Accounting policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting policies

Schedule of Disaggregation of revenue

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Retail revenue	$	7,585,992	$	7,216,574	$	24,392,814	$	22,560,998
Bulk revenue		8,767,168		8,488,615		25,557,220		25,975,483
Services revenue		12,677,837		29,427,664		42,017,917		66,243,328
Manufacturing revenue		4,359,560		4,721,222		13,591,154		12,180,519
Total revenue	$	33,390,557	$	49,854,075	$	105,559,105	$	126,960,328

Services revenue consists of the following:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Construction revenue	$	3,637,038	$	24,204,446	$	16,165,312	$	52,563,822
Operations and maintenance revenue		7,492,121		5,021,081		21,660,396		12,750,902
Design and consulting revenue		1,548,678		202,137		4,192,209		928,604
Total services revenue	$	12,677,837	$	29,427,664	$	42,017,917	$	66,243,328

Summary of revenue recognized and amounts billed on contracts in progress

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

	September 30,		December 31,
	2024		2023
Revenue recognized to date on contracts in progress	$	121,305,155	$	108,952,682
Amounts billed to date on contracts in progress		(127,710,070)		(101,724,459)
Retainage		2,344,556		8,087,823
Net contract asset /(liability)	$	(4,060,359)	$	15,316,046

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:

	September 30,		December 31,
	2024		2023
Contract assets	$	1,958,361	$	21,553,057
Contract liabilities		(6,018,720)		(6,237,011)
Net contract asset /(liability)	$	(4,060,359)	$	15,316,046