XML 29 R17.htm IDEA: XBRL DOCUMENT v3.25.3
REVENUES IN EXCESS OF BILLINGS – LONG TERM
 3 Months Ended
Sep. 30, 2025
Contractors [Abstract]  
REVENUES IN EXCESS OF BILLINGS – LONG TERM

NOTE 8 – REVENUES IN EXCESS OF BILLINGS – LONG TERM

 

Revenues in excess of billings, net consisted of the following:

 

  

As of

September 30, 2025

  

As of

June 30, 2025

 
         
Revenues in excess of billings - long term  $1,064,190   $1,111,803 
Present value discount   (183,137)   (208,037)
Net Balance  $881,053   $903,766 

 

Pursuant to revenue recognition for contract accounting, the Company has recorded revenues in excess of billings long-term for amounts billable after one year. During the three months ended September 30, 2025 and 2024, the Company accreted $24,814 and $18,367, respectively, which was recorded in interest income for that period. The Company used the discounted cash flow method with interest rates ranging from 4.2% to 17.5%, for the period ended September 30, 2025 and June 30, 2025.