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Accounting policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting policies

Schedule of Disaggregation of revenue

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

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended June 30,						Six Months Ended June 30,
​		2023			2022			2023			2022
Retail revenue	​	$	7,573,329	​	$	6,526,803	​	$	15,344,424	​	$	12,840,003
Bulk revenue	​		8,482,495	​		8,423,749	​		17,486,868	​		15,774,393
Services revenue	​		24,093,963	​		5,055,483	​		36,815,664	​		9,799,303
Manufacturing revenue	​		4,087,476	​		1,061,092	​		7,459,297	​		2,211,333
Total revenue	​	$	44,237,263	​	$	21,067,127	​	$	77,106,253	​	$	40,625,032

​

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:

​	​	​	​	​	​	​	​
​	​	June 30,		​	December 31,		​
​	​	2023		​	2022		​
Revenue recognized to date on contracts in progress		$	58,727,821	​	$	25,469,014	​
Amounts billed to date on contracts in progress	​		(68,535,879)	​		(33,407,182)	​
Retainage	​	​	5,072,338	​	​	2,047,969	​
Net contract liability	​	$	(4,735,720)	​	$	(5,890,199)	​

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:

​	​	​	​	​	​	​	​
​	​	June 30,		​	December 31,		​
​	​	2023		​	2022		​
Contract assets		$	8,192,770		$	2,913,722	​
Contract liabilities	​		(12,928,490)	​		(8,803,921)	​
Net contract liability	​	$	(4,735,720)	​	$	(5,890,199)	​

X

- Definition

The tabular disclosure of revenue recognized and amounts billed on services segment and manufacturing segment contracts in progress.

+ References

No definition available.

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- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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