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DEFERRED REVENUE
 9 Months Ended
Jun. 30, 2024
Deferred Revenue  
DEFERRED REVENUE

NOTE 16 – DEFERRED REVENUE

 

The Company’s deferred revenue as of and for the three and nine months ended June 30, 2024, and 2023, were as follows: 

 

   For the three months ended   For the nine months ended 
   June 30, 2024   June 30, 2023   June 30, 2024   June 30, 2023 
                 
Deferred revenue at beginning of period  $2,059,225   $1,714,998   $2,311,334   $1,824,534 
Net additions:                    
Deferred software revenues   502,136    673,363    1,649,519    1,681,532 
Recognized as revenue:                    
Deferred software revenues   (645,092)   (1,066,753)   (2,044,584)   (2,184,458)
Deferred revenue at end of period   1,916,269    1,321,608    1,916,269    1,321,608 
Less: current portion   1,284,688    581,193    1,284,688    581,193 
Long-term deferred revenue at end of period  $631,581   $740,415   $631,581   $740,415 

 

For the three and nine months ended June 30, 2024 and 2023, the Company recognized revenue of $571,660, and $1,364,475, and $442,040 and $1,040,221, respectively, that was previously included in the beginning balance of deferred revenues.