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Deferred Revenue | 6 Months Ended
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Jun. 30, 2017
Revenue Recognition and Deferred Revenue [Abstract] |
Deferred Revenue | NOTE 13 – DEFERRED REVENUE On July 18, 2016, upon the acquisition of Boxlight Group, the Company assumed a $761,622 future performance obligation for separately priced extended warranties sold by Boxlight Group based on the assets acquired and liabilities assumed. Deferred revenue consisted of the following for the three months ended June 30, 2017 and for the year ended December 31, 2016:
|  | June 30, 2017 |  |  | December 31, 2016 |
Balance, beginning |  | $ | 767,726 |  |  | $ | - |
Assumed from Boxlight Group |  |  | - |  |  |  | 761,622 |
Additions |  |  | 314,066 |  |  |  | 259,744 |
Amortization |  |  | (258,220 | ) |  |  | (253,640 | )
Balance, ending |  | $ | 823,572 |  |  | $ | 767,726 |
Deferred revenue – short-term |  | $ | 607,342 |  |  | $ | 495,603 |
Deferred revenue – long-term |  | $ | 216,230 |  |  | $ | 272,123 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 430 -URI http://asc.fasb.org/topic&trid=2122452 + Details
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- References No definition available. + Details
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