Annual report pursuant to Section 13 and 15(d)

Note 4 - Receivables

v3.21.1
Note 4 - Receivables
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Accounts and Nontrade Receivable [Text Block]
4.
           
Receivables
 
Accounts receivable at
December 31, 2020
and
2019,
consist of the following:
 
   
2020
   
2019
 
Billed federal government
  $
1,425,217
    $
668,712
 
Unbilled receivables
   
17,014
     
-
 
Accounts receivable
  $
1,442,231
    $
668,712
 
 
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, 2018,
was
$652,839.