Goldfield 10-K 11 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Mar. 06, 2020	Jun. 28, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	GOLDFIELD CORP
Entity Central Index Key	0000042316
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity File Number	1-7525
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-0031580
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	GV
Security Exchange Name	NYSEAMER
Entity Address, Address Line One	1684 W. Hibiscus Boulevard
Entity Address, City or Town	Melbourne
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32901
City Area Code	321
Local Phone Number	724-1700
Entity Common Stock, Shares Outstanding		24,522,534
Document Transition Report	false
Document Annual Report	true
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Documents Incorporated by Reference	Portions of The Goldfield Corporation’s definitive proxy statement for its 2020 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission within 120 days after the end of the year covered by this Form 10-K Report are incorporated by reference into Part III of this report
Entity Public Float			$ 51.2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 23,272,156	$ 11,376,373
Accounts receivable and accrued billings	23,930,655	22,236,071
Costs and estimated earnings in excess of billings on uncompleted contracts	9,321,368	12,030,000
Income taxes receivable	1,482,618	1,220,527
Residential properties under construction	2,060,364	8,244,995
Prepaid expenses	924,733	634,069
Other current assets	46,186	1,835,743
Total current assets	61,038,080	57,577,778
Property, buildings and equipment, at cost, net of accumulated depreciation of $51,904,568 in 2019 and $43,060,083 in 2018	55,073,579	48,927,055
Deferred charges and other assets
Land and land development costs	5,060,581	4,680,080
Cash surrender value of life insurance	543,433	547,009
Restricted cash	0	25,980
Goodwill	101,407	101,407
Intangibles, net of accumulated amortization of $384,801 in 2019 and $324,634 in 2018	628,999	689,166
Operating lease right-of-use assets	6,861,099
Other assets	60,000
Total deferred charges and other assets	13,255,519	6,043,642
Total assets	129,367,178	112,548,475
Current liabilities
Accounts payable and accrued liabilities	13,881,277	15,999,157
Billings in excess of costs and estimated earnings on uncompleted contracts	731,492	1,165,002
Current portion of operating lease liability	1,880,957
Current portion of other long-term debt		113,855
Current portion of notes payable, net	7,769,497	7,161,890
Accrued remediation costs	75,545	60,101
Total current liabilities	24,338,768	24,500,005
Deferred income taxes	9,008,765	6,061,042
Accrued remediation costs, less current portion	398,877	436,982
Other long-term debt, less current portion, net		183,744
Notes payable, less current portion, net	24,402,926	21,731,024
Other accrued liabilities	5,047,088	30,246
Total liabilities	63,196,424	52,943,043
Commitments and contingencies (notes 4 and 8)
Stockholders’ equity
Preferred stock, $1 par value, 5,000,000 shares authorized, none issued
Common stock, $.10 par value, 40,000,000 shares authorized; 27,813,772 shares issued 24,522,534 shares outstanding in 2019 and 24,590,243 shares outstanding in 2018	2,781,377	2,781,377
Additional paid-in capital	18,481,683	18,481,683
Retained earnings	48,347,798	41,621,191
Treasury stock, 3,291,238 shares in 2019 and 3,223,529 shares in 2018, at cost	(3,440,104)	(3,278,819)
Total stockholders’ equity	66,170,754	59,605,432
Total liabilities and stockholders’ equity	$ 129,367,178	$ 112,548,475

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Property, buildings and equipment, accumulated depreciation	$ 51,904,568	$ 43,060,083
Finite-lived intangible assets, accumulated amortization	$ 384,801	$ 324,634
Preferred stock, par value (usd per share)	$ 1	$ 1
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (usd per share)	$ 0.10	$ 0.10
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	27,813,772	27,813,772
Common stock, shares outstanding	24,522,534	24,590,243
Treasury stock, shares	3,291,238	3,223,529

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue
Total revenue	$ 180,645,718	$ 138,148,842
Costs and expenses
Selling, general and administrative	9,451,515	7,336,475
Depreciation and amortization	10,846,334	8,436,972
Gain on sale of property and equipment	(51,123)	(176,564)
Total costs and expenses	169,430,167	130,585,138
Total operating income	11,215,551	7,563,704
Other income (expense), net
Interest income	98,048	52,288
Interest expense, net of amount capitalized	(1,445,528)	(875,646)
Other income, net	121,909	84,351
Total other expense, net	(1,225,571)	(739,007)
Income before income taxes	9,989,980	6,824,697
Income tax provision	3,263,373	1,796,946
Net income	$ 6,726,607	$ 5,027,751
Net income per share of common stock — basic and diluted	$ 0.27	$ 0.20
Weighted average shares outstanding — basic and diluted	24,523,429	25,411,623
Electrical construction
Revenue
Total revenue	$ 167,779,823	$ 136,526,511
Costs and expenses
Cost of goods and service sold	139,820,478	113,976,157
Real estate development
Revenue
Total revenue	12,865,895	1,622,331
Costs and expenses
Cost of goods and service sold	$ 9,362,963	$ 1,012,098

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net income	$ 6,726,607	$ 5,027,751
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	10,846,334	8,436,972
Amortization of debt issuance costs	30,024	34,873
Deferred income taxes	2,947,723	1,362,322
Gain on sale of property and equipment	(51,123)	(176,564)
Other losses	3,576	3,326
Changes in operating assets and liabilities
Accounts receivable and accrued billings	(1,694,584)	(669,229)
Costs and estimated earnings in excess of billings on uncompleted contracts	2,708,632	(5,955,654)
Residential properties under construction	6,184,631	(5,832,793)
Income taxes receivable	(262,091)	(600,975)
Prepaid expenses and other assets	1,438,893	55,966
Land and land development costs	(380,501)	(353,352)
Accounts payable and accrued liabilities	321,067	4,512,742
Operating leases	6,946
Billings in excess of costs and estimated earnings on uncompleted contracts	(433,510)	998,734
Accrued remediation costs	(22,661)	(24,634)
Net cash provided by operating activities	28,369,963	6,819,485
Cash flows from investing activities
Proceeds from disposal of property and equipment	563,707	1,031,674
Purchases of property, buildings and equipment	(19,854,468)	(19,609,245)
Net cash used in investing activities	(19,290,761)	(18,577,571)
Cash flows from financing activities
Purchases of treasury stock	(161,285)	(1,970,632)
Proceeds from notes payable	15,500,000	18,275,451
Repayments on notes payable	(12,176,000)	(11,645,451)
Other long-term debt repayments	(297,599)	(107,400)
Debt issuance costs	(74,515)	(23,313)
Net cash provided by financing activities	2,790,601	4,528,655
Net increase (decrease) in cash, cash equivalents and restricted cash	11,869,803	(7,229,431)
Cash, cash equivalents and restricted cash at beginning of the year	11,402,353	18,631,784
Cash, cash equivalents and restricted cash at end of the year	23,272,156	11,402,353
Supplemental disclosure of cash flow information
Interest paid, net of amounts capitalized	1,421,656	805,756
Income taxes paid, net	577,741	1,035,599
Supplemental disclosure of non-cash investing
Liability for equipment acquired	124,178	2,235,772
Equipment funded by other long-term debt		$ 297,599
Right-of-use asset obtained in exchange for operating lease obligations	$ 5,819,471

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common stock	Additional paid-in capital	Retained earnings	Treasury stock
Balance at Dec. 31, 2017	$ 56,548,313	$ 2,781,377	$ 18,481,683	$ 36,593,440	$ (1,308,187)
Balance (shares) at Dec. 31, 2017		27,813,772
Repurchase of stock	(1,970,632)				(1,970,632)
Net income	5,027,751			5,027,751
Balance at Dec. 31, 2018	$ 59,605,432	$ 2,781,377	18,481,683	41,621,191	(3,278,819)
Balance (shares) at Dec. 31, 2018	24,590,243	27,813,772
Repurchase of stock	$ (161,285)				(161,285)
Net income	6,726,607			6,726,607
Balance at Dec. 31, 2019	$ 66,170,754	$ 2,781,377	$ 18,481,683	$ 48,347,798	$ (3,440,104)
Balance (shares) at Dec. 31, 2019	24,522,534	27,813,772

