Quarterly report [Sections 13 or 15(d)]

REVENUES IN EXCESS OF BILLINGS ??? LONG TERM

v3.26.1
REVENUES IN EXCESS OF BILLINGS – LONG TERM
 9 Months Ended
Mar. 31, 2026
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     As of  
    March 31, 2026     June 30, 2025  
             
Revenues in excess of billings - long term   $ 3,244,727     $ 1,111,803  
Present value discount     (420,429 )     (208,037 )
Net Balance   $ 2,824,298     $ 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 and nine months ended March 31, 2026, the Company accreted $12,504 and $49,822, respectively, which were recorded in interest income for that period. During the three and nine months ended March 31, 2025, the Company accreted $18,099 and $54,833, respectively, which were recorded in interest income for that period. The Company used the discounted cash flow method with interest rates ranging from 4.5% to 6.6%, for the period ended March 31, 2026. The Company used the discounted cash flow method with interest rates ranging from 4.2% to 17.5%, for the period ended June 30, 2025.