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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Contract Balances

Contract assets and deferred revenues consist of the following as of June 30, 2024 and December 31, 2023:

 
 
Contract Assets
   
Contract
Liability
 
 
 
Costs of
obtaining
contracts
   
Unbilled
revenue
   
Total
   
Deferred
Revenue
 
Balance at January 1, 2023
 
$
158,016
   
$
2,094,942
   
$
2,252,958
   
$
2,581,287
 
Beginning deferred revenue balance recognized during the period
   
     
     
     
(2,581,286
)
Net change due to timing of billings, payments and recognition
   
(50,684
)
   
(1,075,561
)
   
(1,126,245
)
   
2,413,550
 
Balance at December 31, 2023
   
107,332
     
1,019,381
     
1,126,713
     
2,413,551
 
Beginning deferred revenue balance recognized during the period
   
     
     
     
(2,133,447
)
Net change due to timing of billings, payments and recognition
   
(9,881
)
   
(161,477
)
   
(171,358
)
   
2,922,599
 
Balance at June 30, 2024
 
$
97,451
   
$
857,904
   
$
955,355
   
$
3,202,703
 

Transaction Price Allocated to Remaining Performance Obligations

The transaction price allocated to remaining performance obligations consisted of the following:

 
 
June 30, 2024
   
December 31, 2023
 
Estimated next twelve months
 
$
16,191,125
   
$
17,202,223
 
Thereafter
   
16,944,792
     
20,831,200
 
Total
 
$
33,135,917
   
$
38,033,423