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	Note 1 – Organization and Summary of Significant Accounting Policies Overview The Goldfield Corporation (the “Company”) was incorporated in Wyoming in 1906 and subsequently reincorporated in Delaware in 1968. The Company’s principal line of business is the construction of electrical infrastructure for the utility industry and industrial customers and to a lesser extent real estate development. The principal market for the Company’s electrical construction operation is primarily in the Southeast, mid-Atlantic and Texas-Southwest regions of the United States. The principal market for the Company’s real estate development operation is along the east coast of Central Florida. Basis of Financial Statement Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company adopted Accounting Standards Updates (“ASU”) ASU 2011-05 and ASU 2011-12, which require comprehensive income to be reported in either a single statement or in two consecutive statements reporting net income and other comprehensive income. The amendment eliminates the option to report other comprehensive income and its components in the statement of changes in stockholders’ equity. However, comprehensive income is equivalent to net income for the Company, and therefore, the Company’s accompanying financial statements do not include a Statement of Other Comprehensive Income. Cash and Cash Equivalents The Company considers highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Allowance for Doubtful Accounts The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on customer specific information and historical write-off experience. The Company reviews its allowance for doubtful accounts quarterly. Account balances are charged off against the allowance after reasonable means of collection have been exhausted and the potential for recovery is considered remote. As of both December 31, 2019 Property, Buildings, Equipment and Depreciation Property, buildings and equipment are stated at cost. Depreciation on property, buildings and equipment is calculated on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated on a straight-line basis over the shorter of the lease term, including renewals that are deemed to be reasonably assured, or the estimated useful life of the improvement. In accordance with Accounting Standard Codification (“ASC”) ASC Topic 360-10-05, Accounting for the Impairment or Disposal of Long-Lived Assets Electrical Construction Revenue On January 1, 2018 the Company adopted accounting standard ASC 606 and all the related amendments (the “revenue standard”) to all applicable contracts using the modified retrospective method (cumulative effect method). Applicable contracts did not include contracts considered substantially complete. Contracts that were modified before the beginning of the earliest period presented were not retrospectively restated. Instead, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price as of the date of adoption. Adoption of the revenue standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. In addition, the Company concluded that the cumulative effect of initially applying the revenue standard was immaterial and consequently did not record an adjustment to the opening balance of retained earnings. The adoption of the revenue standard did not have a material impact to its financial position, results of operations and cash flows on an ongoing basis. Revenue from unit-price contracts is recognized over time as services are performed and the underlying obligations to customers are fulfilled. The Company’s contracts allow it to bill additional amounts for change orders and claims. The Company considers a claim to be for additional work performed outside the scope of the contract and contested by the customer. Historically, claims relating to electrical construction work have not been significant. A change order is a modification to a contract that changes the provisions of the contract, typically resulting from changes in scope, specifications, design, manner of performance, facilities, equipment, materials, sites, or period of completion of the work under the contract. It is the Company’s policy to include revenue from change orders in contract value only when they can be reliably estimated and realization is considered probable. The asset, “costs and estimated earnings in excess of billings on uncompleted contracts” represents revenue recognized in excess of amounts billed. The liability, “billings in excess of costs and estimated earnings on uncompleted contracts” represents billings in excess of revenue recognized. Contract costs include all direct material, direct labor, subcontractor costs and indirect costs related to contract performance, such as supplies, tools and equipment maintenance. General and administrative costs are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, estimated profitability and final contract settlements may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Real Estate Development Operations Revenue There were no material changes in the pattern of revenue recognition for real estate development operations after the adoption of the revenue standard on January 1, 2018. The Company recognizes revenue upon the transfer of control of the promised real estate properties, generally at time of closing. Land and Land Development Costs and Residential Properties Under Construction The costs of a land purchase and any development expenses up to the initial construction phase of any residential property development project are recorded under the asset “land and land development costs.” Once construction commences, both the land development costs and construction costs are recorded under the asset “residential properties under construction.” The assets “land and land development costs” and “residential properties under construction” relating to specific projects are recorded as current assets when the estimated project completion date is less than one year from the date of the consolidated financial statements, or as non-current assets when the estimated project completion date is one year or more from the date of the consolidated financial statements. In accordance with ASC 360-10, Accounting for the Impairment or Disposal of Long-lived Assets Fair Value Measurement December 31, 2019 Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes, The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as interest expense and other general and administrative expenses, respectively, and not as a component of income taxes. Executive Long-term Incentive Plan The Company has not issued shares pursuant to The Goldfield Corporation 2013 Long-term Incentive Plan (the “2013 Plan”) in either 2019 or 2018. Therefore, the Company has no compensation expense for shares pursuant to the 2013 Plan for either of the years ended December 31, 2019 Use of Estimates Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”). Actual results could differ from those estimates. Management considers the most significant estimates in preparing these consolidated financial statements to be the estimated costs at completion of electrical construction contracts in progress. Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, accounts receivable and accrued billings, restricted cash collateral deposited with insurance carriers, cash surrender value of life insurance policies, accounts payable, notes payable, and other current liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value guidance establishes a valuation hierarchy, which requires maximizing the use of observable inputs when measuring fair value. The three levels of inputs that may be used are: Level 1 - Quoted market prices in active markets for identical assets or liabilities. Level 2 - Observable market based inputs or other observable inputs. Level 3 - Significant unobservable inputs that cannot be corroborated by observable market data. These values are generally determined using valuation models incorporating management’s estimates of market participant assumptions. Fair values of financial instruments are estimated through the use of public market prices, quotes from financial institutions, and other available information. Management considers the carrying amounts reported on the consolidated balance sheets for cash and cash equivalents, accounts receivable and accrued billings, accounts payable and accrued liabilities, to approximate fair value due to the immediate or short-term maturity of these financial instruments. The Company’s carrying value of long-term notes payable are estimated by management to approximate fair value since the interest rates prescribed by Branch Banking and Trust Company, now known as Truist Bank (the “Bank”), are variable market interest rates and are adjusted periodically, and as such, are classified as Level 2. The carrying value of cash surrender value of life insurance is also considered by management to approximate fair value as the carrying value is based on the current settlement value under the contract, as provided by the carrier and as such, is classified as Level 2. Restricted Cash The Company’s restricted cash includes cash deposited in a secured interest bearing bank account, as required by the Collateral Trust Agreement in connection with the Company’s previous workers’ compensation insurance policies, as described in note 12. On September 12, 2019, the Company was reimbursed the cash deposited and classified as restricted cash. Therefore, as of December 31, 2019 Goodwill and Intangible Assets Intangible assets with finite useful lives recorded in connection with a historical acquisition are amortized over the term of the related contract or useful life, as applicable. Intangible assets held by the Company with finite useful lives include customer relationships and trademarks. The Company reviews the values recorded for intangible assets and goodwill to assess recoverability from future operations annually or whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. As of December 31, 2019 Reclassifications Certain amounts associated with deferred income tax assets allocated in each segment were reflected as of December 31, 2018 in the assets table within note 11 Business Segment Information and have been reclassified to conform to the total assets presentation as of December 31, 2019. This reclassification had no impact on the total assets reported as of December 31, 2018. In addition, within note 3 Income Taxes, certain amounts associated with state tax permanent differences, previously reported under the caption “Other” in the effective tax rate reconciliation table as of December 31, 2018, have been reclassified to conform to the December 31, 2019 presentation. Recent Accounting Pronouncements In February 2016, Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Codification Topic 842, Leases The Company elected the “package of practical expedients” permitted under the transition guidance within the new standard, which among other things, allowed the Company to carry forward the historical lease classification. In addition, the Company elected not to utilize the hindsight practical expedient to determine the lease term for existing leases. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company did not recognize right-of-use assets or lease liabilities, including not recognizing right-of-use assets or lease liabilities for existing short-term leases of those assets in transition. The Company also elected the practical expedient to not separate lease and non-lease components. Leases In January 2017, the FASB issued ASU 2017-04, which eliminates Step 2 of the current goodwill impairment test. A goodwill impairment loss will instead be measured at the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the recorded amount of goodwill allocated to that reporting unit. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The Company is currently assessing the impact that adoption will have on its consolidated financial statements: however, the Company does not expect this ASU to have a significant impact on its consolidated financial statements. In June 2016 the FASB issued ASU-2016-13, Financial Instruments – Credit Losses. This update requires immediate recognition of management’s estimates of current expected credit losses. This update is effective for the Company in the first quarter of fiscal year 2020. The adoption of ASU 2016-13 is not expected to have a significant impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU-2019-12, Income Taxes: Simplifying the Accounting for Income Taxes, effective beginning fiscal year 2021. This update simplifies the accounting for interim period tax law changes and loss limitations, ownership changes in equity investments, intraperiod tax allocations and the step up of tax basis in goodwill that is not acquired during a business combination. The adoption of ASU-2019-12 is not expected to have a significant impact on the Company’s consolidated financial statements.

Contract Assets and Contract Li

Contract Assets and Contract Liabilities	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Contract Assets and Contract Liabilities	Note 2 – Contract Assets and Contract Liabilities On January 1, 2018 the Company adopted accounting standard ASC 606 and all the related amendments (the “revenue standard”) to all applicable contracts using the modified retrospective method. Applicable contracts did not include contracts considered substantially complete. Contracts that were modified before the beginning of the earliest period presented were not retrospectively restated. Instead, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price as of the date of adoption. Adoption of this standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. The following table presents the net contract assets and liabilities for the electrical construction operations as of the dates indicated: December 31, 2019 December 31, 2018 $ Change Contract assets (1) $ 9,321,368 $ 12,030,000 $ (2,708,632 ) Contract liabilities (2) (1,008,679 ) (1,845,049 ) 836,370 Net contract assets $ 8,312,689 $ 10,184,951 $ (1,872,262 ) ______________________________________ (1) Contract assets consist of amounts under the caption “Costs and estimated earnings in excess of billings on uncompleted contracts.” (2) Contract liabilities consist of the aggregate of amounts presented under the caption “Billings in excess of costs and estimated earnings on uncompleted contracts” and any contract loss accruals included in “Accounts payable and accrued liabilities.” The amounts billed but not paid by customers pursuant to retention provisions of the electrical construction contracts were $2.8 million and $2.2 million as of December 31, 2019 The following table presents the changes in the net contract assets and liabilities for the electrical construction operations for the twelve months ended December 31, 2019 $ Change Twelve Months Ended December 31, 2019 Cumulative adjustment due to changes in contract values (1) $ 2,260,795 Cumulative adjustment due to changes in estimated costs at completion (4,127,610 ) Revenue recognized in the period 128,656,865 Amounts reclassified to receivables (129,065,172 ) Impairment of contract assets (2) 402,860 Total $ (1,872,262 ) ______________________________________ (1) Amount attributable to contract modifications accounted for on a cumulative catch-up basis where the customer has approved a change in the scope or price of the contract, where the modification is treated as part of the existing contract and where the remaining goods and services are not distinct. (2) For the year ended December 31, 2019 Note 14 – ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures On January 1, 2018, the Company adopted revenue standard ASC 606 and all the related amendments (the “revenue standard”). Adoption of this standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. The Company concluded that the cumulative effect of initially applying the revenue standard was immaterial and consequently did not record an adjustment to the opening balance of retained earnings. To determine the proper revenue recognition method for contracts for electrical construction services, the Company evaluates whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment and the decision to combine a group of contracts or separate the combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. For most of the contracts, the Company provides a significant service of integrating a complex set of tasks and components into a single project or capability. Hence, the entire contract is accounted for as one performance obligation. However, less likely, if a contract is separated into more than one performance obligation, the Company allocates the total transaction price for each performance obligation in an amount based on the estimated relative stand-alone selling prices of the promised goods or services underlying each performance obligation. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company generally recognizes revenue over time as it performs because of continuous transfer of control to the customer. Because of control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The cost-to-cost measure of progress is generally used for its contracts because it best depicts the transfer of control to the customer which occurs as the Company incurs costs on the contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenue is recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on many of the performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. The Company estimates variable consideration at the most likely amount which the Company expects to receive. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of all information (historical, current and forecasted) that is reasonably available to the Company. Contracts are often modified to account for changes in contract specifications and requirements. The Company considers contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Most of the contract modifications are for goods or services that are not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as if they were part of that existing contract. The effect of a contract modification on the transaction price and our measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. The Company has a standard and disciplined quarterly estimated costs at completion process in which management reviews the progress and execution of our performance obligations. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), and execution by our subcontractors, among other variables. Based on this analysis, any quarterly adjustments to net revenue, cost of electrical construction revenue and the related impact to operating income are recognized as necessary in the period they become known. The following table disaggregates the Company’s revenue for the years ended December 31 as indicated: 2019 2018 Electrical construction operations (1) Southeast $ 69,558,248 $ 54,123,848 mid-Atlantic 50,406,022 41,071,994 Texas-Southwest 45,318,830 33,825,666 Other electrical construction (2) 2,496,723 7,505,003 Total electrical construction operations 167,779,823 136,526,511 Real estate development operations 12,865,895 1,622,331 Total revenue $ 180,645,718 $ 138,148,842 ______________________________________ (1) (2) The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of December 31, 2019

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 3 – Income Taxes The following table presents the income tax provision from continuing operations for the years ended December 31 as indicated: 2019 2018 Current Federal $ (13,164 ) $ (153,610 ) State 334,307 597,909 321,143 444,299 Deferred Federal 2,638,158 1,779,574 State 304,072 (426,927 ) 2,942,230 1,352,647 Total $ 3,263,373 $ 1,796,946 The following table presents the total income tax provision for the years ended December 31 as indicated: 2019 2018 Income tax provision $ 3,263,373 $ 1,796,946 Discontinued operations — — Total $ 3,263,373 $ 1,796,946 The following table presents the temporary differences and carryforwards, which give rise to deferred tax assets and liabilities as of December 31 as indicated: 2019 2018 Deferred tax assets Accrued vacation $ 171,391 $ 139,713 Acquisition costs capitalized 50,450 55,917 Accrued remediation costs 115,000 120,493 Net operating loss carryforwards 925,774 435,121 Sec 163(j) interest limitation — 199,582 Federal depreciation in excess of state 813,542 635,202 Accrued payables 62,721 17,914 Percentage completed contract method for tax 90,241 1,557,437 Accrued workers’ compensation 90,795 205,150 Capitalized bidding costs 86,112 73,565 Inventory adjustments 141,838 263,680 Lease liability 1,677,962 15,199 Accrued contract losses 67,190 164,843 Other 5,152 4,097 Total deferred tax assets 4,298,168 3,887,913 Deferred tax liabilities 481 (a) adjustment for deferred revenue — (24,602 ) Tax amortization in excess of financial statement amortization (17,347 ) (13,378 ) Tax depreciation in excess of financial statement depreciation (11,624,772 ) (9,910,975 ) Right-of-use assets (1,664,814 ) — Total deferred tax liabilities (13,306,933 ) (9,948,955 ) Total net deferred tax liabilities $ (9,008,765 ) $ (6,061,042 ) As of December 31, 2019 As of December 31, 2019 December 31, 2018 The Company accounts for income taxes in accordance with ASC 740, Income Taxes , which establishes the recognition requirements. Deferred tax assets and liabilities are recognized for the future tax effects attributable to temporary differences and carryforwards between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The carrying amounts of deferred tax assets are reduced by a valuation allowance, if based on the available evidence, it is more likely than not such assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the deferred tax assets are expected to be recovered or settled. In the assessment for a valuation allowance, appropriate consideration is given to positive and negative evidence related to the realization of the deferred tax assets. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability and tax planning alternatives. If the Company determines it will not be able to realize all or part of the deferred tax assets, a valuation allowance would be recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. Based on assumptions with respect to forecasts of future taxable income and tax planning, among others, the Company anticipates being able to generate sufficient taxable income to utilize the deferred tax assets. Therefore, the Company has not recorded a valuation allowance against deferred tax assets. The minimum amount of future taxable income required to be generated to fully realize the deferred tax assets as of December 31, 2019 The following table presents the differences between the Company’s effective income tax rate and the federal statutory rate on income from continuing operations for the years ended December 31 2019 2018 Federal statutory rate 21.0 % 21.0 % State tax rate, net of federal tax 4.2 % 4.0 % Nondeductible expenses 6.2 % 5.4 % Other 1.3 % (4.1 )% Total 32.7 % 26.3 % The effective tax rate for 2018 was offset by true-ups to the prior year return and state rate changes of 6.6%. In addition, certain amounts associated with state tax permanent differences, previously reported under the caption “Other” in the effective tax rate reconciliation table above as of December 31, 2018, have been reclassified to conform to the December 31, 2019 presentation. The Company had gross unrecognized tax benefits of $4,000 and $5,000 as of December 31, 2019 The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years as indicated: 2019 2018 Balance as of January 1 $ 4,723 $ 4,723 Increase from current year tax positions — — Increase from prior years’ tax positions — — Decrease from settlements with taxing authority (723 ) — Decrease from expiration of statute of limitations — — Balance as of December 31 $ 4,000 $ 4,723 The Company accrues interest and penalties related to unrecognized tax benefits as interest expense and other general and administrative expenses, respectively, and not as a component of income taxes. Decreases in interest and penalties are due to settlements with taxing authorities and expiration of statutes of limitation. During the years ended December 31, 2019 December 31, 2019

