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13. REVENUES
 6 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]  
REVENUES

13. REVENUES

 

For each of the identified periods, revenues can be categorized into the following:

 

 

   For the six months ended June 30, 
   2019   2018 
Product Sales  $2,825,057   $3,706,103 
Maintenance Fees   4,888    3,789 
Professional Services   –    10,575 
Total Revenues  $2,829,945   $3,720,467 

 

At June 30, 2019 and December 31, 2018, deferred revenue amounted to $835,110 and $835,785 respectively. At June 30, 2019, the Company has received an initial deposit to plan and manufacture two Solar Tree® units, a prepayment for the delivery two of our new DC Fast Charging EVARCTM units, a prepayment for one standard EVARCTM unit, in addition to deposits for multi-year maintenance plans for previously sold products. As of June 30, 2019, deferred revenue associated with product deposits are $791,913 and the delivery of such products are expected within the next six months, while deferred maintenance fees amounted to $43,197 and pertain to services to be provided through the second quarter of 2022.

 

At December 31, 2018, the Company accrued expected contract losses of $71,744 on an order for a customer that was expected to ship in 2019 (see Note 4). As the units were delivered, the loss accrual was proportionally reduced. In the three and six months ended June 30, 2019, $30,611 and $68,593 was released from the accrual to reduce cost of revenues.