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Accrued Expenses and Other Liabilities | 12 Months Ended
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Dec. 31, 2024
Accrued Liabilities and Other Liabilities [Abstract] |
Accrued Expenses and Other Liabilities | NOTE 8 – ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following on December 31:
|  | December 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Accrued compensation and related liabilities |  | $ | 1,008,278 |  |  | $ | 1,023,902 |
Deferred revenue |  | $ | 218,499 |  |  |  | 299,514 |
Customer deposits |  | $ | 26,607 |  |  |  | 27,447 |
Warranty reserve |  | $ | 501,726 |  |  |  | 607,809 |
Trade and other taxes |  | $ | 495,105 |  |  |  | 392,336 |
Other accrued expenses |  | $ | 2,556,461 |  |  |  | 851,511 |
|  | $ | 4,806,675 |  |  | $ | 3,202,519 |
The table below presents the deferred revenue, warranties and deposit balances along with the significant activity affecting balances during the years ended December 31, 2024 and 2023:
|  | December 31, |  |  | December 31, |
Deferred revenue |  | 2024 |  |  | 2023 |
Beginning balance |  | $ | 299,514 |  |  | $ | 378,952 |
Deferral of revenue during the period |  |  | 162,798 |  |  |  | 311,086 |
Recognition of unearned revenue from beginning of period |  |  | (222,638 | ) |  |  | (329,550 | )
Recognition of unearned revenue from additions |  |  | (21,175 | ) |  |  | (60,974 | )
Ending balance |  | $ | 218,499 |  |  | $ | 299,514 |
|  | December 31, |  |  | December 31, |
Customer deposits |  | 2024 |  |  | 2023 |
Beginning balance |  | $ | 27,447 |  |  | $ | 461,696 |
Additions during the period |  |  | 13,852,530 |  |  |  | 5,585,056 |
Deposits recognized from beginning of period |  |  | (15,491 | ) |  |  | (46,120 | )
Deposits recognized from additions |  |  | (13,837,879 | ) |  |  | (5,973,185 | )
Ending balance |  | $ | 26,607 |  |  | $ | 27,447 |
As of December 31, 2024, the Company had approximately $167,220 of remaining performance obligations under fully funded contracts for customer funded development. The Company currently expects to recognize the remaining performance obligations as revenue in fiscal 2025. Custom er funded development is revenue from customers for which the Company's performance obligations are satisfied over time and for which the customer receives benefits as the Company performs. Products revenue performance obligations are typically satisfied at a point in time, predominately upon shipment.

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