Annual report [Section 13 and 15(d), not S-K Item 405]

Revenue

v3.26.1
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents the components of our revenue:
Year Ended December 31,
2025 2024
Cost plus fixed fee $ 5,274,915  $ 311,041 
Firm fixed-price -  1,446,376 
Firm fixed-price-vehicle lease -  50,055 
Total $ 5,274,915  $ 1,807,472 
Our performance obligations under service agreements are generally satisfied over time as the service is provided and, therefore, all revenue above has been recognized over time.
Contract Balances – Accounts receivable, net as of December 31, 2025 totaled $378,683 due from customers for contract billings and is expected to be collected within the next three to six months. At December 31, 2024 accounts receivable, net totaled $238,531. Allowances for credit losses included in accounts receivable were de minimis for as of December 31, 2025 and December 31, 2024, respectively. Bad debt expense was de minimis for the years ended December 31, 2025 and 2024.
Contract assets include unbilled amounts typically resulting from sales under contracts when the cost-to-cost method of revenue recognition is utilized, and revenue recognized exceeds the amount billed to the customer. Contract assets are recorded at the net amount expected to be billed and collected. There were no contract assets as of December 31, 2025 and December 31, 2024.
Contract liabilities include billings in excess of revenue recognized and accrual of certain contract obligations. The Company had contract liabilities at December 31, 2025 and 2024 of $0 and $346,279, respectively. Contract liabilities at December 31, 2024 relate to billings in excess of revenue recognized.