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REVENUE (Tables)
 9 Months Ended
Sep. 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
September 30,		     Nine months ended
September 30,		  
    2024     2023     2024     2023  
Government subcontracts   $ 16,986,106     $ 15,375,337     $ 48,951,748     $ 50,550,256  
                                 
Prime government contracts     1,673,483       3,943,723       7,056,711       8,062,682  
Commercial contracts     760,290       1,080,309       3,302,897       4,350,654  
    $ 19,419,879     $ 20,399,369     $ 59,311,356     $ 62,963,592  

 

    Three months ended
September 30,		     Nine months ended
September 30,		  
    2024     2023     2024     2023  
Revenue recognized using over time revenue recognition model   $ 19,092,000     $ 20,053,771     $ 58,558,552     $ 59,353,845  
                                 
Revenue recognized using point in time revenue recognition model     327,879       345,598       752,804       3,609,747  
    $ 19,419,879     $ 20,399,369     $ 59,311,356     $ 62,963,592  
Net EAC adjustments had the following impact on our gross profit during the nine months ended September 30, 2024 and 2023:

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

 

    Nine months ended  
    September 30,
2024		     September 30,
2023		  
Favorable adjustments   $ 1,835,489     $ 2,383,071  
Unfavorable adjustments     (4,059,160 )     (3,396,171 )
Net adjustments   $ (2,223,671 )   $ (1,013,100 )