Commitments and Contingencies R

Commitments and Contingencies Related to Discontinued Operations	12 Months Ended
	Dec. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]
Commitments and Contingencies Related to Discontinued Operations	Note 4 – Commitments and Contingencies Related to Discontinued Operations Discontinued operations represent former mining activities, the last of which ended in 2002. Pursuant to an agreement with the United States Environmental Protection Agency (the “EPA”), the Company performed certain remediation actions at a property sold over fifty years ago. This remediation work was completed by September 30, 2015. As of December 31, 2019 December 31, 2019 The remaining balance of the accrued remediation costs as of December 31, 2019

Property, Buildings and Equipme

Property, Buildings and Equipment	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Property, Buildings and Equipment	Note 5 – Property, Buildings and Equipment The following table presents the balances of major classes of properties as of December 31 as indicated: Estimated useful lives in years 2019 2018 Land — $ 2,047,449 $ 670,400 Land improvements 7 - 15 650,932 537,175 Buildings and improvements 5 - 40 2,815,440 2,767,603 Leasehold improvements 5 - 39 253,733 254,385 Machinery and equipment 2 - 10 100,988,697 87,734,262 Construction in progress — 221,896 23,313 Total 106,978,147 91,987,138 Less accumulated depreciation 51,904,568 43,060,083 Net properties, buildings and equipment $ 55,073,579 $ 48,927,055 Management reviews the net carrying value of all properties, buildings and equipment on a regular basis to assess and determine whether trigger events of impairment exist and the need for possible impairments. As a result of such review, no impairment write-down was considered necessary for the years ended December 31, 2019

401(k) Employee Benefits Plan

401(k) Employee Benefits Plan	12 Months Ended
	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
401(k) Employee Benefits Plan	Note 6 – 401(k) Employee Benefits Plan Effective January 1, 1995, the Company adopted The Goldfield Corporation and Subsidiaries Employee Savings and Retirement Plan, a defined contribution plan that qualifies under Section 401(k) of the Internal Revenue Code. The plan provides retirement benefits to all employees who meet eligibility requirements and elect to participate. Under the plan, participating employees may defer up to 75% of their pre-tax compensation per calendar year subject to Internal Revenue Code limits. The Company’s contributions to the plan are discretionary and amounted to approximately $340,000 and $258,000 for the years ended December 31, 2019

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Notes Payable	Note 7 – Notes Payable The following table presents the balances of our notes payables as of December 31 as indicated: Interest Rates Branch Banking and Trust Company, now known as Truist Bank Maturity Date 2019 2018 2019 2018 Working Capital Loan November 28, 2021 $ — $ 5,000,000 — % 4.31 % $38.2 Million Equipment Loan March 9, 2024 32,244,000 23,920,000 3.52 % 4.31 % $ 4.5 Million Equipment Loan March 7, 2024 — — — % — % Total notes payable 32,244,000 28,920,000 Less unamortized debt issuance costs 71,577 27,086 Total notes payable, net 32,172,423 28,892,914 Less current portion of notes payable, net 7,769,497 7,161,890 Notes payable net, less current portion $ 24,402,926 $ 21,731,024 As of December 31, 2019, the Company, and the Company’s wholly owned subsidiaries Southeast Power Corporation (“Southeast Power”), Pineapple House of Brevard, Inc. (“Pineapple House”), Bayswater Development Corporation (“Bayswater”), Power Corporation of America (“PCA”), Precision Foundations, Inc. (“PFI”) and C and C Power Line, Inc. (“C&C”), (collectively the “Debtors,”) were parties to a Master Loan Agreement, dated May 24, 2018 (the “2018 Master Loan Agreement”), with Branch Banking and Trust Company, now known as Truist Bank (the “Bank”), as amended on March 7, 2019 by the First Amendment to the 2018 Master Loan Agreement (the “Amendment”), and on December 6, 2019 by the Note Modification Agreement and related Addendum to Note Modification to the 2018 Master Loan Agreement (collectively, the “Ancillary Loan Document”). The Amendment provided an exhibit which lists new loans, or modifications of loans, which are governed by the 2018 Master Loan Agreement and which were also entered into on March 7, 2019. On January 1, 2019, the Company had a loan agreement with the Bank for a $27.49 Million equipment loan (the “$27.49 Equipment Loan”). On March 7, 2019, the Company, the Debtors and the Bank entered into a modification of the $27.49 Million Equipment Loan, increasing it to a $38.2 million equipment loan (as increased, the “$38.2 Million Equipment Loan”) and a new $4.5 million equipment promissory note (the “$4.5 Million Equipment Loan”). Borrowings of $22.7 million, outstanding as of March 7, 2019, plus accrued interest under the $27.49 Million Equipment Loan continue under the $38.2 Million Equipment Loan. The $15.5 million balance remaining on the $38.2 Million Equipment Loan was drawn by the Company on March 8, 2019 for equipment purchases that were made on or after August 1, 2018. Borrowings under the $38.2 Million Equipment Loan were $32.2 million as of December 31, 2019 and borrowings under the $27.49 Million Equipment Loan (as predecessor to the $38.2 Million Equipment Loan) were $23.9 million as of December 31, 2018. Under the documentation related to the $38.2 Million Equipment Loan, principal payments of $598,000 plus accrued interest commenced on March 9, 2019 and will continue monthly thereafter until and including the payment due on December 9, 2019. Thereafter, equal monthly principal payments of $650,000, plus accrued interest, will commence on January 9, 2020, and continue monthly thereafter until the March 9, 2024 maturity date. Under the documentation related to the $4.5 Million Equipment Loan, borrowings can be made only for the purchase of equipment currently held by the Company under master lease agreements and cannot exceed the cost of the lease buy-out. Interest only payments on any amounts drawn commenced on April 7, 2019, and continued monthly through and including the payment due on March 7, 2020. Principal payments on any amounts drawn of $93,750 plus accrued interest will commence on April 7, 2020, and continue monthly thereafter until and including the payment due on March 7, 2024. As of December 31, 2019 there were no borrowings under the $4.5 Million Equipment Loan. The Ancillary Loan Document increased the maximum amount of the revolving line of credit loan to be used as a “Working Capital Loan” (the “Working Capital Loan”) from $18.0 million to $23.0 million and changed the maturity of that loan from November 28, 2020 to November 28, 2021 Working Capital Loan, As a credit guarantor to the Bank, the Company is contingently liable for the guaranty of a subsidiary obligation under an irrevocable letter of credit related to workers’ compensation. The amount of this letter of credit was $0.6 million as of both December 31, 2019 and 2018. As of December 31, 2019, all loan agreements between the Debtors and the Bank, under the 2018 Master Loan Agreement, the Amendment and the Ancillary Loan Document are guaranteed by the Debtors and include the grant of a continuing security interest in all now owned and after acquired and wherever located personal property of the Debtors. On March 2, 2020, the Company drew the amount of $4.5 million under the $4.5 Million Equipment Loan. The Working Capital Loan, the $38.2 Million Equipment Loan and the $4.5 Million Equipment Loan each bear interest at a rate per annum equal to one month LIBOR (as defined in the documentation related to each loan) plus 1.80%, which will be adjusted monthly and subject to a maximum rate as described in the documentation related to each loan. The Company’s debt arrangements contain various financial and other covenants including, but not limited to: minimum tangible net worth, maximum debt to tangible net worth ratio and fixed charge coverage ratio. Other loan covenants prohibit, among other things, a change in legal form of the Company, and entering into a merger or consolidation. The loans also have cross-default provisions whereby any default under any loans of the Company (or its subsidiaries) with the Bank, will constitute a default under all of the other loans of the Company (and its subsidiaries) with the Bank. The schedule of payments of the notes payable as of December 31, 2019 2020 $ 7,800,000 2021 7,800,000 2022 7,800,000 2023 7,800,000 2024 1,044,000 Total payments of notes payable $ 32,244,000 Other Long Term Debt As of December 31, 2018, the Company had an equipment purchase loan agreement, maturing on June 14, 2021, for a specialty piece of equipment to be used in the Company’s electrical construction operations in the amount of $405,000 plus interest and sales tax. The agreement required monthly payments of $10,687 plus interest at a 5.85% fixed rate. On August 29, 2019, the Company paid the loan in full prior to its maturity.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 – Commitments and Contingencies Performance Bonds In certain circumstances, the Company is required to provide performance bonds to secure its contractual commitments. Management is not aware of any performance bond issued for the Company that has ever been called by a customer. As of December 31, 2019 Collective Bargaining Agreements C&C, one of the Company’s electrical construction subsidiaries, is party to collective bargaining agreements with unions representing workers performing field construction operations. The collective bargaining agreements expire at various times and have typically been renegotiated and renewed on terms similar to the ones contained in the expiring agreements. The agreements require the subsidiary to pay specified wages, provide certain benefits to their respective union employees and contribute certain amounts to multi-employer pension plans and employee benefit trusts. The subsidiary’s multi-employer pension plan contribution rates generally are specified in the collective bargaining agreements (usually on an annual basis), and contributions are made to the plans on a “pay-as-you-go” basis based on such subsidiary’s union employee payrolls, which cannot be determined for future periods because contributions depend on, among other things, the number of union employees that such subsidiary employs at any given time; the plans in which it may participate vary depending on the projects it has ongoing at any time; and the need for union resources in connection with those projects. If the subsidiary withdraws from, or otherwise terminates its participation in, one or more multi-employer pension plans, or if the plans were to otherwise become substantially underfunded, such subsidiary could be assessed liabilities for additional contributions related to the underfunding of these plans. The Company is not aware of any amounts of withdrawal liability that have been incurred as a result of a withdrawal by C&C from any multi-employer defined benefit pension plans. Multi-employer Pension Plans The Company contributes to a multi-employer pension plan on behalf of employees covered by collective bargaining agreements. These plans are administered jointly by management and union representatives and cover substantially all full-time and certain part-time union employees who are not covered by other plans. The risks of participating in multi-employer plans are different from single-employer plans in the following aspects: (1) assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers, (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers, and (3) if the Company chooses to stop participating in a multi-employer plan, we could, under certain circumstances, be liable for unfunded vested benefits or other expenses of jointly administered union/management plans. At this time, we have not established any liabilities because withdrawal from these plans is not probable. For the years ended December 31, 2019 The Company’s participation in multi-employer pension plans is outlined in the table below. The EIN column provides the Employer Identification Number (“EIN”) of the plan. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2019 and 2018 is for the plan’s year ended December 31, 2019 Information about the Plan is publicly available on Form 5500, Annual Return / Report of Employee Benefit Plan. The Plan year-end is December 31st and no single employer contributes 5% or more of total plan contributions. Certified Zone Status Plan Name EIN Number Plan Number 2019 2018 FIP Implemented (yes or no) Surcharge Imposed (yes or no) Expiration Date Of Collective Bargaining Agreement National Electrical Benefit Fund 53-0181657 001 Green Green Not applicable (green-zone plan) Not applicable (green-zone plan) 8/31/2023 Committed Expenditures The Company from time to time commits to various contractual agreements that secure future rights to goods, services and other items to be used in the normal course of operations. These commitments include capital equipment purchases, sub-contractor services for the construction of residential properties and land purchases for the future construction of residential properties. Legal Proceedings The Company is involved in various legal claims arising in the ordinary course of business. The Company has concluded that the ultimate disposition of these matters should not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity. The Company expenses legal fees as incurred.

