XML 26 R16.htm IDEA: XBRL DOCUMENT

Construction Backlog

9 Months Ended

Sep. 30, 2018

10.	Construction Backlog

The following represents the backlog of signed construction and engineering contracts in existence at September 30, 2018 and December 31, 2017, which represents the amount of revenue the Company expects to realize from work to be performed on uncompleted contracts in progress and from contractual agreements in effect at September 30, 2018 and December 31, 2017, respectively, on which work has not yet begun:

	September 30, 2018			December 31, 2017
Balance – beginning of period	$	76,659,029		$	541,291
New contracts and change orders during the period		32,112,767			81,179,323
Subtotal		108,771,796			81,720,614
Less: contract revenue earned during the period		(5,932,150	)		(5,061,585	)
Balance – end of period	$	102,839,646		$	76,659,029

Backlog at September 30, 2018 includes two large contracts entered into by the Company during the third quarter of 2017 and one contract during the first quarter of 2018 in the amounts of approximately $55 million, $15 million, and $27 million, respectively. The Company expects that all of this revenue will be realized by December 31, 2020.