $ 14,580,928  

 

(1) Government contracts are generally firm fixed price not to exceed arrangements with a term of five (5) years, which consists of a base year and four (4) annual option year renewals. Government receivables are billed under a single consolidated monthly invoice and are billed approximately thirty (30) to sixty (60) days in arrears from the date of service and payment is generally due within thirty (30) days of the invoice date. Government accounts receivable payments could be delayed due to administrative processing delays by the government agency, continuing budget resolutions that may delay availability of contract funding, and/or administrative only invoice correction requests by contracting officers that may delay payment processing by our government customer.

 

(2) Commercial contracts are generally fixed price arrangements with contract terms ranging from two (2) to three (3) years. Commercial accounts receivables are billed based on the underlying contract terms and conditions which generally have repayment terms that range from thirty (30) to ninety (90) days. Commercial receivables are stated at amounts due from customers net of an allowance for doubtful accounts if deemed necessary.

 

(3) For the six months ended June 30, 2020, the Company did not recognize any material provisions for bad debt, write-offs or recoveries of existing provisions for bad debt. The Company has not historically maintained a bad debt reserve for its government customers as it has not experienced material or recurring bad debt charges and the nature and size of the contracts has not necessitated the Company’s establishment of such a bad debt reserve.

 

Accounts Receivable  
Schedules of concentration of risk
    JUNE 30,     DECEMBER 31,  
    2020     2019  
    As a % of     As a % of  

Customer Name

  Receivables     Receivables  
    (Unaudited)  
National Aeronautics and Space Administration     16%     21%
U.S. Census Bureau     50%     18%
Sales Revenue, Net  
Schedules of concentration of risk
    THREE MONTHS ENDED     SIX MONTHS ENDED  
    JUNE 30,     JUNE 30,  
    2020     2019     2020     2019  
    As a % of     As a % of     As a % of     As a % of  

Customer Name

  Revenues     Revenues     Revenues     Revenues  
    (Unaudited)  
U.S. Immigration and Customs Enforcement     --       15 %     10 %     15 %
U.S. Customs Border Patrol     --       --       --       11 %
U.S. Coast Guard     --       11 %     --       10 %
U.S. Census Bureau     60 %     --       51 %     --