Quarterly report pursuant to Section 13 or 15(d)

Unearned Revenue

v3.23.1
Unearned Revenue
3 Months Ended
Mar. 31, 2023
Unearned Revenue [Abstract]  
UNEARNED REVENUE
K. UNearned revenue:

 

Unearned revenue includes customer deposits and deferred revenue which represent prepayments from customers. At March 31, 2023 and December 31, 2022, the Company had unearned revenue totaling $1,871,846 and $633,148, respectively.

 

    March 31,     December 31,  
    2023     2022  
Balance at January 1,   $ 633,148     $ 721,608  
Revenue Recognized     (15,776,247 )     (58,953,467 )
Amounts Collected or Invoiced     17,014,945       58,865,007  
Unearned Revenue   $ 1,871,846     $ 633,148