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Revenues
 6 Months Ended
Jun. 30, 2023
Revenues [Abstract]  
REVENUES

NOTE 5 – REVENUES

 

Under ASC 606, Revenue from Contracts with Customers, we record revenue when earned, rather than when billed. From time to time, we may record revenue based on our revenue recognition policies in advance of being able to invoice the customer, or we may invoice the customer prior to being able to recognize the revenue. Included in accounts receivable are unbilled amounts of $2,975,040 and $3,582,735 at June 30, 2023, and December 31, 2022, respectively. Amounts billed in advance of revenue recognition are presented as deferred revenue on the condensed consolidated balance sheets.

 

The Company has several signed contracts with customers for the distribution of messaging, or other services, which include payment in advance. The payments are not recorded as revenue until the revenue is earned under its revenue recognition policy. Deferred revenue was $451,787 and $164,309 as of June 30, 2023 and December 31, 2022, respectively. The contracts are all short term in nature and all revenue is expected to be recognized within 12 months, or less. Following is a summary of activity for the deferred revenue account for the quarter ended June 30.

 

   2023   2022 
Balance January 1  $164,309   $1,389,907 
Revenue recognized   (8,778,893)   (6,013,181)
Amount collected   9,349,724    5,916,318 
Balance March 31  $735,140   $1,293,044 
Revenue recognized   (9,619,380)   (7,373,802)
Amount collected   9,336,027    7,122,677 
Balance June 30  $451,787   $1,041,919 

 

Disaggregation of Revenue

 

Consistent with ASC Topic 606, we have disaggregated our revenue by timing of revenue recognition. The majority of our revenue is recognized over time as solutions are provided. A small portion of our revenue related to program development, solution architect design, and other solutions is recognized at a point in time upon delivery to customers. A break down is set forth in the table below.

 

   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2023   2022   2023   2022 
Revenue recognized over time  $13,033,714   $12,169,710   $25,606,135   $25,123,323 
Revenue recognized at a point in time   784,452    1,808,955    1,214,941    2,586,872 
Total Revenue  $13,818,166   $13,978,665   $26,821,076   $27,710,195