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REVENUE (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
The following tables present the Company’s revenue disaggregated by contract type and revenue recognition method:

The following tables present the Company’s revenue disaggregated by contract type and revenue recognition method:

 

   Three months ended
June 30,		   Six months ended
June 30,		 
   2024   2023   2024   2023 
Government subcontracts  $16,963,874   $16,502,026   $31,965,642   $35,174,919 
Prime government contracts   2,601,347    2,710,925    5,383,228    4,118,959 
Commercial contracts   1,245,113    1,334,604    2,542,607    3,270,345 
   $20,810,334   $20,547,555   $39,891,477   $42,564,223 

 

   Three months ended
June 30,		   Six months ended
June 30,		 
   2024   2023   2024   2023 
Revenue recognized using over time revenue recognition model  $20,596,186   $18,669,843   $39,466,552   $39,300,073 
Revenue recognized using point in time revenue recognition model   214,148    1,877,712    424,925    3,264,150 
   $20,810,334   $20,547,555   $39,891,477   $42,564,223 
Net EAC adjustments had the following impact on our gross profit during the six months ended June 30, 2024 and 2023:

Net EAC adjustments had the following impact on our gross profit during the six months ended June 30, 2024 and 2023:

 

   Six months ended 
   June 30,
2024		   June 30,
2023		 
Favorable adjustments  $1,490,839   $1,913,135 
Unfavorable adjustments   (2,849,017)   (2,189,848)
Net adjustments  $(1,358,178)  $(276,713)