Income Per Share of Common Stoc

Income Per Share of Common Stock	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Income Per Share of Common Stock	Basic income per common share is computed by dividing net income by the weighted average number of common stock shares outstanding during the period. Diluted income per share reflects the potential dilution that could occur if common stock equivalents, such as stock options outstanding, were exercised into common stock that subsequently shared in the earnings of the Company. As of December 31, 2019 December 31, 2019

Common Stock Repurchase Plan

Common Stock Repurchase Plan	12 Months Ended
	Dec. 31, 2019
Common Stock Repurchase Plan [Abstract]
Common Stock Repurchase Plan	Note 10 – Common Stock Repurchase Plan The Company has had a stock repurchase plan since September 17, 2002, when the Board of Directors approval was announced. As last amended by the Board of Directors on March 7, 2019, this plan permits the purchase of up to 6,000,000 shares. There is currently available for purchase through September 30, 2020, a maximum of 2,726,120 shares. The Company may repurchase its shares either in the open market or through private transactions. The volume of the shares to be repurchased is contingent upon market conditions and other factors. During the year ended December 31, 2019 December 31, 2019

Business Segment, Business Cred

Business Segment, Business Credit Risks and Concentration	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Business Segment, Business Credit Risks and Concentration	Note 11 – Business Segment, Business Credit Risks and Concentration Segment The Company is currently involved in two segments, electrical construction and real estate development. There were no material amounts of sales or transfers between segments and no material amounts of foreign sales. Any inter-segment sales have been eliminated. The following table sets forth certain segment information as of December 31 for the years indicated: 2019 2018 Continuing Operations Revenue Electrical construction 167,779,823 136,526,511 Real estate development 12,865,895 1,622,331 Total revenue $ 180,645,718 $ 138,148,842 Operating expenses Electrical construction 152,660,559 123,914,953 Real estate development 11,106,477 1,924,835 Corporate 5,663,131 4,745,350 Total operating expenses $ 169,430,167 $ 130,585,138 Operating income (loss) Electrical construction 15,119,264 12,611,558 Real estate development 1,759,418 (302,504 ) Corporate (5,663,131 ) (4,745,350 ) Total operating income $ 11,215,551 $ 7,563,704 Other (expenses) income, net Electrical construction (1,362,917 ) (761,117 ) Real estate development (5,498 ) (56,010 ) Corporate 142,844 78,120 Total other expenses, net $ (1,225,571 ) $ (739,007 ) Net income (loss) before taxes Electrical construction 13,756,347 11,850,441 Real estate development 1,753,920 (358,514 ) Corporate (5,520,287 ) (4,667,230 ) Total net income before taxes $ 9,989,980 $ 6,824,697 Capital Expenditures Electrical construction 18,799,010 19,514,124 Real estate development 116,497 42,545 Corporate 938,961 52,576 Total $ 19,854,468 $ 19,609,245 Depreciation and Amortization Electrical construction 10,718,202 8,319,362 Real estate development 26,950 21,279 Corporate 101,182 96,331 Total $ 10,846,334 $ 8,436,972 Operating income (loss) equals total operating revenue less operating costs and expenses inclusive of depreciation and amortization, and selling, general and administrative expenses. Operating costs and expenses also include any gains or losses on the sale of property and equipment. Operating income (loss) excludes interest expense, interest income, other income and income taxes. Certain amounts associated with deferred income tax assets allocated in each segment were reflected as of December 31, 2018 in the assets table below and have been reclassified to the Corporate segment to conform to the total assets presentation as of December 31, 2019. This reclassification had no impact on the total assets reported as of December 31, 2018. The following table sets forth assets by segment as of the dates indicated: Assets December 31, 2019 December 31, 2018 Electrical construction 111,064,071 93,625,017 Real estate development 7,578,440 14,557,323 Corporate 10,724,667 4,366,135 Total $ 129,367,178 $ 112,548,475 Credit Risks Financial instruments, mainly within the electrical construction operations, which potentially subject the Company to concentrations of credit risk, consist principally of accounts receivable and accrued billings in the amounts of $23.9 million and $22.2 million as of December 31, 2019 Cash and Cash Equivalents The Company holds cash on deposit in U.S. banks, in excess of Federal Deposit Insurance Corporation insurance limits. The Company has not experienced and does not anticipate any losses in any such accounts. Customer Concentration Revenue to customers exceeding 10% of the Company’s total revenue for the years ended December 31 as indicated are as follows: 2019 2018 Amount % of Total revenue Amount % of Total revenue Electrical construction operations Customer A $ 48,771,790 27.0 % $ 39,866,379 28.9 % Customer B 26,276,755 14.5 % 22,085,201 16.0 % Customer C 22,765,933 12.6 % — — % Customer D — — % 16,971,598 12.3 % Total 54.1 % 57.2 % Revenue by service/product for the years ended December 31 as indicated are as follows: 2019 2018 Amount % of Total revenue Amount % of Total revenue Electrical construction Principal electrical construction operations (1) $ 165,283,100 92 % $ 129,021,508 93 % Other electrical construction (2) 2,496,723 1 % 7,505,003 6 % Total 167,779,823 93 % 136,526,511 99 % Real estate development 12,865,895 7 % 1,622,331 1 % Total revenue $ 180,645,718 100.00 % $ 138,148,842 100.00 % ______________________________________ (1) Principal electrical construction operations include revenue from transmission lines, distribution systems, substations and drilled pier foundations. (2)

Restricted Cash

Restricted Cash	12 Months Ended
	Dec. 31, 2019
Restricted Cash And Investments [Abstract]
Restricted Cash	Note 12 – Restricted Cash Restricted cash, reported under “Deferred charges and other assets” on the Company’s consolidated balance sheet, represents amounts deposited in a trust account to secure the Company’s obligations in connection with the Company’s previous workers’ compensation insurance policies. On September 12, 2019 the Company was reimbursed the cash deposited and classified as restricted cash. Therefore, as of December 31, 2019, the Company holds no restricted cash on its consolidated balance sheet. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows as of the dates indicated: December 31, 2019 December 31, 2018 Cash and cash equivalents $ 23,272,156 $ 11,376,373 Restricted cash — 25,980 Cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 23,272,156 $ 11,402,353

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets Associated with the Acquisition of C&C	12 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets Associated with the Acquisition of C&C	Note 13 – Goodwill and Other Intangible Assets Associated with the Acquisition of C&C The Company performed an annual impairment assessment on its goodwill and intangible assets on December 31, 2019 The following table presents the gross and net balances of our goodwill and intangible assets as of the dates indicated: December 31, 2019 December 31, 2018 Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Indefinite-lived and non-amortizable acquired intangible assets Goodwill Indefinite $ 101,407 $ — $ 101,407 $ 101,407 $ — $ 101,407 Definite-lived and amortizable acquired intangible assets Trademarks/Names 15 $ 640,000 $ (256,001 ) $ 383,999 $ 640,000 $ (213,334 ) $ 426,666 Customer relationships 20 350,000 (105,000 ) 245,000 350,000 (87,500 ) 262,500 Non-competition agreement 5 10,000 (10,000 ) — 10,000 (10,000 ) — Other 1 13,800 (13,800 ) — 13,800 (13,800 ) — Total $ 1,013,800 $ (384,801 ) $ 628,999 $ 1,013,800 $ (324,634 ) $ 689,166 Amortization of definite-lived intangible assets will be approximately $0.06 million annually for 2020 through 2024.

ASC 606 Revenue Recognition and

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Contract Assets and Contract Liabilities	Note 2 – Contract Assets and Contract Liabilities On January 1, 2018 the Company adopted accounting standard ASC 606 and all the related amendments (the “revenue standard”) to all applicable contracts using the modified retrospective method. Applicable contracts did not include contracts considered substantially complete. Contracts that were modified before the beginning of the earliest period presented were not retrospectively restated. Instead, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price as of the date of adoption. Adoption of this standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. The following table presents the net contract assets and liabilities for the electrical construction operations as of the dates indicated: December 31, 2019 December 31, 2018 $ Change Contract assets (1) $ 9,321,368 $ 12,030,000 $ (2,708,632 ) Contract liabilities (2) (1,008,679 ) (1,845,049 ) 836,370 Net contract assets $ 8,312,689 $ 10,184,951 $ (1,872,262 ) ______________________________________ (1) Contract assets consist of amounts under the caption “Costs and estimated earnings in excess of billings on uncompleted contracts.” (2) Contract liabilities consist of the aggregate of amounts presented under the caption “Billings in excess of costs and estimated earnings on uncompleted contracts” and any contract loss accruals included in “Accounts payable and accrued liabilities.” The amounts billed but not paid by customers pursuant to retention provisions of the electrical construction contracts were $2.8 million and $2.2 million as of December 31, 2019 The following table presents the changes in the net contract assets and liabilities for the electrical construction operations for the twelve months ended December 31, 2019 $ Change Twelve Months Ended December 31, 2019 Cumulative adjustment due to changes in contract values (1) $ 2,260,795 Cumulative adjustment due to changes in estimated costs at completion (4,127,610 ) Revenue recognized in the period 128,656,865 Amounts reclassified to receivables (129,065,172 ) Impairment of contract assets (2) 402,860 Total $ (1,872,262 ) ______________________________________ (1) Amount attributable to contract modifications accounted for on a cumulative catch-up basis where the customer has approved a change in the scope or price of the contract, where the modification is treated as part of the existing contract and where the remaining goods and services are not distinct. (2) For the year ended December 31, 2019 Note 14 – ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures On January 1, 2018, the Company adopted revenue standard ASC 606 and all the related amendments (the “revenue standard”). Adoption of this standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. The Company concluded that the cumulative effect of initially applying the revenue standard was immaterial and consequently did not record an adjustment to the opening balance of retained earnings. To determine the proper revenue recognition method for contracts for electrical construction services, the Company evaluates whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment and the decision to combine a group of contracts or separate the combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. For most of the contracts, the Company provides a significant service of integrating a complex set of tasks and components into a single project or capability. Hence, the entire contract is accounted for as one performance obligation. However, less likely, if a contract is separated into more than one performance obligation, the Company allocates the total transaction price for each performance obligation in an amount based on the estimated relative stand-alone selling prices of the promised goods or services underlying each performance obligation. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company generally recognizes revenue over time as it performs because of continuous transfer of control to the customer. Because of control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The cost-to-cost measure of progress is generally used for its contracts because it best depicts the transfer of control to the customer which occurs as the Company incurs costs on the contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenue is recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on many of the performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. The Company estimates variable consideration at the most likely amount which the Company expects to receive. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of all information (historical, current and forecasted) that is reasonably available to the Company. Contracts are often modified to account for changes in contract specifications and requirements. The Company considers contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Most of the contract modifications are for goods or services that are not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as if they were part of that existing contract. The effect of a contract modification on the transaction price and our measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. The Company has a standard and disciplined quarterly estimated costs at completion process in which management reviews the progress and execution of our performance obligations. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), and execution by our subcontractors, among other variables. Based on this analysis, any quarterly adjustments to net revenue, cost of electrical construction revenue and the related impact to operating income are recognized as necessary in the period they become known. The following table disaggregates the Company’s revenue for the years ended December 31 as indicated: 2019 2018 Electrical construction operations (1) Southeast $ 69,558,248 $ 54,123,848 mid-Atlantic 50,406,022 41,071,994 Texas-Southwest 45,318,830 33,825,666 Other electrical construction (2) 2,496,723 7,505,003 Total electrical construction operations 167,779,823 136,526,511 Real estate development operations 12,865,895 1,622,331 Total revenue $ 180,645,718 $ 138,148,842 ______________________________________ (1) (2) The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of December 31, 2019

