Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivable

v3.21.2
Accounts Receivable
6 Months Ended
Jun. 30, 2021
Accounts Receivable [Abstract]  
Accounts Receivable

4.

Accounts Receivable

 

At June 30, 2021 and December 31, 2020, the Company’s accounts receivable consisted of the following:



 

 

2021

 

 

2020

 


Billed: 

 

 

 

 

 

 


   Construction services

$ 2,111,793

$ 1,391,555

   Engineering services

 

 

21,364

 

 

 

86,264

 


   Medical revenue

679,578


1,157,819

   Retainage receivable

 

 

615,136

 

 

 

615,136

 


   Other receivable


248,958


180,748

      Total gross receivables

 

 

3,676,829

 

 

 

3,431,522

 


Less: allowance for credit losses  

 

 

(957,116

)

 

 

(795,914

)


      Total net receivables  

 

$

2,719,713

 

 

$

2,635,608

 


Receivables are evaluated for collectability and allowances for potential losses are established or maintained on applicable receivables. The allowance for credit losses was $957,116 as of June 30, 2021. There was a provision of $161,202 for credit losses, no recoveries collected for credit losses and no write offs during the six months ended June 30, 2021. There was a provision for credit losses of $10,018, and no write offs for the year ended December 31, 2020.