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DEFERRED REVENUE
 6 Months Ended
Mar. 31, 2024
Deferred Revenue  
DEFERRED REVENUE

NOTE 16 – DEFERRED REVENUE

 

The Company’s deferred revenue as of and for the three and six months ended March 31, 2024, and 2023, were as follows:

 

   For the three months ended   For the six months ended 
   March 31, 2024   March 31, 2023   March 31, 2024   March 31, 2023 
                 
Deferred revenue at beginning of period  $2,256,352   $1,693,021   $2,311,334   $1,824,534 
Net additions:                    
Deferred software revenues   487,413    580,752    1,147,383    1,008,169 
Recognized as revenue:                    
Deferred software revenues   (684,540)   (558,775)   (1,399,492)   (1,117,705)
Deferred revenue at end of period   2,059,225    1,714,998    2,059,225    1,714,998 
Less: current portion   1,404,608    581,193    1,404,608    581,193 
Long-term deferred revenue at end of period  $654,617   $1,133,805   $654,617   $1,133,805 

 

For the three and six months ended March 31, 2024 and 2023, the Company recognized revenue of $608,808, and $483,296, and $1,043,281 and $963,674, respectively, that was previously included in the beginning balance of deferred revenues.