Accounts Receivable and Significant Concentrations

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts Receivable and Significant Concentrations

A significant portion of the Company’s revenue arrangements consist of firm fixed price contracts with agencies of the U.S. federal government and several large multinational publicly traded and private corporations. Accounts receivable consist of the following by customer type in the table below as of the periods presented:

	DECEMBER 31,
	2020		2019
Government (1)	$	34,097,906	$	12,604,582
Commercial (2)		1,898,924		2,102,581
Gross accounts receivable		35,996,830		14,707,163
Less: allowances for doubtful
accounts (3)		114,169		126,235
Accounts receivable, net	$	35,882,661	$	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) During the years ended December 31, 2020 and 2019, the Company recorded provisions for bad debt expense related to commercial customers totaling approximately $1,000, and $22,000, respectively. 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.

Significant Concentrations

Customers representing ten percent or more of consolidated accounts receivable are set forth in the table below as of the periods presented:

	DECEMBER 31,
	2020		2019
	As a % of		As a % of
Customer Name	Receivables		Receivables
National Aeronautics and Space Administration		--		21%
U.S. Census Bureau		70%		18%

Customers representing ten percent or more of consolidated revenues are set forth in the table below for each of the periods presented:

	YEARS ENDED
	DECEMBER 31,
	2020		2019
	As a % of		As a % of
Customer Name	Revenues		Revenues
U.S. Immigration and Customs Enforcement		--		14%
U.S. Customs Border Patrol		--		12%
U.S. Census Bureau		50%		10%