ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2012

ACCOUNTS RECEIVABLE [Abstract]

ACCOUNTS RECEIVABLE

NOTE 3 - ACCOUNTS RECEIVABLE

Our accounts receivable balance as of December 31, 2012 and 2011 included contract receivables related to completed and in progress contracts, and costs and estimated earnings on uncompleted contracts. Costs and estimated earnings on uncompleted contracts represent amounts that are billable under the terms of contracts at the end of the year, were invoiced in the following year and are generally expected to be collected within a year.

Accounts receivable consist of the following as of:

	December 31,
	2012		2011
Contracts receivable	$	46,221	$	494,395
Cost and estimated earnings (uncompleted contracts)		1,743		349
Accounts receivable, net	$	47,964	$	494,744
Short term receivable (contract retention)	$	-	$	47,817
Long term receivable (contract retention)		-		205,313
Total receivable	$	47,964	$	747,874

Contracts at December 31, 2012 are expected to be collected within a year. There are no claims or unapproved change orders included in contract receivables at December 31, 2012 and 2011. The retained balances at December 31, 2011 represent mandatory contract reserves for which customers have been billed.

Costs and Estimated Earnings on Uncompleted Contracts
	December 31,
	2012		2011
Costs incurred on uncompleted contracts	$	6,350,706	$	33,898,851
Estimated earnings		601,755		2,563,744
Total billable costs and estimated earnings		6,952,461		36,462,595
Less:
Billings to date		6,950,718		36,464,398
Total	$	1,743	$	(1,803	)
Included in accompanying balance sheet:
Unbilled costs and estimated earnings on uncompleted contracts included in accounts receivable	$	1,743	$	349
Billings in excess of costs and estimated earnings on uncompleted contracts		-		(2,152	)
Total	$	1,743	$	(1,803	)