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CUSTOMER DEPOSITS
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
CUSTOMER DEPOSITS

NOTE 14. CUSTOMER DEPOSITS

 

We recognize customer deposits as revenue at the time of acceptance and the transfer of control to the customers. Total customer deposits of $2.7 million were recorded as of December 31, 2023 and were recognized in revenue during the year ended December 31, 2024. Total customer deposits of $2.4 million were recorded as of December 31, 2024 and were recognized in revenue during the year ended December 31, 2025. Total customer deposits of $1.2 million are recorded as of December 31, 2025. Additional deposits were paid by customers in 2025 and 2024, and were recognized into revenue in the same year they were received.

 

The movement in customer deposits is as follows:

 

   2025   2024 
   For the years ended December 31, 
   2025   2024 
Balance at beginning of the year ended December 31  $2,350,219   $2,676,435 
Decrease in customer deposits as a result of recognizing revenue during the year was included in the customer deposits at the beginning of the year   (61,972,660)   (17,771,105)
Increase in customer deposits as a result of billings in advance of performance obligation under contracts   61,081,388    17,444,889 
Refunded to the customers   (248,500)   - 
Balance at end of the year ended December 31  $1,210,447   $2,350,219