Quarterly report pursuant to Section 13 or 15(d)

Construction Backlog

v3.8.0.1
Construction Backlog
9 Months Ended
Sep. 30, 2017
Construction Backlog [Abstract]  
Construction Backlog
11. Construction Backlog

 

The following represents the backlog of signed construction and engineering contracts in existence at September 30, 2017 and December 31, 2016:

 

    September 30,
2017
    December 31, 
2016
 
Balance – beginning of period   $ 541,291     $ 105,851  
New contracts and change orders during the period     79,547,622       807,786  
      80,088,913       913,637  
Less: contract revenue earned during the period     (3,001,279 )     (372,346 )
      77,087,634       541,291  
Contracts signed but not started     -       -  
Balance – end of period   $ 77,087,634     $ 541,291  

 

Backlog at September 30, 2017 includes two large contracts entered into by the Company during the third quarter in the amounts of approximately $55 million and $15 million. The Company expects that all of this revenue will be realized by August 31, 2020.