Related Party Transactions |
3 Months Ended |
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Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
Note 10. Related Party Transactions
Revenue and Accounts Receivable
The Company recognized revenue of $109,217 and $77,790 for the three months ended March 31, 2026 and 2025 and accounts receivable of $1,254,447 and $1,727,939, contract asset of $119,306 and $209,673 and contract liability of $28,292 and $0 as of March 31, 2026 and December 31, 2025, respectively, from contracts entered into by CTC, a principal stockholder, and subcontracted to the Company for four customers.
Accounts Payable
As of March 31, 2026 and December 31, 2025, the Company owed $50,240 and $876,007, respectively, to related parties of which $0, and $527,476, respectively, relates to advances from CTC which are unsecured, due on demand and non-bearing-interest.
As of March 31, 2026 and December 31, 2025, the Company recorded accounts payable of $62,500 and $75,006 , respectively, related to Q1 2026 and Q4 2025 Board of Director compensation payments.
Cost of Revenue
For the three months ended March 31, 2026 and 2025, the Company recorded cost of revenue to CTC of $31,142 and $37,687, respectively.
Professional Service Agreements
A Professional Services Agreement, effective November 15, 2021, was made, between the Company and CTC. The period of performance for this Agreement was December 1, 2021, through November 30, 2022. The agreement was amended and the term of agreement was extended to June 30, 2025.
During the three months ended March 31, 2026 and 2025, the Company recorded professional services of $26,043 and $34,288, respectively.
Sublease
On August 1, 2021, the Company entered into a sublease agreement with its related party, CTC (“Sublandlord”), whereby the Company subleases certain offices, rooms and shared use of common spaces located at 150 Sykes Creek Parkway, Merritt Island, FL. The sublease agreement is a month-to-month lease and may be terminated with 30 days’ notice to the Sublandlord. The monthly rent shall be $4,618.03 from February 1, 2024 to January 31, 2025, $4,756.57 from February 1, 2025 to January 31,2026 and $4,899.27 from February 1, 2026 to January 31, 2027. A common area maintenance fee (CAM) will be charged in addition to the monthly rent. During the three months ended March 31, 2026 and 2025, the Company recorded $33,419 and $20,510, respectively, directly related to this short-term month to month lease to lease expenses.
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