Contract Liabilities

12 Months Ended

Dec. 31, 2019

Contract Liability [Abstract]

Contract Liabilities

8. CONTRACT LIABILITIES

Progress payment balances in excess of revenue recognized are classified as contract liabilities on the Consolidated Balance Sheet in the financial statement line item titled “Deferred revenue.”

	Years ended December 31,
	2019		2018
Contract Liabilities:
Asset Management - Deferred revenue	$	-	$	1,875
Total Contract Liabilities	$	-	$	1,875

There were no contract liabilities as of December 31, 2019. As of December 31, 2018, the Company recognized a contract liability of $1.9 million related to the AMA executed on March 30, 2018 and effective January 2, 2018. See Note 14 – Related Party Transactions for details regarding this transaction.