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REVENUE (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
The following tables present the Company’s revenue disaggregated by contract type and revenue recognition method:

The following tables present the Company’s revenue disaggregated by contract type and revenue recognition method:

 

   Three months ended
March 31,		 
   2024   2023 
Government subcontracts  $15,001,768   $18,672,893 
Prime government contracts   2,781,881    1,408,034 
Commercial contracts   1,297,494    1,935,741 
   $19,081,143   $22,016,668 

 

   Three months ended
March 31,		 
   2024   2023 
Revenue recognized using over time revenue recognition model  $18,870,366   $20,630,230 
Revenue recognized using point in time revenue recognition model   210,777    1,386,438 
   $19,081,143   $22,016,668 
Net EAC adjustments had the following impact on our gross profit during the three months ended March 31, 2024 and 2023:

Net EAC adjustments had the following impact on our gross profit during the three months ended March 31, 2024 and 2023:

 

   Three months ended 
   March 31,
2024		   March 31,
2023		 
Favorable adjustments  $912,487   $825,981 
Unfavorable adjustments   (2,085,348)   (1,546,986)
Net adjustments  $(1,172,861)  $(721,005)