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ACCOUNTING POLICIES AND NATURE OF OPERATIONS (Tables) | 12 Months Ended
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Dec. 31, 2023
ACCOUNTING POLICIES AND NATURE OF OPERATIONS |
Summary of Allowance for Doubtful Accounts |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Beginning Balance |  | $ | 51,734 |  |  | $ | 1,583 |
Provision for credit losses (+) |  |  | 300,431 |  |  |  | 120,554 |
Receivables written off (-) |  |  | (91,307 | ) |  |  | (70,403 | )
Ending Balance |  | $ | 260,858 |  |  | $ | 51,734 |
Schedule of Disaggregation of Revenue |
|  | For the Years Ended |
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | Revenues |  |  | Gross Profit |  |  | Margin |  |  | Revenues |  |  | Gross Profit |  |  | Margin |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Resale |  | $ | 117,918,242 |  |  |  | 12,691,309 |  |  |  | 10.8 | % |  | $ | 122,468,154 |  |  |  | 14,240,795 |  |  |  | 11.6 | %
Recycled |  |  | 11,495,427 |  |  |  | 2,957,249 |  |  |  | 25.7 | % |  |  | 8,639,279 |  |  |  | 1,993,644 |  |  |  | 23.1 | %
Subtotal |  |  | 129,413,669 |  |  |  | 15,648,558 |  |  |  | 12.1 | % |  |  | 131,107,433 |  |  |  | 16,234,439 |  |  |  | 12.4 | %
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Resale |  |  | 31,615,587 |  |  |  | 20,068,156 |  |  |  | 63.5 | % |  |  | 39,747,631 |  |  |  | 22,119,853 |  |  |  | 55.7 | %
Recycled |  |  | 10,644,832 |  |  |  | 5,939,816 |  |  |  | 55.8 | % |  |  | 11,830,790 |  |  |  | 6,472,794 |  |  |  | 54.7 | %
Subtotal |  |  | 42,260,419 |  |  |  | 26,007,972 |  |  |  | 61.5 | % |  |  | 51,578,421 |  |  |  | 28,592,647 |  |  |  | 55.4 | %
|  | $ | 171,674,088 |  |  | $ | 41,656,530 |  |  |  | 24.3 | % |  | $ | 182,685,854 |  |  | $ | 44,827,086 |  |  |  | 24.5 | %
Schedule of list of opening and closing balance of our contract assets and liabilities |
|  | Accounts Receivable |  |  | Contract Assets |  |  | Contract Liabilities |
Consumer |  |  |  |  |  |  |  |  |
Opening balance - 1/1/2022 |  |  | 510,168 |  |  |  | - |  |  |  | 595,840 |
Closing balance - 12/31/2022 |  |  | 839,239 |  |  |  | - |  |  |  | 196,382 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |
Opening balance - 1/1/2022 |  |  | 6,656,365 |  |  |  | - |  |  |  | - |
Closing balance - 12/31/2022 |  |  | 7,110,535 |  |  |  | - |  |  |  | - |
|  | Accounts Receivable |  |  | Contract Assets |  |  | Contract Liabilities |
Consumer |  |  |  |  |  |  |  |  |  |  |  |
Opening balance - 1/1/2023 |  |  | 839,239 |  |  |  | - |  |  |  | 196,382 |
Closing balance - 12/31/2023 |  |  | 3,411,500 |  |  |  | - |  |  |  | 58,728 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |
Opening balance - 1/1/2023 |  |  | 7,110,535 |  |  |  | - |  |  |  | - |
Closing balance - 12/31/2023 |  |  | 4,399,658 |  |  |  | - |  |  |  | - |

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