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CONTRACT LIABILITY
12 Months Ended
Dec. 31, 2024
Summary Of Contract Liability  
CONTRACT LIABILITY

NOTE 19 — CONTRACT LIABILITY

 

As of December 31, 2024 and 2023, contract liability consists of:

 

   2024   2023 
   As of December 31, 
   2024   2023 
Educational revenue paid in advance  $1,731,378   $2,580,097 
Advance bookings for lodges   -    170,040 
Total  $1,731,378   $2,750,137 

 

A reconciliation of contract liability for the years ended December 31, 2024 and 2023 are as follows:

 

   2024   2023 
   As of December 31, 
   2024   2023 
Contract liability, beginning balance  $2,750,137   $6,391,993 
Addition   1,265,624    2,243,992 
Revenue earned   (2,284,383)   (5,885,848)
Contract liability, ending balance  $1,731,378   $2,750,137