ACCOUNTS RECEIVABLE

9 Months Ended

Sep. 30, 2012

ACCOUNTS RECEIVABLE [Abstract]

ACCOUNTS RECEIVABLE

2. ACCOUNTS RECEIVABLE

Accounts receivable consists of the following:

	September 30, 2012		December 31, 2011
Contracts receivable	$	101,903	$	494,395
Costs and estimated earnings on uncompleted contracts		1,450		349
Accounts receivable, net		103,353		494,744
Short term receivable (contract retention)		-		47,817
Long term receivable (contract retention)		-		205,313
	$	103,353	$	747,874

Contracts receivable are expected to be collected within a year.

Costs and Estimated Earnings on Uncompleted Contracts

	September 30, 2012		December 31, 2011
Costs incurred on uncompleted contracts	$	6,234,714	$	33,898,851
Estimated earnings		599,148		2,563,744
Total billable costs and estimated earnings		6,833,862		36,462,595
Less:
Billings to date		6,832,412		36,464,398
Total	$	1,450	$	(1,803	)
Included in accompanying balance sheet:
Unbilled costs and estimated earnings on uncompleted contracts included in accounts receivable	$	1,450	$	349
Billings in excess of costs and estimated earnings on uncompleted contracts		-		(2,152	)
Total	$	1,450	$	(1,803	)