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Contract Liabilities

6 Months Ended

Jun. 30, 2019

7. CONTRACT LIABILITIES

Progress payment balances in excess of revenue recognized, as well as advance payments received from customers, are classified as contract liabilities on the consolidated balance sheet in the financial statement line item titled “Deferred revenue.”

Contract liabilities consisted of the following:

	June 30,		December 31,
	2019		2018
Contract Liabilities: Customer Deposits and Deferred Revenue
Asset Management - Deferred revenue		625		1,875
Total Contract Liabilities	$	625	$	1,875

Asset Management – Deferred revenue relate to the AMA executed on March 30, 2018 and effective January 2, 2018. See Note 18 – Related Party Transactions for details regarding this transaction and details regarding the amendment executed in April 2019.