Annual report pursuant to Section 13 and 15(d)

Note 5 - Receivables

v3.23.1
Note 5 - Receivables
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Accounts and Nontrade Receivable [Text Block]

Note 5.         Receivables

 

Accounts receivable as of December 31, 2022 and 2021, consist of the following:

 

   

2022

   

2021

 

Billed federal government

  $ 1,573,407     $ 1,594,473  

Billed commercial

    56,152       -  

Unbilled receivables

    -       70,389  

Accounts receivable

  $ 1,629,559     $ 1,664,862  

 

Billed receivables from the federal government include amounts due from both prime contracts and subcontracts where the federal government is the end customer. Unbilled receivables include short-term contract assets where billing cycles differ from calendar months, or a monthly fixed billing amount does not reflect the revenue earned in a given month. The accounts receivable balance as of December 31, 2020, was $1,442,231.