| CONTRACTS IN PROCESS |
NOTE 14 – CONTRACTS IN PROCESS The net unbilled accounts receivables (deferred revenues) position for contracts in process, related to the website design and implementation services, consisted of the following: | | December 31, | | | December 31, | | | | 2025 | | | 2024 | | Costs on uncompleted contracts | | $ | 542,892 | | | $ | 624,865 | | Estimated earnings | | | 737,686 | | | | 712,658 | | Total costs and estimated profits on uncompleted contracts | | | 1,280,578 | | | | 1,337,523 | | Add: unbilled amounts on completed contracts | | | 2,735 | | | | 7,000 | | Less: Progress billings | | | (1,535,898 | ) | | | (1,703,630 | ) | Unbilled accounts receivables (deferred revenues), net | | $ | (252,585 | ) | | $ | (359,107 | ) |
The net asset (liability) position for contracts in process is included in the accompanying consolidated balance sheets as follows: | | December 31, 2025 | | | December 31, 2024 | | Unbilled accounts receivable costs and estimated earnings in excess of billings on uncompleted contracts | | $ | 58,766 | | | $ | 92,576 | | Deferred revenues - Billings in excess of costs and estimated earnings on uncompleted contracts | | | (311,351 | ) | | | (451,683 | | Unbilled accounts receivables (deferred revenues), net | | $ | (252,585 | ) | | $ | (359,107 | |
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