Note 15 - Revenue Recognition

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

Note 15 - Revenue Recognition

For the year ended December 31, 2024 and 2023, the Company has recognized its revenue at a point in time. The Company categorizes its revenue as Services and recognized $3,662,349and $4,952,725 for the year ended December 31, 2024 and 2023.

The Company’s assets and liabilities related to its contracts with customers were as follows:

	December 31, 2024		December 31, 2023
Accounts receivable	$	264,831	$	415,119
Unbilled revenue	$	-	$	12,000

The timing of revenue recognition may differ from the timing of invoicing to customers and these timing differences result in contract advanced billings on the Company’s consolidated balance sheet. The Company recognized unbilled revenue when revenue is recognized prior to invoicing.

Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 days. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that its contracts generally do not include a significant financing component. The primary purpose of invoicing terms is to provide customers with simplified and predictable ways of purchasing the Company’s products and services, and not to facilitate financing arrangements.