Accounting policies (Tables)

6 Months Ended

Jun. 30, 2020

Accounting policies

Schedule of Disaggregation of revenue

The following table presents the Company’s revenue disaggregated by revenue source (unaudited).

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Retail revenue	$	5,966,296	$	6,983,515	$	13,223,728	$	13,670,175
Bulk revenue		5,866,397		6,941,051		12,306,681		14,052,364
Services revenue		3,476,000		90,792		6,590,813		191,369
Manufacturing revenue		3,778,554		4,289,902		7,691,746		7,379,876
Total revenue	$	19,087,247	$	18,305,260	$	39,812,968	$	35,293,784

Summary of revenue recognized and amounts billed on services segment and manufacturing segment contracts in progress

Revenue recognized and amounts billed on services segment and manufacturing segment contracts in progress are summarized as follows:

	June 30, 2020		December 31, 2019
Revenue recognized to date on contracts in progress	$	23,805,174	$	24,041,993
Amounts billed to date on contracts in progress		(22,502,592)		(22,980,598)
	$	1,302,582	$	1,061,395

Summary of net balances of billings reflected in the accompanying consolidated balance sheet

The above net balances are reflected in the accompanying consolidated balance sheet as follows:

	June 30, 2020		December 31, 2019
Costs and estimated earnings in excess of billings	$	2,202,524	$	1,675,781
Billings in excess of costs and estimated earnings		(899,942)		(614,386)
	$	1,302,582	$	1,061,395