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Note B - Revenue From Contracts With Customers
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]
NOTE B—REVENUE FROM CONTRACTS WITH CUSTOMERS
 
The Company adopted ASC
606
on
January 1, 2018
using the modified retrospective method for all contracts
not
completed as of the date of adoption.
 
Disaggregation of Revenue
 
The following table summarizes revenue from contracts with customers for the years ended:
 
   
North
America
    
South
America
    
EMEA*
    
Asia
    
December 31,
201
9
  
                                         
License fees
   $
208,827
     $
46,717
     $
117,401
     $
69,704
     $
442,649
  
Hardware
    
388,938
      
12,636
      
342,304
      
155,756
      
899,634
  
Support and Maintenance
    
780,288
      
8,514
      
96,911
      
18,502
      
904,215
  
Professional services
    
14,030
      
-
      
3,000
      
4,000
      
21,030
  
Total Revenues
   $
1,392,083
     $
67,867
     $
559,616
     $
247,962
     $
2,267,528
  
 
   
North
America
    
South
America
    
EMEA*
    
Asia
    
December 31,
201
8
  
                                         
License fees
   $
318,271
     $
32,000
     $
278,516
     $
1,111,110
     $
1,739,897
  
Hardware
    
439,480
      
53,200
      
477,674
      
321,715
      
1,292,069
  
Support and Maintenance
    
805,800
      
665
      
60,820
      
27,321
      
894,606
  
Professional services
    
115,970
      
-
      
2,000
      
-
      
117,970
  
Total Revenues
   $
1,679,521
     $
85,865
     $
819,010
     $
1,460,146
     $
4,044,542
  
 
* EMEA – Europe, Middle East, Africa
 
Revenue recognized during the year ended
December 31, 2019
from amounts included in deferred revenue at the beginning of the period was approximately
$147,000.
The Company did
not
recognize any revenue from performance obligations satisfied in prior periods. Total deferred revenue (contract liability) was
$359,212
and
$196,609
at
December 31, 2019
and
December 31, 2018,
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, 2019.
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, 2019
deferred revenue represents our remaining performance obligations related to prepaid support and maintenance, all of which is expected to be recognized within
one
year.