Quarterly report [Sections 13 or 15(d)]

REVENUES IN EXCESS OF BILLINGS ??? LONG TERM

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REVENUES IN EXCESS OF BILLINGS – LONG TERM
 3 Months Ended
Sep. 30, 2025
Contractors [Abstract]  
REVENUES IN EXCESS OF BILLINGS – LONG TERM

NOTE 8 – REVENUES IN EXCESS OF BILLINGS – LONG TERM

 

Revenues in excess of billings, net consisted of the following:

 

   

As of

September 30, 2025

    

As of

June 30, 2025

  
             
Revenues in excess of billings - long term   $ 1,064,190     $ 1,111,803  
Present value discount     (183,137 )     (208,037 )
Net Balance   $ 881,053     $ 903,766  

 

Pursuant to revenue recognition for contract accounting, the Company has recorded revenues in excess of billings long-term for amounts billable after one year. During the three months ended September 30, 2025 and 2024, the Company accreted $24,814 and $18,367, respectively, which was recorded in interest income for that period. The Company used the discounted cash flow method with interest rates ranging from 4.2% to 17.5%, for the period ended September 30, 2025 and June 30, 2025.