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Note 15 – Leases In February 2016, the FASB issued ASC 842 to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). On January 1, 2019, the Company adopted the accounting pronouncement issued using the modified retrospective method. The Company elected the “package of practical expedients” permitted under the transition guidance within the new standard, which among other things, allowed the Company to carry forward the historical lease classification. In addition, the Company elected not to utilize the hindsight practical expedient to determine the lease term for existing leases. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company did not recognize right-of-use assets or lease liabilities, including not recognizing right-of-use assets or lease liabilities for existing short-term leases of those assets in transition. The Company also elected the practical expedient to not separate lease and non-lease components. Adoption of the new standard resulted in the recording of additional operating right-of-use assets and operating lease liabilities of approximately $4.3 million and $4.3 million, respectively, as of January 1, 2019. The adoption of this standard did not impact the Company’s retained earnings liquidity, results of operations or its compliance with its debt covenants. The Company modified existing controls and processes to support the adoption of the new lease accounting standard that the Company adopted as of January 1, 2019. From time to time, the Company enters into leases primarily for the electrical construction operation’s equipment needs and to a lesser extent office facilities. These leases allow the Company to conserve cash by paying a monthly lease rental fee for the use of equipment rather than purchasing them. The Company’s leases have remaining terms ranging from months to seven years, some of which may include options to extend the lease term. Currently, all of the Company’s leases contain fixed payment terms. Additionally, all of our month-to-month leases are cancelable by the Company, at any time and are not included in our right-of-use asset or liability. At December 31, 2019, the Company had no leases with residual value guarantees. Typically, the Company has purchase options on the equipment underlying its long-term leases and many of its short-term rental arrangements. The Company has concluded that it is not reasonably certain that such options will be exercised as the Company does not have a compelling economic reason at lease commencement to exercise the option. However, the Company may exercise some of these purchase options when the need for equipment is on-going and the purchase option price is attractive. Financing Leases The Company currently does not have any leases that are classified as financing leases under ASC 842 Leases. Operating Right-of-Use Leases Operating right-of-use leases are reported under “Operating on the Company’s consolidated balance sheet reported under “ The following table presents a summary of the Company’s lease assets and lease liabilities as of December 31, 2019: Classification December 31, 2019 Lease Assets Operating lease assets Operating lease right-of-use assets $ 6,861,099 Lease Liabilities Current operating lease liabilities Current portion of operating lease liability $ 1,880,957 Non-current operating lease liabilities Other accrued liabilities 4,987,088 Total lease liabilities $ 6,868,045 The total weighted-average incremental borrowing rate and remaining lease term for the Company’s operating leases was 4.05% and 5.66 years, respectively, as of December 31, 2019. Operating lease costs for the twelve months ended December 31, 2019 and 2018 were $3.7 million and $4.7 million, respectively and approximate the cash payments for these periods. The following table presents the Company’s maturity analysis of its operating lease liabilities as of December 31, 2019 December 31, 2019 2020 $ 1,916,250 2021 1,112,792 2022 1,098,487 2023 1,055,010 2024 and beyond 2,547,044 Total lease payments $ 7,729,583 Less: interest (861,538 ) Present value of lease liabilities $ 6,868,045 The following table presents the Company’s maturity analysis of its operating lease liabilities as of December 31, 2018 2019 $ 3,613,980 2020 910,778 2021 88,469 2022 and beyond 114,466 Total minimum operating lease payments $ 4,727,693

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Overview and Basis of Financial Statement Presentation	Overview The Goldfield Corporation (the “Company”) was incorporated in Wyoming in 1906 and subsequently reincorporated in Delaware in 1968. The Company’s principal line of business is the construction of electrical infrastructure for the utility industry and industrial customers and to a lesser extent real estate development. The principal market for the Company’s electrical construction operation is primarily in the Southeast, mid-Atlantic and Texas-Southwest regions of the United States. The principal market for the Company’s real estate development operation is along the east coast of Central Florida. Basis of Financial Statement Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company adopted Accounting Standards Updates (“ASU”) ASU 2011-05 and ASU 2011-12, which require comprehensive income to be reported in either a single statement or in two consecutive statements reporting net income and other comprehensive income. The amendment eliminates the option to report other comprehensive income and its components in the statement of changes in stockholders’ equity. However, comprehensive income is equivalent to net income for the Company, and therefore, the Company’s accompanying financial statements do not include a Statement of Other Comprehensive Income.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers highly liquid investments with maturities of three months or less when purchased to be cash equivalents.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on customer specific information and historical write-off experience. The Company reviews its allowance for doubtful accounts quarterly. Account balances are charged off against the allowance after reasonable means of collection have been exhausted and the potential for recovery is considered remote. As of both December 31, 2019
Property, Buildings, Equipment and Depreciation	Property, Buildings, Equipment and Depreciation Property, buildings and equipment are stated at cost. Depreciation on property, buildings and equipment is calculated on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated on a straight-line basis over the shorter of the lease term, including renewals that are deemed to be reasonably assured, or the estimated useful life of the improvement. In accordance with Accounting Standard Codification (“ASC”) ASC Topic 360-10-05, Accounting for the Impairment or Disposal of Long-Lived Assets
Electrical Construction Revenue	Electrical Construction Revenue On January 1, 2018 the Company adopted accounting standard ASC 606 and all the related amendments (the “revenue standard”) to all applicable contracts using the modified retrospective method (cumulative effect method). Applicable contracts did not include contracts considered substantially complete. Contracts that were modified before the beginning of the earliest period presented were not retrospectively restated. Instead, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price as of the date of adoption. Adoption of the revenue standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. In addition, the Company concluded that the cumulative effect of initially applying the revenue standard was immaterial and consequently did not record an adjustment to the opening balance of retained earnings. The adoption of the revenue standard did not have a material impact to its financial position, results of operations and cash flows on an ongoing basis. Revenue from unit-price contracts is recognized over time as services are performed and the underlying obligations to customers are fulfilled. The Company’s contracts allow it to bill additional amounts for change orders and claims. The Company considers a claim to be for additional work performed outside the scope of the contract and contested by the customer. Historically, claims relating to electrical construction work have not been significant. A change order is a modification to a contract that changes the provisions of the contract, typically resulting from changes in scope, specifications, design, manner of performance, facilities, equipment, materials, sites, or period of completion of the work under the contract. It is the Company’s policy to include revenue from change orders in contract value only when they can be reliably estimated and realization is considered probable. The asset, “costs and estimated earnings in excess of billings on uncompleted contracts” represents revenue recognized in excess of amounts billed. The liability, “billings in excess of costs and estimated earnings on uncompleted contracts” represents billings in excess of revenue recognized. Contract costs include all direct material, direct labor, subcontractor costs and indirect costs related to contract performance, such as supplies, tools and equipment maintenance. General and administrative costs are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, estimated profitability and final contract settlements may result in revisions to costs and income and are recognized in the period in which the revisions are determined.
Real Estate Development Operations Revenue	Real Estate Development Operations Revenue There were no material changes in the pattern of revenue recognition for real estate development operations after the adoption of the revenue standard on January 1, 2018. The Company recognizes revenue upon the transfer of control of the promised real estate properties, generally at time of closing.
Land and Land Development Costs and Residential Properties Under Construction	Land and Land Development Costs and Residential Properties Under Construction The costs of a land purchase and any development expenses up to the initial construction phase of any residential property development project are recorded under the asset “land and land development costs.” Once construction commences, both the land development costs and construction costs are recorded under the asset “residential properties under construction.” The assets “land and land development costs” and “residential properties under construction” relating to specific projects are recorded as current assets when the estimated project completion date is less than one year from the date of the consolidated financial statements, or as non-current assets when the estimated project completion date is one year or more from the date of the consolidated financial statements. In accordance with ASC 360-10, Accounting for the Impairment or Disposal of Long-lived Assets Fair Value Measurement December 31, 2019
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes, The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as interest expense and other general and administrative expenses, respectively, and not as a component of income taxes.
Executive Long-term Incentive Plan	Executive Long-term Incentive Plan The Company has not issued shares pursuant to The Goldfield Corporation 2013 Long-term Incentive Plan (the “2013 Plan”) in either 2019 or 2018. Therefore, the Company has no compensation expense for shares pursuant to the 2013 Plan for either of the years ended December 31, 2019
Use of Estimates	Use of Estimates Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”). Actual results could differ from those estimates. Management considers the most significant estimates in preparing these consolidated financial statements to be the estimated costs at completion of electrical construction contracts in progress.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, accounts receivable and accrued billings, restricted cash collateral deposited with insurance carriers, cash surrender value of life insurance policies, accounts payable, notes payable, and other current liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value guidance establishes a valuation hierarchy, which requires maximizing the use of observable inputs when measuring fair value. The three levels of inputs that may be used are: Level 1 - Quoted market prices in active markets for identical assets or liabilities. Level 2 - Observable market based inputs or other observable inputs. Level 3 - Significant unobservable inputs that cannot be corroborated by observable market data. These values are generally determined using valuation models incorporating management’s estimates of market participant assumptions. Fair values of financial instruments are estimated through the use of public market prices, quotes from financial institutions, and other available information. Management considers the carrying amounts reported on the consolidated balance sheets for cash and cash equivalents, accounts receivable and accrued billings, accounts payable and accrued liabilities, to approximate fair value due to the immediate or short-term maturity of these financial instruments. The Company’s carrying value of long-term notes payable are estimated by management to approximate fair value since the interest rates prescribed by Branch Banking and Trust Company, now known as Truist Bank (the “Bank”), are variable market interest rates and are adjusted periodically, and as such, are classified as Level 2. The carrying value of cash surrender value of life insurance is also considered by management to approximate fair value as the carrying value is based on the current settlement value under the contract, as provided by the carrier and as such, is classified as Level 2.
Restricted Cash	Restricted Cash The Company’s restricted cash includes cash deposited in a secured interest bearing bank account, as required by the Collateral Trust Agreement in connection with the Company’s previous workers’ compensation insurance policies, as described in note 12. On September 12, 2019, the Company was reimbursed the cash deposited and classified as restricted cash. Therefore, as of December 31, 2019
Goodwill and Intangible Assets	Goodwill and Intangible Assets Intangible assets with finite useful lives recorded in connection with a historical acquisition are amortized over the term of the related contract or useful life, as applicable. Intangible assets held by the Company with finite useful lives include customer relationships and trademarks. The Company reviews the values recorded for intangible assets and goodwill to assess recoverability from future operations annually or whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. As of December 31, 2019
Reclassifications	Reclassifications Certain amounts associated with deferred income tax assets allocated in each segment were reflected as of December 31, 2018 in the assets table within note 11 Business Segment Information and have been reclassified to conform to the total assets presentation as of December 31, 2019. This reclassification had no impact on the total assets reported as of December 31, 2018. In addition, within note 3 Income Taxes, certain amounts associated with state tax permanent differences, previously reported under the caption “Other” in the effective tax rate reconciliation table as of December 31, 2018, have been reclassified to conform to the December 31, 2019 presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Codification Topic 842, Leases The Company elected the “package of practical expedients” permitted under the transition guidance within the new standard, which among other things, allowed the Company to carry forward the historical lease classification. In addition, the Company elected not to utilize the hindsight practical expedient to determine the lease term for existing leases. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company did not recognize right-of-use assets or lease liabilities, including not recognizing right-of-use assets or lease liabilities for existing short-term leases of those assets in transition. The Company also elected the practical expedient to not separate lease and non-lease components. Leases In January 2017, the FASB issued ASU 2017-04, which eliminates Step 2 of the current goodwill impairment test. A goodwill impairment loss will instead be measured at the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the recorded amount of goodwill allocated to that reporting unit. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The Company is currently assessing the impact that adoption will have on its consolidated financial statements: however, the Company does not expect this ASU to have a significant impact on its consolidated financial statements. In June 2016 the FASB issued ASU-2016-13, Financial Instruments – Credit Losses. This update requires immediate recognition of management’s estimates of current expected credit losses. This update is effective for the Company in the first quarter of fiscal year 2020. The adoption of ASU 2016-13 is not expected to have a significant impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU-2019-12, Income Taxes: Simplifying the Accounting for Income Taxes, effective beginning fiscal year 2021. This update simplifies the accounting for interim period tax law changes and loss limitations, ownership changes in equity investments, intraperiod tax allocations and the step up of tax basis in goodwill that is not acquired during a business combination. The adoption of ASU-2019-12 is not expected to have a significant impact on the Company’s consolidated financial statements.

