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REVENUE RECOGNITION
9 Months Ended
Sep. 30, 2014
Notes to Financial Statements  
Note 7 - REVENUE RECOGNITION

We consider revenue recognizable when persuasive evidence of an arrangement exists, the price is fixed or determinable, goods or services have been delivered, and collectability is reasonably assured. These criteria are assumed to have been met if a customer orders an item, the goods or services have been shipped or delivered to the customer, and we have sufficient evidence of collectability, such a payment history with the customer. Revenue that is billed and received in advance such as recurring weekly or monthly services are initially deferred and recognized as revenue over the period the services are provided.

 

Our records at September 30, 2014 have been sufficient to satisfy all of the four requirements. Revenue has been recognized for the all amounts billed prior to September 30, 2014, all of which were in respect of services rendered during or prior to July 2013.