Annual report pursuant to Section 13 and 15(d)

NOTE 12: - BILLINGS IN EXCESS OF COSTS (Tables)

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NOTE 12: - BILLINGS IN EXCESS OF COSTS (Tables)
 12 Months Ended
Dec. 31, 2012
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]
The following is a summary of the costs and estimated earnings on uncompleted contracts as of December 31, 2012 and 2011. Open contracts are expected to be completed in the following year. The billings in excess of costs are included in the deferred revenue line of the balance sheet:

   
Year ended December 31,
 
   
2012
   
2011
 
Costs incurred on uncompleted contracts
  $ 111,128,026     $ 82,310,317  
Estimated earnings
    18,649,855       18,064,955  
      129,777,881       100,375,272  
Less billings to date
    (117,503,299 )     (96,059,555 )
Total
  $ 12,274,582     $ 4,315,717  
                 
Unbilled receivables
  $ 13,374,004     $ 5,722,781  
Billings in excess of costs (included in deferred revenues)
    (1,099,422 )     (1,407,064 )
Total
  $ 12,274,582     $ 4,315,717