XML 42 R32.htm IDEA: XBRL DOCUMENT v3.23.3
CONTRACT ASSETS AND LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 2023
Contract Assets And Liabilities  
SCHEDULE OF CONTRACT WITH CUSTOMER, ASSET AND LIABILITY

Net contract assets (liabilities) consisted of the following:

   

   September 30, 2023   December 31, 2022   $ Change   % Change 
Contract assets —current  $5,882,340   $4,068,364   $1,813,976    45%
Contract liabilities—current   (668,046)   (930,500)   262,454    (28)%
Contract liabilities—noncurrent   (23,431)   (6,190)   (17,241)   279%
Net contract assets  $5,190,863   $3,131,674   $2,059,189    66%
SCHEDULE OF SATISFACTION OF PERFORMANCE OBLIGATION

The Company’s revenue recognition related to performance obligations that were satisfied at a point in time and over time were as follows:

  

   Three months ended   Three months ended   Nine months ended   Nine months ended 
   September 30, 2023   September 24, 2022   September 30, 2023   September 24, 2022 
Point in time   24%   29%   27%   23%
Over time   76%   71%   73%   77%