Contract Assets and Contract _2

Contract Assets and Contract Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Contract with Customer, Asset and Liability	The following table presents the net contract assets and liabilities for the electrical construction operations as of the dates indicated: December 31, 2019 December 31, 2018 $ Change Contract assets (1) $ 9,321,368 $ 12,030,000 $ (2,708,632 ) Contract liabilities (2) (1,008,679 ) (1,845,049 ) 836,370 Net contract assets $ 8,312,689 $ 10,184,951 $ (1,872,262 ) ______________________________________ (1) Contract assets consist of amounts under the caption “Costs and estimated earnings in excess of billings on uncompleted contracts.” (2) Contract liabilities consist of the aggregate of amounts presented under the caption “Billings in excess of costs and estimated earnings on uncompleted contracts” and any contract loss accruals included in “Accounts payable and accrued liabilities.” The following table presents the changes in the net contract assets and liabilities for the electrical construction operations for the twelve months ended December 31, 2019 $ Change Twelve Months Ended December 31, 2019 Cumulative adjustment due to changes in contract values (1) $ 2,260,795 Cumulative adjustment due to changes in estimated costs at completion (4,127,610 ) Revenue recognized in the period 128,656,865 Amounts reclassified to receivables (129,065,172 ) Impairment of contract assets (2) 402,860 Total $ (1,872,262 ) ______________________________________ (1) Amount attributable to contract modifications accounted for on a cumulative catch-up basis where the customer has approved a change in the scope or price of the contract, where the modification is treated as part of the existing contract and where the remaining goods and services are not distinct. (2)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of income tax provision from continuing operations	The following table presents the income tax provision from continuing operations for the years ended December 31 as indicated: 2019 2018 Current Federal $ (13,164 ) $ (153,610 ) State 334,307 597,909 321,143 444,299 Deferred Federal 2,638,158 1,779,574 State 304,072 (426,927 ) 2,942,230 1,352,647 Total $ 3,263,373 $ 1,796,946 The following table presents the total income tax provision for the years ended December 31 as indicated: 2019 2018 Income tax provision $ 3,263,373 $ 1,796,946 Discontinued operations — — Total $ 3,263,373 $ 1,796,946
Schedule of deferred tax assets and liabilities	The following table presents the temporary differences and carryforwards, which give rise to deferred tax assets and liabilities as of December 31 as indicated: 2019 2018 Deferred tax assets Accrued vacation $ 171,391 $ 139,713 Acquisition costs capitalized 50,450 55,917 Accrued remediation costs 115,000 120,493 Net operating loss carryforwards 925,774 435,121 Sec 163(j) interest limitation — 199,582 Federal depreciation in excess of state 813,542 635,202 Accrued payables 62,721 17,914 Percentage completed contract method for tax 90,241 1,557,437 Accrued workers’ compensation 90,795 205,150 Capitalized bidding costs 86,112 73,565 Inventory adjustments 141,838 263,680 Lease liability 1,677,962 15,199 Accrued contract losses 67,190 164,843 Other 5,152 4,097 Total deferred tax assets 4,298,168 3,887,913 Deferred tax liabilities 481 (a) adjustment for deferred revenue — (24,602 ) Tax amortization in excess of financial statement amortization (17,347 ) (13,378 ) Tax depreciation in excess of financial statement depreciation (11,624,772 ) (9,910,975 ) Right-of-use assets (1,664,814 ) — Total deferred tax liabilities (13,306,933 ) (9,948,955 ) Total net deferred tax liabilities $ (9,008,765 ) $ (6,061,042 )
Reconciliation of effective and statutory tax rates from continuing operations	The following table presents the differences between the Company’s effective income tax rate and the federal statutory rate on income from continuing operations for the years ended December 31 2019 2018 Federal statutory rate 21.0 % 21.0 % State tax rate, net of federal tax 4.2 % 4.0 % Nondeductible expenses 6.2 % 5.4 % Other 1.3 % (4.1 )% Total 32.7 % 26.3 %
Reconciliation of beginning and ending unrecognized tax benefits	The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years as indicated: 2019 2018 Balance as of January 1 $ 4,723 $ 4,723 Increase from current year tax positions — — Increase from prior years’ tax positions — — Decrease from settlements with taxing authority (723 ) — Decrease from expiration of statute of limitations — — Balance as of December 31 $ 4,000 $ 4,723

Property, Buildings and Equip_2

Property, Buildings and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Property, Buildings and Equipment	The following table presents the balances of major classes of properties as of December 31 as indicated: Estimated useful lives in years 2019 2018 Land — $ 2,047,449 $ 670,400 Land improvements 7 - 15 650,932 537,175 Buildings and improvements 5 - 40 2,815,440 2,767,603 Leasehold improvements 5 - 39 253,733 254,385 Machinery and equipment 2 - 10 100,988,697 87,734,262 Construction in progress — 221,896 23,313 Total 106,978,147 91,987,138 Less accumulated depreciation 51,904,568 43,060,083 Net properties, buildings and equipment $ 55,073,579 $ 48,927,055

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	The following table presents the balances of our notes payables as of December 31 as indicated: Interest Rates Branch Banking and Trust Company, now known as Truist Bank Maturity Date 2019 2018 2019 2018 Working Capital Loan November 28, 2021 $ — $ 5,000,000 — % 4.31 % $38.2 Million Equipment Loan March 9, 2024 32,244,000 23,920,000 3.52 % 4.31 % $ 4.5 Million Equipment Loan March 7, 2024 — — — % — % Total notes payable 32,244,000 28,920,000 Less unamortized debt issuance costs 71,577 27,086 Total notes payable, net 32,172,423 28,892,914 Less current portion of notes payable, net 7,769,497 7,161,890 Notes payable net, less current portion $ 24,402,926 $ 21,731,024
Schedule of debt maturity payments	The schedule of payments of the notes payable as of December 31, 2019 2020 $ 7,800,000 2021 7,800,000 2022 7,800,000 2023 7,800,000 2024 1,044,000 Total payments of notes payable $ 32,244,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Schedule of multi-employer pension plans	Certified Zone Status Plan Name EIN Number Plan Number 2019 2018 FIP Implemented (yes or no) Surcharge Imposed (yes or no) Expiration Date Of Collective Bargaining Agreement National Electrical Benefit Fund 53-0181657 001 Green Green Not applicable (green-zone plan) Not applicable (green-zone plan) 8/31/2023

Business Segment, Business Cr_2

Business Segment, Business Credit Risks and Concentration (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table sets forth certain segment information as of December 31 for the years indicated: 2019 2018 Continuing Operations Revenue Electrical construction 167,779,823 136,526,511 Real estate development 12,865,895 1,622,331 Total revenue $ 180,645,718 $ 138,148,842 Operating expenses Electrical construction 152,660,559 123,914,953 Real estate development 11,106,477 1,924,835 Corporate 5,663,131 4,745,350 Total operating expenses $ 169,430,167 $ 130,585,138 Operating income (loss) Electrical construction 15,119,264 12,611,558 Real estate development 1,759,418 (302,504 ) Corporate (5,663,131 ) (4,745,350 ) Total operating income $ 11,215,551 $ 7,563,704 Other (expenses) income, net Electrical construction (1,362,917 ) (761,117 ) Real estate development (5,498 ) (56,010 ) Corporate 142,844 78,120 Total other expenses, net $ (1,225,571 ) $ (739,007 ) Net income (loss) before taxes Electrical construction 13,756,347 11,850,441 Real estate development 1,753,920 (358,514 ) Corporate (5,520,287 ) (4,667,230 ) Total net income before taxes $ 9,989,980 $ 6,824,697 Capital Expenditures Electrical construction 18,799,010 19,514,124 Real estate development 116,497 42,545 Corporate 938,961 52,576 Total $ 19,854,468 $ 19,609,245 Depreciation and Amortization Electrical construction 10,718,202 8,319,362 Real estate development 26,950 21,279 Corporate 101,182 96,331 Total $ 10,846,334 $ 8,436,972
Summary of Assets by Segment	The following table sets forth assets by segment as of the dates indicated: Assets December 31, 2019 December 31, 2018 Electrical construction 111,064,071 93,625,017 Real estate development 7,578,440 14,557,323 Corporate 10,724,667 4,366,135 Total $ 129,367,178 $ 112,548,475
Schedule of Concentration Risk	Revenue to customers exceeding 10% of the Company’s total revenue for the years ended December 31 as indicated are as follows: 2019 2018 Amount % of Total revenue Amount % of Total revenue Electrical construction operations Customer A $ 48,771,790 27.0 % $ 39,866,379 28.9 % Customer B 26,276,755 14.5 % 22,085,201 16.0 % Customer C 22,765,933 12.6 % — — % Customer D — — % 16,971,598 12.3 % Total 54.1 % 57.2 % Revenue by service/product for the years ended December 31 as indicated are as follows: 2019 2018 Amount % of Total revenue Amount % of Total revenue Electrical construction Principal electrical construction operations (1) $ 165,283,100 92 % $ 129,021,508 93 % Other electrical construction (2) 2,496,723 1 % 7,505,003 6 % Total 167,779,823 93 % 136,526,511 99 % Real estate development 12,865,895 7 % 1,622,331 1 % Total revenue $ 180,645,718 100.00 % $ 138,148,842 100.00 % ______________________________________ (1) Principal electrical construction operations include revenue from transmission lines, distribution systems, substations and drilled pier foundations. (2)

Restricted Cash (Tables)

Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2019
Restricted Cash And Investments [Abstract]
Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows as of the dates indicated: December 31, 2019 December 31, 2018 Cash and cash equivalents $ 23,272,156 $ 11,376,373 Restricted cash — 25,980 Cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 23,272,156 $ 11,402,353

