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Revenue
 9 Months Ended
Sep. 30, 2024
Revenue  
Revenue

Note 6 – Revenue 

 

The following is a summary of our revenues by type for the three and nine-month periods ended September  30, 2024 and 2023:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

Name

 

September 30, 2024

 

 

 

 

September 30, 2023

 

 

 

 

September 30, 2024

 

 

 

 

September 30, 2023

 

 

 

Equipment revenue

 

$-

 

 

 

0%

 

$(10,027)

 

 

-82%

 

$305,869

 

 

 

51%

 

$833,294

 

 

 

96%

Service revenue

 

 

81,490

 

 

 

100%

 

 

22,317

 

 

 

182%

 

 

127,720

 

 

 

49%

 

 

30,317

 

 

 

4%

Total

 

$81,490

 

 

 

100%

 

$12,290

 

 

 

100%

 

$433,589

 

 

 

100%

 

$863,611

 

 

 

100%

 

Unbilled Accounts Receivable

 

The following is a summary of our unbilled accounts receivable activity for the nine months ended September 30, 2024 and the year ended December 31, 2023:

 

Name

 

Balance at

September 30,

2024

 

 

Balance at

December 31,

2023

 

Unbilled accounts receivable at beginning of year

 

$1,494,553

 

 

$918,164

 

Services performed but unbilled

 

 

285,806

 

 

 

1,061,612

 

Services billed

 

 

(59,212 )

 

 

(485,223 )

Unbilled accounts receivable at end of period

 

$1,721,147

 

 

$1,494,553

 

 

Unearned Revenue

 

The following is a summary of our unearned revenue activity for the nine months ended September 30, 2024 and year ended December 31, 2023:

 

Name

 

Balance at

September 30,

2024

 

 

Balance at

December 31,

2023

 

Unearned revenue at beginning of year

 

$130,000

 

 

$200,109

 

Billings deferred

 

 

172,768

 

 

 

58,000

 

Refundable deposit returned

 

 

(100,000 )

 

 

-

 

Recognition of prior unearned revenue

 

 

-

 

 

 

(128,109 )

Unearned revenue at end of period

 

$202,768

 

 

$130,000

 

 

We anticipate recognizing the unearned revenue as of September 30, 2024 within the next twelve months.