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Long-term contracts - Note 3 | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Long-term contracts - Note 3 | 3. LONG-TERM CONTRACTS In March 2015, we signed a license agreement with Sony for our PicoP® scanning technology. The license agreement granted Sony a non-exclusive license to our technology to incorporate into display modules it manufactures and sells for up to eight years. As part of the agreement, we received an $8.0 million upfront license fee in March 2015, and we will receive ongoing per unit royalties for each display module it sells. In October 2014, we entered into a $1.5 million agreement with Sony for display module support services as part of the production readiness and commercialization of display modules incorporating PicoP® scanning technology. We recognized the full contract value of $1.5 million in revenue in June 2015, having completed all deliverables and obligations under the agreement. The following table summarizes the costs incurred on our revenue contracts (in thousands):
|  |  | December 31,
|  |  | 2016 |  |  | 2015
Costs and estimated earnings incurred on uncompleted contracts |  | $ | 193 |  | $ | -
Billings on uncompleted contracts |  |  | (236) |  |  | -
|  | $ | (43) |  | $ | -
Included in consolidated balance sheets under the following captions: |  |  |  |  |  |
Other current assets |  | $ | 125 |  | $ | -
Billings on uncompleted contracts in excess of related costs |  |  | (168) |  |  | -
|  | $ | (43) |  | $ | -

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