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Note B - Revenue From Contracts With Customers
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]
NOTE B
—
REVENUE FROM CONTRACTS WITH CUSTOMERS
 
Disaggregation of Revenue
 
The following table summarizes revenue from contracts with customers for the years ended:
 
   
North
America
    
South
America
    
EMEA*
    
Asia
    
December
31,
2020
  
                                         
License fees
   $
842,307
     $
-
     $
46,922
     $
72,809
     $
962,038
  
Hardware
    
267,996
      
-
      
144,647
      
29,873
      
442,516
  
Services
    
1,296,696
      
18,300
      
94,124
      
23,108
      
1,432,228
  
Total Revenues
   $
2,406,999
     $
18,300
     $
285,693
     $
125,790
     $
2,836,782
  
 
   
North
America
    
South
America
    
EMEA*
    
Asia
    
December
31,
2019
  
                                         
License fees
   $
208,827
     $
46,717
     $
117,401
     $
69,704
     $
442,649
  
Hardware
    
388,938
      
12,636
      
342,304
      
155,756
      
899,634
  
Services
    
794,318
      
8,514
      
99,911
      
22,502
      
925,245
  
Total Revenues
   $
1,392,083
     $
67,867
     $
559,616
     $
247,962
     $
2,267,528
  
 
* EMEA – Europe, Middle East, Africa
 
Revenue recognized during the year ended
December 31, 2020
from amounts included in deferred revenue at the beginning of the period was approximately
$290,000.
The Company did
not
recognize any revenue from performance obligations satisfied in prior periods. Total deferred revenue (contract liability) was
$702,336
and
$359,212
at
December 31, 2020
and
2019,
respectively.
 
Transaction Price Allocated to the Remaining Performance Obligations
 
ASC
606
requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have
not
yet been satisfied as at
December 31, 2020.
The guidance provides certain practical expedients that limit this requirement, which the Company's contracts meet as follows:
 
 
●
The performance obligation is part of a contract that has an original expected duration of
one
year or less, in accordance with ASC
606
-
10
-
50
-
14.
 
At
December 31, 2020,
deferred revenue represents the Company's remaining performance obligations related to prepaid support and maintenance, all of which is expected to be recognized from
one
to
five
years.