Accounting policies (Tables)

3 Months Ended

Mar. 31, 2022

Accounting policies

Schedule of Disaggregation of revenue

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

	Three Months Ended March 31,
	2022		2021
Retail revenue	$	6,313,200	$	5,711,305
Bulk revenue		7,350,644		6,245,970
Services revenue		4,743,820		3,540,846
Manufacturing revenue		1,150,241		1,605,196
Total revenue	$	19,557,905	$	17,103,317

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

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

	March 31,		December 31
	2022		2021
Revenue recognized to date on contracts in progress	$	8,073,714	$	6,109,396
Amounts billed to date on contracts in progress		(8,071,419)		(6,370,855)
Retainage		246,815		237,542
Net contract asset (liability)	$	249,110	$	(23,917)

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

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

	March 31,		December 31
	2022		2021
Contract assets	$	828,962	$	489,961
Contract liabilities		(579,852)		(513,878)
Net contract asset (liability)	$	249,110	$	(23,917)