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DISAGGREGATION OF REVENUE | 9 Months Ended
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Sep. 30, 2018
Notes to Financial Statements |
NOTE 12 - DISAGGREGATION OF REVENUE | ASC 606-10-50-5 requires that entities disclose disaggregated revenue information in categories (such as type of good or service, geography, market, type of contract, etc). ASC 606-10-55-89 explains that the extent to which an entity’s revenue is disaggregated depends on the facts and circumstances that pertain to the entity’s contracts with customers and that some entities may need to use more than one type of category to meet the objective for disaggregating revenue. The Company disaggregates revenue by country to depict the nature and economic characteristics affecting revenue. The following table presents our revenue disaggregated by country for the nine months ended:
Country |  | September 30, 2018 |  |  | September 30, 2017 |
Belgium |  | $ | 4,276 |  |  | $ | - |
Bulgaria |  |  | - |  |  |  | 3,121 |
Denmark |  |  | 255,426 |  |  |  | 323,589 |
France |  |  | 255,123 |  |  |  | 122,411 |
FYROM |  |  | - |  |  |  | 5,105 |
Germany |  |  | 11,706,961 |  |  |  | 10,148,252 |
Greece |  |  | 1,733,077 |  |  |  | 1,492,507 |
Hungary |  |  | 1,194,471 |  |  |  | 290,965 |
Indonesia |  |  | 6,519 |  |  |  | - |
Ireland |  |  | 1,331,770 |  |  |  | 957,949 |
Italy |  |  | 338,073 |  |  |  | 213,471 |
Jordan |  |  | 134,274 |  |  |  | - |
Netherlands |  |  | 3,406,124 |  |  |  | 2,944,122 |
Poland |  |  | 724,695 |  |  |  | 498,363 |
Portugal |  |  | - |  |  |  | 5,585 |
Sweden |  |  | - |  |  |  | 9,927 |
UK |  |  | 8,239,895 |  |  |  | 2,760,031 |
Total |  | $ | 29,330,684 |  |  | $ | 19,775,398 |

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- Definition The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 430 -URI http://asc.fasb.org/topic&trid=2122452 + Details
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