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Sales, Contract Assets and Contract Liabilities
9 Months Ended
Sep. 30, 2019
Sales, Contract Assets and Contract Liabilities  
Sales, Contract Assets and Contract Liabilities

Note 5 – Sales, Contract Assets and Contract Liabilities

The Company recognized no revenue during the nine months ended September 30, 2019. For the nine months ended September 30, 2018, the Company recognized revenues totaling $530,000 from completed flare projects. At September 30, 2019, the Company had contract assets of $53,000 and contract liabilities of $0. The cost of goods sold of $1,000, recognized during the nine months ended September 30, 2019, related to additional warranty costs incurred for previously completed contracts.