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets Associated with the Acquisition of C&C (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table presents the gross and net balances of our goodwill and intangible assets as of the dates indicated: December 31, 2019 December 31, 2018 Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Indefinite-lived and non-amortizable acquired intangible assets Goodwill Indefinite $ 101,407 $ — $ 101,407 $ 101,407 $ — $ 101,407 Definite-lived and amortizable acquired intangible assets Trademarks/Names 15 $ 640,000 $ (256,001 ) $ 383,999 $ 640,000 $ (213,334 ) $ 426,666 Customer relationships 20 350,000 (105,000 ) 245,000 350,000 (87,500 ) 262,500 Non-competition agreement 5 10,000 (10,000 ) — 10,000 (10,000 ) — Other 1 13,800 (13,800 ) — 13,800 (13,800 ) — Total $ 1,013,800 $ (384,801 ) $ 628,999 $ 1,013,800 $ (324,634 ) $ 689,166

ASC 606 Revenue Recognition a_2

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates the Company’s revenue for the years ended December 31 as indicated: 2019 2018 Electrical construction operations (1) Southeast $ 69,558,248 $ 54,123,848 mid-Atlantic 50,406,022 41,071,994 Texas-Southwest 45,318,830 33,825,666 Other electrical construction (2) 2,496,723 7,505,003 Total electrical construction operations 167,779,823 136,526,511 Real estate development operations 12,865,895 1,622,331 Total revenue $ 180,645,718 $ 138,148,842 ______________________________________ (1) (2)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Summary of Lease Assets and Lease Liabilities	The following table presents a summary of the Company’s lease assets and lease liabilities as of December 31, 2019: Classification December 31, 2019 Lease Assets Operating lease assets Operating lease right-of-use assets $ 6,861,099 Lease Liabilities Current operating lease liabilities Current portion of operating lease liability $ 1,880,957 Non-current operating lease liabilities Other accrued liabilities 4,987,088 Total lease liabilities $ 6,868,045
Summary of Maturity Analysis of Operating Lease Liabilities	The following table presents the Company’s maturity analysis of its operating lease liabilities as of December 31, 2019 December 31, 2019 2020 $ 1,916,250 2021 1,112,792 2022 1,098,487 2023 1,055,010 2024 and beyond 2,547,044 Total lease payments $ 7,729,583 Less: interest (861,538 ) Present value of lease liabilities $ 6,868,045 The following table presents the Company’s maturity analysis of its operating lease liabilities as of December 31, 2018 2019 $ 3,613,980 2020 910,778 2021 88,469 2022 and beyond 114,466 Total minimum operating lease payments $ 4,727,693

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum service period term	1 year
Impairment or disposal of long-lived assets	$ 0	$ 0
Impairment of goodwill and intangible asset	0
Operating lease right-of-use asset	6,861,099
Operating lease liability	6,868,045
ASU 2016-02
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Operating lease right-of-use asset			$ 4,300,000
Operating lease liability			$ 4,300,000
Long-term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 0	$ 0

Contract Assets and Contract _3

Contract Assets and Contract Liabilities - Summary of Contract Assets and Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Contract assets	$ 9,321,368	$ 12,030,000
Contract liabilities	(1,008,679)	(1,845,049)
Net contract assets	8,312,689	$ 10,184,951
Change in contract assets	(2,708,632)
Change in contract liabilities	836,370
Total	$ (1,872,262)

Contract Assets and Contract _4

Contract Assets and Contract Liabilities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Amounts billed but not yet paid pursuant to retention provisions	$ 2.8	$ 2.2
Contract liability billings in excess of costs and estimated earnings on uncompleted contracts	$ 1

Contract Assets and Contract _5

Contract Assets and Contract Liabilities - Changes in Contract Assets and Liabilities (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Revenue From Contract With Customer [Abstract]
Cumulative adjustment due to changes in contract values	$ 2,260,795
Cumulative adjustment due to changes in estimated costs at completion	(4,127,610)
Revenue recognized in the period	128,656,865
Amounts reclassified to receivables	(129,065,172)
Impairment of contract assets	402,860
Total	$ (1,872,262)

Income Taxes - Components for I

Income Taxes - Components for Income Tax Provision From Continuing Operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Current
Federal	$ (13,164)	$ (153,610)
State	334,307	597,909
Current Total	321,143	444,299
Deferred
Federal	2,638,158	1,779,574
State	304,072	(426,927)
Deferred Total	2,942,230	1,352,647
Total	$ 3,263,373	$ 1,796,946

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax provision	$ 3,263,373	$ 1,796,946
Total	$ 3,263,373	$ 1,796,946

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Accrued vacation	$ 171,391	$ 139,713
Acquisition costs capitalized	50,450	55,917
Accrued remediation costs	115,000	120,493
Net operating loss carryforwards	925,774	435,121
Sec 163(j) interest limitation		199,582
Federal depreciation in excess of state	813,542	635,202
Accrued payables	62,721	17,914
Percentage completed contract method for tax	90,241	1,557,437
Accrued workers’ compensation	90,795	205,150
Capitalized bidding costs	86,112	73,565
Inventory adjustments	141,838	263,680
Lease liability	1,677,962	15,199
Accrued contract losses	67,190	164,843
Other	5,152	4,097
Total deferred tax assets	4,298,168	3,887,913
Deferred tax liabilities
481 (a) adjustment for deferred revenue		(24,602)
Tax amortization in excess of financial statement amortization	(17,347)	(13,378)
Tax depreciation in excess of financial statement depreciation	(11,624,772)	(9,910,975)
Right-of-use assets	(1,664,814)
Total deferred tax liabilities	(13,306,933)	(9,948,955)
Total net deferred tax liabilities	$ (9,008,765)	$ (6,061,042)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ 4,400,000
Non-current deferred tax liability	9,008,765	$ 6,061,042
Minimum amount of future taxable income required to realize deferred tax assets	$ 14,400,000
Change in effective tax rate	6.60%
Unrecognized tax benefits	$ 4,000	4,723	$ 4,723
Income tax interest and penalties expensed during period	1,000	1,000
Accrued income tax interest and penalties	$ 11,000	$ 11,000

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%
State tax rate, net of federal tax	4.20%	4.00%
Nondeductible expenses	6.20%	5.40%
Other	1.30%	(4.10%)
Total	32.70%	26.30%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward
Balance as of January 1	$ 4,723	$ 4,723
Increase from current year tax positions	0	0
Increase from prior years’ tax positions	0	0
Decrease from settlements with taxing authority	(723)	0
Decrease from expiration of statute of limitations	0	0
Balance as of December 31	$ 4,000	$ 4,723

Commitments and Contingencies_2

Commitments and Contingencies Related to Discontinued Operations (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Discontinued Operations And Disposal Groups [Abstract]
Contingency provision related to discontinued operations	$ 0.5	$ 0.5

Property, Buildings and Equip_3

Property, Buildings and Equipment - Summary of Property, Buildings and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Property, building and equipment, gross	$ 106,978,147	$ 91,987,138
Less accumulated depreciation	51,904,568	43,060,083
Net properties, buildings and equipment	55,073,579	48,927,055
Land
Property Plant And Equipment [Line Items]
Property, building and equipment, gross	2,047,449	670,400
Land improvements
Property Plant And Equipment [Line Items]
Property, building and equipment, gross	$ 650,932	537,175
Land improvements | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	7 years
Land improvements | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	15 years
Buildings and improvements
Property Plant And Equipment [Line Items]
Property, building and equipment, gross	$ 2,815,440	2,767,603
Buildings and improvements | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	5 years
Buildings and improvements | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	40 years
Leasehold improvements
Property Plant And Equipment [Line Items]
Property, building and equipment, gross	$ 253,733	254,385
Leasehold improvements | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	5 years
Leasehold improvements | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	39 years
Machinery and equipment
Property Plant And Equipment [Line Items]
Property, building and equipment, gross	$ 100,988,697	87,734,262
Machinery and equipment | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	2 years
Machinery and equipment | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	10 years
Construction in progress
Property Plant And Equipment [Line Items]
Property, building and equipment, gross	$ 221,896	$ 23,313

401 (k) Employee Benefits Plan

401 (k) Employee Benefits Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Maximum annual contribution percentage per employee	75.00%
Employer discretionary contributions to the plan	$ 340,000	$ 258,000

Notes Payable - Summary of Note

Notes Payable - Summary of Notes Payable (Details) - USD ($)	Dec. 31, 2019	Mar. 07, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Note payable balance	$ 32,244,000		$ 28,920,000
Interest Rates	2019.00%		2018.00%
Balances of the Company's notes payable
Note payable balance	$ 32,244,000		$ 28,920,000
Less unamortized debt issuance costs	71,577		27,086
Total notes payable, net	32,172,423		28,892,914
Less current portion of notes payable, net	7,769,497		7,161,890
Notes payable net, less current portion	24,402,926		21,731,024
Working Capital Loan
Debt Instrument [Line Items]
Note payable balance	0		$ 5,000,000
Interest Rates			4.31%
Balances of the Company's notes payable
Loan agreement face amount	23,000,000
Note payable balance	0		$ 5,000,000
$38.2 Million Equipment Loan
Debt Instrument [Line Items]
Note payable balance	$ 32,244,000	$ 22,700,000	$ 23,920,000
Interest Rates	3.52%		4.31%
Balances of the Company's notes payable
Loan agreement face amount	$ 38,200,000	38,200,000
Note payable balance	32,244,000	22,700,000	$ 23,920,000
$4.5 Million Equipment Loan
Debt Instrument [Line Items]
Note payable balance	0
Balances of the Company's notes payable
Loan agreement face amount	4,500,000	$ 4,500,000
Note payable balance	$ 0

Notes Payable - Narrative (Deta

Notes Payable - Narrative (Details) - USD ($)	Aug. 03, 2019	Dec. 09, 2019	Dec. 31, 2019	Dec. 31, 2018	Mar. 07, 2024	Mar. 09, 2024	Mar. 02, 2020	Mar. 07, 2019	Jan. 01, 2019
Debt Instrument [Line Items]
Borrowings outstanding			$ 32,244,000	$ 28,920,000
Proceeds from notes payable			15,500,000	18,275,451
Letter of credit related to workers' compensation			$ 600,000	600,000
2018 Master Loan Agreement | LIBOR
Debt Instrument [Line Items]
Basis spread added to monthly LIBOR			1.80%
Equipment Purchase Loan
Debt Instrument [Line Items]
Loan agreement face amount			$ 405,000
Loan maturity date			Jun. 14, 2021
Monthly repayment amount			$ 10,687
Stated rate			5.85%
$27.49 Million Equipment Loan
Debt Instrument [Line Items]
Loan agreement face amount								$ 27,490,000	$ 27,490,000
Borrowings outstanding				23,900,000
$38.2 Million Equipment Loan
Debt Instrument [Line Items]
Loan agreement face amount			$ 38,200,000					38,200,000
Borrowings outstanding			$ 32,244,000	23,920,000				22,700,000
Proceeds from notes payable	$ 15,500,000
Periodic payment		$ 598,000
Frequency of periodic payment			monthly
$38.2 Million Equipment Loan | Scenario Forecast
Debt Instrument [Line Items]
Periodic payment						$ 650,000
$4.5 Million Equipment Loan
Debt Instrument [Line Items]
Loan agreement face amount			$ 4,500,000					$ 4,500,000
Borrowings outstanding			$ 0
Frequency of periodic payment			monthly
$4.5 Million Equipment Loan | Subsequent Event
Debt Instrument [Line Items]
Debt instrument drew amount							$ 4,500,000
$4.5 Million Equipment Loan | Scenario Forecast
Debt Instrument [Line Items]
Periodic payment					$ 93,750
Working Capital Loan
Debt Instrument [Line Items]
Loan agreement face amount			$ 23,000,000
Borrowings outstanding			$ 0	$ 5,000,000
Working Capital Loan | 2018 Master Loan Agreement
Debt Instrument [Line Items]
Loan maturity date			Nov. 28, 2021
Working Capital Loan | 2018 Master Loan Agreement | Maximum
Debt Instrument [Line Items]
Loan agreement face amount			$ 23,000,000
Working Capital Loan | 2018 Master Loan Agreement | Minimum
Debt Instrument [Line Items]
Loan agreement face amount			$ 18,000,000

