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Hycon Investments, LLC <br />Notes to Financial Statements <br />June 30, 2024 <br />11 <br />Note 3 Contracts Receivable <br />Contracts receivable at June 30, 2024 are as follows: <br />Completed contracts 41,350$ <br />Contracts in progress 465,077 <br />506,427$ <br />Note 4 Investments <br />The Company holds 4% and 1% investments in two separate real estate development businesses for <br />strategic purposes. At June 30, 2024, the carrying values of the investments were approximately <br />$53,000 and $30,000, respectively, and are included as investments in the accompanying balance <br />sheet. <br />Note 5 Billings, Costs and Estimated Earnings on Uncompleted Contracts <br />Billings, costs and estimated earnings on uncompleted contracts as of June 30, 2024 are as follows: <br />Costs incurred on uncompleted contracts 3,500,949$ <br />Estimated earnings 899,993 <br />4,400,942 <br />Less: billings to date (4,687,259) <br />(286,317)$ <br />Costs and estimated earnings in excess of billings on <br />uncompleted contracts 132,722$ <br />Billings in excess of costs and estimated earnings on <br />uncompleted contracts (419,039) <br />(286,317)$ <br />Note 6 Long-Term Debt <br />At June 30, 2024, the Company’s long-term debt consists of the following: <br /> <br />150,000$ <br />Less: current portion (3,368) <br />146,632$ <br />COVID-19 EIDL loan in the amount of $150,000, bearing interest at <br />a rate of 3.75%; payable in monthly installments of $731, including <br />interest, through July 2050. <br /> <br /> <br /> <br /> <br /> <br />