4. Contract Liabilities:

The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees. The table below presents the activity of the current and noncurrent deferred franchise revenue during the first three months of 2019 and 2018, respectively:


	March 30, 2019		March 31, 2018
Balance at beginning of period	$	10,177,300	$	10,310,200
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		292,000		486,000
Fees earned that were included in the balance at the beginning of the period		(470,700)		(473,300)
Balance at end of period	$	9,998,600	$	10,322,900

The following table illustrates future estimated revenue to be recognized for the remainder of 2019 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 30, 2019.


Contract Liabilities expected to be recognized in	Amount
2019	$	1,268,900
2020		1,630,600
2021		1,491,700
2022		1,346,800
2023		1,175,600
Thereafter		3,085,000
	$	9,998,600