Notes Payable - Schedule of Rep

Notes Payable - Schedule of Repayments of Notes Payable (Details) - Notes payable	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
2020	$ 7,800,000
2021	7,800,000
2022	7,800,000
2023	7,800,000
2024	1,044,000
Total payments of notes payable	$ 32,244,000

Commitments and Contingencies -

Commitments and Contingencies - Performance Bonds (Details) $ in Millions	Dec. 31, 2019USD ($)
Performance Bond
Guarantor Obligations [Line Items]
Outstanding performance bonds	$ 47.9

Commitments and Contingencies_3

Commitments and Contingencies (Details)	12 Months Ended
	Dec. 31, 2019USD ($)Employer	Dec. 31, 2018USD ($)
Guarantor Obligations [Line Items]
Contributions to plan | $	$ 216,000	$ 227,000
Arrangement Expiring August 31, 2023 | Multiemployer Plan, Plan Information, Available | National Electrical Benefit Fund | Multiemployer Plans, Pension
Guarantor Obligations [Line Items]
Number of employers responsible for 5% or more of contributions to multiemployer pension plan | Employer	0
Percent of employer contribution for multiemployer pension plan (no more than 5%)	5.00%

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of multi-employer pension plans (Details)	12 Months Ended
	Dec. 31, 2019
Multiemployer Plans [Line Items]
EIN Number	88-0031580
Arrangement Expiring August 31, 2023 | Multiemployer Plans, Pension | National Electrical Benefit Fund | Multiemployer Plan, Plan Information, Available
Multiemployer Plans [Line Items]
EIN Number	53-0181657
Plan Number	001

Income Per Share of Common St_2

Income Per Share of Common Stock - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Shares of treasury stock excluded from weighted average number of common stock shares outstanding	3,291,238	3,223,529

Common Stock Repurchase Plan -

Common Stock Repurchase Plan - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Mar. 07, 2019	Sep. 17, 2002
Equity, Class of Treasury Stock [Line Items]
Stock repurchased during the period	67,709	861,111
Purchase of treasury stock	$ 161,285	$ 1,970,632
Average cost per share repurchased (USD per share)	$ 2.38	$ 2.29
Treasury stock, shares	3,291,238	3,223,529
Total cost of shares repurchased	$ 3,440,104	$ 3,278,819
Total number of shares repurchased	3,291,238	3,223,529
2002 Common Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Average cost per share repurchased (USD per share)	$ 1.05
Stock repurchase plan, number of shares permitted			6,000,000
Remaining number of shares available to be repurchased			2,726,120
Treasury stock, shares	3,273,880
Total cost of shares repurchased	$ 3,421,383
Total number of shares repurchased	3,273,880
Stock Repurchase Programs Prior to 2002
Equity, Class of Treasury Stock [Line Items]
Treasury stock, shares				17,358
Total cost of shares repurchased				$ 18,720
Total number of shares repurchased				17,358

Business Segment Information -

Business Segment Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2019USD ($)Segment	Dec. 31, 2018USD ($)
Segment Reporting [Abstract]
Number of operating segments | Segment	2
Accounts receivable and accrued billings, net | $	$ 23,930,655	$ 22,236,071

Business Segment, Business Cr_3

Business Segment, Business Credit Risks and Concentration -Business Segments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 180,645,718	$ 138,148,842
Total operating expenses	169,430,167	130,585,138
Total operating income	11,215,551	7,563,704
Total other expenses, net	(1,225,571)	(739,007)
Income before income taxes	9,989,980	6,824,697
Capital Expenditures	19,854,468	19,609,245
Depreciation and Amortization	10,846,334	8,436,972
Operating Segments | Electrical construction
Segment Reporting Information [Line Items]
Total revenue	167,779,823	136,526,511
Total operating expenses	152,660,559	123,914,953
Total operating income	15,119,264	12,611,558
Total other expenses, net	(1,362,917)	(761,117)
Income before income taxes	13,756,347	11,850,441
Capital Expenditures	18,799,010	19,514,124
Depreciation and Amortization	10,718,202	8,319,362
Operating Segments | Real estate development
Segment Reporting Information [Line Items]
Total revenue	12,865,895	1,622,331
Total operating expenses	11,106,477	1,924,835
Total operating income	1,759,418	(302,504)
Total other expenses, net	(5,498)	(56,010)
Income before income taxes	1,753,920	(358,514)
Capital Expenditures	116,497	42,545
Depreciation and Amortization	26,950	21,279
Corporate
Segment Reporting Information [Line Items]
Total operating expenses	5,663,131	4,745,350
Total operating income	(5,663,131)	(4,745,350)
Total other expenses, net	142,844	78,120
Income before income taxes	(5,520,287)	(4,667,230)
Capital Expenditures	938,961	52,576
Depreciation and Amortization	$ 101,182	$ 96,331

Business Segment Information _2

Business Segment Information - Summary of Identifiable Assets by Segment (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Identifiable Assets	$ 129,367,178	$ 112,548,475
Operating Segments | Electrical construction
Segment Reporting Information [Line Items]
Identifiable Assets	111,064,071	93,625,017
Operating Segments | Real estate development
Segment Reporting Information [Line Items]
Identifiable Assets	7,578,440	14,557,323
Corporate
Segment Reporting Information [Line Items]
Identifiable Assets	$ 10,724,667	$ 4,366,135

Business Segment, Business Cr_4

Business Segment, Business Credit Risks and Concentration - Business Concentration and Credit Risks (Details) - Revenue - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Major customers
Concentration Risk [Line Items]
Concentration risk, percentage	54.10%	57.20%
Major customers | Customer A
Concentration Risk [Line Items]
Revenues	$ 48,771,790	$ 39,866,379
Concentration risk, percentage	27.00%	28.90%
Major customers | Customer B
Concentration Risk [Line Items]
Revenues	$ 26,276,755	$ 22,085,201
Concentration risk, percentage	14.50%	16.00%
Major customers | Customer C
Concentration Risk [Line Items]
Revenues	$ 22,765,933
Concentration risk, percentage	12.60%
Major customers | Customer D
Concentration Risk [Line Items]
Revenues		$ 16,971,598
Concentration risk, percentage		12.30%
Service/product
Concentration Risk [Line Items]
Revenues	$ 180,645,718	$ 138,148,842
Concentration risk, percentage	100.00%	100.00%
Service/product | Principal electrical construction operations
Concentration Risk [Line Items]
Revenues	$ 165,283,100	$ 129,021,508
Concentration risk, percentage	92.00%	93.00%
Service/product | Other electrical construction
Concentration Risk [Line Items]
Revenues	$ 2,496,723	$ 7,505,003
Concentration risk, percentage	1.00%	6.00%
Service/product | Electrical construction
Concentration Risk [Line Items]
Revenues	$ 167,779,823	$ 136,526,511
Concentration risk, percentage	93.00%	99.00%
Service/product | Real estate development
Concentration Risk [Line Items]
Revenues	$ 12,865,895	$ 1,622,331
Concentration risk, percentage	7.00%	1.00%

Restricted Cash - Narrative (De

Restricted Cash - Narrative (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Restricted Cash And Investments [Abstract]
Restricted cash	$ 0	$ 25,980

Restricted Cash - Reconciliatio

Restricted Cash - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Cash And Investments [Abstract]
Cash and cash equivalents	$ 23,272,156	$ 11,376,373
Restricted cash	0	25,980
Cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$ 23,272,156	$ 11,402,353	$ 18,631,784

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets Associated with the Acquisition of C&C (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Goodwill	$ 101,407	$ 101,407
Gross Carrying Amount	1,013,800	1,013,800
Accumulated Amortization	(384,801)	(324,634)
Net Carrying Amount	628,999	689,166
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization expense, 2020	60,000
Amortization expense, 2021	60,000
Amortization expense, 2022	60,000
Amortization expense, 2023	60,000
Amortization expense, 2024	$ 60,000
Trademarks/Names
Finite Lived Intangible Assets [Line Items]
Useful Life	15 years
Gross Carrying Amount	$ 640,000	640,000
Accumulated Amortization	(256,001)	(213,334)
Net Carrying Amount	$ 383,999	426,666
Customer relationships
Finite Lived Intangible Assets [Line Items]
Useful Life	20 years
Gross Carrying Amount	$ 350,000	350,000
Accumulated Amortization	(105,000)	(87,500)
Net Carrying Amount	$ 245,000	262,500
Non-competition agreement
Finite Lived Intangible Assets [Line Items]
Useful Life	5 years
Gross Carrying Amount	$ 10,000	10,000
Accumulated Amortization	(10,000)	(10,000)
Net Carrying Amount	$ 0	0
Other
Finite Lived Intangible Assets [Line Items]
Useful Life	1 year
Gross Carrying Amount	$ 13,800	13,800
Accumulated Amortization	(13,800)	(13,800)
Net Carrying Amount	$ 0	$ 0

ASC 606 Revenue Recognition a_3

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures - Disaggregation of Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Total revenue	$ 180,645,718	$ 138,148,842
Electrical construction
Disaggregation Of Revenue [Line Items]
Total revenue	167,779,823	136,526,511
Electrical construction | Southeast
Disaggregation Of Revenue [Line Items]
Total revenue	69,558,248	54,123,848
Electrical construction | mid-Atlantic
Disaggregation Of Revenue [Line Items]
Total revenue	50,406,022	41,071,994
Electrical construction | Texas-Southwest
Disaggregation Of Revenue [Line Items]
Total revenue	45,318,830	33,825,666
Electrical construction | Other electrical construction
Disaggregation Of Revenue [Line Items]
Total revenue	2,496,723	7,505,003
Real estate development operations
Disaggregation Of Revenue [Line Items]
Total revenue	$ 12,865,895	$ 1,622,331

ASC 606 Revenue Recognition a_4

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures - Narrative (Details) $ in Millions	Dec. 31, 2019USD ($)
Revenue From Contract With Customer [Abstract]
Remaining performance obligation	$ 68.5

ASC 606 Revenue Recognition a_5

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures - Performance Obligation Narrative (Details) $ in Millions	Dec. 31, 2019USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligation	$ 68.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligation	$ 49.1
Remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligation	$ 19.4
Remaining performance obligation, expected timing of satisfaction, period

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Lessee Lease Description [Line Items]
Operating lease right-of-use asset	$ 6,861,099
Operating lease liability	$ 6,868,045
Remaining term of lease	5 years 7 months 28 days
Weighted-average incremental borrowing rate	4.05%
Operating lease cost	$ 3,700,000	$ 4,700,000
Electrical construction operation's equipment
Lessee Lease Description [Line Items]
Remaining term of lease	7 years
leases with residual value guarantees	$ 0
ASU 2016-02
Lessee Lease Description [Line Items]
Operating lease right-of-use asset			$ 4,300,000
Operating lease liability			$ 4,300,000

Leases - Summary of Lease Asset

Leases - Summary of Lease Assets and Lease Liabilities (Details)	Dec. 31, 2019USD ($)
Lease Assets
Operating lease right-of-use assets	$ 6,861,099
Lease Liabilities
Current portion of operating lease liability	1,880,957
Non-current operating lease liabilities	$ 4,987,088
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherAccruedLiabilitiesNoncurrent
Total lease liabilities	$ 6,868,045

Leases - Summary of Maturity An

Leases - Summary of Maturity Analysis of Operating Lease Liabilities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Operating Lease Liabilities, Payments Due [Abstract]
2020	$ 1,916,250
2021	1,112,792
2022	1,098,487
2023	1,055,010
2024 and beyond	2,547,044
Total lease payments	7,729,583
Less: interest	(861,538)
Operating lease liability	$ 6,868,045
2019		$ 3,613,980
2020		910,778
2021		88,469
2022 and beyond		114,466
Total minimum operating lease payments		$ 4,727,693